May 222012
After the 10am EST news, the ES ignored the overnight high and climbed into the the DTG 23.25 level providing several short opportunities. The buyers were out in force and kept trying to push price through the top of the developing consolidation area around the R1 pivot. Finally after what seemed like hours, price tested the low side of the level and started it’s tumble provided ample room for small and large targets.
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