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 S&P, Euro, Crude and NASDAQ futures. Today is Wednesday, April 16th, 2014. The day after tax due date, or tax extension date, whichever one you choose. Yesterday was quite a day; we saw a move off of the lows by 25 and a half points. We don’t see that very often, generally we see a five, ten, or fifteen point pullback. But this one was 25 and a half points. So with that it is kind of like a runner, as the price action is running it needs to take a break, and slow down. It sets up consolidation for either a continuation, or a tracement. What we saw today was a sideways consolidation; we only had two trades today. We opened up here at 9:30 Eastern Standard Time at 1849 and a quarter, represented by this white dotted line. I want to show you the significance of the SharkBands. We have an opening fifteen minute range, and most of this price action is happening in the opening fifteen minute range. I am looking for trades in-between the SharkBands, which we like to call Open Water. Opening from 930 to 945 is a no-trade zone. I want to show you here, if we had a break above the 1851 level, I would have been looking for a long position up into 1856. Down here once we broke through the initial centralized band, we had a nice little open water here. We had a nice little retracement, for a total of twelve ticks on this trade. If you held on for the third contract, you would have had a total of sixteen ticks. Then you can see in a higher timeframe chart, how this is a lot of sideways motion. There was a lot of chop out.
If we broke through the 1843 level, we would have been looking for a continuation down into the 1838 level. Continuing on into the lunchtime trading zone, 11:30 to 1:15 Eastern Standard Time, it was a little bit of a run that I had what is called a Shark Line that was traveling in through here. There was just too much uncertainty for me to get into a trade. Notice the sideways motion here, and so really the best times to be trading is from 930 to 1130. I didn’t see much except for one trade this morning, and that one was from about 3:30 until 4 o’clock into the close. I want to show you there was one final trade. It was really challenging, we looked for kind of a hook pattern, that is target one and target two. Depending on where you entered, it was really fine. You could almost see the entry point in through here. There was nothing that really popped out at us. We talked about it in the SharkDen, some people held onto it from down here right down in the SharkBands, up here breaking out of the opening range for a total of two trades, and 26 ticks. 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 SharkDen 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.