Date: October 29, 2024

Market Overview Today’s session opened with prices trading 10 points below the established “Line in the Sand” (LIS) at 5860, suggesting an early bearish bias. This initial positioning created an opportunity for the market to test lower zones, specifically targeting the 5845-5840 region as a potential buy level. Throughout the day, PTGDavid provided clear guidance and updates on market dynamics, trading targets, and responses to key levels.

Session Highlights

1. Initial Downtrend and Lower Target Test
   PTGDavid noted the bearish sentiment in early trading as sellers drove prices toward the initial target zone (5845-5840). This target zone was swiftly fulfilled as anticipated, where PTGDavid highlighted potential buy interest emerging in response to these levels.
2. Key Level Reclaim and Bullish Response
   Following the fulfillment of the lower target, a strong buy response drove prices back to test the LIS at 5860. PTGDavid emphasized that sustaining above this level could potentially signal further upside, targeting the 5880-5885 range. This bullish scenario materialized as prices held support at 5860, allowing the initial upside target of 5880 to be achieved.
3. Trade Strategy and Execution
   PTGDavid introduced a live example of his “3 Day Cycle Trade,” emphasizing specific entry conditions when prices reach lower violation levels. The strategy targets a significant return on investment, typically aiming for a double or higher ROI, making it a robust approach for swing opportunities.
4. End-of-Day Market Dynamics
   As the session progressed into its final hour, PTGDavid pointed out a $1.7 billion Market on Close (MOC) sell imbalance, indicating significant selling interest in the closing auction. This MOC imbalance likely influenced closing price action and provided insight into end-of-day liquidity and sentiment shifts.

Key Takeaways

• The initial bearish move met the anticipated lower target zone (5845-5840), which acted as a support and buying opportunity.
• Reclaiming 5860 was crucial for bullish momentum, enabling prices to meet the 5880-5885 upside target.
• PTGDavid’s “3 Day Cycle Trade” offered a structured approach for identifying potential long positions with a high ROI.
• The late-session $1.7 billion MOC sell imbalance underscored heightened selling activity, impacting closing movements.

Conclusion Today’s market strategy, as outlined by PTGDavid, successfully anticipated critical price levels and market responses, guiding traders through both bearish and bullish scenarios. His clear communication of target fulfillment and response to LIS levels provided actionable insights for traders, reinforcing a disciplined approach to intraday market dynamics.