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,
Good evening traders, this is Brian with TraderShark.com a website to learn how to trade the e-mini S&P 500 futures. Today is Tuesday June 17, 2014. Today the market opened up at 1926.50 as represented by the white line. I want you to notice that we have a no trade zone until about 9:45. Generally trade not to trade the first 15 minutes, and notice the sideways motion wrapping around opening price. Nice little break above opening price. We do have what’s called a pro-range reversal. I got in here against one of my indicators and then I got out and forced myself out, because I had gotten into a wrong trade. While I still made two ticks on it, nonetheless, it was an error on my part. But then we had a nice little pullback. Not deep enough down to our moving average, but deep enough to get into what’s called an EWT or an Extended Wave Trade long, in this particular case to a total of seven ticks.
Then another pullback, I was expecting ourselves to work our way up to the 1935 level. Got our first target off, got out for minus two ticks. Breaking through our moving average here, so a pullback. Target one, target two hit for six ticks. Did not realize that it was going to pull back all of the way to opening price. As a result, that would have been a nice trade if anybody held onto it a little bit longer than that. A nice little pullback for continuation, then we found support the trade of the day. An opportunity to get in long, if you’re only going for two or four ticks, got a total of six ticks safely out.
Once we moved our way back above the moving average, we just had firing off all of the way across the board pushing higher. This was anywhere from six to twenty six ticks on one trade, and we moved our way back up to the 1935 level was we were expecting. In the lunchtime trading zone, this is an area where the traders tend to go to lunch and as a result typically a lower volume. Coming out of the lunchtime trading zone, saw a nice little sideways motion. You could have certainly tried to scalp it but notice that this 1935 level was holding strong. Moving average was crunching up against it. There really weren’t any opportunities to trade on into the close. Tomorrow we should be seeing the F1OC announcement. Maybe we will see an initial movement in the morning and then we’ll wait for the announcement at two o’clock Eastern Standard Time, in the afternoon.
To learn about these and more advanced trade setups, or to get a copy of the TraderShark trading manual please visit TraderShark.com. Thank you, have a great evening and I will see you in the shark den in the morning.
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.