PTG Daily Trade Strategy 8.11.17

Commentary, News, Technical Analysis

In Asia, Japan closed. Hong Kong -2%. China -1.6%. India -1%.
In Europe, at midday, London -1.2%. Paris -1.1%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.2%. Crude -1% to $48.11. Gold +0.3% to $1293.60.
Ten-year Treasury Yield -2 bps to 2.19%
 (Source: Seeking Alpha)
  Economic Calendar

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   PTG Trading

We wrote in prior DTS Briefing Report 8.10.17 “Price has notched two consecutive sessions below 3 Day Central Pivot Zone which typically is a bearish signal suggesting a Change of Character (COC).” 
Price continued it’s bearish selloff dropping 41.50 handles as Volatility Products spiked higher causing margin calls against short-vol players.
Today is Cycle Day 2 (CD2)…No recovery bounce in overnight session, so there is potential for continued margin selling, forcing price lower before finding a natural low.
Average Range on CD2 is 14.32 with Max Avg 22.47.
Range Projections and Key Levels: September 2017 (U) Contract
HOD Range Projection =2443.85; LOD Range Projection =2424.90; Cycle Day 1 Low = 2432.75; 3 Day Central Pivot = 2464.00 3 Day Cycle Target = 2451.00; 10 Day Average True Range = 13.10

***Note: The odds highlighted are NOT predictions or trade recommendation rather a guide based upon historical observed occurrences.
TargetMaster STATX
   Today’s Hypotheses: September 2017 (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.

Bull _ Bear Scenarios
Scenario 1: IF price can recover CD1 Low (2432.75) and subsequently convert ONH (2438) to upper support, THEN a possible recovery rally may unfold targeting 2445 handle.
Scenario 2: Violation and conversion of CD1 Low (2432.75) to lower resistance opens trap door for further selling initially targeting 2425.00, followed by 2421.50, then 2416 – 14 extreme cycle range low.

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


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