Oct 102012
The ES continued it’s downward trend today, crossing 2 DTG levels and rotating in front of a third. About 20 minutes after the cash open, the ES reached the DTG 31.25 level, rotated up and made a 2nd push to new lows by 3 ticks. Volatility had been low and institutional sellers were trying hard to push price down to new lows, however they were being absorbed. Price grinded for several minutes before starting to claw back up, setting up potential trapped traders if price could climb back above yesterday’s close at 36. This is today’s example trade.
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