Morning Session: Opening Momentum and Key Levels
- Cycle Day 1 Begins: PTGDavid reminded traders of the new cycle, noting the anticipated decline per Taylor’s 3-Day Cycle. Early session targets were met with remarkable accuracy:
- The 6135-6130 lower target zone was fulfilled following a spillover decline.
- The Cycle Day 1 Average Decline Zone (6131-6127) was also achieved.
- Taylor 3-Day Cycle Precision: Praised for its uncanny accuracy, the cycle’s predictive nature was likened to “voodoo” for its consistency in identifying market rhythms.
- NASDAQ Opening Range: Clarified the opening range strategy for NQ:
- A 5-minute range with triggers set 4 ticks beyond either high or low.
- Stop levels positioned at the opposite side of the opening range.
Midday Analysis: Consolidation and Patience
- Key Observations:
- Midday trading activity was described as quiet, with price resistance noted at the prior RTH Low (6136.50). Bulls needed to clear and convert this level for upward momentum, while bears were capping progress.
- Traders were advised to remain patient for a clean directional play, as the market lacked a clear edge during this phase.
- PKB Long Setup: Noted the potential for a PKB (Peek-a-Boo) setup, highlighting a structure above the prior low. VWAP was identified as a critical hurdle for bulls to overcome, with a potential target of 6135 pivot.
- Educational Resources: Shared a glossary link to explain the PKB strategy further, underlining the educational support provided to traders.
Afternoon Session: Closing Developments and Notable Events
- MOC Imbalance: A $1.1 billion Market On Close sell imbalance was reported, signaling end-of-day selling pressure.
- FOMC Preview: Traders were reminded of the FOMC presser scheduled for the following day, underscoring the importance of staying informed about potential market catalysts.
- Key Takeaways:
- The Cycle Day 1 projections were validated as accurate, with multiple levels and zones fulfilled.
- The Daily Trade Strategy continued to deliver reliable insights, earning praise for its precision.
Community Engagement and Final Thoughts
Throughout the day, PTGDavid fostered an engaging environment, responding to trader questions, sharing insights, and providing clear, actionable strategies. The tone remained professional, yet approachable, emphasizing collaboration and trader education.
As the session closed, PTGDavid highlighted the importance of consistency and disciplined risk management, leaving traders well-prepared for the next day’s opportunities.