06/05/2013 Example Trade

Plenty of reports this morning to give the markets potential reasons to move.  All economic numbers are being weighed against the Fed’s potential changes to QE.  The pre-market reports started the ES rotating above the DTG 20 level.  After the 9:30am EDT cash open, the ES double bottomed on the front edge of the DTG 20 level and then unfolded into a long order flow opportunity.  I thought for sure the ES could close the gap back to yesterday’s 31.25 close for a good large target.  It was not to be; price was very volatility, whipping back and forth 5 points at a time before finally topping 3 points short of yesterday’s close.  Thus today’s example trade was good for small targets only.

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