Warrior Trading Blog

Island Trading LIVE +$840 | Steve’s Futures Pulse 170

Steve_7.1

Hey. What’s up, traders? I am on the go here in beautiful Captiva Island. I’m just steps from the beach here and just finished up trading in the futures trading chatroom. We made $840 in, well, under an hour, and I think it gives a great example about how you can take your trading activities with you on the go even when traveling with family. It’s the greatest job on the planet. After all, this was my Monday morning workday. Guess what? I’m out of here. Enjoy the full recap as I have it for you for today’s Futures Pulse, and I look forward to doing it again with you here right at the beach tomorrow.

Coming to you live here in beautiful Captiva Island. I’m literally just steps from the ocean, and in probably under an hour, I’ll be there myself in due time but wanted to spend a little time with you here with my mobile trading station to see if there’s any opportunities ripe for us to have a Monday morning trader-style here. So, let’s get to work here.

This is the E-mini S&P. You know the drill here. This E-mini S&P you could see is at 29.80 and a quarter, up huge, up 36 to kick off that September contract. A lot of room down below as I look at this trade, especially when I look at that 30-minute chart. I see we’re way up here plus 39, which leaves a lot of room for us, as if you look at my cursor over there. A lot of room for us to see some downside trading opportunity. Now, that’s going to kick if we get down… got to get down about four points lower today, 29.76. You’ll see that on that most recent set of boxes over there, and you could see on the 30-minute time horizon over on the right, that green color line comes in at 29.70 for us, so six points lower from where we are, okay?

So, let’s go cycle through some of our other major markets here. My transitions here are going to be a little slower than normal because I have to retype on some of my markets here, okay? So, here’s August gold. A big gap down here. Look at that big alligator jaws here, and the market’s already starting to fill through that open alligator’s mouth that you see, okay? We’re going to continue to see if this market will fill through to the upside. Not sure if it will. We’re going to find out, obviously, in due time if that’s indeed the case, and we’ll continue to, of course, watch when that happens.

I’ve got to switch up something here on my Vega indicator. Actually, give me just one moment. I just noticed something here that I need to… bear with me. Bear with me. Okay. There we go. Cool. So, the open alligator’s mouth here is one we’re going to pay attention to. Now remember, that’s going to be a common relationship, right, if we’re going to expect maybe a breakdown in the E-mini S&P. We oftentimes are going to expect that goal to rally as well, so let’s keep an eye on that relationship here today.

But before we move… take another re visitation of those, let’s take a look here at some of the interest rates. The major one I want to focus on here today is going to be bonds. Bonds here is going to load up the chart. Again, we got 10 and 30s is what we’re looking at on the chart here. A big break to the upside here. You could see 15509 market broke to the upside, and it’s still kind of a messy chart here because look over on the 30. Look at how you have back-to-back congestion if you follow my cursor over here on the right. See my little white glove there? A lot of congestion up above, so for me, that’d talk me out of really being excited about doing anything on that particular trade, okay?

Let’s keep moving along. We’re going to move on into… Here we go. There we go. The light sweet crude. Let’s go look at that August contract. Symbol CLQ19. It’s a hot and humid one here today. I got a sweaty brow. That’s for sure. So, I did the natural thing, right? Some nice hot cup of coffee. It’s a wise move, Steve. This one might be our first trade of the day. I’m looking at this big breakdown below. 10-minute chart’s cleaner than the 30. You could see there’s still some congestion. You got this back-to-back master point of control right here. I wouldn’t mind waiting to see just a little while longer how this, if this thing can break down below that 59.73 mark. It’s about 10 cents lower from where we are right now, and if we get that 10 cent rank lower, look. We’re going to start to see this market move into this space down below. Over here, it’s 59. Let me get the exact one here. 59.77. Over here, well, 59.77. I guess it is spot on the same, so I like that when the market moves into that breakdown territory.

Now, in a perfect world, right? Perfect world, we’d like to see wide open space over on the 30. We’re not getting that because the 30-minute chart that has volume aggregation down below, okay? I do want to come back to this one, however, okay? So, put that on your short watch list, okay? So, we got short watch on E-mini S&P, short watch on crude oil.

Let’s move into some currency markets here today. Let’s go look at the Euro Currency, and then I want to take a pit stop at the Canadian. Remember, we’re going to be trading September contracts. Symbol U is the month code, so you’ll always see, see? It says 6E, that’s the Euro Currency, U19. Sometimes it’ll be just 6EU9 in the case of if you’re using like Tradovate or some other platforms. The syntax or kind of the symbology, as I like to call it, can be different from platform to platform. That’s what, of course, keeps brokers and trading support providers gainfully employed because if they made it too easy for you to figure this stuff out, then a lot of people would be out of work. So, there you go. You’re employing thousands and thousands of people that are here to help you, including me, navigate these complicated waters.

You could see real quick on this Euro Currency here that we’ve got a 10-minute chart and a 30, a little disconnect on this one. The 10-minute’s trying to break down below in that alligator’s mouth. Meanwhile, your 30 just recently put a stake in the bull camp, so we’re going to move over into that Canadian dollar here now.

How many of you live down here in beautiful, southern Florida? Anybody live down this way? Oh-we, man, I thought we had hot, humid weather just as we took off on the plane earlier on Friday morning. This trip is compliments of my one-day challenge that, by the skin of our teeth, we made it happen. Remember, Thursday, I said if I make $2,000 in the day that I would impromptu book this trip and send us down here to South Florida, something we’d been talking about in recent months.

Fell short of that by the end of day. In fact, by the end of the afternoon, I was down about $1,500, $1,555, but in the afternoon, I found a nice, short side opportunity in the crude, and we had to carry that into the evening. I talked about how it was going to be necessary to carry it into the evening because we ran out of time, but I still liked the trade. Now, it’s not that often that I take a day trade and I keep it into the evening, but when I do, there may be a very explicit reason why I do just that, and that was the case.

… in the background there. Remember South Florida, you’re just as likely to get run over by a golf cart as you are by any other vehicle, so I think on two occasions, I almost got my foot ran over by a rabid golf cart. Now, if that’s the biggest stress I have on the island, hey, that’s not so bad.

The follow-up to the story is if you were following me on Instagram, remember the challenge was to make $2,000 on Thursday to book this trip. Well, guess what? Just Universal Studios itself for two-day tickets for five is $1,700, so it doesn’t include the flight. It doesn’t include you eat anything. It doesn’t include your hotel. Doesn’t include nothing. That’s just walking yourself into the park, but boy, oh, boy, let me tell you what an experience. The folks over there, the animatronics in today’s rides are just unbelievable. Let me tell you. They really are. Just it’s no longer just a roller coaster. It’s like you get inside these movies. You feel like you are Harry Potter. You feel like you’re The Incredible Hulk, Superman, Batman, all these characters that you grew up with as a kid. I turn into a little eight-year-old boy just along side my own.

All right. So, back to these charts here. Canadian dollar. It’s got some pretty good support here on the upside here. The 10-minute’s hanging above the master point of control. You could see that here live, and we’ve got some room down below on the 30. So, that’s what scares me about this one, so let’s move over into the Australian dollar here today, okay?

I will be joining again here live at the island tomorrow, and we might head back on… I haven’t decided yet, but we may head back on the 3rd, before the 4th.

And the reason I don’t know is because I have not yet booked our return flight because I wanted to just kind of play it by ear, see how… when you travel with young kids sometimes you’re trying to see what their life expectancy is for kind of being out of their routine. Any of you that have kids know exactly what I’m talking about, right? There’s like a shelf life that you think you have with young children when you go out to dinner and you travel and stuff, and then sometimes it’s a lot shorter than what you think. But they’ve been really great. They’ve been having a lot of fun. Nine, six, and four. Nine, six, and four, so those are super fun ages, but they’re fairly high maintenance ages as well.

Nothing cooking here on the Australian dollar, again, too far along for me to get really too excited about doing anything on either the long or the short side here. Let me take a little swig of some good water here.

I’m going to check back in on the E-mini S&P here. Things can get cooking here in short order. Here we go. Market’s staying up above our congestion zone that we see over here. Still again, all this room to the downside is what is most attractive to me, so if this market continues to move laterally, even here, just kind of moving in this kind of rotational market over on the 30-minute chart, those boxes. If it stays between the red and the green, that’s going to really accentuate the trade that may very well emerge to the short side, but still nothing yet there. No reason to be jumping the gun on that one.

Let’s go take a peek at the gold here again, just kind of circling the wagon back on some of our most commonly traded markets. Here again, again here’s your gold. It’ll be interesting to see if it starts to navigate to the upside here. Could navigate up about $4 from here before it hits the supply area which comes in. It looks like 14.03 and a half by my count, and then it could, if it has enough momentum, if it breaks above that, you could get yourself… That would be a nice one, about another $7/$8 to the upside before you hit this congestion, so keep an eye on the gold here. Still no signal for me on this one just yet, okay? Hang tight.

Don’t drink and trade, folks. Save that for after you have worked your tail off. I’ve made that mistake before, not intentionally but, no, not like I accidentally drank and didn’t know I was drinking, then I was trading. Meaning earlier in my career trading, sitting by the beach with a laptop and so forth, but it does cloud your judgment. So, if you are, if you must, if you may, depending on what time it is, or if you’re on vacation, maybe before you get to a certain point.

For me, I like to focus, make my money, and then I enjoy my freedom, right? Enjoy the perks of your labor. Or, if you lose money, you might choose a different drink all and all, so it may dictate what type of drink you’re going to have anyway. Why in the world they’re selling hot tea here, I have no idea. It is so hot out here. This is fantastic coffee, let me tell you, but hot coffee and tea on a hot South Florida morning not my thing.

Hey, I’m keeping a close eye here on this S&P. We still could get the break in our time together this morning, and I’m just watching it carefully here. Key area where we’ll start to get pessimistic on this market is, for me, it’s going to start to kick in at least when the market starts coming down below 29.78. We’re not there yet. I mean, still ideally, 29.76 over here would be the area I’d like to see the market penetrate down below, then we will initiate that short. But again, we’re still not there yet.

Let’s go look at crude oil. Remember we’re in August contract there. Symbol month code Q. Yeah, no kidding A.J., yeah, I mean I’m talking about… I’d better not talk about alligator jaws here. I might actually get one if I’m not careful. This crude could go down in a breakdown mode, so I’m just again, I’m watching this one here. We’re starting to possibly penetrate down below that, and we did actually earlier in this bar when we were away on the chart here. 59.77, that could be our first short. This one is going to carry with it some about 40 cents lower actually. 59.35/36 is where we see. Look at those back-to-back master points of control. Remember, that’s those thin yellow lines you see on your market map. There it goes. It is starting to move on the short side there. I can see it. Do you guys see that? It’s starting to move on the short side right now on my screen.

So, I’m watching the crude. I’m looking at my other screen here right now, just taking in some other things, just doing some last-minute checks here. So remember, it’s going to be symbol CLQ9. Mark is at 59.69. The break is happening already. Here it goes. It’s starting to go to the downside. There it goes. CLQ9. I’m short 59.70. Not my favorite entry point into that one here. The thing in the last 10 seconds dropped about seven, eight cents, but I am short right now, 59.70, light sweet crude, August contracts, CLQ9, 59.70. The stop on this one, I’m going to give this one, because we’re short from 59.70, for me on this one, I’m going to work a little wider risk on this one just initially, and then I’m going to slide this thing down.

Let me talk to you about what my risk plan is on this one, and I’ll type it up for you, okay? I do want to put this, the risk, at 60.22. That’s going to be a 52-cent risk. Now, that is $510 per contract. Remember, you can trim it with a QM. This is a volatile time in the trade. It’s either going to make the break and follow through, or it might come back within that bar, okay? So, this bar high on the 30, I’ll tell you what it comes in. The high on this bar comes in at 59.97, so I mean, my mental state on this thing is this thing could come all the way up 25, 30 cents higher, okay? And where it’s going to be against me, the $300 a contract, I’m short six, by the way, and I want to have that little buffer.

Now, that’s where I’m going to put the stop down below, so if this market gives us the break, and it looks like it might, but it’s got to break down below this plywood support that we have on this box right here. If we can break through that, then we got a nice chance to see this market slide down. I’m looking for a slide. I want to maybe grab maybe about 30, 35 cents to the downside. That’d be a nice little trade for a short-term day trade on this one, so this is what I’m going to be watching here in the crude oil. We’ll see if we get there, okay?

So, 60.22 is your stop, but our intent is to trim basically 40% of the risk off the trade very quickly. If we get that break just a smidge lower, and I’m going to put the stop just back above that… It’s going to come in at 60.02, so we’re going to trim 20 cents out of the 52 cents. Remember, QM is an alternative symbol for the mini crude, which trims it at half the risk, so you’re looking at what? About $260 risk, right? $260 risk per contract if you do symbol QM.

And then, the other thing is, also, if you like the short side trade, but you want to trade the big one, but you don’t want to put the stop at 52 cents higher, remember, this is the most important thing and probably a common misconception. You could still pick the same entry point as me, trade the same contracts, but mitigate your risk by going to some of these other levels that I talk about. If you’re using your TAS Market Profile, you could see you have these alternate levels, supply area red line, POC blue color line, and the green line demand. You can navigate opposite of those lines as well. Again, my recommendation for you as an alternate stop would be 60.02, 60.02, and that would put you at $320 risk in the big crude contract, okay?

I do see that. Yes, I know. I’m focused right here on the crude but watch that ES2. I mean, maybe they could see the E-mini S&P here retreating off its high. Here’s your… This is the E-mini S&P quote you can see up here. Remember, this thing topped out here at 81 and 3/4, so we’re coming off that thing already. What’s that? Seven points? Right now so far so good on the crude there. There goes the crude. It’s going to the down side. Keep an eye on it. Here we go. Here we go. Keep an eye on your crude. Who is short on the crude with me here? I’m trading.

Down, down, down. There we go. Got $100 a contract. Got $100 a contract, so far so good. Pardon me, clearing my throat here today. Starting to get that break. Bottom of this bar comes in at, okay, 59.57. I’m sorry, yeah. 59.57 if I see it. Yeah, 59.57. Just bought five of my units back, just like that. Booked $500 just like that. $100 a contract, just got my runner in play. My stop is going down to 60.02. Okay, so we’d grab 10 cents on five of my six units. We just made $500 sitting here at the island, trading.

Pulling my stop down on the other one to 60.02, okay? Pulling that stop down to 60.02. So, we’re trimming it from 60.22, because you’re looking at the charts. That would have been way up here above that red line. Now, we’re putting it outside of these recent highs here. 60.02 on that. So, to give back on this one, on that final unit, would be $320. Remember, we just booked $500. So, it assures we’re going to be in the green here today if this ends up being our only trade. So, we’ll see.

Just watching, being patient. Remember, I’m going to go take a peek here at the S&P here as well. I know some of you are excited about what we see going on there as well. Make sure you adjust your stop losses. Anybody make some money on the crude with me here today? Please say yes. How much you guys make on crude? I closed out five of six units, 10 cents lower.

So, we sold 59.70. Covered five of six at 59.60 in just a few short minutes. We’re in the trade, looks like about four minutes. In this instance, from fill to fill. Four minutes and $500. Gah-lee, I hate my job, right? Worst job ever, this whole being a futurist trader, isn’t it? Pardon my sarcasm.

Time to pull stop down. We’re going 59.92, 59.92, bring the stop down, 59.92. We’re putting it… this is called putting the squeeze on the market, okay? So, now the biggest give back on this thing is what? 22 cents, okay? Remember, we made $500. Give back, worst case, $220. So, we’re still going to grab at least $280, worst case scenario. That’s the worst case. We still want to see this market retreat here. We want to just see it stay down below 59.77. Okay, market is coming back. We’re at 68. Here’s your quote in top left of the screen here of your crude. Here’s your S&P, hanging right around 29.75.

Adam made $220, Christopher made $600, Johnathan made $400, Joel made $200, $254 for Richard. $100 for Tim! Eric grabbed $50 on a mini. Good job. Hey Eric, good job of switching the contract to stay within your comfort. Kudos on that one. The goal, remember what I teach you here, this is not about mirror trading Trader Steve, right? If you want to mirror, mirror my discipline and my patience, but apply it to your comfort zone. If that’s mini contracts, if it’s different stop loss locations, if it’s smaller contract sizing. Please, please, please do that, okay?

We’re rocking and rolling. We’re making it green on the island today. So, what should I do today? The kids want to do a lot of different things, but there’s only so much time in the days. Okay, so should we get some jet skis? Should we do the dolphin tour? Should we do one of those parasailing things? Remember, these are things that will probably show up in my entertaining Instagram. If you’re not following me, my goodness, do yourself a favor and enjoy some good chuckles following along with what goes on behind the scenes in my family circus when I travel. My Instagram thing is Future’s Warriors. Future’s Warriors. It’s not just me, remember, it’s us. I’m just the wacky guy that gets to wear the ugly Hawaiian shirts.

Yeah, jet skis are pretty sweet. Okay, so how many of you have had this experience with jet skis? I’ve had this happen to me every time I’m like in Mexico, or typically out of the country and I’m doing the jet ski thing. Just really enjoying being out there, and zipping around. This happens almost every time, where like the big, military boats, I get too far away. They’re like, “Get that wacky guy in that ugly Hawaiian shirt off our water.” They kind of coral you in, and they kind of, with these huge, big, gray… those, I don’t know what type of boats they are, but they’re darn scary, you know? We must confiscate the Future’s Warriors. They’re polluting the public’s mind. They think they don’t have to go to work anymore and sit in these 9:00 to 5:00 jobs! Imagine what would happen if every one just worked one hour a day! Nobody would sit in offices anymore! What would happen? Oh my gosh!

You’d have happier employees, and oh my goodness, what would happen? People would be healthier, happier. They’d live longer. The whole system would go haywire! People can’t live longer! These people living so darn long and happy is already ruining our system. They’re all supposed to die at, what? 74.2, what’s the average thing? I know women are supposed to live longer than us men, right? Or did that switch recently? I don’t know.

I’m in Captiva Island. You know, outside Fort Meyers. So, you come through Santa Bell, and then, Captiva Island. I got a pretty little pink wristband for me here today.

I’m seeing the ES, let me bring up the chart on it here. The 76, this 76 half area, and here it is on the 30. It’s breaking on the 30, you are exactly right. This is that spot that we want to watch. 76, we’re a little, we’re a smidge further below than I like to be in this one. Not sure if we want to put the stop way up above that 29.80 but we certainly can try. This is the double breakdown across the 10 and the 30. I do like it. This is a good spot. Point of contact right now is not a bad place to be hitting the cell button. Now, remember, we’ve already basically locked in a green trade in the crude, and the reason why I’d be okay with the short side in the E-mini S&P is because of that. So, even if we get stopped out on our remaining six, unit number six out of the five, we’re still going to be in the money. So, that’s quite all right.

So, let’s go on over to the E-mini S&P. I like the looks of it. ESU9, ESU9 we’re at 29.74 on this one. ESU9. Little slower on my screens here today because I’m on, as you can appreciate, I’m on a smaller screen setup and fewer screens. It’s kind of like the double whammy. Okay, 74.25 getting ready for point of contact and boom, there we go. 74 even if where I took the short rate there on six units. 29.74, 29.74, worst case stop on this one, if you’re looking to put it at the worst, the highest place you need to do it would be 82 and a quarter. So, from 74 on the short side, 82 and a quarter would be eight and a quarter. That’d be $412, worst case risk on that one. If you want to come into a place and not… if we just want to put a risk above that 80, I’m sorry 80 even, it’d be 80 and a quarter. You’d knock $100 off that risk. That’s where I’m going to start mine at 80 and a quarter. That’s where I’m going to start mine.

So, six and a quarter on the risk on that one. Stop is going to be at 80 and a quarter, 29.80 and a quarter on this one. Market needs to stay down below that 77 zone. That’s the key area we want to watch on this one. Okay? Watch this key zone over here, 29.76 and what is that? About three quarters. This is all normal stuff. We don’t freak out right here just because the market is coming off. We’re down a point and a quarter right now. So, down $62 a contract.

Six and a quarter point risk on this is going to be a $312 risk per contract. Remember, you’ve got your micro E-mini S&P’s too. So, remember symbol MES. Yep, MES-U9 would be the symbol actually. Drop the one. So, if you’re doing micro… let me type it in here. All right, that’s the big one. Then, here is the micro. I’ll just type this one up for you if you’re using like Tradovate. You guys liking trading with me here?

Your answer should be, “Give me just a moment Steve. Let’s see how all these trades shake out.” Okay, we need a key resistance zone on this one coming at 29.78 right here. That’s going to be a key area for us. Well, I see this market stayed down below 29.78, and the reason is we’ve got that master point of control. This market may retreat, may retreat quite aggressively here. Look at, I do see that. I see the crude’s breaking this for us as well.

Let’s go back, take a look at our crude. Transitions on my charts just a little slower, again because I’m working on fewer screens. Boom, breaking down belower… breaking down belower, that sounds like a new word. I promise you I have not started having mimosas yet. We’re down a dime still. This thing did get down as low as 45, okay? So, that was from 70 at that point. We had about 25 cents, $250 on this one.

Watching, waiting. Crude oil is establishing that path lower. You can see it’s in play right here. Market just needs to come down just a smidge lower. S&P, I’m not liking what I’m seeing out of this back here. 29.76. Two and a half points against us here now on that one as well.

This bar bottomed out down here at 45 I said.

Focusing on the crude here. Coming right back to our near break even. High on the current bar, comes at 59.69. We’re right back to where we started on this one, on the remaining unit. Remember, we grabbed 10 cents on five units already.

Really going to tighten this thing up here now. Going to put this just outside the high of the current bar. So, stops at 59.72. Got $20 risk. This thing is awfully close, but it still gives us a chance to stay inside the trade. High of this bar, 59.71. Move your stop down to 72. So, one of two things is going to happen. This market is going to slide back down through this bar, okay? To the downside. Remember, it’s already… remember, what I said about this. When the market has already paved its path lower, it’s easy for the market, look at it selling off right now, to go where the path has been recently paved, versus establish a new zone. So, stop now is at 59.72. So, we’ve only got a $20 risk now from our entry point on this crude oil.

Let’s go take a look at the E-mini S&P back inside. We’re short 29.74. Market bounced just after it engaged me. Let’s take a look at the E-mini S&P. Moving my stop down on the E-mini S&P. Moving that down to 50, sorry, 79 and a quarter just above that master point of control right here. We’re going into kind of risk mitigation mode on both the crude oil, as well as the S&P. So, move your stop down lower on the S&P to 79 and a quarter. That’s going to be just above, you see that POC on the 10-minute chart at 78 and some change. Market is at 76 and a half. Remember, we’re short from 74. So, we’re down just a smidge on this one. 79 and a quarter is your new stop.

Indeed symbology, remember, is going to be different depending on what platform you’re using. Most of the platforms are going to have a reference sheet for you. So, if you’re on this platform, it’s usually on their website, the brokerage firm website, or the platform website, or E-Signal, or whatever it is that you’re using. So, you can look those up. I always have that printed out because even, you know after a while you trade a lot of the same products, you won’t have this problem. It’ll be second nature to you. But, I always like to keep one handy because you don’t want to be having to go to a website or whatever in the middle of trading. So, print that out. Pin it up on your board or whatever, or you can also create maybe like your top 10 traded markets, or what have you, and kind of have those symbols big and easy to look at. Remember, you don’t want to be wasting time fumbling through symbology when you’re trading, right?

A re-break on this E-mini S&P guys, and I think we’ll be feeling pretty good about this thing, okay? Just kind of stay down below there. It went up. You see how it tested that POC? That’s something we expect all the time, right? It’s natural and normal for these markets to break, test the waters, in this case in the bear camp, comes back in the value area. Then, possible re-break lower. We’re going to see.

Got a big ole alligator jaws for me here on that 30-minute E-mini S&P. You see? So, all this time that we keep going sideways, that actually is growing that top jaw line up there, okay? You’re growing that top jaw line up there. I know. Yeah. I’m with you Eric. See if we can get a negative Trump tweet right now, that’d be great. Good luck though. Remember, most his tweets are typically designed to give the market a boost, not to have negative connotations.

So, we’re within about two points here on this E-mini S&P. That’s where we’ll call it quits, when we start to migrate our way through the other side there. We’ll see.

Crude oil breaking in our favor. Let’s go back to crude. Crude-tastic. It keeps breaking like that. Here we go. There’s that crude break. Look at it. Pushing on the low for the morning here. There it goes. Down, down, down. We’re getting to that part here where I told you, that 59.35, we got right to that zone, 59.35 was that zone we were talking about. That’s a beautiful thing. Look it, we’ve got… see, we’re pressed right on that master point of control. Right here is where I’m going to cover my final unit on the crude oil. Let me get up my thing. I’m covering my SLU, my final unit, right here. It’s a beautiful thing. Market’s kind of come to life, and see how we came right down to that master point of control. You can see it right over here on the 30-minute. 59.35, if you want to hang in there you can. You can really trail your stop down below. Put it at 42. If you want to hang in there, I’m getting out. Just moments ago, closed it out. I’ll tell you price in just a moment here.

Ended up grabbing $840, all told. That very last one I got at 59.36, okay? That crude oil came to life just beautifully. But this is the area I was talking about. Remember, I was saying you’ve got the master point of control sitting down here. I talked about 59.35/36. Well, we got there. That was my exit point at 36. So, all told on the crude oil, $840 profit. I’m flat. No more risk on that.

We’ve still got to work now on our E-mini S&P now. Okay? So, let’s take our attention now to the E-mini S&P, okay? Always feels good when you kind of close out a trade, right? Risk is gone, green is in the account. Market can’t take it away. Now, let’s watch this E-mini S&P here now.

Okay, risk mitigation mode here on the E-mini S&P. So, as we look at the E-mini S&P, remember, we’re all about managing risk right now. Okay? That was nice that the market just closed down below that 76 zone at demand zone. Watch this thing. We still could get the drop we’re looking for. Don’t you dare leave your screens, Future’s Traders, because this thing could break. It could break in moments notice, and this thing could go from a situation where we weathered a draw down initially, to breaking back in our favor. We’re almost there.

We’re a point back. We’re about $50 down on the trade per unit. I’m six units short. Here we go! Follow the yellow brick road. I don’t have my drawing tool, so I can’t even draw the yellow arrow. So, come on. Visualize, visualize, see the arrow, be the arrow. Make sure it’s yellow. That needs to be a T-shirt, right? Warrior Trading, follow the yellow arrow.

Move the stop down to 77 and a quarter. Stop should be moved down to 77 and a quarter. That’s going to be back inside the demand zone right there. If the market moves back above 77 and a quarter we’re going to get out.

Okay, ready? There it goes! Hey, we’re back in the green. Look at the green, or I’m sorry, the red over here as this thing flickers down below that demand zone, which comes in right at that 29.74. This thing could break. Down be aware, down at 71 and a half over here, if you watch your point of control. I’m sorry, your middle zone POCs over here on the left, far left chart. That comes in at 71 and a half. That’s an area where we might look to get some more support, okay?

So, again, back to break even on this one. Let’s see where it goes from here. Stop’s at 77 and a quarter on this. High at the current bar, 75 and a half. I’m going to take just a quick little peek at the three minute chart here for you. Here it comes. Well, look at the three. This, [inaudible 00:40:00] this bar right here comes in 72 and 3/4.

I’m just watching, waiting. Being patient here.

This thing could break, and it could break in a big way.

73 and a half, 73 and a half, a lot of room down below here. Good congestion up above. That’ll be good resistance for the trade.

Hanging right at this 29.74, the entry point on the trade. Thing could break at any moment.

See, we’re top heavy on the navigator over there on the right. Way up there on your plus 40, that’s a scale right over here, navigator scale, bottom right.

Be patient, be patient.

Get ready! Here we go! Then, you’ve got to put on your best munchkin voice (singing).

A push through this low down here, which again, remember comes in 72 and 3/4. We’re just a point off that pace right now. That would unlock a nice little break here, because it’s the same as this low right here. This low comes at 72 and 3/4 right here. See that back on the 30-minute chart? If we push through that and it’s getting ready to go right now. Get ready. Maybe a run towards 71 and a half, remember, could happen at any moment as well. Here it goes! There it goes! Get ready! Here it comes! Follow the yellow brick road. Helicopter is going over.

I don’t know what that means, but it happened perfectly timed when we got the break we were looking for on this one. Market down is 73 even. Here we go, we’re pushing through that one. Just moments ago I’m looking to… oh no, not yet. I didn’t push the button. Here we go. Gotta push the button. I thought I pushed it. Gah-lee, I thought I pushed the button and I didn’t. Got distracted there looking at the helicopter going by. One of the many challenges when you’re… the noises and distractions.

Went and tested perfectly on that 72 and 3/4 low. Then, the helicopter went over and distracted me. I thought I pushed the exit button. I was going to grab some at 73. I didn’t, so now the market is back up. We’re at 74. We’ll get another retest here down below. We’re just going to be patient here, just a smidge longer. Here we go, 73 and 3/4. You see the real time quote up at the top? 73 and a half down below here. This low held twice.

Remember, stop on this thing is at 77 and a quarter. High the current bar is 75 and a half. Going into risk mitigation. Move it down to 76 and a quarter. 76 and a quarter is your new stop. We’re putting a squeeze on the risk side of the market here. It’s either going to break here, we’re going to get the break we’re looking for. If we start pushing through the high up here we’re going to be out of the trade.

I’m just covering it scratch here because of one reason, and one reason only. The bad news for me… well, the good news for me. So, I’m scratched just moments ago. I covered all six units at same price for me. If you hang in there on this trade, you’re likely to see this market give you the break you’re looking for. For me, however, I’m sitting here at the island. The goal is not to sit in front of your computer the entire day, remember. The goal is to go and enjoy yourself.

So, $840 is… let me just double check. Yep, $840. No orders open, no more risk in play. I’m just going through my final checks. We made $840, in what? About an hour’s worth of work today, sitting here on the island. The rest of the day is mine. I had to scratch this E-mini S&P trade at 29.74, same point we put it on because my life stopped kicked on. Remember what that means? My life stop is when life calls you away because you’ve got more important things to do called, I don’t know, hanging out with your family at the island, you’ve got to do it. That’s all there is to it. So, I’m scratch on the E-mini S&P. And the crude oil, we got $840. Congratulations for those, you made a little money on the crude with me here today. And good luck with the rest of the trading today.

The room will be open for chat the whole rest of the day while I’m going to go enjoy some South Florida sun. So long everybody! Trade well and be well! And until next time, bye, bye.

Well, as you can see, there’s valuable lessons inside these videos and that’s why now is the time to subscribe, like and share this video so you can keep getting alerts every time I post a new video, as well as the other Warrior Trading mentors. Until the next video, happy learning!