Apr 052013
 

trade_130405

The employment number missed big sending the ES down sharply pre-market.  Thus my initial bias was down coming into the cash open.  Volatility was high as the ES double bottom at the DTG 33.25 level shortly after the open and swung through the DTG 35 level.  I was looking for a short and there was a weak order flow entry on the retest of the top of the DTG 35 level.  I knew the entry opportunity was not clean, but thought price would retest the LOD and move through.  However, that’s not what happened.  The ES formed a long order flow entry opportunity after bouncing a tick short of the LOD and started moving higher.  Thus the market was telling me it wanted to go higher so I needed to close the short and reverse to long.  The long is today’s example order flow opportunity.

 

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