Learn to Day-Trade the Emini S&P Futures

Consolidation after Move – Trading Video – March 14, 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 afternoon traders, this is Brian with TraderShark.com, an educational website to learn how to trade the S&P, Euro and crude futures. We’ll soon be adding the NASDAQ in next month. Today is Friday, March 14th, 2014.
The market opened up here at 1836.25, but I want you to notice the opening range. We had quite a substantial sell-off yesterday afternoon, expected sideways chop today, either sideways chop or continuation lower. And sideways chop is what we had. Today was the first full trading day of the new June contract. So with that being said, always exercising a little bit extra caution on the day the contracts get initiated. And the Shark bands are not going to be quite as valid. I want you to notice they weren’t even touched here on the high side.
Just coming in through the morning, after the first 15 minutes we had negative news out of the Consumer Center report and there really wasn’t much reaction to it, right? It was below consensus range. We had a trade on up into that news report. Target 1 and Target 2 were hit on a hook pattern of 4 ticks, 10 ticks, the third contract got stopped off for zero.
Notice this afternoon no trades until near the close right here at about what, 3:45. I’ll go ahead and, let’s go ahead and look at a different screenshot on that. This is a screenshot of the latter part of the afternoon. Right there, at a set about 3:45 Eastern Standard Time that we had a nice set-up on our anchor chart. Nice set-up on our trigger and an opportunity to get in for a total of 9 ticks. Why 9 ticks? We had a big buying block here at 1833. Regular target would be around 1833.5. I got out even 1 tick sooner at 1833.75. So 2 ticks and 7 ticks for a total of 9 ticks on that final trade.
Again, patience is a virtue. Paid off in the latter part of the afternoon. I don’t generally trade the afternoons except that last half-hour of the day. Keep in mind that when a news report comes out that is negative and the market moves higher or goes flat it will tend to have a sell-off or a follow through on the news report in the afternoons. It’s a matter of when. We don’t know when. Watch for the volume to step in and that’s when we’re going to go with it.
Hope you enjoyed it. Please feel free to check us out. We have a free trial coming up next week. Email me at info@tradershark.com. I should have a link up on the website; otherwise I will send you an email direct. Thank you for watching. To learn more about these and more advanced trade set-ups, to get copies of the TraderShark trading manual, please visit TraderShark.com.
Link to Video and Transcription