May 082012
There was a long trade opportunity after the cash open from the 1354 level. However rather than focus on that trade, I thought it would be more instructional to walk through my thought process as price made the low of the day. I posted in chat this morning that I framed the day’s low as 46/49. Given the momentum into the area, I was expecting a good test of 46 and with little market structure beneath; if 46 did not hold, price could reach
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