Our first round of futures trades triggered short on the spike on Bernanke’s comments to Congress and stopped, but then we had three trades that at least hit their first targets. Not much follow through though.
See ES and NQ sections below.
Net ticks: -1 tick.
First, here is a look at the ES and NQ with our market directional lines, Seeker, and VWAP:
ES:
Mark had a short under R1 at 1323.00, point A on the chart, that triggered on the spike on Bernanke’s comments and stopped, then triggered again a few minutes later, hit first target of 6 ticks, and he lowered his stop to 1322.00 and stopped the second half. Around the same area, I had a short under the 50% gap retracement, which was an entry of 1322.00, hit first target for 6 ticks, second half stopped over entry:
NQ:
Mark had an NQ short under UBreak at 2558.50 (point A), which did the same as the ES short, triggered and stopped on the news, then triggered, hit first target, Mark lowered stop to 2556.00 and stopped the second half:
