Jun 042012
The ES headed straight towards the DTG 81 level after the cash open, bouncing off and moving quickly down . Unfortunately, the action was quick and I was unable to capitalize on the opportunity. As price entered and worked the DTG 73.50 level, the 10am EST Factory orders report became a wild card for price action. The factory orders missed big and price immediately sold off through the the level. Over the next 15 minutes or so, price was able to climb back into the DTG 73.50 setting up the possibility for short trade opportunity which is today’s example trade.
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