The ES gapped down below the 20-day moving average line at the open to trigger some selling pressure. The price was pushed down to fill the gap at 1888.75 and than made a fake breakdown of the joint support at the 1888 level and the 200-day ema line on the 240min chart.
The support was broken by 1.25 points and that brought the sellers rushing into a trap. When the ES regained control of the 1900 psychological support line the shorts were badly squeezed.
The price eventually rallied 40+ points from the low and closed up 15 points for the day. The volume was heavier and price action was bullish.
For those following Nat’s system trades the price started at her buy level and ended at her sell level, for a very profitable trade.
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