I released a new MDA SnapShot today in the March Euro currency contract. This update was emailed to subscribers of the Market Dimensions Advisory. The goal is to highlight the tools and charts I use here at Daniels Trading to help pinpoint trading opportunities. In addition, to the opportunities presented the goal is to educate traders on what I use in hopes that they can begin using the tools and developing their own trading ideas. If you want to take hold of your own trading and generate your own ideas or find good technical entries based on your fundamental ideas, I encourage you to join my Market Dimensions Advisory community and reach out to me here at Daniels Trading. Have a look at my MDA Blog archive here to see what we have done the past month: https://www.danielstrading.com/market-dimensions-advisory/
Here is the update that went out to subscribers today 1/6/15
The volatility continues. We are seeing the indices, energy markets and currencies get hit with volatility at the beginning of the year and it is mostly to the downside. When we see markets trending sharply in one direction it can be tough to try and pin-point entries to join the trend or find that reversal point. Looking back on a chart after moves it is easy to say, why didn’t I buy there or sell there, but when the right side of the edge is unknown, easier said than done. I typically, if my overall outlook is bullish or bearish try to find a bounce or retracement to get filled on a directional trade I am wanting to take. However, so does everybody else and sometimes it doesn’t really happen. So what do you do? I typically start whittling down time frames to see where things may start to change.
In this MDA SnapShot I am looking at the March Euro. We have had a strong downward move in this market. By using our NEW DT Market Action Scanner you can see we are well below the weekly, daily, bottom boxes and near POC (point of control) on the 4 hour. We are beginning to maybe see a breakout on the hourly and on the 30 min. We are now seeing levels for perhaps a small reversal. On my MDA SnapShot Chart of the 30 Min Euro, I have highlighted a small opportunity to get long with small risk. As well as, for those bears, a new line to try and get short on a momentum entry. For example purposes and perhaps oversold conditions lets take a look at the long entry setting up.
MDA SnapShot 30 Min Chart:
DT Market Action Scanner: (Inquire with me on how you can gain access to our exciting NEW tool)
Subscribe to Market Dimensions Advisory
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process.
Market Dimensions Advisory includes an email newsletter subscription.
Market Action Scanner
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.