A bad start to the month as our entries got swept several times, proving that the entry points were valid, but getting us nowhere. See ES and NQ sections below.
Net ticks: -15.5 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:
Triggered long at A at 1848.50 and stopped. Triggered again and stopped:
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.
Mark’s call triggered short at 3632.50 at A and stopped on a sweep. Triggered again, hit first target for 6 ticks, second half stopped 5 ticks in the money: