Today’s MDA Update:
Published 12/1/17 8:40 am central:
Below are the bull/bear breakouts for the 60 min time frame using the TAS Scanner. We have a handful of markets on each side.
BULLISH Write Up: (Chart Below)
Looking at WTI Crude and the Equity markets. Reference chart below for breakout levels. Equities we are being filled on 60 min tops after the open for long positions.
BEARISH Write Up: (Chart Below)
We are seeing metal markets headed lower, with us highlighting Silver market for short opportunities. Also seeing Cocoa and US 10yr notes.
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
Make sure to sign up for my LIVE MDA SnapShot Webinar every Wednesday. You will be able to see all of these tools in real time, as well as, the markets and time frames you want to watch with instant analysis. Even if you cannot attend live, sign up, as you will get a recast email of the event.
- WEBINAR Sign Up:https://www.danielstrading.com/webinar/mda-snapshot-pre-market-chart-analysis
- Webinar Recasts: https://www.danielstrading.com/mda/recasts
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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.
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