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 2/3/16 9:35 am central
The bullish move was a head fake and people who were long got stopped out. However, as many of the traders I work closely with, and the way our levels work. We at times have stops as reversals. As quickly as this market was moving after the open it felt like it was one of those times to do that. If you did, it paid off as you were able to get back those losses on the move lower.
For those who played the short setup as I outlined before the. We just hit my targeted pricing level I called out on the Daily POC of 1874.75 as the low. At the time of me writing this email. Stock inventories came out and sold off. with us making a low @ 1867.00
This was a very quick turn around and that means a lot of longs got caught short.
Here is an MDA 30 Min chart highlighting the Short Sale move we called out this morning. I would look to offset this trade as it moved in our favor very quickly and call it a day. There could be some buying momentum at some point today that pushes back to the 1890 level. If looking to hold a contract or two adjust risk to your entry or lock in a profit.
Hopefully people were able to take advantage of this move. If you missed it, please reach out to me and I will explain how you can get the tools to watch on your own or how I can update you directly on trades.
30 Min MDA SnapShot Chart: Click chart for larger view
Market Action Scanner: Chart: Click chart for larger view
Original Update Showing Sell Zone
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