Apr 042012
The first time down into the 91.75 level could of easily lured a long entry around the S2 (it did for me). Price was respecting the S2 area and buying was strong. However, before a new 6PF bar started, price tested the bottom again and the sellers came in with force which turned from net buying to net selling. At the time, I was thinking those sellers were trapped and the subsequent rotation seemed to support the long trade. Turns out the sellers weren’t done and they took out the lows again.
Today’s example trade is a
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