Update: Guest Post from Polaris Trading

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We forgot to include this morning’s guest post in the Opening Print!

Below we have our regular contributor, David Dube from Polaris Trading. Enjoy!

Our View

PTG / Taylor Three-Day Cycle

Author: David D Dube’

Website: https://polaristradinggroup.com/

Prior Session was Cycle Day 2 (CD2):  Normal Cycle Day 2 as price continued it’s consolidation between 4950 – 4975 as outlined in prior DTS Briefing 2/6/24. Prior range was 24 handles on 1.217M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Markets transition from Expansion (trend) to Contraction (range) and back to Expansion (trend). Price is currently in the “contraction-stage” and is building energy for the next directional expansion. KEY Target for the current Cycle measures 5008. IF price can Clear and Convert the 4975 – 4980 zone, THEN  this sets this cycle objective “in-play.” 

We are not in the game of predictions, but probabilities. Markets initially rejected the first attempt at the 5000 level, but the pullback has been more absorption of the sellers. In other words, long sellers have exited positions and shorts sellers (open positions) risk being squeezed out on a breakout above noted levels.

As always, PTG’s daily plan remains unchanged. Stay flexible and in-alignment with the primary intra-day forces. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 4975, initially targets 4995 – 5010 zone. 

Bear Scenario: Price sustains an offer below 4975, initially targets 4950 – 4940 zone.

PVA High Edge = 4968       PVA Low Edge = 4958         Prior POC = 4962

*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.

For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:

Link to access full Cycle Spreadsheet  > > Cycle Day 3 (CD3)

Thanks for reading,

PTGDavid

Disclaimer: Charts and analysis are for discussion and education purposes only. I am not a financial advisor, do not give financial advice and am not recommending the buying or selling of any security.

Remember: Not all setups will trigger. Not all setups will be profitable. Not all setups should be taken. These are simply the setups that I have put together for years on my own and what I watch as part of my own “game plan” coming into each day. Good luck!