Jul 242012


Interesting day.  I thought today would be a low volatility day with light report numbers this morning and no market moving news out of Europe overnight.  Now that the day US session is over, there still doesn’t seem to be a concensus of why the markets moved so much today.  UPS lowered it’s earnings forecast and the media is hyping potential debt repayment issues with Greece, but problems with Greece were discussed over the weekend.  Anyways, the day turned into an unexpected trend day, cutting through three DTG levels before finding the low of the day.

Price action started out slow this morning before it began it’s tumble after 10 am.  Price dropped through the bottom of the DTG 36.50 level and waiting for the 2nd push into that low setup today’s example trade opportunity.

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