Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing the MDA SnapShot levels with potential buy and sell zones for you to consider executing starting your trading day. If you would like to further discuss these trades do not hesitate to contact me directly. If you are not getting these updates sent to your inbox each morning, please subscribe HERE. To see all MDA updates (morning & intra-day levels, trade recaps, educational material) visit my blog page HERE.
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Published 6/23/16 8:34 am central:
Yesterday we saw us test the recent high @ 2091.50, we had a nice long trigger that could of positioned you to take advantage of this move. As we rejected to make new highs, we traded down and tested the 2076 price level with us unable to break 2075 at the close. We gapped open higher with us trading back around the high volume area we have see this week near 2083, which is in line with the Weekly POC as well as the Daily Top zone. With the Brexit vote taking place there is a lot of uncertainty and volatility hitting the markets. Some currencies are hitting highs they have not seen in quite some time. The Crude Market Traded back to $50 off of yesterday’s strong sell off and the ES market made a high @ 2102 which is in line with the Weekly TOP we have been point out. So if you were long and holding a target order at that price you would of been filled.
We have new levels formed near these highs, and it appears that we could easily sell off and find support @ 2082. However, with the TAS navigator in such a strong bullish uptick we may want to see if we get a move to the highs first and a potential rejection. The TAS navigator on the 30 min chart is magenta meaning that there is potential exhaustion.
My recommendation would be to trade with smaller size today due to potential extreme volatility don’t be afraid to take smaller gains or scratch out of trades if they do not appear to go in your favor. Don’t risk the gains you have made on a day that there is a lot of uncertainty and technical levels do not hold the same weight.
Click Images for larger new window:
Market Action Scanner: S&P
MDA Grid Levels: ES (people ask for my levels on other time frames, these are them)
MDA SnapShot 30 Min Chart: (these are the 30 min grid levels on a chart)
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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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.
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