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
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Wednesday, August 7, 2013.
The market opened up this morning here at 1687.25 represented by this white dotted line. Yesterday’s low was up here at 1688.75. We were watching that. After the open, we do have a no trade zone from 9:30 to 9:45. We did have a nice little pro-range reversal for a total of 4 ticks. And then just after we got of the no trade zone another pro-range reversal. I didn’t quite get into this one. That’s why it’s colored with the yellow arrow.
I thought we had a nice clean Fibonacci pullback here. As a result I actually got stopped out for minus 10 ticks. For us to follow through, broke through our opening range. A continuation lower. Had a nice opportunity to get short, but this just happened so fast, did not get in. And you don’t want to start chasing a trade. So waited for another pullback, right in through here. Target 1, target 2 hit for a total of 8 ticks.
And then you’ll notice, I mean, our volume, while it has improved a little bit since July, has really still been kind of sideways motion. Lighter volume. Little choppier markets. We got above our moving average. Opportunity to get long, target 1, target 2. I got 8 ticks on this, but according to the text book we would have only taken 7 ticks on this particular trade.
Then we went into a no trade zone from 11:30 to 1:15 Eastern Standard Time. And we found overhead resistance right at the opening price. Pushed up a little bit higher, up near the yesterday’s low. And while we thought this was a solid target, never quite touched it a second time. Sideways motion.
We then started to work, almost a type of head fake. We were expecting to get a couple targets up here around 90.75 and 92.75. Never reached them. Actually had a first target off and would’ve got stopped out for minus 2 ticks. But I do want you to see this. Right into the close, after the close, the targets were hit.
To learn more 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’ll see you in the Shark Den in the 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.