Today’s MDA Update:
Published 10/10/17 10:00 am central:
Here are the 60 minute Bull/Bear breakouts. I use this as an indicator to what markets I want to watch and trade using the TAS market profile setups.
BULLISH Write Up:
We are seeing many bullish trades today. Yesterday, 10/9/17, we saw the Gold market appearing, today it is on here again and breaking through longer-term levels. Consider entries on this market playing this bullish response to last weeks sell-off.
I am also liking the setups on the Swiss Franc, Live Cattle, and 10yr notes. Use your charts to locate entries on those markets, but we are getting nice 60 minute setups.
There are many bullish markets today.
BEARISH Write Up:
Not too many bears showing up at this time, but the US dollar is showing up for a 60 min sell and I believe we could see this market moving back down toward the Daily POC and weekly POC levels and could be a good time to get back on these shorts.
TAS Market Profile Scanner Charts:
CLICK IMAGES TO ENLARGE
MDA SnapShot: 60 min TIME FRAME FILTERED – Bullish Breakouts
MDA SnapShot: 60 min TIME FRAME FILTERED – Bearish Breakouts
HOW I USE MARKET ACTION PROFILE SCANNER:
I start my analysis each day to see what markets are making moves on this shorter time frame to see who is breaking out, or if counter-trend trades are setting up. Once I have an idea of these longer time frames (weekly, Daily, 240min, 60min) I then use my charts with the profile tools to locate my trading entries if they match the setups we discuss. This analysis often lead to the MDA SnapShot alerts I send out in the newsletter or to clients I speak with on the phone. Stay Tuned.
For those who are new to the newsletter, or would like a refresher on this Market Action Scanner tool that I am using, visit my MDA webinar live “Recast” page below or attend the live weekly event. I start every session looking at Scanner and go through this process. We even have free trials to this tool if you are not using it.
MDA MEMBER TIP:
If you are only used to trading one market and are unfamiliar with the new markets scanner presents, use the Futures Calculator to help figure out risk/reward on the trades
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- WEBINAR Sign Up:https://www.danielstrading.com/webinar/mda-snapshot-pre-market-chart-analysis
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