20050708 1) EMAs 15min=1508 30min=1507.50 60min=1506.50 2) Last 1 1/2 to 2 hours of previous day's trade was consolidation 3) Opening 30 min range was 1510-1516, 6 NQ points. First breakout ws to the downside given by the first arrow. This short trade turned out to be a loser, but the 2nd arrow was a good long trade on a stop and reverse of the short position. 

NQ daily chart