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Tidal Wave Trade – Trading Video – Feb 6, 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 S&P emini futures and the Euro futures. Today is Thursday, February 6th, 2014.
 
The market opened up this morning here at 1750.75 represented by this white dotted line. Jobless claims was better than consensus range. We had kind of a nice push out of the opening price. And then I did try a pro-range reversal, I got stopped out for minus 4 ticks.
 
Continuing on, coming out of the opening range we had a continuation higher. Nice little pullback. I didn’t realize we had set up for a bunch of what we call a tidal wave trade. A tidal wave is you buy one contract and hold on for the majority of the day. In this particular case if you did a wave trade, you would have ended up with a total of 10 ticks. If you did an actual, I think there was also a hook pattern that lined up at this point, a total of 23 ticks. And that’s only with 1 contract. Traded 2 contracts you could have had upwards of 46 ticks.
 
Nice little pullback, continuation. We’re looking for a top up here around 1764.75. And then we had a little pullback. Did try to get into another long position. Got my first target off. Got stopped out, I forced myself out based on the market internals for a total of zero.
 
Now going into the no trade zone from 11:30 to 1:15 Eastern Standard Time, we talked about it. Kind of hung in there. Got a total of 10 ticks on 1 trade and then got stopped out for minus 2 ticks on the next trade.
 
Coming out of the 1:15 lunchtime trading zone, we had a nice little pullback. And this is the only trade that I actually regretted today. I got into a trade and I forced myself out based on the market internals, and then sure enough we had a nice little auto wave kick in, and it took off like a rocket. There’s not much we can do at that point. I don’t like to chase any type of trades. And then it ran sideways most of the afternoon on into the close.
 
To learn more about these and more advanced trade setups or to get a copy of the TraderShark trading manual, please visit TraderShark.com. Thank you. Have a great evening. I’ll see you in the Shark Den in the morning.
 
Link to Video and Transcription

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