Update to our MDA SnapShot E-mini Position that was filled today 1/17/1. Below you will see an update to risk and the development of the position. We sold March ES @ 1960.00 at the time of this blog post (1/7/16 – 2:16 pm central) the market is trading @ 1938.50. This is +21.50 pts or $1075 before fees on this trade.
Published to subscribers of the Market Dimensions Advisory 1/7/15 @ 12:19 pm central
I sent out my ES commentary and a potential Short entry earlier this morning. When writing that alert, we hit the 50% retracement level and sold off 8 points. Bulls gained some support and began making a run again at the 50% level and filled our working order. This being the second time through that level the bulls had a bit more momentum behind them and we traded higher. We took some heat on the trade for about 30 minutes and about 8-9 pts, but our risk zone was not reached or challenged. Over the course of the next hours we have seen the trend back down I was anticipating and the development of more Sell/Buy Zones on the MDA SnapShot 30 Minute chart.
For those who took the trade from my update, I would suggest keep a close eye on this trade. If we start moving back above the green box @ 1953.50 I could see us spending a lot of time at the POC or high volume @ 1959.75 building strength to pop higher. You can also see on the TAS Navigator at the Bottom of the chart the Red Bear momentum is looking like it could flip to Green Bullish Momentum.
If you are flat right now sit tight and see what develops.
Short ES @ 1960.00
Last traded @ 1945.00 +15.00 pts or $750 before fees
Updated MDA 30 Min Chart dt Pro: (there are a lot of notes on the chart but trying to show all points discussed)
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