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 Friday March 1st, 2013.
The market opened up this morning here at 1506.75. Also represented by the Shark band. We had a range open of about 7.25 points. Notice from 9:30, here’s your opening timeframe. Had a nice little head fake or a pull to the downside. Pro-range reversal. And then with the news from the sequester you just knew everybody was going to be shorting this market. But what hurt the traders most would be a move to the upside.
We saw a break above opening range right here. A nice little hook pattern established itself. We had an ultimate target in here of around 1516.50 and 1518.50. So I drew that in there right at about 10:08. And then we also had another potential Shark Attack trade coming up. Please see the previous video, you’ll see the live screen of hitting the profit targets on the Shark Attack trade.
And you can also see the inverted head and shoulders here. There’s you first shoulder, right. Let’s go ahead and draw the neckline first. There’s your neckline, first shoulder. There’s your head. There’s your second shoulder. That’s what you do, you take your distance from the head to the neckline and that gives you an ultimate target up here around 1518.50.
Now that’s if you’re trailing a stop up. Otherwise the Shark Attack trade we were talking about everybody, potential targets were around 1511.25 and 1513.25. And with that, let’s go ahead and slide this screen. You’ll notice here at around 10:08 we talked about 1511.25, 1513.25 as a Shark Attack alert. And then our final target 1513.25. Now that’s in the Shark Attack trade. Aside from the Shark Attack trade we had the hook pattern completions up here around 1516.50 and 1518.50. If you don’t understand those terms, please feel free to check out the website or pick up a copy of the trading manual. Anything that you can do to help you improve your trading in this market.
Also, I want you to notice our momentum indicators were giving us nice clear sell signals. Then they had the retracement once they hit their 1518 level. The selloff, nice clear indication here to the downside. We then also, another opportunity, I didn’t get a chance to label it. Here that is here. We had a nice opportunity right there for continuation to the long side. So from our higher timeframe chart, it’s giving us nice clear signals. And then we’ll go to our trigger chart for completion.
Into the afternoon, just a lot of sideways chop. So just a typical Friday afternoon, you don’t want to be trading. Make your money in the mornings. Take a break during the no trade zones. And then have a great weekend.
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
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.