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,
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Monday, July 8th, 2013.
Got back from upstate New York last night, visiting Niagara Falls. Only to see a little bit of sideways movement for today’s price action. There were no news reports really to propel this market any one way. The market opened up here at 1634 represented by the white dotted line.
Had a little pro-range reversal about 2 minutes into the trading day. And then another pro-range reversal. I didn’t take either one of these. Pretty much sitting on my hands watching the volume. The volume was kind of light today. And then as we came across our first reversal zone at around 10:00 notice we did not have a reversal. We didn’t have a trend. A nice little wave trade long. Target 1 and target 2 were hit for a total of 10 ticks.
I want you to notice, this pullback, right here, broke our support level which told us that the market was not going to go higher, or if it was it had to it had to take through this high. It did not. So there’s a scalping opportunity here short. Look at the auto wave fired off short for a total of 6 ticks. And then letting the market materialize a little bit.
I tried to get into a short trade here. Got my first target off. Got stopped out for 3 ticks, only to see the market continue in my favor. Another opportunity to get short. Came real close to getting us stopped out. Materialized in for a total of 6 ticks. That was pretty much it for the day, so it was a total of 3 trades, 2 of them were successful.
Before going into the no trade zone. We have a no trade zone from 11:30 to 1:15 Eastern Standard Time. Notice coming out of the no trade zone we still really didn’t have any opportunities to get long. Didn’t have any real materialization. What you don’t see here is on our higher timeframe chart we had Shark bands. They kind of held us down from a resistance level. There was really no way for us to get into any trades into the close for this afternoon. So let’s hope we get a little more volume tomorrow.
To learn more about these and more advanced trade setups or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.