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Patience is a Virtue – Trading Video – Feb 5, 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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Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P and the Euro futures. Today is Wednesday, February 5th, 2014.
 
The market opened up this morning here at 1743 represented by this white dotted line. What you’re not seeing here, I’m going to go ahead and show you 3 trades that occurred within one very small area. It doesn’t happen very often.
 
This morning the market was moving very fast. Had an opportunity to get a full stop out, minus 14 ticks. I also had an opportunity to get a hook pattern that had plus 21 ticks.
 
And then this afternoon patience is a virtue. So all the way up until about 11:20, we had an opportunity over here on the left-hand side. You can see the bullish divergence. Notice we had lower lows on the price action. Higher lows on the momentum. Nice little setup for a continuation higher on a Shark Attack trade which is a total of 6 points, or 24 ticks minimum. So 48 for those of you who held on a little longer with possibly a trail stop. I want you to notice how this has continued to push up onto the T4 and T5. You don’t see that happen very often. Maybe once every 3 weeks or so.
 
To the lower timeframe chart. I want you to notice that we had what’s called a hook pattern. You’re not going to recognize the patterns without looking at the higher timeframe charts. That hook pattern and also we had a Fibonacci retracement. Sometimes they’ll occur at the same window, sometimes they won’t, in this particular case. So if, you know, people ask me all the time, will you add on to a position. I sure will. And I will when I get a setup of another trade setup. So while the Shark Attack trade is going on and you’re holding on to that position, and it pulls back. Nice little opportunity to get into 14 ticks and then a 9 ticks. So I did, in all full foreclosure, I did have a, not quite a full stop, I had a total of minus 14 ticks. But all in all it was a positive day.
 
To learn more about these and more advanced trade setups or to get a copy of your TraderShark trading manual, please visit TraderShark.com. Thank you.
 
Link to Video and Transcription

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