Below you will see the screenshot update to the trade that was highlighted in this morning MDA SnapShot in the E-mini S&P that was, at least, a profit of $400 before fees, depending where you got in. 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. To get these updates sent directly to your inbox, please subscribe for free HERE. To see all MDA updates visit my blog page HERE.
Published 2/19/16 9:38 am central
We were able to capitalize on the negative morning and the 30 min MDA SnapShot Zone setup looking to test the 1900.00 level. As I wrote about this morning, I had a feeling that this 1900.00 pricing would be an important line for the bulls to defend, so I wanted to take off profits from our trade near or at this level and look for possible retests. We were able to catch the move pre-open and the same move presented itself right on the open. We hit 1900.00 and made a low of 1898.50 bounced higher 5-6 handles and then hit 1900.00 again. This time, the line held and has sent us back to the 1909.00 price level. We could potentially make another run on this but I think we may have some late weak shorts who sold on the 2nd test of 1900.00 that are feeling the heat and stopping out which is putting us higher.
We have been on the right side of trades this week, and the last 2 sessions seemed like a real grind on this market going lower. So we hit this level and we are rejecting it so we could see some retracement and movement back to the high volume area of 1918.00. If you have been actively trading this week and following along with the newsletter, and caught this positive trade. I would reward yourself with having an early quitting time today. Yes, you may miss some profitable trades, but you definitely are opening the door to giving back these quick profits we made to scratch on the day or even worse going negative on the day. Take advantage of the fact we were able to make money today and do it rather quickly and with essentially no heat (trade going against us) and enjoy your day and start your weekend early. trading is as much mental as it is risking capital. If you can’t walk away with a positive day because you think you didn’t squeeze enough out of the market and need more, I think that you ultimately will be doomed to fail in the long run. I like to take what I can when the market gives us and then get out and not expose myself to further risk.
I would be happy to share more ideas on this market as well as any other market you may be interested in. You just need to be a client of mine and I do not mind doing that. Here are some links to check out over the weekend. If you are not working with me I encourage you to open an account so we can start doing these trades in real-time. My goal is to educate followers so they can make these decisions on their own. If you just do not have the time to do this, please let me know and I can explain some other options for you.
- Market Action Scanner Trial: http://buff.ly/1KHi7jv
- Market Dimensions Advisory Blog: http://buff.ly/1JIbxOS
- Online Application: http://buff.ly/1QuSVBd
30 Min MDA SnapShot Chart Highlighting Trade this morning: (click image for larger size)
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