Little example of how I set my intraday NQ chart screen, using 54 range ticks chart along with what I call "turning points" indicators. You can try this for yourself, if you like - for FREE TRIAL. Levels for Wednesday:
Heads up....some FCM will start imposing higher overnight and day trading margins... Check with your broker. This is for Stock Index futures but keep in mind MANY other markets are experiencing LARGE swings and moves. Overnight limits (5:00 P.M. – 8:30 A.M., Central Time): the futures contract is limited to a 7% price move up or a 7% price move down, based on the futures contract’s prior day’s settlement price (3:15 P.M., Central Time). Further, if a contract market moves beyond +/- 3.5% within an hour during the overnight session, trading will be paused for two minutes. If PRICE LIMITS hit 7% up or down and trading will cease until the NYSE cash market opens at 8:30am Central Time. This applies to the main stock index futures contracts available, such as the ES, MES, NQ, etc. What is so dangerous you may ask? If you are long an ES during the night session and the market is limit down (7%) you can NOT get out. There is a chance that when the market opens up at 8:30 AM CDT that the market will then go down the 13% limit without you being able to exit. That means that on certain situations you can lose MORE than you have in your account. If you don't understand how the circuit breakers/ price limits work...make sure you call us and talk to a broker at + 1 310 859 9572 This only applies for the overnight session ending at 8:30 A.M. Central Time. At that point, a new set of rules kick in ONLY to the downside. -7% Trading Halt 15 mins -13% Trading Halt 15 mins -20% Closed for rest of day Dow Avg. ( CASH INDEX hart Below) is sitting on major support level: Levels for tomorrow:
Last I saw, the CME limit moves are 5% during the overnight hours. I could be wrong, but I remember reading this in the ruleset, and SEEING IT HAPPEN IN THE OVERNIGHT HOURS IN MARCH! Check with your local exchanges though, because I am a futures n00b.
https://www.cmegroup.com/education/...ts-and-circuit-breakers.html#circuit-breakers https://www.cmegroup.com/trading/price-limits.html#equityIndex
One of the most overlooked keys for day trading better - HERE. Daily levels for Monday followed by weekly levels for next week: weekly: