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 afternoon traders, this is Brian with TraderShark.com, an educational website to learn how to trade the S&P, Euro and Crude futures. Today is Tuesday, March 20th, 2014. The market opened up this morning here at 1849.75, represented by this white dotted line. We don’t trade within the first thirty minutes generally; we do have a couple of exceptions to the rule. In this particular case we did have an actual Fibonacci pullback, for a continuation higher. The first target got off properly, and then our market internals got us out for only plus two ticks. There was not much coming out of the no trade zone. The jobless claims this morning was within consensus range. That is really all that I am concerned about when I look at news reports, at ten o’clock we had housing starts. Everything else seemed to be within consensus range here right around 10 o’clock. I want you to notice that there were no additional trades at this point; I am a pullback trader, not a breakout trader so we did not get this initial move. There was a nice pullback and an opportunity to get long. Target one and target two hit for a total of six ticks, continuing on further. The yellow arrows are setups that I did not take. I explained in the SharkDen why, I think that in this case it was driving right into a SharkBand.
Coming through the moving averages to the downside, there was an opportunity for target one and target two for a total of eight ticks. Then there was another follow-on opportunity for target two for a total of six ticks. Again, the targets seem a little bit light, and that is just due to the choppy nature of the market. I am watching the market internals very closely and if they force me out based on what I am seeing, and then I kind of avoid taking a loss based on this. I am trading those live in the room. Now, we have a lunchtime trading zone here from 11:30 to 1:15. I generally don’t take this trading opportunity, but for those of you that were watching, I had drawn these vertical lines showing this as a potential entry point. You see the vertical tracker down here on our momentum indicator. Then underneath, another opportunity for a long. I did not take those trades, again I’m more or less doing something over the lunchtime trading zone. Then coming out of the lunchtime trading zone, I also drew an indication of an opportunity to go short. I am drawing these so that you can recognize them, and then in the room I will tell you why I did take a trade, or did not take a trade. At two o’clock we do not take long positions. Here it came back through the moving averages. There was not much going on, I prefer not to trade in the afternoons. In this particular case, I had an opportunity to get long right into the close. Target one and target two was hit for a total of six ticks. To learn more about these and move advanced trade setups, or to get a copy of the TraderShark Trading Manuals please visit TraderShark.com. Thank you, have a great evening and I will see you in the SharkDen in the morning.