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.

TraderShark Trading Manual

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TraderShark.com

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 Thursday, October 11, 2012.
 
The market opened up this morning here at 1437 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. However, there was some unemployment numbers that came out positive. First pullback opportunity here. We did trade pre-market. I’m not showing it on here. We pulled 2 ticks and 3 ticks and then we had the market open. We don’t generally want to be in a trade at the market open. Obviously that’s like a news report movement in price action.
 
We waited for the first opening range. Ran across the moving average. Nice pullback here. Now, I got in late. This is a classic mistake, chasing a trade. If you took your standard entry and got in here or tried at least by 1 tick, you would have hit your target 1 and target 2 for a total of 10 ticks. However, I did a classic mistake. I traded it. I was a little bit late getting in. Did not get my target 1. Pulled back to about minus 4 ticks and would have gotten stopped out for minus 8 with 2 contracts. So I’m going to label this as minus 8 to a total of plus 10. I took a loss of 8 ticks. Some traders in the room, if you hit it properly, you would have been out plus 10 ticks.
 
And then as the market continued on price action continued. You don’t want to be buying at the highs of the day and I want you to notice we did have what’s called an extended wave trade long. And got in here. Target 1 was hit. Got stopped out for 2 ticks over on this side.
 
We then cross back through our moving average. Tested our opening price. I did not get into this trade because I generally don’t trade within 1 point of opening price. In this case a nice clean setup. See that wave trade signal right here for a total of 6 ticks. It’s colored yellow because I did not take that trade.
 
We then went into what’s called a no trade zone from 11:30 until 1:15 Eastern Standard Time. And that’s just a period of higher volatility, lower volume. Coming out of that no trade zone, I was not here. I was actually at a meeting. Did not get back in until around 2:00. But this is a nice clean setup. I think some of the traders in the room did actually get a hold of this one. Trending outside of the opening range. Target 1 and target 2 for a total of 10 ticks.
 
Then just as I was settling into the trading area, there was a counter trend trade that set up. Target 1 was hit. Got stopped out for minus 2 ticks on that trade. Again, they’re yellow if I did not take them. They’re colored red if I shorted and green if I went long. In this particular case just as everything was settling down thinking we had a nice trend to the downside, target 1 was hit got stopped out for minus 2 ticks. And you can’t just stop because you’ve got a reduced risk stop or a full stop out. You’ve got to continue to follow according to your trade patterns. Wave set up here just about 3:30 in the afternoon. It is counter-trend. Target 1 and target 2 hit for a total of 6 ticks.
 
And then you’ll notice the last trade into the close, by that time there was quite a bit of sideways movement. Did not expect this market. But the setup. There’s your wave trade setup. Target 1 and target 2 hit for a total of 6 ticks. Again, yellow, I did not take it.
 
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, enjoy the debate tonight, 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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 Wednesday, October 10, 2012.
 
The market opened up this morning here at 1436.25. And I want you to notice one thing, one screenshot really says a lot here. From 9:30 until 11:30 there was literally, price action remained within its opening range. And we had a huge support level here on our Shark band. I want you to see that that’s not an ordinary width of a Shark band. So in this particular case, there was just so many numbers that consolidated short of getting a confluence, that it was from 1430 to 1434.
 
And then from 11:30 until 1:15 Eastern Standard Time this is a no trade zone, so we tend not to trade during this the no trade zone. It’s a lunch hour. Higher volatility, lower volume. And so if you did not take a trade in this case there was no trades for the day.
 
Coming out of the no trade zone about 1:15 we had more of the same of what happened this morning. Sideways chop. There’s the bodies of the candles all within each other. Wicks on top. Wicks on the bottom. That’s all they did, just running stops. Running stops. Just chop.
 
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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 9th, 2012.
 
The market opened up this morning here at 1449.75 represented by this white dotted line. We generally don’t trade from 9:30 until 9:45. Coming out of the no trade zone you can see we had a lot of sideways movement. It continued to work its way around the moving average really close to opening price. Found a lot of overhead resistance. Just not any clean opportunities to get into this market.
 
Until we got our first indication right here, and that was our momentum indicator down below. And then we had several more opportunities. I wasn’t able to get in until right here around 10:49, an opportunity to get short. I actually took on 4 contracts in this position because we also had the market internals in our favor. And we had the negative news out of Europe. So we took our target 1, target 2, and target 3 for a total of 32 ticks on 1 trade.
 
Had a couple trades on the Euro today. Two good trades in that. And then these were just a little bit of pullbacks prior to hitting our Shark band. Worked our way all the way down here to the 1437.50 level. And once we hit our 1437.50 level we saw a nice sideways movement into the no trade zone from 11:30 until 1:15 Eastern Standard Time.
 
Worked our way back up for a 5 point pullback. However, we didn’t get on the other side of the moving average and so we remained inside. Brief chop. No further trades. There was a couple of opportunities to get in short once we had a breakthrough. Pullback. Right in through here we had an opportunity to get in for a quick 4 ticks and that was it for the day. One trade for 32 ticks.
 
To learn more about these and more advanced trade setup, 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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 Monday, October 8th, 2012. Columbus Day for many of the banks. And here in the United State a lot of the volume was not to be expected today. We had no other news reports. So expect a lot of sideways movement.
 
We did have a narrow opening range. A little bit wider Globex. With the volume we just really couldn’t, it’s probably better to be sitting on your hands on a holiday like this. My natural bias is a choppy to bullish day. So the market opened up here around 1450.25. Right up here. And that’s pretty much the way the whole market went sideways.
 
We did see what’s called a Shark Attack trade set up, right here at about a little after 10. I only used 1 contract on this particular trade because, you know, you have to manage your risk and with the lower volume. Now this is a 2 point and 4 point move. So I only used 1 contract and it was just not going to go my way and I got stopped out for minus 6 ticks. Not a big loss there, but just you want to be aware of it.
 
We then had the opportunity to pullback. And then try it again. Broke through the moving average. Pullback. We were able to get off a target 1. Here in this particular case I did use 2 contracts because I thought I had a higher probability of going in that direction. Got my first target off and got stopped out for minus 2 ticks. And then we went into the no trade zone.
 
So you can see there was just a lot of sideways movement. Choppy day. Coming out of the no trade zone had another opportunity or a re-approach to yesterday’s low. And I had a trailing stop of this one thinking we may have a little bit of a burst. And it really worked its way up to plus 12 ticks and I got a stop of plus 4. And that was it for the day.
 
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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 Thursday, October 4th, 2012.
 
The market opened up here at 1450.50. And we had a news report at 8:30 and at 10:00. I don’t know as though the news report was what actually pushed this market. I know the ECU was also meeting. But we had a quick move to the upside. Now the challenge here that we’re looking at a higher timeframe chart is these Shark bands were so close. It really didn’t give us any opportunities for pullbacks. We are pullback traders.
 
And this break out, you’re going to see here when I show you a lower timeframe chart kind of waffled back and forth between these two Shark bands all day. So it was a pretty choppy day. We ended up positive, but all in all, when you look at the Shark bands, bring the Shark bands into the picture we really like for price action to pull out. Nice little pullback and continuation to the next Shark band. Same here at the low side. Break down to the downside. Pullback. And continue to the Shark band. We didn’t really see that. We saw a lot of sideways chop. So let’s go ahead and go on to the lower timeframe chart.
 
So from our lower timeframe chart, we generally don’t trade from 9:30 until 9:45. And then we really didn’t have any trade setups up until the 10:00 news report. So with that we saw some sideways movement. The breakout, again, I’m not a breakout trader so I did not have an opportunity to get on to this run. We were waiting for our pullback. You’ll notice here our momentum indicator we got into an extended position or an overbought position, which could have allowed you to do a market order, a little more aggressive traders.
 
But I had a nice pullback here. It happened so fast we did not have an opportunity to get on to it. We did talk about it in the room. We even had a wave trade indication in that direction. But I colored it yellow because I didn’t get a hold of that trade.
 
Then we had a pullback. Now remember now we’re at the top of our fifth wave, right. You got your one, you got a two, three, four and your top of your fifth wave. Never buy at the top of a fifth wave. In this particular case we bought in at the highs. Little bit of a mistake there. In hindsight 20/20. We got our first target off and got stopped out for minus 2 ticks. I held on for a little longer. I took a minus 6 tick stop on this until it crossed my moving average. And also my anchor charts also indicated to exit the position.
 
Then immediately after that we broke through our moving average. Crossed to the downside. Target 1 and target 2 hit for a total of 6 ticks. Tried it again. Another pullback. You notice our wave trade indicators firing off to the downside. Tried it again. Target 1 was hit and got stopped out for minus 2 ticks only to see it continue on into the downside motion. Now remember these were wrapped between the two Shark bands so we had a lot of congestion and sideways movement.
 
And then there was no trades until we went into the no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone we had an opportunity to get short. You’ll notice that the market pushed up, bounced off of our moving average. Had a nice pullback. And generally at the highs of the day we’re not quite at the highs of the day. At 4:00 we look for opportunities to get short. Had a nice wave trade indication setup. Took it. Took a total of 6 ticks. Probably could have held on a little longer. Generally you’ll see this thing run to 10 to 12 ticks or more. And then we went into some sideways consolidation.
 
So that’s pretty much the way the rest of the day wrapped itself up. There’s another opportunity, I didn’t fill it in there, there’s another 6 ticks here going to the downside. Another wave trade indication. Broke through the moving average. Pulled back. Kind of a questionable whether somebody would have shorted here, but once we got a breakthrough of our moving average and a pullback we had the opportunity to short into the close.
 
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 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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 2nd, 2012.
 
This morning I’m going to focus on something just a little bit different. I’m going to go ahead and show you the 30 minute chart. And I want you to notice we had talked about this potential support line all morning. And it’s right down here around 1432. We talked about it. Once it started to hit there we said we wanted to be careful. Even though it took 30, 60, 90 minutes this is a longer timeframe chart. So when you’re a little bit uncertain about a trade direction move to your higher timeframe charts. Take a step back and it will give you a better perspective. Now let’s go ahead and look at the lower timeframe chart.
 
The market opened up this morning here at 1443.25 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. Immediately coming out of the no trade zone we had downside pressure. An opportunity to get short. Target 1 and target 2 hit for a total of 11 ticks.
 
Continuing on into the morning we had a nice little pullback. An opportunity to get short again ride it down. Target 1 was hit. We got stopped out. We saw in market internal indicators as well as a wave trade crossed against us here. Exited for a loss of 1 tick.
 
Market continued. Even though we had a cross of the moving averages to the upside, we found resistance on the opening price for a selloff retracement. Continuation. A total of 7 ticks. Target 1 and target 2 hit for a total of 7 ticks.
 
Then, you know, hindsight’s always 20/20. You can see even some of our momentum indicators are pointing down. Tried an opportunity to get long here and the market internals went against us quickly we took a loss of minus 8 ticks total.
 
Then we went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Notice the sideways movement in this particular market. Coming out of the no trade zone an opportunity to get long. Got target 1 off and go stopped out for minus 2 ticks only to be followed through. When you get a stop out be aware of where your price action’s working in relationship to the moving average. An opportunity to get short. Target 1 was hit. Took a little pressure before it dropped off for a total of 13 ticks on that particular trade.
 
We then, I want you to notice something here. We’re going to pop on, you can see a channel developing very nicely here. And when it did, the high right here at 1434.5. I was telling people that I’m looking at putting a buy order above the 1434.5 or below the low here at 1432.25 for this to continue lower. But remember the 30 minute chart we just looked at, 1432 was a key support level. It went on for about an hour and a half before we had a nice little breakthrough. The upside, a little bit of downside pressure before it launched off. Easily 4 ticks for 1 point, 8 ticks for 2 points. We eventually hit our ultimate target of 4 points. So on this particular trade, it’s called a Shark Attack trade 2 point and 4 points, total of 6 points on that particular trade. And then we went into the no trade zone.
 
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 night 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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 Friday, September 28th, 2012.
 
The market opened up this morning at 1435.5 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. It’s a period of choppiness and the bulls and the bears trying to determine who’s going to take control today. I did actually have, the one exception to the rule is we’ll take a trade in the direction of the half gap fill if it sets up. It did set up in this case, however I didn’t have a momentum indicator with me and as a result I took a full stop out. So I know a lot of people had been expecting me to get caught one of these days. And I did. I got a full stop out here, minus 16 ticks. But you can’t let that affect you. You got to go on for the rest of the day.
 
Coming out of the no trade zone here at 9:45 we had a nice opportunity to get short. I did not get into this. I was pretty much waiting to see how price action was going to materialize. We just came after a 9:45 news report and then we’re going into a consumer sentiment report at 9:55, so I didn’t want to play around that close to the news reports.
 
Coming out of the 10:00 timeframe we blew through our moving average. Pulled back. Another opportunity to get long. Got target 1 off. Got stopped out for minus 2 ticks. As we continued on we saw price action drop below the moving averages. Now we had a trend break. So our trendline should be 2 ticks and 8 ticks. And in this case I scaled out a little bit early for 2 ticks and 6. Took a total of 8 ticks on that trade.
 
And as we continued forward, you notice how price action just kind of continued to revolve around this moving average. So we had a nice little wedge forming. Okay, we don’t know what’s going on on the right-hand side of the screen. But there’s 1, 2, 3, 4, 5, touches and then a breakout. We weren’t really sure whether this was a fake out break out or not, you know, it came back up and taught. We had a kiss good bye here for a continuation to the downside. Another setup on a momentum indicator. Went short. Did a little bit of flinching. No targets hit. And you know what, I just, bottom line is I got scared out. I didn’t feel comfortable with this sideways movement and the chop that I saw with other indicators. So I flattened out for zero. If I held on, probably would have hit my target 1 and target 2.
 
Our no trade zone is from 11:30 until 1:15 Eastern Standard Time. Now I call it a no trade zone. I don’t trade in it. However, our indicators set up and are still successful. So I’m not trading it. If you choose to trade it that’s a prerogative. I want you to see a nice break through the moving averages. Pullback. Continuation. And this thing just took off.
 
Coming out of the no trade zone the continuation to the upside was quite apparent, but there was no pullbacks so it really didn’t give me an opportunity to get in. I was looking to get long in through here. However, we started to get bordered by the clock and I do watch the clock. At 2:00 we take no further long positions we want to be out of any long positions by 2:00. Found a nice clean setup here. Momentum gave us a nice wave trade setup. Target 1 and target 2 were hit. In this particular case 4 ticks on the first target, 8 ticks on the second target. Total of 12 ticks with 2 contracts.
 
Broke through to the downside. Had a little bit of a pullback. Thought we may have an extension. Target 1 was hit, got stopped out for minus 2 ticks. As we continued on into the day each one of these met with pullbacks, which stay below the moving averages. Pullback. Stay below the moving averages. You could have scalped out coming back through getting ready to go into the close of the day breaking through. Working our way right back towards opening price. When you’re in within 1 point of opening price you know that just tends to be a choppy timeframe. And we close up the week.
 
I want to thank you for watching. 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 weekend and I’ll see you 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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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 Wednesday, September 26th, 2012.
 
The market opened up this morning here at 1435.25 represented by this white line. 1435 was actually yesterday’s low, so we were aware of this level up here. Price action came out outside the no trade zone. First 15 minutes of the day we don’t generally trade.
 
Didn’t really have any opportunities to get in until right here about 10:20. Had an opportunity to get short. Target 1 and target 2 were hit, so depending on your entry you could have gotten anywhere from plus 9 to plus 12 ticks on that particular trade.
 
We then found support at 1427.50. Nice little bounce for 4 ticks. Two ticks and 4 ticks were our profit targets. And then quickly get back on it. Target 1 and target 2 for a total of 8 ticks to the downside. We then had a nice little bounce off the bottom. We really probably should have waited for our price action to get above this particular moving average. Did not. Got target 1 off and got stopped out a total of minus 2. Plus 2 and minus 4 for minus 2 ticks.
 
Price action continued on into the no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone did not have any other opportunities. Kind of wrapped around this moving average. We did see selling pressure going into the close. Couple other opportunities. We even had a shorting opportunity right here. It was pretty choppy in the afternoon.
 
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 and we’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.

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.

TraderShark Trading Manual

Join the Shark Den!

TraderShark.com

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, September 25th, 2012.
 
The market opened up this morning here at 1454 where the white dotted line is. I want you to notice we generally don’t trade from 9:30 until 9:45. Just a period of higher volatility. Coming out we really didn’t see much movement. A nice little break to the upside. Pullback. It was going into a Shark band, so I didn’t take this trade. But it was a nice clean setup. You see that wave trade indicator here.
 
Price action still continued the sideways motion, so we were kind of riding right through this entire Shark band. Let’s see if maybe I can show you a screenshot of that. Right here you can see the first part of the morning, they appeared to want to selloff and then just ran sideways. And kind of got stuck in the middle of this upper Shark band. The next Shark band cut through like butter. Found resistance. Continuation. And then you saw a little bit of a bounce. Not much. All the other market internal indicators were just indicating pure bearishness. Now one should have tried to buy in through here. And then worked its way down. Finally found support on the third Shark band and even broke through that third before 4:00.
 
So the reason I showed you that was notice this sideways movement. You know, even a break below the moving average trend to get short, you don’t want to do that into the opening range. A break above the moving average. Pullback. Nice. It was actually 2 opportunities to get long. But kept our profit targets really tight. This was just from the past couple weeks that we’ve seen sideways choppiness. We kept our stops very tight and our profit targets very tight.
 
Then we went into the no trade zone. Now I want to let you know here we don’t trade. We don’t enter any new trades. I just want you to see we had a nice sell signal in the no trade zone and a continuation to the downside. Again, below the moving averages.
 
Coming out of the no trade zone the pressure was still to the downside. We had good news this morning, right. Housing stock prices were up. Consumer confidence was up. Nobody was expecting this. And it was the exact reason why we had the selloff. Look at these red dots below the moving averages. Red dots below the moving averages. Just continue to have bearish pressure to the downside. I was not here about this time, I had an appointment. So hopefully some traders inside the room were able to take advantage of these down moves.
 
This may have gotten a reduced risk stop out. Continuation. Continuation. Continuation. Look at the red dots. Just everything firing off. This is a yellow, this is one we talked about but I did not take it, it just happened so fast. Continuation. Look at our green dots. They’re below the moving averages. You don’t take the green dots. No waves to the long side.
 
And we had one nice clean, some people would have gotten in here. Taken a little bit of heat. A little bit of pressure. Finally a nice selloff for 15 ticks into the close. And then the pressure just continued to the downside. So the biggest thing that we learned today was really patience. Watch your market internals. And when not to be going long. You can be short and hold onto a short position, but with all of our market internals telling us don’t get in long you don’t want to try and call a bottom. Calling a bottom is devastating to your financial account.
 
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 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.