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 4/28/16 8:33 am central:
Traders,
After pushing up and making new recent highs in the ES shortly after the FOMC meeting volatility the Bank of Japan sent some negative news into the markets by voting against more stimulus. Thus causing their markets to sell off as well as the US markets. This translated into about a 20 pt move at the time, and we have been trading in 2080 to the low 2070’s most of the morning.
Looking at Market Action Scanner, we are still neutral 3-time frames except the 240 min which is bearish red for the last 3 bars. We need to see where we put in volume today and where we close to start getting new levels. The 2100 upside Top Level near the weekly, daily and 240 min, is the bull target to break and close above and it appears to be quite the wall to get too.
On the SnapShot 30 min chart, we see the large move from the overnight sell-off. This caused about a 7pt gap of low volume from 2085-2092. So we will see if we can break through our buy zone and if the price will easily trade up through that level.
we had some fundamental news released this morning that you can read up and review on the economic calendar on dt pro.
Bloomberg: Five Things You Need to Know to Start Your Day
Click Below Images for larger new Window
Market Action Scanner: S&P
30 Min SnapShot Chart: Showing Levels
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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 Dimensions Advisory – Free Edition includes an email newsletter subscription.
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.
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 trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.
