Sunday 8 July 2012

NFP Price action

The NFP news event on Friday drove price down on GC, CL and ES. However, the ES rallied 10 points over the last 90 minutes of trading.

On the Thursday, I had seen very aggressive selling early on for all 3 instruments and this should have given me an indication where price was headed over the next couple of day.  I do not trade on NFP day, so I was just watching.

I missed a good short on Thursday on ES and also CL after seeing the aggressive selling.  CL has since fallen 400 ticks right to where I expected it to.

I will be looking for the better supply levels to short on all 3 instrument on Monday. Here are some charts over the last 2 days.






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