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Home / Futures Blog / A short play in the ES with help from the EIA Storage report – 3/2/16 Trade Recap

A short play in the ES with help from the EIA Storage report – 3/2/16 Trade Recap

March 2, 2016 by Andrew Pawielski

Below you will see the published updates from the Market Dimensions Advisory showcasing the positions that were executed following the MDA SnapShot levels that were released from today’s session. This content is from the “Trading Updates/Recaps” that go out to MDA Subscribers. If you would like to follow these trading alerts in real-time, receive them in your inbox and have the ability to speak with me, you will  need to subscribe to the newsletter and become a client of our firm. To get these updates sent directly to your inbox, please SUBSCRIBE HERE.  To see ALL MDA published updates (trading recaps, daily levels and educational trading material), visit the MDA BLOG PAGE: HERE.

Published 3/2/16 9:32 am central – Notification of entry and potential first profit target level

Traders,
We were able to get short this ES market following this morning’s level @ 1972.50. We challenged the 1968.00 level I mentioned this morning as the true line in the sand for shorts to break. That held with us making a low @ 1968.25.

The EIA Report just released and is showing a build, BEARISH . We are starting to challenge the lows again @ 1968.25.

If we break this level I would consider partial profits. I would look to adjust risk to breakeven levels if it holds.

Published 3/2/16 9:44 am central – Chart of Trade showing profit taking and NEW LEVELS

Traders,

Here is the updated chart highlighting the short position. Even with the negative crude report we moved lower but not with much urgency. I think the overall bulls are comfortable and holding strong. Here is an update of the short position and the offset just below the 1968 level I pointed out.  This is a partial exit if you are a multi lot trader. Put remaining risk at breakeven.  I do think we could see some shorts squeezed up and a move higher this session so don’t be afraid to take profits. It is also good emotionally to not to just sit in a market that is chopping.

We did get updated levels with a buy zone @ 1976 and the sell zone @ 1969, which we are near and or below. The buy zone if hit could put some pressure on shorts and push us back above 1980.00 consider that zone for a day trade.

30 Min Chart highlighting position: (click for larger image)

Source: dt Pro
Source: dt Pro

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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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Market Dimensions Advisory (MDA)

About Andrew Pawielski

Since 2007, Andrew has been a series 3 registered Senior Futures and Options Broker with Daniels Trading. During this decade plus tenure, Andrew has worked with traders in all different strategies, capital sizes and experience levels throughout the world.

Having this professional brokerage experience and being a futures market participant led Andrew to found the educational trading service Market Dimensions Advisory (MDA). MDA showcases Andrew’s expert technical trading analysis using the TAS MarketProfile tools and other highly regarded volume and order-flow based trading indicators. This professional trading service is a compilation of all Andrew’s trading experiences, concepts, methodologies and real-time trading ideas.

It is Andrew’s goal to empower traders, and through his services, move them from fear to familiarity through frequency.

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Risk Disclosure

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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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