Wednesday, 15 June 2011

Just when everyone thought it was safe going back into the water

As an Aussie, I'm always looking for those dangerous things that lurk under the water.

Yesterday they were all playing 'Happy Days are Here Again'. Today China showed some more of its cards and the market reacted. The ES was down when I woke up and had the For Sale sign out all morning here in London. I was trading the DAX, ching ching, more bang for my bux. It's just before RTH as I write this and there has been no rotational trade so far, although we are sitting on the VAH of two days ago so I'm not trading the ES Gap trade unless I see that order flow has reversed upwards, though there may be a scalp in the bounce off the VAH.

VAH held and there was a nice ES trade after a bounce off the POC of two days ago. It started as a scalp but as it went up through 1272.75 and hit the zipper, it was clear that there was more profit in it on the upside.

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