A terrific session trading the emini futures indices, and one where patience was required initially, but then paid off with a terrific move higher. A key point here is to consider all three indices of the YM, the ES and the NQ eminis. Whilst they will all tend to move in the same direction, it is often the case one has more momentum than another. Over the last few days we have seen the NQ emini deliver more straightforward trading opportunities with momentum, whilst the sister indices have seen more compressed price action. Traders struggling on the YM emini would have found better and easier trading opportunities on the NQ emini. Today, the reverse was true with the YM delivering and excellent move higher, initially slowly, then picking up speed once through the 27,000 level and following FED chair Powell’s testimony. An wonderful trade on the faster timeframes using volume price analysis and supported as always by the excellent Quantum Trading tools and indicators for both time and non time based charts.
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