Finally a setup and trigger, worked to first target and the second half stopped over the entry before a big move. See ER section below. There was also a nice setup on the NQ over lunch for the gap fill.
Net ticks: +3.5 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:
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.
Note the nice inverted cup and handle that lined up against the LPT over lunch and then triggered and ran to the gap fill from yesterday:
ER:
Triggered short at A at 929.50, hit first target for 8 ticks, and stopped the second half over the entry:
