One winner to start the month, which will hopefully be a better month than January turned out to be. Volume was a solid 2 billion NASDAQ shares, and we had a clean (though limited) winner in the ES. See that section below. Also, note the perfect Value Area play on the QM oil contract.
Net ticks: +2.5 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:
ES:
Triggered long at A at 1504.25 over R2, hit first target for 6 ticks, and stopped second half under entry:
QM:
Note the clean Value Area play from A to B:
