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. Today is Wednesday, October 10, 2012.
The market opened up this morning here at 1436.25. And I want you to notice one thing, one screenshot really says a lot here. From 9:30 until 11:30 there was literally, price action remained within its opening range. And we had a huge support level here on our Shark band. I want you to see that that’s not an ordinary width of a Shark band. So in this particular case, there was just so many numbers that consolidated short of getting a confluence, that it was from 1430 to 1434.
And then from 11:30 until 1:15 Eastern Standard Time this is a no trade zone, so we tend not to trade during this the no trade zone. It’s a lunch hour. Higher volatility, lower volume. And so if you did not take a trade in this case there was no trades for the day.
Coming out of the no trade zone about 1:15 we had more of the same of what happened this morning. Sideways chop. There’s the bodies of the candles all within each other. Wicks on top. Wicks on the bottom. That’s all they did, just running stops. Running stops. Just chop.
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.