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. Today is Tuesday January 7th, 2014.
Happy New Year to everyone. Started out the year a little slow. There wasn’t much trading that went on last week. I was actually out with the flu, so I had a nice recovery yesterday and today. Yesterday we traded mainly the Euro. Today we traded mostly the S&P emini.
I want you to notice here at 1827.75 represented by this white dotted line, this is the opening price. These horizontal lines are called the Shark bands and they tend to operate like magnets. The yellow lines are called an opening range. And coming out of the opening range this morning we had a nice little pull back for what’s called a hook pattern for a total of 23 ticks. Now that trade took about of 45 minutes. I want you to notice the entry is right here at around 1831. First target 1832, second target 1832 and a quarter, and third target was up here at 1834.25. So from the time of entry to the time of completion was about 45 minutes.
Shortly thereafter there was another hook pattern that started. I did not, I was already in the first one, so I did not trade this. Other traders in the room may have. Got its first target off. The entry here is 1832. First target was 1833, second target was 1834.25, and the T3 never got hit. We saw a pullback off of this 1834.50. And actually 1834.75 was the hourly range high and that’s the reason we had a reversal right here in the middle between these Shark bands. Generally you’ll see a gradual move up into this next Shark band.
Shortly thereafter, once we hit our mid-level, I want you to notice the anchor chart wave indicator popped in telling us to get out. So if you got your first target, second target, you would have gotten out right here at the first indication and then there was a little bit of a pullback. You’re not seeing, this is a higher timeframe chart, on the lower timeframe chart we had a nice little pullback for a Fibonacci trade for a 2 tick and 6 tick profit target all the way down for a total of 8 ticks.
To learn more about these and more advanced trade setups or to get a copy of the TraderShark trading manuals, please visit TraderShark.com. Thank you. Have a outstanding evening and I’ll see you bright and early in the Shark Den 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.