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 afternoon traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, November 15th, 2013.
The market opened up this morning at 1790.25 represented by this white dotted line. From 9:30 to 9:45 this was a no trade zone, however, to every zone we do have an exception to the rule. And this we had a nice clean setup just prior to the open that’s a little more aggressive. If you want to be a little more conservative, immediately after the open another opportunity also presented itself for a total of 6 ticks. Not much, but it was a good initial start for the day.
Then we had what’s called a pro-range reversal. I did not take advantage of this. I just wanted you to see. We talked about it in the room. Some traders did, some traders did not. Continuing on into the morning, while it does look like the market is moving, this is just sideways chop. Our market internals were telling us to stay out. We stayed out all morning, right, kind of saved your stress and anxiety level.
By 11:30 to 1:15, this is called a lunchtime zone. And I tend not to trade that area, but there are traders that like to trade it. Look like there’s nice little selloff. I did not take advantage of that. Coming out of the no trade zone. Continuation higher. I do want you to notice how our momentum indicators were nice and clear, shooting for opportunities to push higher. Opportunities to push higher. We talk about these extended areas quite a bit in the Shark Den.
Working our way on up into the close. What you did not see is that we had Shark band levels that were stalling price. And this was just a slow grind. A lot of our market internals were still flat to yellow. And those were indicators of areas for us not to be getting in. So options expiration and that kept me out the whole day. So all in all it was a total of 6 ticks. I did have 2 going into the close. Some of the other traders were able to take advantage of this push higher.
And we talked about a Shark band up here at 96 to 97, 96 to 97. So as long as you got your first target off, it’s okay to hold a position into the no trade zone. And in this case we talked about 95.5, which we hit it right there. Right there at about 3:59.
Let’s take a quick look at a higher timeframe chart. We do have an opening range here. And we talk about breakouts to the long side, breakouts to the short side. We did not take these trades. And because the market internals were telling us to stay out. So just a sideways chop all afternoon. And then right here, just at about 2:30, the market did push higher on up into the target areas and we talked about 95.5.
I want to take a brief look at the Euro. We do start watching the Euro at about 8:30 in the morning, and we watch it until about 11:30 Eastern Standard Time. Nice long position, another nice long position, another nice long position. We talk about this in the Shark Den. And then at around 9:40 or so we had an opportunity to get short. Got the first target off. Got stopped out. Our stop moves very tight after we got our first target. And then we watched it continue on.
However, there was another opportunity to get in short, 8 ticks. Another opportunity to get short 8 ticks. A total of 16 ticks on that particular move. Then once we obtained our support levels, we watched for a first bounce, second opportunity. We then did jump in right at this area. Just a little bit after 11:00. Continuation higher. Anywhere from 7 to 13 ticks on this particular trade, depending on whether you’re doing conservative or aggressive.
If you’d like to learn more about these or more advanced trade setups or to get copies of the TraderShark trading manuals please visit TraderShark.com. Thank you. Have a great weekend, and I’ll see you in the Shark Den on Monday morning.
Link to Video and Transcription
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