In today's video, we are going to take a quick look at bull and bear traps in the markets. These traps can be detrimental to your trading if you don’t know how to utilize your trading or work around them. As the market fails to push past our supply zone, we wait to get confirmation of the bull trap pullback.

In today's pre-market prep video, we will take a look at the ES and NQ markets. In the Nasdaq market, we saw a major pullback as the market took out short coverings on its way back into its value area for the month of May. Do not be surprised to see this market continue rallying back up toward the point of control for the month.

The Trader Kingdom Market Data Journal Sheets provided by PivotFarm combine major market metrics into a concise snapshot for nine markets including the S&P 500, Russell 2000, Crude Oil and Gold.

Veteran trader and world-class futures trading coach, Jeff Quinto tells fellow traders that "Learn to Love to Take Losses" in this 301st episode of The Electronic Trader with Jeff Quinto.

Today's US Equity Market Commentary reviews the upcoming week commencing May 21, 2012. Nick McDonald gives a quick overview of last week's action in the major indexes for the US equity markets and gives a technical outlook for the coming week, with a focus on the mini Russell futures contract.

Run time: 8:21 minutes

We are back with our weekly recap of the Forex markets heading into the weekend. A quick look at the USD/JPY showed consolidation for the majority of this week. This market looks like it may be forming a bottom after a very healthy retracement. We also are seeing the emergence of a downward wedge which could cause the yen to move very dramatically once it breaks out.