Below was the MDA Snap Shot update that went out this morning @ 8:17 am
The last couple sessions we have seen a sharp decline in the E-Mini S&P market after the Fed Rate hike. Today we are in a position where I think we could go either way. Break lower and test new lows. Or Move higher and move back toward the 2050 pricing area before the end of the year. Looking at the short term 30 min ES chart. We are seeing that we are right at the fair market value and is showing we could definitely go either direction as well from a technical setup.
Below you will find the MDA Snap Shot showing the potential long entry as well as the potential short. The idea would be to work both these order types and if one get’s hit the other would be the risk on the trade. This trade is risking roughly 8.50 pts so not much risk. With this being a holiday week, we could see reduced volume as well. So make sure to keep an eye on the volume and if you are trading multiple positions, do not hesitate to take risk off quickly so it becomes a free trade scenario. Upside target looking to catch momentum through 2025.00 area. Downside, look for a potential position add or new entry short @ 1992.00
MDA Snap Shot – dt Pro 30 ES Chart:
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