Apr 082013
 

 

trade_130408

Expectations were for a quiet morning given no significant economic data was schedule for today.  The ES was able to climb about 6 points overnight above Friday’s close and started moving down about an hour before the cash open.  As I posted in chat, I thought the gap would be closed sometime this morning.  Order flow had setup pre-market for a nice short opportunity and although I was late to recognize, there was still enough room for a decent trade back to Friday’s close which was reached about 15 minutes into the US cash session.  Price continued down into the bottom of the DTG 44 level where the order flow long opportunity unfolded which is today’s example trade.   The volume and volatility was low and price moved down more providing a second opportunity to get long.

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