A winner and a loser for nothing interesting as we had another dull, choppy session early. Usually, I retake a trade a second time, and the ES would have worked the second time, but I passed on a Friday. See ES and NQ sections below. In the end, we went nowhere on 1.7 billion NASDAQ shares.
Net ticks: -2.5 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:
ES triggered long at A at 1883.25 and stopped, would have worked the second time, but I passed, and note that the exact high is the UPT:
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.
NQ triggered short at A at 3577.50, hit first target, adjusted the stop twice and stopped the second half 4 ticks in the money: