Here is the most recent alert from the Market Dimensions Advisory. This is an update to the Euro position we entered yesterday following the 30 Min SnapShot Chart and using our dt Market Action Scanner. This update provides a new risk level as well as a new zone to add to this position or potentially open up a new long. For those Euro bears we have also highlighted a potential sell zone too. To review the original updates on this entry, please reference them on my MDA Blog archive page here.
Update Published 1/7/15 Below:
We saw another strong sell off spilling over from China and their exchanges halting. This has added momentum to our long Euro position from yesterday. Our last update showed on the dt Market Action Scanner us breaking above the 60-minute box and looking to challenge the 240-minute boxes, which we accomplished. It appears that the short term target may be near the Daily bottom box on the Market Action Scanner, that is where I would see the next area of strong resistance. (see Market Action Scanner chart below)
Looking at our MDA SnapShot Chart on the 30 min Euro, we are seeing some updated levels for the past few bars. We are leaning against another add or new entry on this position @ 1.0890, with an updated risk level or potential short for those bears out there @ 1.0845.
Bought Euro @ 1.0775
Last @ 1.0884 (+109 pts or $1362.50 before fees)
Overnight High @ 1.0893 (+118 or $1475.00 before fees)
Updated 30 Min MDA SnapShot Chart dt Pro:
Market Action Scanner: (NEW product, contact me to learn more)
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