Wow. Three stop outs, all of them great setups that failed on light volume, and then a decent winner later. See ES and NQ below.
Net ticks: -12 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:
Mark’s short triggered at 1436.25 at A and stopped for 7 ticks. My long triggered at B at 1443.50 and stopped for 7 ticks. The re-triggered hit at C, hit first target for 6 ticks and I raised the stop twice and stopped at 1446.50 at D:
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 short at 2797.50 at A and stopped for 7 ticks: