{"id":46982,"date":"2018-05-17T17:42:55","date_gmt":"2018-05-17T21:42:55","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=46982"},"modified":"2023-04-12T16:09:06","modified_gmt":"2023-04-12T20:09:06","slug":"smb-futures-totd-5-17-18","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-17-18","title":{"rendered":"SMB Futures TOTD \u2013 5\/17\/18"},"content":{"rendered":"<p>It&#8217;s time for the Futures Desk Trade of The Day! Here&#8217;s a<a href=\"http:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-16-18\" target=\"_blank\" rel=\"noopener\"> link to yesterday&#8217;s trade<\/a> as well.<\/p>\n<p>This trade combines a classic &#8220;spring&#8221; pattern, with the use of vwap, and time of day factors.<\/p>\n<p>Key variables:<\/p>\n<ul>\n<li>ES in an uptrend defined by method<\/li>\n<li>Pullbacks mid-day during slow trade can be more complex (multiple legs)<\/li>\n<li>Watch for pull back into vwap, and if buyers respond there<\/li>\n<li>Spring pattern (very short term support level drops, but is quickly rebid)<\/li>\n<li>Simple exit on waning momentum, nothing fancy<\/li>\n<\/ul>\n<p>Nice little 3:1 R\/R by combining a few simple chart features and overall understanding.<\/p>\n<p>Here&#8217;s the trade below.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-17-18.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-46983\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-17-18-1024x494.png\" alt=\"\" width=\"700\" height=\"494\" \/><\/a><\/p>\n<p>ES Futures. 2min chart.<\/p>\n<p>&nbsp;<\/p>\n<p>The spring pattern is such a thing of beauty. It embodies several concepts I love as an intraday trader:<\/p>\n<ol>\n<li>It traps shorts who are taking the &#8220;breakdown&#8221; short (they provide <strong>future bullish orderflow<\/strong> when they stop out)<\/li>\n<li>It runs the stops of traders who are already long (they provide <strong>more bullish orderflow<\/strong> when they get back in)<\/li>\n<\/ol>\n<p>A spring pattern is simply a place on the chart where there is short term support, that level breaks down, but then there is no energy behind the move and it fails quickly and re-mounts the support level. They are easy to identify in real time.<\/p>\n<p>Understanding the nature of price movement as it relates to time of day is a big deal for intraday trading. Study your market(s) of choice to gain an intimate understanding of it&#8217;s typical behaviors across various time slices.<\/p>\n<p>VWAP is a great intraday trading reference, but it&#8217;s not something to be looked at in pure isolation. Adding patterns (like the spring), other contextual features, as well as orderflow&#8230; all of it takes VWAP trading to a whole new level.<\/p>\n<p>We use VWAP, patterns, and orderflow every single day in our live trading webcast in our Futures Slack Room.<\/p>\n<p>Trade well,<\/p>\n<p>Merritt<\/p>\n<p>*No Relevant Positions<\/p>\n<p><a href=\"https:\/\/www.smbtraining.com\/blog\/smb-disclosures\" target=\"_blank\" rel=\"noopener\">Risk Disclosure<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time for the Futures Desk Trade of The Day! Here&#8217;s a link to yesterday&#8217;s trade as well. This trade combines a classic &#8220;spring&#8221; pattern, with the use of vwap, and time of day factors. Key variables: ES in an uptrend defined by method Pullbacks mid-day during slow trade can be more complex (multiple legs) Watch for pull back into &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-17-18\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2144,"featured_media":46983,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5010,7,3],"tags":[],"class_list":["post-46982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-futures","category-reading_the_tape","category-technical_plays"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SMB Futures TOTD \u2013 5\/17\/18 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-17-18\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMB Futures TOTD \u2013 5\/17\/18 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It&#8217;s time for the Futures Desk Trade of The Day! Here&#8217;s a link to yesterday&#8217;s trade as well. This trade combines a classic &#8220;spring&#8221; pattern, with the use of vwap, and time of day factors. Key variables: ES in an uptrend defined by method Pullbacks mid-day during slow trade can be more complex (multiple legs) Watch for pull back into ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-17-18\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-17T21:42:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-12T20:09:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-17-18.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1047\" \/>\n\t<meta property=\"og:image:height\" content=\"505\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Merritt Black\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta 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