Day trading seems easy when price bounces off the back of the first 3 DTG levels the ES reached. After the cash open’s expected initial volatility, the ES started climbing straight to the back edge of the DTG 50 level. Order flow was signaling a short, but the timing was a little risky because of the 9:55am EDT Consumer Sentiment report. The Sentiment number beat expectations but it didn’t spur the bulls to continue their morning rally. An additional order flow short opportunity unfolded about 5 minutes after the news. The ES then tumbled to the back edge of the DTG 46.75 level and unfolded into several long opportunities which are today’s example trade.
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