PTG Daily Trade Strategy 12.30.16

Markets

The euro surged as much as 1.6% against the dollar overnight as a rush of computer-generated orders caught traders off guard. The sudden move started under $1.05 and algorithmic orders snowballed above that level, causing what little liquidity there was on the year’s last trading day to vanish. In minutes, the currency jumped to a high of $1.0653, forcing some dealers to take losses to cover positions.

In Asia, Japan -0.2%. Hong Kong +1%. China +0.2%. India +1%.
In Europe, at midday, London -0.3%. Paris -0.2%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +0.1% to $53.83. Gold +0.2% to $1159.90.
Ten-year Treasury Yield flat at 2.48%

(Source: Seeking Alpha)

Economic Calendar

Click to View Calendar

9:45 Chicago PMI
1:00 PM Baker-Hughes Rig Count

PTG Trading

Expectation yesterday was for price to balance and stabilize between 2250 – 2245 zone…Price did exactly that as the range was approximately 10 handle between 2250 – 2240.

Today is Cycle Day 3 (CD3)…There is room for price to rally for year end, though there is a huge year-end equity/bond rebalance today, so could turn out to be a choppy confused session.

Range Projections and Key Levels: March 2017 (H) Contract

HOD Range Projection = 2256.68; LOD Range Projection = 2240.82; Cycle Day 1 Low = 2243.50; 3 Day Central Pivot = 2253.25; 3 Day Cycle Target = 2267.29; 10 Day Average True Range = 11.93

***Note: The odds highlighted are NOT predictions or trade recommendation rather a guide based upon historical observed occurrences.

TargetMaster STATX

Today’s Hypotheses: March 2017 (H) 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: Price will need to convert 2248 to upper support for rally to unfold.

Scenario 2: Violation and conversion of 2240 to lower resistance may force weak longs out by day’s (year) end.

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. 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.


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