Learn to Day Trade - Get Free Mini Course

Market Analysis and Financial Markets




Full Transcript

Technical analysis for Futures Trading – this is simplifying day trading. OK, so here we are. Let me just get my pointer. Real okay. Here we are. This is the open over the market. Eight thirty for me, which is nine thirty central.

I do a quick look through right here. And you could see that the market is going down. It’s not a beautiful downtrend, but it’s still going down, right?

So when I open up my charts and start to look at what’s happening here, I can make it a little bit more. Open is what’s happening here is that it’s obviously still going down.

Technical Analysis of Financial Markets

However, I am starting to notice some theories divergence. When I see divergence, that is a huge telltale sign that the market is either coming to a serious slowdown or it’s going to change completely.

Until this clears up, I don’t even like to think of anything going on. Just as I expected, the market had totally changed direction. I normally am starting to look right away.

The earliest possible movement out because of this yellow line. Not exactly where I wanted to. I didn’t get in here, however, because there was no divergence. It looks like a really strong push. It’s still very early in the trend. I got in right here, which is one take away from my 6, 10 a.m. main line right there.

I have my stop in place of five ticks and my profit at five ticks. Right here, I’m at this point where I just leave once I get in the trade, I just go away because, well, I’m pretty confident that it will go where I need to go. If not, I get stepped out.

That happens. And I just look for the next valid trade and look what happened here. It hit my target market, my target profit of five ticks, which is at one point and a quarter. But at this point, I’m starting to see some serious divergence.

And I’m going to sit this out again, because at this point, even though it obviously went here and I do have a little bit of an area right here, I’m starting to wonder what’s going on. Is it gonna continue to move?

It’s just not very compelling to me at the moment. All right. I even move it up right here. This is now a nice support area. I push it out even more. Now I’m just kind of sitting and waiting. So I see that it gave me a really nice push right here. I entered because there’s no divergence.

If anything, it actually what I call it kind of like a failure trade, because here it totally shifted direction and it didn’t continue down and went up. However, hey, what we say should happens. It happened. I got stepped out.

You know, it was a very good trade. I will take this trade a thousand times again and again. But, you know, a loss is a loss. What can I do? All right. So now it switched over again. That means it changed direction, but it didn’t go through this yellow line.

It’s telling me that maybe something’s going to that it’s going to continue, although I do need to see some serious confirmation. It gave it to me. It went straight up and bam,

I went right back in here. No divergence because we had this switch. This doesn’t count anymore, and I got in, I left. I got my five ticks. So I was up one and a quarter points to. I went in with three contracts today. That’s three point seven.

Five points. After that, I just kind of took the day off because I had a lot of things to do. I don’t know if you guys have seen my other video. I also teach my son’s school entrepreneurship for children.

Bam, I was out and it was a great day. I was happy with it. And this is my day trading analysis before February 8.

technical analysis for futures trading

Want to learn more about my journey and how I started day trading you can read it here or you can watch on my YouTube channel.

Do you want to start day trading with ease and confidence – Sign up for the FREE Mini Course.

Or if you have any questions you can always ask me at traderchick.com and if you want to learn day trading basics – check out Day Trading Courses.