Jul 102012
It’s always nice when the market gives us a gift trade early in the trading session. After the cash open, the ES tested the R2 pivot area in the DTG 55.25 level. The institutional buyers tried hard to push price through but couldn’t, setting up a potential trapped trader scenario and today’s first trade opportunity. The volatility was low and price didn’t have much room back to the R1 pivot area (about 3 points), but for what ever reason, volatilty picked up and price dropped through the R1 area.
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