Below you will see the screenshot update to the Short position that was highlighted in this morning MDA SnapShot in the E-mini S&P. If you would like to follow these trades in real-time and have the ability to speak with me about them. Please subscribe to the newsletter and contact me directly.
Published 1/29/16 10:03 am central
Here is an update to the entry and exit we had on the MDA SnapShot this morning. we were able to get long on that move higher. I highlighted getting long @ 1901.00 but traders who believed in the bullish idea today were able to jump start that idea with buying @ 1894.00 and were rewarded even more with the momentum through that Top range. The 1910.00 previous high target I called was hit and we made a 1911.50 high. When exiting these positions sometimes you just need to pull the trigger at market to get out because there is a lot of volatility bouncing around. You can’t get upset about losing out on a tick or two. just get out.
In addition to the updated Chart, I have also included the profile zones from Market Action Scanner to give you a look at some longer term levels. For those looking to participate on the long side, I would consider buying on our first break through of 1900.00 that could hold or we could see a bounce from that. If we spend a lot of time there or bounce off it several times then wait for a lower buy. Bounces typically only work a few times.
I think bulls are in control until we get back below 1880.00 I know that is far away from here. The day could present some selling opportunities, but if we reject the Daily top area, we could see us move back toward the daily POC. Which would have us going through both the 240 min and 60 min Bottom levels and that would be the sell zones.
30 Min MDA SnapShot:
Market Action Scanner: Profiles longer term zones all markets. My approach works on all markets I just happen to showcase ES. Trial that here: http://buff.ly/1KHi7jv
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