A nice day for futures with two Opening Range plays that worked and also an NQ call after the Value Area set that worked big as well. The markets gapped down, filled the gap, and closed higher on 1.5 billion NASDAQ shares.
Net ticks: +37 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 and NQ Opening and Institutional Range Plays:
ES Opening Range Play triggered long at A and worked:
NQ Opening Range Play triggered long at A and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play:
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.
My call triggered long at A at 4533.75, hit first target for 6 ticks and much more. Stopped out of the second half at 4550.50: