Preparing ES Emini and MES Micros Traders To Trade In Our S&P Trading Room
Opening Remarks
Happy Friday, everyone. So in the overnight session, as part of the membership, I put out a battle plan. I’ve got to do one more thing—hang on—I’m going to turn that off and just switch over here.
I went live a little quicker than I intended because price action is getting exciting. So, we’re live.
Published Battle Plan
We published a battle plan earlier, and this was the setup I was watching. I know Justin and I both got in it. He was planning to hold overnight, but I’m pretty sure he just got taken out. The trade I most wanted is almost there, so I figured we could just watch it together.
Who cares—it’s Friday, end of the month. Let’s take a look at the news drivers for today. Oh yeah—PCE at 7:30, and consumer sentiment right after. Let’s just watch price action together instead of doing a full AM brief.
Trade Setup Evaluation
This was supposed to be the add-on trade, not a primary one. If I had gotten in and stayed in, I would’ve taken an add-on. But I didn’t quite stay in—I moved my stop up too aggressively and got wiggled out.
Even if I had stayed in, the add-on wouldn’t have worked. We still can’t get over this strong level—look at it—we just can’t break through. And then you get a sudden move like this out of the blue. You better have a stop in every trade. Always.
Engaging With the Audience
Good morning, guys. Say hello—let me know someone’s out there. I see a thumbs up—thank you. Probably Scotty—appreciate you.
Am I interested in a recapture long here? Yes. But I really wanted a deeper pullback.
Watching the Levels
Let’s check session levels. I think we had our magnet at a certain level yesterday, and I believe we’re drawing toward that again today. I’d love to see price come all the way down to the strong level—certainly to 6162. This is a 30-second chart, and there’s some evidence of lading.
Still, I’d need something super clean and crisp to go long here. If this setup had happened last night, I would’ve taken the long for sure. But right now, it’s not fully meeting my criteria. That setup last night met all the requirements.
I’ll keep watching. Maybe we get a flush down, and if it reclaims a key level, I might take it. I think we need a deeper pullback. Is this it? Possibly. But I still think 6162 is in play.
Scouting for Entry
Back on the 1-minute chart now. I’m not looking for a trade here, but it’s certainly not a bad trade for someone else who took it off the strong range. We did get over that strong range—that’s something.
Big candles though—three 15-point candles on a 1-minute chart. That’s danger zone. If you really wanted a long off the bottom of this range, your stop would probably go just underneath it.
We’re 10 minutes from PCE, so it’s kind of a no-trade zone based on time. But if you’re aggressive, you could take 95.50 with a stop at 92. It actually touched 95.50, just didn’t go one more tick to trigger you in.
I’m still waiting for my ideal setup. Not surprised if it bounces off the bottom and makes a new high. If it gets under here and retests, that could be a nice short down to 62.
Trade Attempts and Adjustments
There’s the bounce. I wouldn’t be willing to lose much on that trade—needs to be a quick in-and-out. It touched 95, but probably didn’t trigger most people in.
That would’ve been the trade to take if you wanted the long. I had a second shot at it. Oh well. I think we’re heading lower.
Maybe PCE gets us down to 62. Magnet level is interesting. We already had this trade last night, though—it might be done.
It looked like Justin was in a monster trade, but I said last night that I thought the odds of reaching 6162 were higher than hitting 6000. Just my humble opinion—what do I know?
Final Trade and Management
All right, let’s see if the backtest becomes a short opportunity to 62. Your stop would have to go above the bull/bear line. Six minutes to PCE.
I finally got my coffee—slept in this morning after my dog woke me up at 3:30. Tried to go back to sleep while watching the market, which isn’t exactly a recipe for rest.
Trade Execution
There’s the short. I’m going to lock in two points and let it run. Nice long earlier, now a short—targeting 62. Let’s see what happens.
I’m going to switch to a trailing stop in case we get a flush. Good to be in it if it drops fast.
Boom—it hit. If I had traded multiple contracts, that would’ve been nice, but I wasn’t going to do that with PCE in five minutes.
I knew my entry and my exit, and I played it. Green now.
Wrapping Up
Even if it comes down to 62, it’ll probably do some sideways junk first. I’m still watching for the main trade. If it happens, great. If not, that’s okay.
Price is jumpy now—PCE tends to be less volatile, but let’s see.
Looks like the news already hit, but my terminal still says it’s pending. I thought we’d get a pop to 92 and then a slam down to 62. Doesn’t look like it’s going to happen yet.
Maybe during the Zoom later.
Giving it one more minute. Then I’ve got to get ready for mental training and post the AM brief to the blog.
Right now we’re hanging out near the bull/bear line. I almost shorted 93 using profits from my last trade as my stop, but I said no—let’s not be speculative. Let’s trade where price is going to bounce.
We’re bounce traders. Wait for the bounce, then act.
If price doesn’t get back under the bull/bear line, I’m going to wait for the next setup. That’s what you do—another high-probability trade is always around the corner.
Maybe a long again off 95.50. Doesn’t look like they’re going to push it down yet.
I’d be out by now with one point locked in. Looks like we got all dressed up for nothing.
All right, I’m going to wrap it up so I can get some things done. I’ll see my traders live at the top of the hour.
SUMMARY:
- ✅ Strong overnight level at 6162 identified as key magnet
- ✅ Missed opportunity due to early stop movement—emphasis on letting trades breathe
- ✅ Aggressive bounce off 95.50 level was a viable long, but not clean enough for ideal entry
- ✅ Trailing stop strategy used successfully ahead of PCE news
- ✅ Focus remains on waiting for clean setups and not forcing speculative trades
MORE INFORMATION:
Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader
Free Foundations Course: https://academy.microstrader.com/foundations-dashboard/
FREQUENTLY ASKED QUESTIONS:
Q: What level was identified as a key magnet during this session?
A: The 61-62 level was highlighted as a major magnet likely to attract price during the session.
Q: What was the primary reason for missing a promising trade opportunity?
A: The trader moved the stop too aggressively, causing an early exit before the trade could play out.
Q: How was the PCE news event handled from a trade management perspective?
A: The trader used a trailing stop to manage risk ahead of the PCE release, allowing flexibility without overexposure.
