Mar 252013
 

trade_130325

Tough morning…  I wanted to be short below the Globex high, but the ES never provided a good order flow entry opportunity.  Within the first 90 minutes, price had fallen to my low frame of 1548.50 were it finally provided a long order flow entry opportunity against the morning trend.  The buyers tried to take price higher, but in the end, that opportunity did not work out.  As price tumbled down beyond the DTG 45.25 level and further than I expected price could go today, I’m thinking we could have a down trend and I want to short the next pull back with institutional selling.  That scenario setup as price came back towards the day’s pivot at 1547.  The selling was not as strong as I would have liked, but the trend down was strong so I thought it was worth the risk.  Soon after, a much stronger long opportunity unfolded against my open position and I had to take notice as the are could be the potential low of the day.  Thus as I posted in chat, I scratched the short and reversed to long.  The long opportunity is 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.