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
Info@TraderShark.com
Good afternoon traders. This is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures.
This is a screenshot from Monday morning. Some traders had asked for me to review because it was quite a sideways moving day. There were no news reports to catalyst the market one way or the other. The opening price was 1952. We saw immediate selling pressure to the downside. We had a nice little pullback here just before getting out of our opening 15 minute range for a continuation, finding support down around 1937.50. We generally don’t trade the opening 15 minute range of the day.
Without any news reports we were kind of running into some sideways chop. Then right there around 10:00 we had an opportunity for a continuation higher for 2 ticks and 4 ticks. Then it did stretch a little higher than that. Retracement. Again, you can see the sideways chop. The yellow candles are giving us a cautionary symbol. There was a little bit of a setup here long, but I think at that time it was 10:45, we were in a trending timeframe without any real trend. We had to respect that.
Just prior to going into the lunchtime trading zone, there was a little bit of selling pressure for 2 and 6 ticks. From 11:30 until 1:15 Eastern Standard Time is considered a lunchtime trading zone, wasn’t real interested in trading during that timeframe. I don’t trade in the afternoons. The first 2 hours of the day, 9:30 to 11:30 and the last half hour into the close.
This is Tuesday, September 15, 2015. The market opened up at 1948.75. You can see the opening range here. The price action began to work its way lower. The Empire Manufacturing Index was well below consensus range, but I really think this stall in through here caught a lot of traders off guard. I got into position. I flattened out for 0 profit, 0 loss. Then as we watched this market, it wasn’t going to let up. The continuation higher right there on a couple hook patterns longer, 5 and 10 ticks, 4 and 3 ticks and then did not take the third hook pattern. With that being said, this is the higher timeframe chart for more aggressive traders. Let’s go to the lower timeframe chart.
This is a lower timeframe chart, coming out of the early morning no-trade zone. You can see the price action pushing higher. We established a level. Nice pullback from that level. This is where your hook pattern took off. We took that on the higher timeframe chart.
Working our way back up to above the opening price for a continuation higher. All we did, is we just kept launching on moves all morning. Did make one final attempt here at about 11:00. I got my first target off and I got stopped out for minus 1 tick. Then we went into the lunchtime trading zone. Lunchtime trading zone is from 11:30 to 1:15 Eastern Standard Time. Not much. If you were trading this opportunity, there was an opportunity for 6 ticks. Very quick. Then we want to watch the clock at this time. From1:00 until about 2:00 the market continued to push higher.
We had a little bit of a pullback here, was looking for some selling pressure. The pullback worked its way right down into the kick I was talking about, 1964.75 to 1966.75 for a pullback and then the launch higher without ever looking back. We saw some nice price action in the afternoon and then I jumped into the trades, coming into the quick 7 ticks to the downside, another 8 ticks to the downside on into the close.
To learn more about these and more advanced trade setups, please visit TraderShark.com and have a great remaining part of the day.
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.