Below you will see the screenshot update to the trade 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 2/10/16 9:54 am central
Here is a chart recapping the MDA SnapShot ES trade this morning. We got long on the 30 min POC in anticipation for another run at the highs. we did take some heat pre-open and during the opening session near the 30 Min Bottom level but that held. We grinded higher just before the crude storage announcement, which was a bullish miss and caused us to move higher and hit the daily POC level. The Daily POC level was my first target area. Since then we have retraced. If still long, I would move stop to entry price. If looking for a short, I would look to sell the 1857 level as it tested a couple times and could move down to 1850 easily if breached. Especially if we have some late longs on that move higher.
Here is an updated Chart of the trade showing the +13.00 pt move we caught. Please feel free to reach out to me if you are interested in following along with these trades.
MDA SnapShot: 30 Min Chart – (click for larger view)
Subscribe to Market Dimensions Advisory
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process.
Market Dimensions Advisory includes an email newsletter subscription.
Market Action Scanner
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.