Live Trading Room Insights and Key Zones for ES & MES Futures: Tuesday Sep 16

Opening Remarks

Micros Trader opens the AM Briefing with a clear, disciplined mindset, stressing the importance of trading without ego and avoiding impulsive market predictions.

Avoid “Calling Tops” and “Bottoms”

Micros Trader warns against the temptation to call market tops or bottoms, describing it as an ego-driven behavior that doesn’t serve serious traders. He references a “Shadow Trader” who admitted to trying and failing to call a market top, reinforcing the principle: “Trade what’s in front of you.”

Bulls in Control

The current market trend is firmly bullish. Micros Trader reiterates multiple times that “bulls control, there’s no question about it,” citing higher highs, higher lows, and resilient price action that keeps pushing higher despite any temporary dips. He cautions against shorting the market without a clear setup, noting that consistently fading this strength can lead to painful losses.

Patience and Waiting for Clear Setups

After missing a potential early short setup, Micros Trader emphasizes the importance of not chasing trades. He states, “If I miss it, I’ll just let ES vomit and wait for deeper longs.” He’s willing to sit back and wait for the market to come to him rather than rushing in.

Trade Duration: Shorts vs. Longs

Micros Trader categorizes short setups as “microwave trades” that require quick exits, typically after a few ladder moves. In contrast, he sees longs as having more staying power, stating that “it can keep lading long,” suggesting longer hold potential on the long side.

Market Drivers and Economic Events

Contract Rollover: Rollover activity accelerates today (Tuesday), likely shifting liquidity and volume as traders begin moving to the next futures contract.

Retail Sales Report: Scheduled for 8:30 AM ET, the retail sales numbers were stronger than expected. However, the market barely moved, disappointing Micros Trader who hoped for increased volatility.

FOMC on Wednesday: Micros Trader notes that “all eyes are now on FOMC tomorrow.” He plans to be live in the afternoon to discuss it and prepare for any post-announcement reaction.

Options Expiration: Another layer of complexity this week comes from options expiration, further contributing to anticipated market choppiness.

Trade Ideas from the Battle Plan

Short Setup: High-Risk, High-Reward: The primary trade Micros Trader hoped for was a short setup if the market grabbed the all-time high and then reversed sharply back into the range. He called it a “monster trade” opportunity with a high chance of a liquidation break, saying, “You don’t need large size to make this pay.” He set an order at 93 but ultimately pulled it, opting to wait.

Long Setup: Secondary Interest: Although bulls control the market, he’s cautious about chasing longs, saying, “Longs are making me nervous now.” He did consider a small long entry targeting 6700.

6,700 as a Key Psychological Level: Micros Trader repeatedly emphasizes 6,700 as a significant level. He woke early to monitor price action near that point and expressed some regret that it didn’t hit, saying he “might have been more aggressive” had it tagged that number.

All-Time Highs and Lack of Consensus: The market made a new all-time high overnight. Interestingly, Micros Trader observes that “not everybody else is on board this monster train to the north,” suggesting a divergence in sentiment among traders—something that shaped his interest in a potential fade.

Trading Tools and Best Practices

Use of Object Tree: Micros Trader stresses the importance of organization on the chart. He advises traders to use the “object tree” to manage levels and drawings, likening it to keeping a neat and well-labeled lab notebook in high school chemistry.

Microstrader.com Resources: He encourages viewers to check out daily content at microstrader.com, including the battle plan (free today) and daily devotionals.

Essay Format Questions

1. What emotion is driving your trading today — pride or fear?
2. How can you pause in moments of uncertainty and ask for wisdom instead of reacting?

Devotional Segment: Asking for Wisdom

Avoiding Emotional Traps: Pride and Fear

Two trading enemies are highlighted:

• Pride, which whispers: “Enter now, let’s just see what happens.”
• Fear, which screams: “Just do something.”

Both lead to impulsive decisions. Micros Trader shares an anecdote of a live streamer who alternated between full loss and full gain on pure emotion, cautioning: “No, you don’t [trust your gut in those moments].”

The Power of the Pause: Micros Trader emphasizes the importance of stepping back and pausing when clarity is missing. He explains that waiting for divine wisdom is more powerful than reacting to emotional impulses.

Prayer for Traders: He prays for humility to admit when we lack wisdom and the faith to believe that divine guidance will come. The goal is to discern between emotion and true wisdom in moments of indecision.

Retail Sales Reaction & Closing Thoughts

Despite the strong retail sales data, the market showed little response, leading Micros Trader to call the event “an utter waste of our time.” He won’t open his DOM until a significant pullback or “vomit” occurs, which could offer a clean setup. Focus now shifts to the FOMC announcement the following day.

What is Microtrader.com and what services does it offer?
Microtrader.com is an ESMES futures trading room that provides a daily “battle plan” outlining high-probability trade opportunities. They also offer live trading sessions, daily devotionals, and educational content on their YouTube channel and through their “Core Strategy Academy,” which emphasizes tools like the object tree for market analysis.

What is the “battle plan” and how can traders access it?
The “battle plan” is a daily document from Microtrader.com that details specific trade ideas and strategies, including potential entry and exit points. It is available at microtrader.com and is typically unlocked every Monday, though it was offered as a free resource on the day of this briefing.

What key trading principles or advice are emphasised in the briefing?
The briefing stresses several important trading principles:
– Avoid calling tops and bottoms, as it’s seen as an ego-driven and ineffective strategy.
– Trade what is in front of you, focusing on real-time market conditions.
– Manage risk aggressively during volatile news-driven weeks with a “trade small, one loss and done” mentality.
– Practice patience and discipline by waiting for high-quality setups.
– Understand that shorts are “microwave trades” and longs can be laddered across many levels.

What specific market events and potential trades were discussed for the day of the briefing?
The main focus was on the retail sales number release and the anticipation of Wednesday’s FOMC meeting. Trade ideas included:
– A short near the all-time high if the price pulled back into a specified range.
– A long setup targeting 6700, assuming bullish control continued.
– An early-morning short consideration near 6700 was ultimately skipped in favor of waiting for clearer conditions.

What is the current market sentiment according to Micros Trader, particularly regarding “bulls” and “shorts”?
Micros Trader firmly states that “bulls control” the market, evidenced by a sustained uptrend with higher highs and lows. While not everyone is participating in the rally, Micros Trader emphasizes that current action is not bearish if the price remains within the previous day’s range and continues to ladder higher.

How does Micros Trader use analogies to explain trading concepts?
Several analogies are used:
– High school chemistry lab book: Emphasizes the need for meticulous chart organization.
– “Monster train to the north”: Illustrates the market’s powerful bullish momentum.
– “Vomit”: Refers to sharp pullbacks, seen as opportunities for new long entries.

What role does faith and personal reflection play in Micros Trader’s approach?
The briefing ends with a devotional urging traders to seek divine wisdom in uncertain moments. Referencing James 1:5, Micros Trader encourages asking God for clarity, stepping back when necessary, and acknowledging human limitations rather than relying on impulse or pride-driven decision-making.

What is the “object tree” and why is it considered important?
The object tree is a software tool used to organize levels, drawings, and annotations on a trading chart. Micros Trader considers it a fundamental part of clean technical analysis and states it’s heavily emphasized in their Core Strategy Academy.

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