Oct 152012
The ES moved up strong overnight on Chinese economic data that was not the disappointment expected. By the time the US stock markets opened, the ES was ready for a pullback; which it did into the DTG 24 area, setting up today’s example trade opportunity. The overnight trend pullback eventually went deeper and through the DTG level, touching the next level below. Depending on specific entry prices and stop tightness, some trades may have been stopped out before the ES resumed the trend to new highs. There were several more order flow entry opportunities later from the DTG 32 level which provided enough rotation for at least small targets.
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