Feb 062013


Discretionary trading went a little better today than yesterday.  There was no major reports scheduled for today and little media focus on earnings.  Volatility has been picking up the last few days, but expectations for today was a range similar to yesterday.  I had posted in chat that my expectations for the potential low of the day would be 1398.75 to 1401.75.  Much to my surprise, I found the ES testing the low side of that range half an hour before the cash market open.  Order flow setup nicely for a long opportunity which I could not ignore.  After the cash open, the ES made a weak attempt to test the Globex low but the buyers came out in force.  This was a second chance to play a long from the lows and today’s example trade.

Below is member only content. Not a member?  Subscribe and join the discussion!.

Click here to become a member

Sorry, the comment form is closed at this time.