Learn to Day-Trade the Emini S&P Futures
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Head and Shoulders – Trading Video – Aug 1, 2014

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This video is designed for educational purposes only and to show some of our trade plan setups to reinforce our daily trade plan review.
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Transcription:

Good evening traders, this is Brian with http://tradershark.com/ an educational website to help learn how to trade the E-mini S&P futures. Today is Friday, August 1st 2014. The market opened up here this morning at 1920.25. You have heard it said that a picture is worth a thousand words, and I want you to notice the head and shoulders pattern. Of course this is much clearer in hindsight but at this point, here is your first shoulder, here’s your head, and then right about here you are starting to go and realize that this may be a shoulder. They do a little bit of a head fake, they are still developing the shoulder and now we are starting to draw our projected target. How do we do that? You take the distance from this high point to the neckline. Then you are going to move it down here to the break of the neckline. So as this develops, there is your head and shoulders pattern. Here is your distance from your head to your neckline, and at the break of this neckline we’re going to project the target. The target is down here at 1912.50.

I got into a trade here; I think that I got out with a total of 22 ticks. In all reality, this is more of a 30 tick trade all of the way down into the bottom. In this particular case, you can see the target hit on the head and shoulders pattern. Then we had what’s called a hook pattern, and you can see the profit from the prior swing level the high to the low. Bring it on down here to the break of the hook pattern.  On the way down it didn’t quite make it to our third target. We scaled out mostly at the SharkBands, and that would have solidified your profit margin. Working our way on into the close, again I think that the President started talking somewhere in the latter part of the day, I’m not much of an afternoon trader. To learn more about these and more advanced trade setups, or to get a copy of the TraderShark trading manuals please visit http://tradershark.com/ . Thank you, have a great weekend and I will talk to you on Monday morning.

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.