NQ 11/25/13 +8.00

Changing gears...switching over to the NQ. Not sure if this would be just a temporary move or a permanent one. All depends on how I do this week (though volume would be light due to the upcoming holiday). Seems to me, the NQ offers easier fills and is more forgiving of mistakes. The downside is that the price action is, at least to me, not as clear-cut as the ES. My daily goal with the NQ is +6.00 points. Did 4 trades today...all buys and all were long and agonizing, due to the light volume.

Trade #1 - 2nd entry long off the lows, with EMA and trend line supports. +3.00 pt.

• buy 1 @3427.75 at 11:17
• sell 1 @3430.75 at 11:33

Trade #2 - 2nd entry long, with EMA support. However, prices made another leg down and I was within 1 tick of being stopped out. Fortunately, prices reversed upward, after making a triple bottom with trend line support. When prices rose near the main upper trend line channel, I exited for +1.00 pt in anticipation of some resistance.

• buy 1 @3430.75 at 12:04
• sell 1 @3431.75 at 12:33

Trade #3 - 2nd entry long. The signal bar was not the best. In fact, it was bearish. The trigger bar was worse. After I got filled, prices dropped a bit. However, I was anticipating strong support at the 3428.00 - 3429.00 level. The main trend channel was in play too, so was also expecting some support there. Everything did as expected and I got my +3.00 pt.

• buy 1 @3429.75 at 12:59
• sell 1 @3432.75 at 13:37

Trade #4 - This was the longest held trade of the day. Seemed like it lasted for forever and a day. This was a 2nd entry long, based on what I'd initially thought was decent support. Also, it was a countertrend trade, but this was also a range day, so it was OK. Prices did drop more, as the selling pressure had not been exhausted yet. I was within 2 ticks of being stopped out. When prices reversed to the upside, I took the opportunity to exit early for +1.00 pt.

• buy 1 @3427.50 at 15:16
• sell 1 @3428.50 at 15:56

NQ chart 11/25/13