Jun 132012
The ES fell into the DTG 12.50 level after the PPI and Retail sales news this morning where it remained until the cash open. Price then worked it’s way down to the DTG 07 level, but I found myself flat footed and hoping price would test the 07s. This caused me to totally miss the 12 point move to new highs. The next trade opportunity was from the DTG 20 level which encompased yesterday’s close =1320 and the overnight high = 13.25. After the first test of the DTG 20 level, the next retest became critical to holding the high and turning the market as detailed in the annotated chart below.
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