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 http://tradershark.com/ an educational website to learn how to trade the E-mini S&P futures. Today is Tuesday July 29, 2014. The market opened up this morning at 1976.75 represented by this white dotted line. We generally don’t trade in the first fifteen minutes of the day. As we continued on into the first news report around 10 o’clock, we had consumer confidence come out. It was better than expected; generally we were seeing that with positive news the market tends to sell off. In this case we had a nice little opportunity to push in. Didn’t have enough confidence to hold on any longer, so I got a total of six ticks to the longside right there at about 10:12 AM Eastern Standard Time. Then as price action worked its way through the moving average we had a nice little pullback for a total of eight ticks. I did not hold onto this any longer, but there was a good selloff that continued right down to several target points on a hook pattern on our anchor chart. As we continued on into the day we had some potential target areas, just shy of hitting our target area for a retracement going into the lunchtime trading zone.
Going out of the lunchtime trading zone, the market ran a little bit sideways and then we had our two o’clock potential selloff timeframe. Then we had another opportunity for selling pressure to the downside. You can see the momentum here was kicking in on a couple of different selling opportunities. I was not in this trade, I was in a hook pattern trade later on this afternoon. You will see this coming up shortly at around 3:18pm. The market, while it does look like it was in a general downtrend does look relatively choppy. The President came out and started talking about the conflict over in Ukraine, with that the market sold off pretty heavy. Let’s go to a higher timeframe chart. Ok, so let’s look at a higher timeframe chart. We looked at the selloff on the lower timeframe chart at around 11 o’clock. I want you to see how price action was really balancing between these sharkbands. We had our opportunity and hit target one, target two did not quite get hit. Our internal indicator got us out a little bit earlier, so four ticks, four ticks, and five ticks on a hook pattern to the downside.
As we continue on into the day, I want you to see what happened here at around 2 o’clock. After the two o’clock timeframe we had a nice hook pattern setup, four ticks, eight ticks and eighteen ticks to the downside if you were able to hold onto the third contract all of the way down to that final target. Let’s look at the criteria for that hook pattern: Target one is four ticks, it has a 70% accuracy. Target two is a 50% with 60% accuracy and target three is a 100% of the move with 50% accuracy. So again, you capture some profits and then if you want to let it run, and if you were able to weather a slight uptick here, you were able to capture some nice profits all of the way down to our target area. This was drawn way before the completion of this pattern. To learn more about these and other advanced trade setups, or to get a copy of the TraderShark Trading Manuals, please visit http://tradershark.com/ . Thank you, have a great evening and we will see you in the SharkDen in the 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.