PTG Daily Trade Strategy 7.28.16

Commentary, News, Technical Analysis

Since crude prices hit a year-high above $52 a barrel in June they have slipped almost 20%, leaving them on the cusp of a new bear market. EIA data on Wednesday unexpectedly showed a 1.7M barrel rise in U.S. crude inventories vs. what had been steady declines in previous weeks. “The improvement in oil fundamentals remains fragile and continues to feature large offsetting forces,” Goldman Sachs said in a research note overnight, but predicted oil prices to remain in the $45-$50 range until mid-2017.
In Asia, Japan -1.1% to 16477. Hong Kong -0.2% to 22174. China +0.1% to 2994. India +0.7% to 28208.
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude -0.2% to $41.82. Gold +0.9% to $1347.
Ten-year Treasury Yield flat at 1.5%
(Source: Seeking Alpha)
  Economic Calendar

   PTG Trading

“The Song Remains The Same”…Led Zeppelin Even as the FED keeps interest rates unchanged. Some intra-day volatility has created decent trade opportunities but has not moved the needle of Average True Range, which is currently 13.35.
Today is Cycle Day 1 (CD1)…Norm is for some magnitude decline, but with the current multi-day range showing no particular direction bias, we simply get more of the same.
Range Projections and Key Levels: Sept (U) Contract
HOD Range Projection = 2174.50; LOD Range Projection = 2155.00; Cycle Day 1 Low = 2155.75; 3 Day Central Pivot = 2163.50; 3 Day Cycle Target= 2185.00; 10 Day Average True Range = 13.35
Algorithmic Creed: “Shake’em…Bake’em…Strip’em and Rip’em”…This is simply the new trading world order we live in folks…So get used to it…Gotta “Think Like an Algo”.

***Note: The odds highlighted are NOT predictions or trade recommendation rather a guide based upon historical observed occurrences.
TargetMaster STATX
   Today’s Hypotheses: Sept (U) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels. We will identify specific trade levels in Trading Room.

Scenario 1: IF price penetrates and converts 2168 to upper support, THEN upside potential measures 2174.50 – 2179.50.
Scenario 2: IF price violates and converts 2152 to lower resistance, THEN potential downside measures 2146.50 down through 2135.50.

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.”

 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. PTG Website (PTG) and/or PTG Daily Trade Strategy (DTS) 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 PTG Website or DTS. The past performance of any trading system or methodology is not necessarily indicative of future results.

MrTopStep Group


Follow Us On Facebook and Twitter For More Intra-Day Market Updates! (@MrTopStep)

Dont Forget To Subscribe To Our YouTube Channel!
Sign Up Here:

(Visited 9 times, 1 visits today)

Leave a Reply