Warrior Trading Blog

Perfectly Green Week +$300 | Steve’s Futures Pulse 205

Steve_8.30

We did it traders. Five trading days this week and five green days. That put us over $nine thousand eight hundred a week and over $thirteen thousand on this eight consecutive green day win streak. Now today’s training session, we grab just $300 on the Enbiyesta Peytha break mode trade, but I was really proud of members in the futures’ training chatroom, because we left our runner in play, so we had a chance to make more but market volatility stopped us out and put us on the sideline.

Hey we can’t complain $300 for a few minutes worth of work and a perfect green week. Ahead of the holiday weekend, I’m looking to pack it in, rest up, spend a little time with the family and come back next week and do it all over again. Now I can’t guarantee we are always going to have an all green week. That would be unrealistic, but I’m certainly going to try. Be safe in your travels and to all our friends down in Florida, please be safe as Hurricane Dorian is coming your way.

We will be thinking of you, watching and in our prays. Enjoy today’s Futures Paul’s recap, where I capture all the action, and you can see today’s trade, come to life. Trade well everyone, and I’ll meet you at the market soon, come on.

Good morning Futures warriors. TGIF, thank goodness its Futures big break down of Enbiyesta P underway on both 10/30/60. Down below that 38 and a quarter zone, that’s where we are right now. 38 and a quarter hovering just above that 34 and a half zone right here, nice little green color marker. I’ll change that in just a moment, no time to waste.

Various directional bias, let me show you again 10/30, look how we are down below on both. Our congested master point in control on the ten minute chart. On this one we are going to break down on the boxes here, we are just below that 30 – 38 and a quarter zone right here, also I want to show you all the 60, which love. That’s swing time frame horizon right there, that’s always a good thing when you got that working in our favor.

Looking to see if we can finish and add just a little bit to the green. We got good day almost not a good day, good weeks going here, just short of 10 grand actually for the week if you have been following along with us here today. This week and today, we just got started today. Can we trade low-risk here today? [inaudible 00:02:23] holiday weekend.

Auction at 34 and a half zone right here. Nice little entry point, a little bit earlier in the session here as we broke down below you can see 40 and three quarters. Let me change the color on my drawing tool here, there we go back to yellow. Anybody have exciting plans for the holiday? Come on. Let me zoom in here on that 60 minute time horizon, 41 and three quarters is the year I’d like to be above there. That’d be 42 and a quarter on this one. 42 and a quarter, that’s at POC, that’s the aqua colored line that you see right here.

We are going to see if we can get that break below 34 and a half, watching this zone right here. Its coming, watch it bounce, bounce, bounce. You have one, two, three technical lows right there. Got a big buffer of green this week, almost 10 grand, this week. Heading into today’s session, I’m still [inaudible 00:03:39] the market here.

Watching to see if this – POC and make a move down below that 34 and a half somewhere, down below on the 60 minute time frame, which is great that’s a swing timeframe and also down below you can see here on the 30, right here. Hovering right below that 38 and a quarter zone, just entered short moments ago 36 and three quarters. 36 and three quarters I’m short 29, 36 and three quarters that is right here, right where the market is.

Here we go, I’m sure. Might stop him, not risking a whole heck of a lot of this one 42 and a quarter to start, okay? 42 and a quarter is the stop on this one. For me just three itty bitty units, so we’re going to risk averse here today. See if we can find an opportunity, but if not we’ll go about our days, start enjoying of holiday weekend. 42 and a quarter is the stop.

We’ll see what we can get out of this market, I’m short just three units here – here we go 35 and a half. There’s the break wanna watch this 34 and a half of – get that 34 and a half, we’re going to get that move we’re looking for here we go. Get ready. Ladies and gentlemen start your engines, here comes that break, 34 and a half underway. Coming, coming, coming.

34 and a half. Bouncing off that area for the fourth time, you see that’s staying in the thick of it here, remember our value area is denoted by our Tas Market Map Indicator in the background there – that red color zone is approximately 70 percent of the activity and volume has occurred – like that overextension to the upside. You can see those – yeah early bird’s this morning had a nice break out to the upside, I was fast asleep, getting my beauty rest and as you can tell. If you look at me here on the webcam, I can use every bit of beauty rest that – my bed will give me.

29, 30 and three quarters, that was a nice little upside move, see that – upward – point directory on the navigator, but then it gets exhausted right here as we kind of top out, now the market is broke – breaking down here. Downward pointing trajectory on this ten minute time horizon right here, that’s [inaudible 00:05:44] member, so exhaustion warning on the prior upside move – that was a nice little move in itself, but good for about ten points.

Maybe I’ll start being an insomniac, if there’s a ten point, $500 contract move maybe I will start getting up and watching really bad late night TV. There’s no such thing as really bad late night TV anymore remember? You can watch everything on demand. Netflix, you have Prime, you have all these different ways you can watch TV, so there’s no reason to really complain about bad late night TV.

That’s not going to stop me of course. You see that big breaker here on Crude Oil here, this is the ten minute time res., look at that long range bar, just like that. This is where anybody on the long sight here of Crude prior is a lifesaver. Putting that stop behind those demand levels here, so you – as that market broke here if anyone was on the long sight, you’d be out of that way up here – save yourself a pretty penny on that one – on that break to the downside, that’s – save yourself one thousand dollars by using Tas Boxes Indicator. Putting you stops outside those levels – markets giving a break here – here we go.

We are down below 34 and a half, off to the races we go, we’re making a little bit here. Here we go, here we go, here we go, we are just down below – we’re referencing that technical low right here. Just covered two, moments ago, closed out 225 on the trade. Still got one running on this one, adjust your stop on the 42 and a quarter, we’re going to trail that stop down. New stops going to be 38 and a quarter, 38 and a quarter on the single unit. I took 225 out of the market just like that and I have 187 left for that final unit.

Again just a three contract, low risk entry into the trade. Trailing is down , we got the break we are looking for, again we are short from 36 and three quarters not that long ago here. On three units for me so – here we go 32 and a quarter, still got one in play, this is what it looks like here if you’re wondering this what it looks like. There you go you can see, 225 closed out in the ES, got 212 in running here on that final unit just short one.

You see where it says minus one net position that’s the reality, there’s my price 36 and three quarters. We’ll see how she shacks out here okay? There we go, feeling heavy, see that Crude and S&P often times are going to parallel track themselves – remember my – your new stop on this one is going to be 38 and a quarter. Don’t forget to adjust the lot size, if you took a multiunit entry on the short side there don’t forget to adjust the lot size on your stop.

Common mistake is that you leave that hanging out there at the original stop [inaudible 00:08:25] quantity and of course the market comes back up there, its going to put you the other way. Stop you out of your position, but then – take – send you back the other way, we don’t wanna do that. I’m going to take a quick peek here at the three minute chart. There you go, the markets getting a nice little move here on this one.

New stop on this one, we are going to lock in 35 – so its 35 and a quarter right here is going to be our stop. So we are going to lock in worst case scenario profit, also on that final unit, 35 and a quarter – just like that market is still working in our favor, so our stop is here now. Getting started up here 42 and a quarter we came down to 38 and a quarter right here, now our stop is here. You see how we’ve basically pulled the risk out of the equation.

How are you guys doing on the Enbiyesta P with me here today? Wayne made 250, Dante made 100, Joe grabbed 350 on two or three units your right – doing three units just like me. Nice job Robert two thousand on the day, call you the big winner. Friday night steak’s on you. You call it. What’s your favorite restaurant? I’ll meet you. I may have to ask for permission though Robert, I have to tell you.

Honey, I know we have stuff to do with he kids, it’s Labor Day Weekend and we typically go away. But today I’m going for steaks with Robert, in a little known place, in an unknown city – not an unknown city, because of of course you would tell me. Mitchell’s that’s it okay? You want to give a plug to Mitchell? Mitchell’s in what city Robert?

You might regret this, you going to have thousands of – your going to have thousands of people that are going to go to Mitchell’s in your hometown, if you’re not careful.

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