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Tidal Wave Trade – June 7, 2013


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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 emini S&P futures. Today is Friday, June 7th, 2013.
 
The market opened up this morning here at 1633 represented by this white dotted line. We had gapped up by 10 points, so we were looking for a continuation higher for what’s called a Tidal Wave trade. That’s where we buy one contract and hold for the day. In this particular case I bought 2 contracts. I got my first target off, this is a pro-range reversal. We generally don’t trade from 9:30 to 9:45 except on a pro-range reversal. And in that case, I got stopped out on my second contract for minus 4 ticks.
 
Coming out of the no trade zone, we had a nice little pullback. Had an auto wave fire off. The yellow arrows are trades that I did not take, but then we saw that this was the commitment. Right here, a continuation, a break out at around 9:55. Got a total of 35 ticks on this particular trade. Again, this is a tidal wave trade. If you didn’t get in here, had a nice little pullback here. Opportunity, notice the momentum indicator continuing higher. This was probably a little more difficult to take. We were right here around opening price. Held on through that. Continuation higher. Nice little pullback here.
 
This was another, 2 more contracts tried to add on. Go the first contract off and got stopped out over here for minus 2 ticks. On the third trade here we got stopped out for minus 4 ticks. Continuation, look how we had a lot of sideways movement. Another opportunity to get in. Target 1 and target 2 hit for a total of 9 ticks. And then we went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Tendency is just lower volume, higher volatility.
 
I have a yellow arrow here. This is during the no trade zone, but I want you to see the auto wave fired off. A little bit of a pullback. Another opportunity to get in. Target 1 was hit. Got stopped out for minus 2 ticks. Our stops were pretty tight. In this particular case we ran into the 2:00 timeframe and we were looking for a shorting opportunity. Opportunity to get short. Got our first target and second target, all the way down to the opening price. Closed out of our position. Continued higher, working above the moving average. Little pullback and into the close, another 12 ticks, plus 4 and plus 8 for 12 ticks into the close.
 
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Thank you. Have a great weekend and I’ll see you in the Shark Den on Monday 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.

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