Learn to Day-Trade the Emini S&P and Euro Futures – live with a full-time trader.
This video is designed for educational purposes only and to show some of our trade plan setups to reinforce our daily trade plan review.
To Successful Trading,
TraderShark
Info@TraderShark.com
Good afternoon traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, December 12th, 2014.
The market opened up at 2013.25 represented by this white dotted line. From 9:30 until 9:45 we generally don’t trade unless we have an exception to the rule. In this case we had what’s called a pro-range reversal. Put our position on. Did not get filled and it reached the first target. Cancelled the order real quickly.
And then we watch the market continue to push higher. We had an expanded opening range and we were going to see mostly sideways chop today. At 2020 the market will tend to gravitate towards 2000. Didn’t know we were going to see it later on this afternoon, but we had that in the back of our mind. We did have a trial day, so I was a little more alert to that.
We had an opportunity to get in here right at around 10:07 for an opportunity for target 1 and target 2 for a total of 12 ticks. Another opportunity to add on to the position with a no fill for a continuation without us. And then we had another opportunity to try to jump on. First target got hit. Got stopped out for minus 2 ticks.
Continuing on into the morning. Right around 10:30 we had a 10:30 reversal zone, which did not reverse. At that point we said likelihood continuation lower. Got our first target off. Got stopped out. Another trade, jumped on. This is many more trades than we’ll normally take, but today the market was moving. And so we had an opportunity for T1 and T2. Ten ticks on this trade and then we continued lower.
And then we find strong support level. We weren’t sure what was going to happen. There was a nice reversal here. Generally not much of a countertrend trader myself. So I got T1 and forced myself out on this one for 6 ticks. This is a nice setup. Did not get into it. We had a hook pattern setup here at around 11:22 for a continuation. T1 and T2 were hit; T3 did not get hit, for a total of 10 ticks.
Going into the lunchtime trading zone from 11:30 until 1:15 Eastern Standard Time. Again since it was a free trial day, I was watching and I was talking to some of the traders. We also had another hook pattern develop in the lunchtime trading zone. Then it was a nice opportunity to get in for T1 and T2 for a total of 17 ticks.
As we continued on into the afternoon they were taunting a lot of the traders to try to fade the 2013 level. Kept retesting it. Retesting it again. Ran their stops. Notice we’re not in any positions at this point. We’re near the highs of the day at about 2:00. On your time chart, when we’re near the highs of the day, we don’t want to be caught in a long position at 2:00. What happened here? Market broke through our moving average for a continuation lower. Nine ticks, T1, T2. Another pullback, another opportunity, T1, T2 for 9 ticks.
And the market started to accelerate to the downside. No buyers stepping in. Here we are working our way towards 2000. What did a lot of people do? 2000’s a big round number. The amateurs are going to try to buy into it here. I found a nice opportunity to jump in short. This does not occur during the trial period. Just for full disclosure. Hold on until the next support level, which is around 96, 95. Where did it end up? Right there at 96, 95.
And as one of the traders mentioned in the room, you know, you can’t have a pullback in crude over the last several months by $30 even $50 a barrel and not have some type of ripple effect throughout the economy. So this is a great opportunity for them to continue selling pressure to the downside, catching a lot of people going into the holiday season long.
With the free trial period we had a webinar special going on and this is run through December 14th at midnight, so take advantage of it. TraderShark.com, go to the Home tab, Webinar Specials. Then you have an opportunity to get into the Shark Den and the trading manuals, all for $249 or if you scroll down the page, you can actually get the manuals at a discounted rate as well as getting the Shark Den subscription at a discounted rate.
Have a great weekend everybody. Get your Christmas shopping done early, holiday shopping done early. And I’ll see you all in the Shark Den bright and early on Monday morning.
Link to Video and Transcription
The information herein has been prepared solely for general information and educational purposes and is not an offer to buy or sell, or a solicitation of an offer to buy or sell the securities or financial products mentioned in the content, nor a recommendation to participate in any particular trading strategy. Please consult your broker for trading advice. All trading requires risking money in pursuit of future gain. Do not risk money you cannot afford to lose. Past performance is no guarantee of future performance. The instructor is not a broker or a licensed investment adviser and is therefore not licensed to give trading advice of any sort, nor make specific trading recommendations.