Aug 232012
The ES opened in a down trend partially fueled by an increase in jobless claims. Price worked it’s way down to the DTG 03 level and then the DTG 01.75 level before finding a low for the morning. Unfortunately price action and order flow didn’t unfold well enough to get a good order flow setup long opportunity. By the time the ESreached the morning low, it had trended down over 12 points from yesterday’s close. The pullback into the DTG 06 level provided a short opportunity with the morning trend.
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