Jun 132013
 

trade_130613

The morning’s economic numbers were not too good and not too bad; in the sweet spot to not add to the speculation of the Federal Reserve reducing QE3.  Their meeting is next week, so it won’t be long before we find out if there are any philosophical changes among the members…  The ES was already trending up into the morning session and a break above yesterday’s closing price of 1610 pre-market got me long to ride the uptrend for as long as I can.  It’s 2pm EDT now and price is still grinding higher without any trend breaking pullbacks.  I spent the morning looking for solid order flow opportunities against my position but the couple that showed up were weak due to low volume whippiness.  An uptrend line under the swing lows became my trailing stop and has yet to be broken.  Because I was looking for order flow opportunities against my position, I did not see the trend continuation opportunities that unfolded on retests of the uptrend line.  Today’s example trade was once such opportunity.  The ES pulled back into the DTG 16.75 level and unfolded into a couple order flow long opportunities.  

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