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,
TraderShark
Info@TraderShark.com
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Tuesday, October 21st, 2014.
The market opened up here this morning at 1910.75. And we really didn’t have any room to move with these Shark bands being so tight. Once we broke out of our opening range, nice little pullback for a hook pattern for a continuation. T1 and T2 were hit very quickly here. The third contract, held on to it long enough, and then I had an indication that forced me out of my third position for a total of 13 ticks.
The second hook pattern occurred right here, a little bit after 10:00. After we came through our first reversal zone. There was no pullback deep enough for us to consider a reversal. Likelihood continuation higher. T1 and T2, got out at T2 mostly because we had another Shark band here. Once we broke through the Shark band for continuation. And there was no hook pattern set up here. Again, these are more aggressive trades. There wasn’t very many conservative trades today. Just mostly due to the backing and filing of price action.
I drew this little action, reaction continuation pattern. You’ve also heard this is called a 1, 2, 3 or an a, b, c continuation. And in this case it’s exactly what we saw. Found support again. Broke through the Shark band on this Shark band and T1 and T2 would have yielded 18 ticks. If you held on long enough for T3, the T3 actually materialized here at about 1:30 in the afternoon. But again, Shark band takes priority over a target level and I exited here at 27.50, that would be a total of 41 ticks on 1 trade.
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Link to Video and Transcription
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.