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, an educational website to learn how to trade the emini S&P futures.
The market opened up this morning at 1678.00 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45, yet we did have an actual pro-range reversal. It’s colored in yellow because I did not take it. Nice pullback into our moving averages. Continuation higher. We had news right here at 9:55, consumer sentiment report. It was within consensus range, so it really was pretty much of a non-market moving event.
Found our overhead resistance, pulled back. Overhead resistance again, it was our moving average for a nice selling opportunity for a total of 20 ticks on that first trade. Actually added on to our position here as we continued on through. Notice how our trigger chart continued to fire off to the downside. And then we had a final, actually third opportunity, fired off short. Got out early as we found support down here at this 72 to 73 level.
As we bounced off of that support level we broke up through our moving averages. Pulled back, had an opportunity of getting in here, would have been a little bit later. Pushed up. It is still a counter-trend trade until our significant levels are broken. In that regard, only took 6 ticks on it, but the continuation was a nice move upward into our next no trade zone.
From 11:30 until 1:15 Eastern Standard Time. That’s a period of time that I do not trade. In this particular case we do know that approximately 70% of the time that no trade zone will tend to move higher. Coming out of the no trade zone, another opportunity to get long. Notice how we pushed up higher until we got back up to our overhead resistance level. Selling pressure. Kind of a delayed 2:00 selloff. But we do know that on our time chart, on the trade plan, it does indicate that for us not to be taking any long positions.
And once we got a nice clean setup to the downside, an opportunity to get into a 3 point pullback for a total of 15 ticks. In this particular case price action pulled back up through our moving average again. This is almost a nice Fib trade. Pulled back, our auto wave actually fired off. Another target 1 and 2. I did not get into this trade.
Going into the close we had another opportunity. Nice setup here. Trendline break, continuation higher and then on into the final close. I want you to notice we were talking about hitting an upside target of 86.50. I scaled out here at 86 even, primarily because we were in a no trade zone, the final no trade zone of the day. Ten minutes before the end of the day. And then it did continue to grind higher 86.50 level.
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 in the Shark Den 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.