Sep 262012
This morning opened with uncertainty over whether or not fear would kick back in and drive prices lower. I posted in chat this morning that if the S1 area was broken, fear could kick in and volatility pick up. Once the ES did break the S1 area, price dropped fast; through the DTG 28 level and bounced off the back of the DTG 24 level. Unfortunately, the bounce was quick and did not provide an order flow opportunity to help with a long entry decision. The trade plan then became to look for a short opportunity on the pullback into the DTG 24 level. Two order flow opportunities did setup, but today neither one worked out as the ES retraced most of it’s earlier move down.
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