A nice day. We had a good setup early on the ES against the UPT which triggered and stopped, but then shorts in the NQ and ER set up nicely and worked well. See those sections below.
Net ticks: +29 ticks.
As usual, let’s start by taking a look at the ES and NQ with our Seeker, VWAP, and market directional lines:
Triggered long over UPT after setting that level exactly as the high of the first 5-minute bar…a great setup, but triggered at A and stopped for 7 ticks:
Remember that on the NQ, we use half points as ticks, not quarter points as the market does. Mark had a short entry under the opening bar low at 2617.00, which triggered at A, hit first target for six ticks at 2614.00, and then he adjusted the stop a few times and stopped the final piece at 2606.50 for a net 13.5 (6 ticks for first half, 21 for second half, averages to 13.5):
Finally, the ER (Russell 2000) gapped over the UPT and used it as the low of the first bar. When the market rolled, I added a short under that level at 806.50 at A, hit 7 ticks in this case for a first target, and lowered the stop a few times before the final exit at B at 802.70 for an average of 22.5 ticks: