Tough, tough trading day for our DTG levels. The day turned out to be an up trend day. The levels were respected, but at the front edges without much order flow to determine a good entry. The ES double bottomed at the front edge the the 94.50 DTG level shortly after the cash open. About 30 minutes later, it tripple bottomed offering traders much more alert than I an opportunity to catch the low of the day. As price started moving up, news started circulating about China being willing to support their economy; price started moving up quickly, respecting the front edge of the 02.50 DTG level before rocking up about 7 points through the level. The pullback into the level provided the best tradable opportunity of the day and is today’s example trade.
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