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Transcript

Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

Helping Futures Traders Via Our Core Strategy Academy Training Program and Futures Trading Group – The Best Emini Group IMHO.

“Welcome to the AM briefing video, presented by MicrosTrader.com, where together we trade better. Alright, happy Friday, April the 12th! So, it is Friday. What does that mean? Friday rules are in full effect. What are the rules? Number one: Do not give your week back on Friday. It is not worth it. Trade with a smaller daily stop limit or trade a percentage of your weekly profits, but go into the weekend a winner.

Okay, so let’s hop on the chart. So, Friday rules we just covered, and I’ve had this on the daily briefing since CPI. The days after CPI are just as dangerous. Here was the day after CPI—it could be just as dangerous. It was very easy to read, but it can be just as dangerous, especially if you tend to be a counter-trader instead of staying out of the way. Never counter a parabolic move.

So, you do have a new set of single prints at 5220.5. You can see a complete set of those at MicrosTrader.com and click on Price Map. So, where are we? Well, it’s real interesting. If you take, let’s say, this price and say, ‘Okay, it touches this day, it touches this day, it touches this day, it touches this day,’ and then I got to expand here for it to touch this day, that touches this day. We are just in this big, honestly, balance area. We have really gone nowhere. We are slightly trending down, as we’ve discussed. It kind of goes down, comes back, went parabolic, came back, went parabolic, came back. So will that continue? I don’t know, but it looks like it.

So, what is the game plan today? Well, today is about trend and trade location. So as we zoom into here, we’re watching this and going, ‘Okay, looks like relative equal highs up here. What a big target here, this overnight high is going to be.’ I know we were dancing here on one of the strong levels, and now we’ve gone back into the range. So if I had to draw a trend line in the overnight session, here it is. That’s where I would start if I was trading, cognizant of where the single prints are. Uh, 5220, actually it’s right here, this exact level is the single prints. Um, have that on my chart.

A lot of people will treat the single prints as if it divides the RTH session into different days. So they would treat this top part as one day and this bottom part as a different day, uh, as they’re making decisions. I just denote that the single prints are here. I want to know where they’re at; it’s a place that price can tag up. It’s just a big fair value gap with a special set of circumstances, and it could come back up. So this would probably be my line in the sand, is this single prints.

I’ll tell you what I would do also is I would take this daily high to the single prints, and if you wanted to make that a zone, I would make that a zone as the line in the sand zone. If I was going to make some new strong levels, that might actually be a zone I would draw out.

It’s interesting to still see us dance here at this level. We just basically came back to this one and bounced. What are we going to do, this strong range here? Can you look at how nicely it’s played here, then finally it busted out, rejected, rejected, rejected, rejected, tried, rejected, hung out, hung out, hung out, took a news catalyst, and it busted out.

So we’re really good at drawing these levels like this. We’re really good at knowing where price will bounce. Um, if you’d have been on Zoom, it’s so easy to say this the next day, but when we took this short here, and I said this is where it’s going to bounce, it was within two ticks of where I said it was going to bounce. We’re really good at knowing where price bounces. That really helps you be a better trader. It’s easier to trade when you have a high degree of certainty where price will bounce.

So, trend and trade location. Um, right now, we’re back into our hourly range that we have on our chart when you’re trading with us live, and so it’ll be interesting: are we going to come back to the bottom of the range? I don’t know, we’ll just trade trend and trade location.

So the tip, well, yesterday we had a fantastic discussion in the group. I wish I had recorded Zoom, and, uh, Mr. Brook said, you know, it is true. He said, ‘I fought it and I fought it and I fought it, but together we do trade better.’ And yeah, we do, and that’s one of the benefits of being in a group, is that especially when everyone’s trading the same chart, looking for the same trades, we do trade better.

Um, so trend lines, I think that’s the most important trend up there that I, I told you about, is this orange one. If I was to draw another one, I’d maybe come here. Would we, I say we went parabolic? I don’t know yet, it’s so early. I’m just watching. I’m not trading. Let’s let things develop with these relative equal highs up here. I wouldn’t be shocked if London came back up here and tried it again, um, and took that liquidity. So who knows? We’ll see what happens. We will trade trend and trade location.

At this time, you would have gotten a warning to check your trend here, and that would have been absolutely perfect. That is exactly what we would do here as we would check our trend.

So news today is 30 minutes after the opening. We have, um, sentiment and inflation expectations. That’s what we have. And then the overnight, we just talked about the strong levels we just talked about.

Well, look at this, as I’m rendering my video, I pop my head on the chart, and I see this. So we bounced off here, and what did we do? We came to the single prints. We came to the single prints before even the market. So here’s something: keep it on your chart. It doesn’t count until RTH takes it out. So let’s say RTH opens down here, well, it took it out. Oh, look at that, we’re coming to the, whoa, my goodness, look at this, right back into the meat of yesterday’s rain. Let’s do this, where’s POC from yesterday? POC is way up there, ’cause it spent forever up there.

Interesting. Now, let’s do this. Let’s go take a peek at everybody else. What’s everybody else doing? So here’s everyone’s halfback. We’re at halfback, almost at halfback, under halfback, under halfback. Interesting, interesting, interesting. Look at that, right to the strong long range, bounce off the bottom of it to perfection. You got to love that.

I’m not, certainly I’m not trading that. I wouldn’t be going long here, just because it’s probably going to bounce from here. You don’t go long. Why? Because, like I said, you could come here and go, ‘Did we go parabolic?’ I’m like, ‘I don’t know yet, it’s a little early.’ Well, is it too early now? No, you don’t long this. You’re either short or you’re flat. That’s what you are, you’re either short or flat. And look at that, that’s beautiful. You just love it so much when you see these levels do what they’re supposed to do.

Wow, look at that. I have no clue if there’s any news or anything, um, but really interesting. So, what if, what’s the pattern we’ve been seeing? It comes to this trend line, and it kind of goes parabolic. I mean, what’s going to happen here? Remember, it is just as dangerous today, if not more so, going into the weekend, and it’s Friday, and it’s Friday.

So, our system would have given you a check trend here. I’m just looking at it on the other screen, and a check trend here. So that’ll be it for me. Have a great day trading, and I’ll see my traders live on Zoom here in a couple of hours. Stay green, my friends, and to learn more about our group, go to MicrosTrader.com.”

Transcript
“All right, this will be pretty short and sweet. This morning, when I left you, I directed you to my website at micrtrader.com, under ‘price map’. I gave you this as the key level. Now, I gave that to you when we were up here, 86 points away, and where did we come and camp out? Down here. So, make sure that you’re paying attention to this price map. In my opinion, I give you several things on here. I’ll put this wrap-up video here. I give you my chart, the key levels I think that are important. You get periodic updates throughout the day that give you the date, the time, and what I said. I changed the format of this a little bit, and I think that works better. These are the updates in order. Any link there you can click, and it will show you either a TradingView chart or a picture I took. It’s going to give you the single prints, the VX, in the strong levels. This is the one that’s been on here for a while; this is the 57 that we came to here. Check that out if you want, on price map. I’ll update this probably Sunday night, maybe Monday morning.

So, when I left you, we were here, and I said, ‘Okay, have we went parabolic?’ Well, as it turns out, we did. We went parabolic and took back more than this day. Just fantastic, in all honesty. Now, how well did the strong levels work? I think pretty good, and can you believe we actually came to 57? That is surprisingly wonderful.

So, my best trade was actually in this block here. I went long. We were looking for evidence of loading up from taking the RTH low. Found my long, made my money there, and I was done. Justin made 40 points on a short from here. This was a different level. I wasn’t going short after we took a daily liquidity and loading up. I was hoping to be in this trade all day long, but it didn’t happen, so no big deal. I’m out, so I can make money on a long while you make money on a short. It’s all good; it doesn’t matter. We support each other, and we’re on the same team. CU together, we trade better.

In fact, he passed two eval accounts to funded accounts today with that. Then, Pac was up here. Pac got raised here, and is there any shock that all we’re doing now is resting right here at the bottom of the M contract range? This 57, the key level given to you not only this morning but earlier in the week, I talked about if we can get under 57, it is ‘Watch Out Below’. Let’s go look at NQ. We had this high-time-frame level on NQ here, and NQ refuses to get underneath it. So, that is stopping ES from continuing its journey down. When we look at all the indices, Russell and DOW have a much different profile than NQ. NES and NQ just won’t release, just won’t get under this high-time-frame level here to grab its weekly low. So, it is what it is. In fact, let’s go look at the weekly charts. Here, obviously, new weekly low, new weekly low. Unless something happens in the next 18 minutes, no new weekly low in a new weekly low. So, I will be updating my chart this weekend, looking to see if I want to adjust the strong levels at all. I’ll post any updates on the price map at microstrader.com, and if you want to jump into boot camp and get training to learn what we do, go ahead and join us at microstrader.com. You can get into boot camp today and hit it all weekend long. Alright, talk to you later. Stay green, my friends, and to learn more about our group, go to microstrader.com.”