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
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures and the Euro futures.
We’re going to start out with the Euro futures today. We generally start monitoring them at about 8:30. Some of the traders in the room like to watch them from 7:30 Eastern Standard Time. From 8:30 we saw a push higher, and it did look like it was going to continue higher, but we had right here at 36.48 and 36.54 were pivot levels. So I didn’t want to trade into them. But I did say in the room, that once we got above that 36.54, look for a pullback. And right here, beautiful opportunity to get in. We had 3 green arrows popping in for a continuation higher for a total of 15 ticks.
Once we met our resistance level or our range level, saw a nice little reversal. I don’t generally try to get into tops or bottoms. But once we had a pullback and continuation, nice little 8 tick move there. Found support, continuation, another 8 ticks there. So really nice morning on the Euro. I stopped watching the Euro about 11:30. I was not trading this much further, but any of these type of pullbacks can be met with buying opportunities based on our other market internal indicators.
Okay, let’s go ahead and go over to the emini S&P. This is a higher timeframe chart I want you to look at here. And when we first started the market this morning notice the selloff. We had like a 17.5 point Globex range. And with that we had a gap down by over 8 points. We, what I said in the room was that likelihood was for a continuation lower. This sweet spot of trading would have been in this dark blue area that we had lined up.
And so didn’t do any trading the first, what was this, the first, 30 minutes or so. And then at 10:00 the market tends to have a reversal, right? If it did not reverse, likelihood is continuation lower. In this case we had a nice little hook pattern setup, took a stop-out for minus 16 ticks. It did reach down and touch the T1.
Next hook pattern, hook patterns rule, for sure. I mean look at the percentages here. Anywhere from 8 to 25 ticks on this trade, next hook pattern 6 ticks, next hook pattern 6 ticks. Even if you got stopped out on your third contract. So when I put a range from plus 8 to 25, that means that whether you’re conservative trader or an aggressive trader and you’re watching me in the room, you have this opportunity conservatively going for the lower numbers. Aggressively, depending on the size of your bank account and your risk threshold, you can go ahead and push for these higher numbers.
Continuing on we had an invalid hook pattern, while it still did continue in our direction, there was no setup. Nice little pullback. Continuation another 8 to 24, just on a conservative approach, very strong, very good day.
We have big numbers down here at 1814. Said watch for a bounce here. We also saw big numbers down here at 1812. 1814 was the bouncing area. Again, if you’re going real conservative, you can go for 6 ticks. If you’re going a little more aggressive you could have gone anywhere from 12 to 16 ticks on a retracement back up here to 1817.50. It’s like learning a language right. You don’t walk into a Spanish class and learn the language in one day.
I want to thank you for watching. To learn more about these and more advanced trade setups or to get a copy of the TraderShark trader 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
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.