NQ gapped into resistance on the open. I was looking to short the dynamic daily pivot (dotted cyan line) at 1559.75 (colored circle). Unfortunately it didn’t make it that high. I got an second opportunity (yellow circle). Stochastics were overbought on both the 1 min and 30 second charts. Also the swing to the high was around 100 points. I have noticed that NQ usually will retrace if makes a swing of this amount. This is more of a scalp trade. NQ is the most volatile of the 4 indices and I’m usually wary of taking countertrend trades. So the strategy is to take profits as quickly as possible not expecting a major reversal. Shorted 15 MNQ (10 MNQ = 1 NQ) at 11559 after it came back down from 11563. Exited 10@ average of 11540.60 and the rest at an average of 11542.05 when the 30 second stochastic cycled back to oversold. Wasn’t going to overstay my welcome. Ended up making $523. Stats page will be updated tomorrow. There will be a one day lag since I don’t get my broker statement until after midnight.
