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Sharks got us Today – Trading Video – April 26, 2013
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
[email protected]
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, April 26th, 2013.
The market opened up this morning here at 1578.75 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. We do have a couple exceptions to every rule. We had what’s called a pro-range reversal here. Took a quick 4 ticks out of the market on a reversal off of the open. Price action worked its way back above the moving average.
We then had a news report there at 9:55, consumer sentiment report. It was relatively neutral, within consensus range. There wasn’t much market fluctuation. It developed our opening range here a little wider than usual and with that we kind of knew we were going to have a choppy day. I did not get a hold of this trade. This was still on the opening, but it did set up nicely right there at about 10:15.
Coming out of that we had an opportunity for what’s called a Shark Attack trade, so I set up and I wasn’t comfortable with the other market internal indicators. I exited for minus zero points. Obviously have to subtract commission from that.
And then it looked like we were going to get another setup. A nice long opportunity here. And our first target is about 8 ticks away, so I didn’t get my first target by one tick. Pulled back and eventually stopped me out for minus 9 ticks. I think we rode this for about an hour or so, and then I put a second contract on and it didn’t hit the first target, and so we rode that. Again, a lot of sideways chop. You can see it here. It’s much clearer in hindsight. Going into the no trade zone. And then got stopped out in the no trade zone from 11:30 to 1:15 Eastern Standard Time down here. Actually the stop on a Shark Attack trade, it stopped right to exact tick. And then it reversed of course, just like we see in the market.
Coming out of the no trade zone, another opportunity to get long, and this one did not work to my favor and did not get my first target off. So I took only plus 1 on it because we went into the 2:00 trade zone.
Continuing on, I was out of the area at this time, but nice clean setup. We have an auto wave firing off right there just before 3:00. I did not get in on this one, but it would have yielded a positive 10 ticks. And that was pretty much it for the day going into the close 3:50 until 4:15. So it was quite a challenging day to make any money on today’s market.
To learn more about these or more advanced trade setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great weekend and I’ll see you bright and early Monday morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
1575 Level – April 24, 2013
Today we had consolidation on low volume at the 1575 level, in preparation for a potential move higher tomorrow. No clean setups occurred today. Two trades were taken for a loss of 2 ticks. Gap fills of 1582 and 1588 are targets for tomorrow April 25, 2013. To Your Successful Trading – TraderShark
Twitter Tweet – Tidal Wave Trading Video – April 23, 2013
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
[email protected]
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, April 23rd, 2013.
The market opened up here this morning at 1564.25. And we knew by the gap range we were going to have a long day, so we were looking for pullbacks. In this particular case this is our higher timeframe chart. And we had a nice clean hook pattern that did work its way for completion prior to this little flash crash that occurred here about 5 minutes before 1:00 or so, due to a false Twitter tweet. Try to say that three times real fast. And then going into the close I want you to notice we did have a nice trendline break for a setup to continue to push price action higher. I want you to notice that after hours our actual second hook pattern was completed.
Now let’s go to a lower timeframe chart. So what actually happens on a tidal wave type of trade day. I misspoke when I said 1564, I quoted, it’s actually 1564.75 is the opening price. We don’t trade from 9:30 to 9:45. And we were looking for an opportunity. Any types of pullbacks for us to try to get into a long position. Basically can just hold a position like this the whole bit, until about 3:00 Eastern Standard Time.
This was a nice clean setup for us to be able to get in. It was in a no trade zone. Did not take it. We then had a nice little auto wave fire off here. Had an opportunity to get in. And we had several opportunities. If you didn’t want to trade during the no trade zone, we had a second opportunity, and then a third opportunity, but a third opportunity, remember on a tidal wave, on this particular case I had a 3.5 point stop. And we were going to try and just run this for the day. When I get heavier than more than 2 or 3 contracts, I’ll bring in a little bit tighter stop. In this particular case I got stopped for minus 4 ticks. These were all with only 1 contract trades, right? 1 contract with 23 ticks, 1 contract with 12 ticks, and then we got stopped out for minus 4 ticks on this one. That’s because I was trading 3 different platforms.
We then had a pullback here. Nice opportunity another 12 ticks, and it doesn’t mean that it occurred all within this short period of time. Even this 23 tick period, it was not taken out until the little flash crash that occurred there around the no trade zone, the lunch time no trade zone.
Had another opportunity for an entry and 12 ticks. I want you to notice these auto waves firing off. If you did not get in on the auto wave, there’s plenty of other opportunities in through here for entering.
There’s one auto wave that I actually missed, and notice I colored that as yellow. But it nonetheless, nice fired off continued on higher. And we had what’s called a no trade zone that occurs from 11:30 until 1:15 Eastern. There’s no further trades that I took. I kind of let those trades that we were in, let them run and then got up, walked away from the no trade zone from 11:30 to 1:15 Eastern Standard Time. And you know, who would have known that this would have occurred. There’s a false Twitter tweet that caught everybody off guard and it stopped our trailing stop to the long side. When you get a news issue like that, again, that will trump every trade setup you have. This is during a no trade zone. There’s no ability for us to recover. Once they found out it was false they brought price action right back up to where it initially started. But, at that time you really want to let the dust settle and do nothing.
2:00 at the highs of the day, we don’t generally want to be caught in any type of long positions. Nice little pullback, auto wave fired off short. Quick 8 ticks there. And then we were below the moving averages, but as you saw in our higher timeframe chart, we had a nice setup to be ready to get long. Our auto wave fired off, another 10 ticks to the long side. If you didn’t get in there, you had another opportunity here, another trendline wave trade and then going into the close. A lot of stuff went on today. Patience was the name of the game.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Options Exp – Trading Video – April 19, 2013
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
[email protected]
Good evening traders, this is Brian with TradeShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, April 19th, 2013.
The market opened up this morning here at 1540 represented by this white dotted line. We don’t trade from 9:30 to 9:45 just a period of choppy timeframe if you will. Plus we had options expiration today. And today being Friday we knew we were going to have a lot of sideways movement. Get chopped up. The opening range was about, what, 10.5 points.
Little bit of a head fake there to the downside. We did try to get a setup, nothing occurred. And then price action worked its way back to within opening price. We generally know that within 1 point of opening price it’s going to be a choppy timeframe. So we want to be very careful. It blew right through opening price. Back through our opening range and nice little pullback. Look here 1543, that’s our weekly low from last week. We knew that was going to be an area of contention and sideways chop until a potential launch higher.
Notice we had this little indication here for a trendline wave trade, EWT, had like three or four different trades fire off, but it didn’t get the legs to push high enough. So we got into a trade. I missed my profit target and pulled back for a loss of 4 ticks on that one particular trade. And it was pretty safe getting out there because look, we had an even deeper pullback, back to test opening price. Nice bounce, pullback. Got into another nice trade. Trying to get long through last week’s low. Got our first target off and got stopped by a minus 2 ticks. Started out with two losing trades this morning.
Then we finally had a nice clean pullback to our moving average to take off. And this is a trade I missed. I think I stepped out of the room for a moment. When I came back in had another pullback. Opportunity to get in long here. Total of 8 ticks. Another pullback. Took off. This one got the first target and got stopped out for minus 4 ticks only to be setup for another long opportunity. And in this particular case we had two separate ones. You’ll notice it fired off for a total of 8 ticks and a total of 9 ticks. Going into a no trade zone. So what we do is, if you got to trade going into a no trade zone, you’re fine. If you, but we don’t initiate any new ones after 11:30 in the morning.
Going into the no trade zone, you can see the market tended to go to a sideways chop until about 1:30 in the afternoon. Another pullback. And we, again, did not seem to get any legs. So basically I flattened out at entry for zero. And then of course it moved in our direction.
At 2:00 we don’t want to be in any type of long positions. And in this case it didn’t get us any short setups either, so no trades in the middle part of the afternoon. And then going in towards the close, again patience pays off. I like to trade from 3:30 to 4:00 in the afternoon. And here we had just our auto waves were firing off. We had nice conformation with the sentiment indicator. Conformation with our directional. And our momentum fired off. And then we just held on. We actually had a discussion in the room. We had one trader expecting to go to 1550.5. I was expecting to go to 1551.5. He won, but we both ended up winners at the end of the day. I got a total of 28 ticks on that particular trade.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Have a great weekend, and I’ll see you in the Shark Den on Monday morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Pullback – Trading Video – April 16, 2013
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
[email protected]
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, April 16th, 2013.
The market opened up this morning here at 1558.75 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45 in the morning. Coming out of the no trade zone had an opportunity to get short. Got the first target off really easily and then we kept expecting for our second target to get hit. Got stopped out for minus 2 ticks.
And then as you can see here we have a directional indicator that continued to remain below its threshold and with that we had sideways movement, so there was actually no trades going on this morning. And we continued to watch as we continued through the morning. No trades.
And then we had a nice little push to the downside which was a head fake. If you got your first target off you would have taken a loss with minus 2 ticks on a second contract. However, on this particular case some traders did not get filled on their first target and the other market internal indicators would have got us out by around 4 ticks for 2 contracts, so that would be a total of minus 8 ticks on that particular trade.
We then had a nice little break through the moving average. Pull back here. I did not get in this first trade. Attempted the second pull back. And you’ll notice here our momentum indicator gave us a nice long signal. Got our first target out. Got stopped out for minus two ticks. However, just before going into the no trade zone there was another entrance on an extended wave trade long and we got in just before going into the no trade zone. The general rule is if you don’t have your first target off then you really need to exit your trade.
We generally don’t trade from 11:30 to 1:15 Eastern Standard Time. In this particular case the indicators were pushing higher and we figured we were going to be able to make our targets. In this case we got our target 1 and target 2. Got out just in time to go off to lunch.
Coming back after the no trade zone, market pulled back through. Had an opportunity to get short. Again, this is more of a counter-trend trade and a lot of traders may not have taken this one. I did not take the second entry, took the first entry. Got target 1 and target 2 for a total of 8 ticks. Generally we talk about when you do counter-trend trades, either you don’t do them or you go for shorter profit targets. And so this is a second opportunity to get in, right there at around 2:10. We don’t want to be caught long after 2:00 in the afternoon.
Coming back through we had a nice little bounce. Pulled back. Continuation. In this particular case the yellow arrows are trades that I did not take. We did talk about it in the room. I generally don’t trade from 2:30 to 3:30 in the afternoon, on rare situations I will. In this case, after we got outside the 3:30 timeframe, an opportunity to get long, total of 14 ticks all the way up in here to 1570.5. We then had another opportunity, nice pullback. Tried to get long, got our first target off, and got stopped out for minus 2 ticks. And that was pretty much it for the day.
To learn more about these and more advanced trade setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Back from Vacation – April 11, 2013 – Trading Video
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
[email protected]
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Just got back off vacation over in Clearwater, Florida. And I apologize for not being able to get any videos out over the last three days. But today we had a really nice day.
We had the market opening up here at around 1583 represented by the white dotted line. We don’t trade from 9:30 to 9:45, it’s just a period of higher volatility. Just coming out of the 15 minute no trade zone we did have an opportunity to get long on what’s called a pro-range reversal. But I did not get into it, so I colored that in yellow. Anybody else in the room that may have found it or starting to see a pattern here.
Breaking back above the opening price we did have an opportunity to get long. I want you to notice the auto wave that fired off here. And if you got in right there you took a little bit of heat to the downside but did not get stopped out. Another opportunity to get in. Another auto wave fired off for a total of 10 ticks on that trade. Shortly thereafter I had another auto wave fire off long, it looked like the market was not going to be pulling back. Once we get above this 1580 level, the 1600 is going to operate kind of like a magnet; it’s going to draw price into it. So we figured we’re going to be mostly to the long side today.
Right here, if you had gotten into this, I had colored it yellow, I did not take it. And I think that was due to some market internals were convincing me not to get into this trade. Had an opportunity to get the first target off. Then would have gotten stopped out for the second target. And then thereafter I had a fourth opportunity to get long. In this particular case I think the market internals were pushing higher. Got an opportunity to get in here. Took a little bit of heat to the downside and then we watched the market push up into its profit targets for a total of 8 ticks on that trade.
And then, you know, after you’ve worn out a specific move or a specific trade setup, the validity of the trade setups tend to weaken. So I did not take this follow on trade, you’ll notice that our momentum was in our favor for it to continue to move. So any of these trades, once you get your first target and second target and you wish to put a trailing stop on you could have generated substantial profits today. I’m much more conservative in my trading.
Another opportunity I had an auto wave fired off. We realized the market was not going to pull back. Another opportunity to get in. 8 ticks there. So the morning session was fantastic. And then from 11:30 to 1:15 Eastern Standard Time we do have what’s called a no trade zone and that’s just a period of higher volatility, lower volume.
Coming out of that around 1:15 you can see the rest of the day we chose not to get into any other further trades until right in here at about 2:55, we had another auto wave long and we had resistance to this moving average so a lot of traders may not have taken this. And I generally tend not to trade between 2:30 and 3:30, but since I was gone the last couple of days I sat in on this one. And a little bit of heat to the downside. If you missed getting entry there, another opportunity here. Price action tends to wrap around the moving average and then we went into the close with no further trades.
To learn more about these and more advanced trade setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Does News Affect Markets – Trading Video – April 4, 2013
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
[email protected]
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Thursday, April 4th, 2013.
The market opened up this morning here at 1550.25, right in the middle of our opening range. I want to show you the higher timeframe chart, just to give you a rough idea. I want you to see how price action really used these Shark bands to its benefit when they opened up this morning; we saw the Shark bands were very tight. And so didn’t really want to be taking any further long positions unless we got above this second Shark band. And then we ended up staying in the consolidation range most of the morning in the opening range. Notice how they respected these Shark bands.
These hook patterns did not develop to the long side. Hook patterns did not develop to the short side. Inverted head and shoulders did not develop. It never broke through the neck line for a continuation. Let’s go look over on a lower timeframe chart.
Okay, from our lower timeframe chart you can see our opening price was here at 1550.25. Price action, we had a news report this morning, I think 20,000 more on the jobless claims issue, which is bad news and the market moves up, which we see happen quite often. Expecting the news to follow through to the news report in the afternoon. Moving into the upside, had an opportunity to get long right there at about 10 minutes before 10. Rode it out for a total of 9 ticks.
You see some of these auto waves firing off. Did not want to take them, they’re going right in the middle of Shark bands. On that previous screen I showed you where the Shark bands were causing resistance. We did not want to go long into that. Price action worked its way down below the moving average. Had a nice opportunity to get short. Pull back. Continuation long. And in this particular setup we were coming off of opening price, anywhere from 9 to 21 ticks on this particular move depending on where you had your stop and what your ultimate targets were. In this particular case our target was up there around 1555.5 with a trans stop.
Price action eventually worked its way up to this area, no further trades for this morning. There was one little setup that fired off here going into a no trade zone, but fortunately it was in a no trade zone, nobody took it. Otherwise that would have been a first opportunity for a potential full stop out.
No trade zone from 11:30 until 1:15 Eastern Standard Time. And then I did try to take, price action dropped below the moving average, I tried to take it short and then did not like the price action, got out over here for minus zero ticks. That was it for the day. We had a lot of sideways movement. And it kind of just waffled in between the two Shark bands for the rest of the day.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Trading Video – April 3, 2013
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
[email protected]
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Wednesday, April 3rd, 2013.
The market opened up this morning here at 1565 represented by the white dotted line. We immediately had a pro-range reversal here. I did not take it. The yellow arrows are trades that I did not take. I did jump into a pro-range reversal here. It is a counter-trend trade. So it’s very dangerous. Watch the market internals. And I forced myself out at minus 1 tick. I just realized that hey, going long in this type of environment was a mistake. Then quickly got on at a selling opportunity. Got our first target off and then got stopped out for minus 2 ticks here before I moved to the downside.
I had another opportunity to get in short here. Notice we had an auto wave short. Forced myself out for minus 4 ticks on that trade. Following through, I mean the pressure was still indicating, everything inside was telling us the market was going to selloff, but the indicators were, it was so choppy kind of coming, backing and filling, right? So tried to get into our position. Got our first target off. Got stopped out.
And then this was definitely a mistake. I knew it was a mistake when I entered the trade, so I quickly forced myself out. So far started out with a bad morning and tried to make it a little better here in the afternoon. Had a nice setup to get short in through here. Did not take this trade. Next pullback. Had an opportunity to get short and then only took 6 ticks on it for a continuation to the downside. And then you can see each one of these auto waves continue to fire off more rapidly in succession to the downside.
Waiting for a pullback and then by that time we got into the no trade zone. From 11:30 to 1:15 Eastern Standard Time I don’t trade during that timeframe. Coming out of 1:15 had another opportunity to get short. If you had a runner, I mean, conservatively 6 ticks, but it really could have run 8 to 10 ticks on this particular trade because we were trading against the clock at that time and I just wanted to make sure that we had our profit targets locked in. And then right there, just before 2:00, continuation was to the downside.
As price action came back and worked its way through the moving average, an opportunity to get long. And again, it was counter-trend because we had not broken our previous significant level. Counter-trend got a total of 6 ticks off to a long side. Nice little pullback. Again, auto wave fired off. Auto wave would have taken a reduce risk stop out, but did not jump on that one.
Came back through the moving averages, another opportunity to get short. Auto wave fired off short. Okay, I was not trading from 2:30 to 3:30, that’s why I missed these trades. And then, you know, we don’t ever try to call bottom. But once we get a little bit of a move and a pullback, another opportunity to get in and take 6 ticks into the close. Just barely profitable for the end of the day.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.
Low Volume – Trading Video – April 1, 2013
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
[email protected]
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Happy April Fool’s Day. Today is April 1st, 2013.
The market opened up at 1561.50 represented by the white dotted line. The European banks were closed today and we had lower volume. Much lower than expected. I did not expect much price movement.
We have a no trade zone from 9:30 to 9:45. Coming out of the no trade zone we did have an auto wave short. Did not get in on that one. However, tried to follow through with a second auto wave short, and took a minus 2 ticks on this particular trade. And then we did have a retracement all the way up to the moving average for a continuation to the downside for a total of 11 ticks.
The selloff continued based on the news report there at around 10:00. And we always wait for a pullback. However, waiting for a pullback we missed a little bit of a run here. Nice pullback here for a total of 8 ticks to the downside. Then we ran right into the support level of Thursday’s low. Remember the market was closed on Friday. So follow that down for a total of 8 ticks. Nice little retracement. Thought we had a continuation and then just the, got kind of spooked out. Took a minus 1 tick and then of course it followed through in the direction that we were expecting.
Had a nice setup long into the no trade zone, but I did not take it. Notice I drew these arrows, I manually draw. The red dots are automatically plotted. The no trade zone lasts from 11:30 to 1:15 Eastern Standard Time. Look how narrow this no trade zone was.
Coming out, had a lot of sideways movement. Broke below our moving averages. Nice pullback. And we actually tried from the 1553.25 level, put a buy order in because it was break of the previous low and sat through a little bit of a shake out here. This took a lot of courage just to hold on to this one. And then it found its way through.
We had another Shark Attack trade follow through all the way up to 1556.5. And we were done for the day. So this is a no trade zone here at 3:50. We don’t enter any new trades, but if we’re already in a trade at that point, you stay in the trade until you either hit your profit target or you get stopped out.
To learn more about these and more advanced trade setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening, and I’ll see you tomorrow morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.