Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot levels with potential buy and sell zones for you to consider executing on the 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.
Published 3/17/16 8:09 am central:
Traders,
We had a wide range in the overnight session as the world digested the FOMC meeting yesterday and the announcement to keep interest rates unchanged. This has led to many professionals with-in the investing world to question Yellen and the Fed’s decision. To find more about this simply 20-30 minutes reading Bloomberg news and other reputable outlets that report on these events. The announcement did send the ES market higher and created a bit of volatility but the ES market never was able to break below the 2000 levels and traded higher into the 2020’s. The major movers were the dollar selling off and hitting lows we have not seen for quite some time and seeing gold surge higher. Days of large fundamental news, it is sometimes best to just let the dust settle and then use our technical analysis to try and find high probability trades. Fundamentals will always trump technical and that is why I tend to be flat during these reports. Or have pre-determined levels of admitting a trade is wrong if holding a position.
Taking a look at today’s session. We had a high of 2027.25 and a low of 2005.75 in the overnight. with us trading between 2014-2008 the past few hours. This is where our buy/sell zones are coming into play. Looking for momentum to break through this level. The bears will be going against the grain as you can see on the chart there is a quite a bit of volume built up on the TAS market map @ the 2007 price level. The 200-period moving average is also sitting there too. On the TAS Navigator we are beginning to see red bars, which is a bearish confirmation, however, this is a very short-term time frame. We need to remember that bulls are in control until we really break the 1991.00 level. If you look at the Market Action Scanner, you can see that this is confirmed with us still above the Daily Top level and essentially sitting on and being above the 240 min Top. Also the SP Odometer is showing that all time frames for ES are green bullish.
If we break through the buy zone we could see the market trade to the 2025.00 level. This is near the POC from that previous zone we had. We also can see on the chart that a lot of overnight volume traded there as well.
Below you see the 30 Min SnapShot Chart, Market Action Scanner and the Economic Calendar for today
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
Economic Calendar
Subscribe to Market Dimensions Advisory – Free Edition
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading.
Market Action Scanner
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
Risk Disclosure
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.
THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.
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.
