Trading Stock Indexes

[jellylip]

NQ

Directional Bias - Sideways to UP above 1235.25

I am looking to set longs above 1335.25

If we do move up, then 1354.75 needs to be overcome for further advance.

Any sustained move below 1335 cancels my long bias.

ES

Directional Bias - Sideway to Up above 955.

I am looking to set longs above 955 area.

If we do move up, then 968.50 needs to be overcome for advance. This level has the potential to reverse direction.

Any sustained move through 955 intraday cancels my long bias

 

[jellylip]

Quote from jellylip:

NQ

Directional Bias - Sideways to UP above 1235.25

I am looking to set longs above 1335.25

If we do move up, then 1354.75 needs to be overcome for further advance.

Any sustained move below 1335 cancels my long bias.

ES

Directional Bias - Sideway to Up above 955.

I am looking to set longs above 955 area.

If we do move up, then 968.50 needs to be overcome for advance. This level has the potential to reverse direction.

Any sustained move through 955 intraday cancels my long bias

Long the ES at 955.
Buy Stop on NQ at 1338.

 

[jellylip]

Quote from jellylip:

NQ

Directional Bias - Sideways to UP above 1235.25

I am looking to set longs above 1335.25

If we do move up, then 1354.75 needs to be overcome for further advance.

Any sustained move below 1335 cancels my long bias.

ES

Directional Bias - Sideway to Up above 955.

I am looking to set longs above 955 area.

If we do move up, then 968.50 needs to be overcome for advance. This level has the potential to reverse direction.

Any sustained move through 955 intraday cancels my long bias

Daily Trade Review

NQ


I entered long on a buy stop on the NQ at 1338. The market moved up slightly in the first 15 minutes, but the trade spent most of the day underwater. The supply in the morining was fairly heavy and buying returned into the afternoon. My bias did not change. I exited on a push at the close at 1340 for a whopping 2 points.

ES

I was filled early on the ES at 955. Price moved down from this level through mid -day. My bias remained sideways to long and I held into the close and exited at 956.50 for a modest 1.5 point gain.

Let's see where things are tomorrow. It looks like price is now moving up after the close. My risk reward was way out of line today.