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Wave Trades Rule – Trading Video – March 12, 2014

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This video is designed for educational purposes only and to show some of our trade plan setups to reinforce our daily trade plan review.

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Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the S&P, Euro and crude futures. Today is Wednesday, March 12th, 2014.
 
The market opened up this morning here at 1858.25, represented by this white dotted line. We generally don’t trade this first 15 minutes unless it meets a couple of our exceptions. In this case we had a first opportunity to try to get short coming out of the no trade zone, right here at around 9:45 for a total of 10 ticks.
As we continue on into the morning we had a nice little pull-back. We had an opening range right here in the center. Opening range wraps around the opening price. And generally we don’t go for more than 6 ticks on a counter-trend trade. There wasn’t really any strength to the downside, no strength to the upside, so just a real quick 6 tick scale up here.
 
Got above the moving averages, and then there was literally no looking back. There’s no news reports that were that important. I think we had petroleum status report there at about 10:30. And then we had a nice beautiful hook pattern went off here, T1, T2 and T3 for a total of 4 ticks, 4 and 17, total of 25 ticks. So we continue on into the morning. There was several other hook patterns that were developing, but I was on that one for most of the day.
 
I want you to notice this is the opening price 58.25, 63 was yesterday’s low. We’re kind of watching it. Tested it once, tested it twice, tested it a third time. This is a little bit of a test. If you went into it. I did not get in on this one, you’ll notice the yellow arrow. However, when we nice went through it and pulled back, there’s your opportunity to get in. We had a wave trade. We had a Fibonacci setup. We had a hook pattern. Everything was setting up at this point. So anywhere, depending on the trades, there was also Shark Attack trade that went on in through here. Anywhere from 10 ticks to 6 points. That’s a total of 24 ticks. And that would be just with 2 contracts.
 
Shortly after that another hook pattern. Again the yellow ones are the ones I did not take, I’m just showing you for the Shark Den members. Then we go from 11:30 into 1:15 Eastern Standard Time is called the lunch time trading zone. There’s a couple nice trades in there. I don’t generally trade during that time frame.
 
Coming out, we’re looking for the market to push higher up into the 2:00. 2:00 looking for a potential selloff. We had it. And this is just giving a heads up when we broke below the moving averages. Nice pull-back for a continuation lower. I didn’t get in quite this early. Got in a little bit later right here, plus 4 to 12 ticks to the downside.
 
Why plus 4 to 12 is a countertrend trade? Well, once we’ve broken through and we’ve established an overhead resistance from a Shark band, the selling pressure coming in after 2:00 was going to determine whether we were going to go higher into the close or not, and that’s exactly what we saw. I generally don’t carry very high positions moving into the close. And I like to be out before that 4:00 close. So here, the last 10 minutes of the day, the final no trade zone for a total of 8 ticks.
 
To learn more about these or more advanced trade setups, or to get a copy of our TraderShark trading manual, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
 
Link to Video and Transcription
 

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