Another awkward session for futures. Our ES call worked, although just enough to hit the first target initially. Then a similar setup on the NQ swept twice before working. See both sections below for a deeper recap.
Net ticks: -9 ticks.
As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:
ES:
Triggered short at 1550.25 at A and hit first target for 6 ticks. It then stopped the second half over the entry before proceeding to fill the gap and cross the Value Area:
NQ:
Just a reminder that we use half points for ticks on the NQ and not the quarter point measurement that the exchanges switched to in recent years. This allows us to use 6 ticks as a key target as we do on the other contracts. It also keeps the value of a tick at $10, closer to the value of a tick on the other contracts.
Triggered short at A at 2778.00 and stopped initially. Triggered again 5 minutes later and stopped again. Triggered again and hit first target for 6 ticks, then stopped the second half over the entry:
