Topic: Taylor 3-Day Cycle
Author: David D Dube’ (a.k.a. PTGDavid)
Website: Polaris Trading Group
Prior Session was Cycle Day 2 (CD2): Markets did their best at a post-holiday “relief rally”, with an opening gap and posting daily gains, though volumes were sub-par. Range was 73 handles on 1.278M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently above CD1 Low (3661.50) pre-RTH, so all that is needed for a Positive 3 Day Cycle is to trade above this level during cash trading hours, which appears likely. Market’s have given up their prior session gains, as the search for new balance continues. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3710, initially targets 3730 – 3735 zone.
Bear Scenario: Price sustains offer below 3710, initially targets 3695 – 3690 zone.
PVA High Edge = 3781 PVA Low Edge = 3762 Prior POC = 3766
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 3811; LOD ATR Range Projection: 3650; 3 Day Central Pivot: 3710; 3 Day Cycle Target: 3698; 10 Day Average True Range 118; VIX: 31
Thanks for reading,
PTGDavid
