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: http://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)
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