Trade Stratgey 4.17.20

Markets

U.S. stock futures jumped Thursday evening after President Trump announced plans to reopen the U.S. economy, triggering big overnight gains across the globe.

Source: Seeking Alpha https://seekingalpha.com/

In overseas markets, the DAX gains 4.20%, while US Markets are set for +3.0% gains for the opening bell.

Source: https://www.investing.com/indices/indices-cfds

Economic Calendar

10:00 Leading Indicators
1:00 PM Baker-Hughes Rig Count

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

***IMPORTANT >>> IF preset $risk parameters have been exceeded in your individual trade plan, THEN simply stand-aside or trade in simulation-mode until trade risk can properly be managed.

We’ll keep the “HIGH SURF WARNING FLAG” posted as volatility remains elevated, with VIX 38 and ATR (3) 90 handles.

S&P 500

Prior Session was Cycle Day 2 (CD2): Session unfolded as a “normal” CD2 as price oscillated throughout the session within Value Zone. Market on Close Buy Imbalance ($1.5B) sent prices closing on their highs…

Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Closing momentum spilled over into GLOBEX Session as price “Jumped-the-Creek” fulfilling and exceeding 3 Day Cycle Objective (2864.50). Gap is holding between 2850 – 2880 zone pre-RTH. Additional upside measures 2915 with gap-fill back to 2830 handle.

PVA High Edge = 2795       PVA Low Edge = 2770         Prior POC = 2788

Bull Scenario: IF Bulls hold bid above 2860, THEN initial upside estimate targets 2875 – 2880 zone.

Bear Scenario: IF Bears hold offer below 2860, THEN initial downside estimate targets 2850 – 2830 zone.

Range Projections and Key Levels (ES) June 2020 (M) Contract

HOD  ATR Range Projection: 2915; LOD ATR Range Projection: 2820; 3 Day Central Pivot: 2802; 3 Day Cycle Target: 2864.50; 10 Day Average True Range  89; VIX: 38

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price has fulfilled 3 Day Cycle Objective (8825.50) on prior close and has fulfilled CD3 Upper Penetration Level (8949) during GLOBEX Session.

PVA High Edge = 8250           PVA Low Edge = 8158         Prior POC = 8200

Bull Scenario: IF Bulls hold bid above 8915, THEN initial upside estimate targets 8948 – 8968 zone.

Bear Scenario: IF Bears hold offer below 8915, THEN initial downside estimate targets 8880 – 8840 zone.

Range Projections and Key Levels (NQ) June 2020 (M) Contract

HOD  ATR Range Projection: 9084; LOD ATR Range Projection: 8742; 3 Day Central Pivot: 8632; 3 Day Cycle Target: 8825.50; 10 Day Average True Range: 270; VIX: 38

Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.

Stay Focused…Non-Biased…Disciplined  ALWAYS USE STOPS!

Good Trading…David

“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee

*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN


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