hello traders it's Samurai trader here back for video - so in the previous
video i justi to recap on some trading opportunities on the NQ 1 range and in
this video we're going to be looking at the 550 tick so market recaps some
trading opportunities for Friday the 5th of the 8th 2016 or still the 4th of
course 4th of the 8th in the USA as always we need to put the disclaimer up
if you haven't read that please stop and I won't read it out word for word but
I've been to some webinars and seminars will actually do that read out
word-for-word I don't think we need to do that but if you haven't read it
please do now if you're newed to my channel if you haven't subscribed please
do please go to my website to request information about the day traders fast
rate program where I cover all of these strategies and a whole lot more in my
training program including my indicators everything for one hundred and ninety
seven dollars all the setups etc etc anyway go there add some information but
let's get into this and look at some trading opportunities on the markets so
what we're looking at here and actually you let me just so we don't get
distracted with my live trades let me just turn these off and let's get to the
area I want to show you so what I've got on the screen here on my chart on the
left is an ES 550 tick and on the right for a high timeframe for the anchor
chart I've got the ES 1597 tick there so what we're looking at here is
art time wise in the morning and let me just get my little pointer here this is
8:45 in the morning heading towards the 9:30 open of course so we of course
there are just a ton of trading opportunities on the ES leading up to
that I prefer to be trading a lower timeframe at 233 but you can see your
pivot bounces it's just working absolute treat but we
can see here our volume is really picking up then we start the far away
but what I wanted to really emphasize here is this figure here this is just
might encounter I've just left unlike on the NQ video I just removed my
divergence indicator and once again you don't have to use these you want to keep
you keep your chart clean which is really important the more you've got on
there and after a period of time you're rarely even glanced down you might look
at them during quiet times but really you're going to be reading the rate of
the market now remember the old floor traders they didn't have computers or
indicators I was simply going by price action reading the tape price action and
volume it's a bit of a lost art in many ways because we've been I suppose we've
all been brainwashed a little bit that we need to have a ton of indicators on
our chart so what I'm looking at once again is what's happening as a scalper
I'm a momentum trader and I want to see volatility I want to see the market
moving and where you see me exit for one or two ticks and even a small loss at
times is when I see the market consolidating because as a scalper I
want to see the market moving not too fast because you know using market
orders if a market is really flying you'll get a couple of ticks slippage
quite often so we just want to have it where it's what I call tradable so up
here t20 what a ton of little trades here but what I wanted to point out here
is this notice them I write but we've got all of this good action here and
gapping away price action flying away from my 8 the write down of a pivot now
here you have got a potential and this actually qualifies here as a little t3
T19 little bit of divergence that was only good for for ticks okay we went up
there that's effectively a 21 or a 34 bounce close back under my 8 another
nice entry there and of course nice fall candle on my higher time frame down we
go for a pivot bounce we've got a nice T 3 and a pivot bounce tongue-in-cheek put
the farm okay so we've got the look at price
action on that so we can see very very clearly the floor pivot is giving us a
ton of support at this level price action here of course is kept away we're
getting some nice engulfing candles here on the higher time frame and we're in
where we go and now one thing I did want to point out here it's t19 now what you
can do of course is I'm very cautious heading up towards a market open is if
the market is tradable that is if you know it's not flying sometimes you see
the market going ballistic particularly if you've got a red flag news
announcement I just wouldn't be in the market and nor should you be you want to
wait for the market where you can sit down you can trade what your eyes is is
just telling you once again it can be careful and trading what you think
you've just got to be confirming do I have a legitimate setup so here looking
over at our height timeframe what can we see here we can see here that all my
EMA's are rising ok so we want to be following the trend direction now
getting back to this one here we did have an 89b but we've that's off t3 so
it's really a double bottom we've got here and assisted t7 we've got t3 you
can see on the higher time frame we've gone up with bounced on the t89 come down
and away it goes again okay so you just could be very cautious in trading
against strong divergence okay everything's pointing up okay so if we
look at our hard time frame look at this here everything's pointing up and away
it goes and this is why I do say to traders when you start to take your
counter trends such as you've got really a little t3 right there
and let's just have a look at this on the high timeframe you don't have any
real separation there okay you've got one big candle and there's it's not
really at t3 because your high timeframes not giving you at t3 so
number one remember on the NQ chart I showed you the chart when you
draw channels once again if I was to put a channel in here exactly the same thing
you'll find there that you've poked its head slightly through the channel and
here's the bottom channel so you don't have much room to move so moving along
here what I did want to really say then just trading with the trend until you
get a much better setups now see this t3 sitting up here see that there see price
separating and if I come over here look at this here it's bouncing look at price
separating right away you've got this great extension there is a more
legitimate entry now what actually happened if you'd have taken this one
and notice we've got no divergence here at that stage on your divergence
indicator here you didn't actually come up and it tested your hide of a tick so
remember your stop is two ticks above that high so you end up with a t7 set up
a nice double top T20 bang way it goes thank you it was good for six ticks and
look at this on the higher time frame we've got a nice effectively a double
top and look at the candle formation there okay over the bottom one up to the
top to sit and it's closed back down again so moving along here we can see
here we've got a nice our t7 and that trend lines a little bit crooked there
t7 off the 200 remember t7s off 200s are very accurate so you can see here you've
got that t7 now the comment here is not sure set it out wait for everything to
line up now this is where even I get chopped up at times and if you're not
really focused notice here we've got a lot of conflict okay you've got still
your 200 rise in your t89 your eights all over placed your 21 34 this is in the
area of consolidation not sure what to do just wait okay so if you waited till
you got over here starting to all get back line up again look what's happening
here on the higher time frame okay everything's straightening out as well
this is where you can be you know zone you could be really patient or nice
now remember as I said on the earlier video traders you only need three or
four trades a day to be netting your 200 plus a day and you can make a great
living at that level personally I like to go for higher targets because you
know days like today you can really just get in there and really have a great
great day so once you hit your target initially as I say to all newer traders
maybe hit your first target a hundred just go to sim then 150 then 200 250 but
when you get to four to five hundred dollars a day then you really that's
really where you know you're doing really well so getting back to this t20
what I wanted to point out was John from Canberra you had a question there about
the t20s you can see here yes you you right out there so what if you first
pull back and it's your first T21 which still is basically a T10 set up it's a
t25 you've got multiple entries there now to confirm it what I want to see is
ideally if you think you've got a t25 you want to have a stop ordering or a
letter and ordering one tick below there okay so a limit ordering one tick below
to stop you in to the market but you want to see continuation sometimes if
you go to NC just on this candle here of course it doesn't go anywhere you want
to see confirmation at price pushing through you've come down here alright
you come up you've got a 34b of course and let's just see what's happening over
on our high timeframe let me just go back here let's just get this here okay
we're coming down coming down up here alright blue this here got a t20
beautiful everything's down everything's rolling over that is a great trade this
is really increases the probability of follow-through yes it's going to keep
you out of some trades but hey doesn't matter when we're not after quantity of
trades or after quality now Michael are in an email this morning
- thank you very much for your email you mentioned about trying to get 30 trades
a day well if that's too many cuase opened just should
explain that trade it's what I say to newer traders is practice at least 30
trades a day on the simulator where they exactly meet the rules so you get really
used to executing on the platform etc but 30 rules-based trades that is I've
got to meet but conditions not just taking hip has it trades you've got to
be following the rules and at times he feels he's not getting 30 well
maybe make it 20 but with the target of 30 a day okay don't put yourself under
stress about it all right now getting back to answer here all right notice
here I've got against the t3 on the high timeframe so we look at this here but an
entry right there look over here you've got a 200B and it's a t3 look at price
accelerate away from the 8 so once again this trade would have failed so watch
these trades straight after at t3 or a t89 or a strong divergence trade
what are we got here then we got divergence we got a great double bottom
okay and away we go all right little double bottom over here on the high
timeframe and away we go so watch trading against t3s okay we can
see down here we've got a great t3 over here if we just go to a high timeframe
same thing close above the 8 away we go right
little done t7 up here but straight after that and I was trading at
this stage here the market was very slow it was like watching paint dry at this
stage and this is where this comment I made earlier where you see this and
you're not what's sure what's happening just set it out all right it will become
very slow it was ticking now I want to say very slow this is over half an hour
this is a 30 minute period and I decided to rap trading up for the day I'd had
enough of a day then but mind you appear we had a if I'd have
stayed in there was a nice some t3 but look at this here but it was only good
for we're saying nice well what if it doesn't deliver much and it formed a
little t7 now once again my two tick rule would have kept me in the
traders I said I stopped trading back here why because I like to put my stops
two ticks above or below my closest when high or lows so if I'd have gone in here
my stop would have been down here here would have been up here come up ticked
against me but as I mentioned the market had slowed right down and the market was
basically about to close anyway but back here of course you did have a nice
little double bottom so if you go over to your higher time frame it's a little
hard to see here you had divergence you had a double
bottom here on your higher time frame and divergence so once again using then
our ECL entry chart back here I wouldn't have got in until a close over the eight
double bottom on my high time frame divergence on my hard time frame entry
on the entry chart DEC so traders as you can see here there is just a ton of
trading opportunities very early everyday now what you've got to really
watch is when you see your EMA's going sideways that is horizontal or when they
start to intertwine okay roping together you're going to really watch that what
you want to do you see those EMA's fanning out now if you're going to refered
it of a higher time frame it means yes it's going to filter a lot more of a
trades but once again that's okay because what you're after is winners not
losers so get used to that so anyway traders for those that are new
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day traders fast-track program alright I'm rattling on I'm gonna finish
it here see you on the next video traders and don't forget any questions
please feel free to drop me an email and if any would like to have a chat to me
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thank you traders