20190729
Long 1 NQ 7998.5, -2.0
Long 2 NQ 7995.0, 7994.5, -2.25, -2.25
Long 3 NQ 7989.0, 7989.0, 7989.0, -3.0, -3.0, -3.0
Short 1 NQ 7995.0, +7.0
Long 1 NQ 7984.0, -2.0
Long 2 NQ 7980.0, 7980.0, -1.25, -1.25
Long 3 NQ 7977.0, 7977.0, 7977.0, -1.25, -1.25, -1.25
Long 1 RTY 1572.8, -0.5
Long 1 NQ 7963.0, +5.0, -1.5, -1.5
Short 2 NQ 7971.75, 7971.75, -2.25, -2.25
Short 2 YM 27205, 27205, -2, -2
Short 3 NQ 7972.5, 7972.5, 7972.5, -2.25, -2.25 -2.25
Short 4 HNQ 7975.0, 7975.0, 7975.0, 7975.0, +7.0, +5.0, +5.0, +5.0
Short 2 NQ 7988.0, 7987.25, -3.5, -1.25
Short 2 NQ 7990.0, 7990, +6.5, +8.0
Total YM -4
Total RTY -0.5
Total NQ +11.0
It is usually the NQ that holds up best and shows the best bull response when approaching the end of a First Trend. As such, it usually provides the best action in recovery by virtue of this relative strength. ....but not today. By the time it was nearly reaching the Pivot Ledge from the previous week's spike down take-out selling, I was down my daily loss goal, plus about $100 more, all in the NQ alone... and I couldn't find any offsetting signals in either the YM nor the RTY, which normally provide me some valuable hedge against extreme's elsewhere. It was not until the first time marker of the day, aka the 10:30 Trend Check, and again at the Noon Hour High, did I even find enough of a pullback short opportunities to get back to even. Had it not been for the signal confirmations of those two time markers, I would have surely left the day with my losses in place.
Read about Time Markers in the book Pivots, Patterns and Intraday Swing Trades, and keep your maximum allowable loss in front of you on bad days... It's far more important to be able to come back the next day, when conditions are likely to have changed, than attempt to dig yourself out of a hole when signal information becomes too sparse without the help of such items as the Time Markers.
