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Below the first update, you will see the original charts showing buy/sell zones
Published 8/2/16 – 9:13 am – Short Position Filled partial exit
I just wanted to give an update on the short ES position. There were 2 potential areas to get short. The hypothetical short I wrote up on the open with an uptick open with a sell-off. Or to sell the zone.
We are finally moving through the lows and moved through the 2154 Market Action Scanner Daily Low I mentioned and are approaching the 2152 MAS Daily Bottom. I would use this push lower near these prices as a partial exit as trail your stop on remaining positions to break even.
- Short @ 2158.50 on lower sell zone (potentially higher if you played hypothetical on chart)
- Low @ 2152.50 (+6pts or $300 per point before fees
Updated Chart 8/2/16 – 9:49 am (showing partial exit and updated risk)
MDA SnapShot 30 Min Chart:
Published 8/2/16 – 8:27am
MDA SnapShot 30 Min Chart: Showing Morning Levels Zones, write up and hypothetical move
Here is the SnapShot for today 8/2/16. We are on the bottom end of the 4-hour range I pointed out Friday as well as mentioned yesterday. We highlighted potential sell zones yesterday and a spot to sell leaning on previous levels. Today, we are seeing that we were lower in the overnight on news out Japan and the UK. These levels as highlighted on the SnapShot Chart, have a lot of volume put in over the last sessions. On Market Action Scanner, we are seeing the SP odometer slightly turning red bearish and we are below the most recent updated 240 min levels. We are going into this support zone again, but we have more weakness than previously seen. So will this be the time that we break lower and touch 2150? We have the Market Action Scanner Daily POC @ 2155 and bottom @ 2152, bears need to close below that in order to take control. Otherwise, we will bounce and hit the 2168-2170 levels again.
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