May 162012
Price bounced off the DTG 31.50 after the cash open with little order flow clues to take advantage of the market turn. Order flow was a little kinder with the DTG 37.50 level, providing a couple opportunities to enter short. They turned out to be tough trades however because volume soon dried up and price soon became “loose”; easily wipsawing up and down 3 or 4 ticks at a time. After a couple rotations around the 37.50 level; price could have gone either way or no way at all. It was just a coin flip that it finally broke down providing wins for this level.
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