I wanted to follow up on my earlier post about the ES and NQ.
If you were watching both charts today, you saw that the exact area the rally stopped on the ES was the Fibonacci extension (FE) of the previous day's low to high. Even if you were only trading the NQ, had you been watching both charts you could have:
1.) Taken profits from a substantial rally if you were long.
2.) Gone short for an opportunity that yielded more than 50 points (a nice addition to the long profits from the morning).
I don't have time to post detailed analysis on my trades today, but here are the charts* so you can see the synergies/interaction between the ES and NQ (with respect to what I pointed out above).
It is just another piece of the puzzle.
*note - charts are shown with 15-minutes left in the trading session.
Trading 05-May-2016 ( - $125)
17 hours ago