A solid day of trading the futures even though volume remains on the light side (it closed out a little better at 1.7 billion NASDAQ shares, which probably explains the afternoon opportunity). We had two winners in the ES and one in the NQ. No losers today. See those sections below.
Net ticks: +16.5 ticks.
First, we will take a look at the ES and NQ with our market directional lines, Seeker, and VWAP:
I think in some cases when the trades trigger, hit first target, and adjust quickly, I’m going to start with the 5-minute chart of the day with Levels so you can see our usual picture, but then I will do the trade recap on the 1 minute chart so it is easier to see.
5 minute chart:
Now view the 1-minute chart below. Mark’s short triggered at A, finally hit first target at B, he took off another piece as it hit S2 at C and stopped the final over 1302 at D for 7 ticks net gain on the trade.
Later in the day (below), I then had a late day trigger out of the cup and handle at E, hit first target at F, stopped last piece under 1316.00 at G for 7 ticks:
Remember that we use half points as a tick on the NQ. 5-minute chart:
Now, on the 1-minute chart below. My trade triggered short at A, hit first target at B, lowered stop over entry and stopped second half for a tick loss: