Preparing ES Emini and MES Micros Traders
To Trade In Our S&P Trading Room

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 micrtrader.com, where together we trade better. Good morning, everybody! Monday, April 29th, in Town, USA, where it’s always 72 and sunny. But I looked on the weather map and towards the end of the week, bad weather’s coming in: hurricanes, typhoons, tornadoes. That’s right, a typhoon is coming to your town Wednesday afternoon, about 2:00 Eastern. You can expect it to [Music] arrive. Alright, today’s quote is from one of my favorite “dead guys,” Charles H. Spurgeon: “By perseverance, the snail reached the Ark.” And that’s exactly what we need as traders: perseverance, so we too can make it on the ark. Now, this song right here is “Devil in the Bottle.” We know what the devil is; it tempts us to do things outside of our trade plan: over-leverage, move our stop, add to losers. You’ve got to say, “Not today, devil.” Alright, let’s get on it. So, this is the AM briefing brought to you by micrtrader.com, where together we trade better.

So last week, I experimented with doing the AM briefing and streaming for an hour and a half of our Zoom, and to be honest, I didn’t like the timing of the beginning of that AM briefing. Um, a lot of times, I’m trading then, so I’m going to move this back a little bit. And in four weeks, my wife goes back to school… I mean, she’s off from teaching school. She’ll have the summer off; it might tweak again. It’s okay, I’ll get the briefing out, just the AM briefing. If you ever want to join us live on Zoom to try us out, just go to my website, micrtrader.com, and grab yourself a Zoom pass. From time to time, I do offer free Zoom passes; a couple of times a year, I’ll do that. But if you want to pick a day that you want to attend, go ahead and just pick yourself up a Zoom pass.

Alright, so let’s get to it. Last week’s results were 18 wins, two straight-up losses, and if you’re a member, go to the trading floor, scroll up just a little bit. I gave some notes about those two losses and ten break-evens. Now, the important thing about those ten break-evens: I believe seven of them were just pure, just take the gift of break-even. It went to the level, it didn’t bounce, it’s just hanging out, you know, back and forth. You’re up two points, you’re down two points, you’re up a point, you’re down a point. Just get out; it didn’t bounce, quit hoping. But two… three of them, if you did not take the gift of break-even, would have become full losers. And this is why I continually say, take the gift of break-even when it’s presented to you. So that’s the tip of the day: if the level doesn’t bounce and you know if it bounces ’cause you look at your DOM and you’re immediately up two points, you’re up three points, and it keeps going, that’s a touch-and-go. Um, the wiggle, wiggle, wiggles, some of you are better at holding those than myself. But in our metrics, three of those wiggle, wiggle, wiggles would have become full losses if you did not take the gift of break-even.

Alright, so where are we? Well, we’ve had two strong days. We’re coming against this high-time frame trendline. We’ve established a new one down here. You might even say we went parabolic. And so, we’re in a very interesting area. Are they going to push out? It looks like they’re going to push this thing out again. Let’s zoom in a little bit more on this. So, for me, if you’ve been in my group, my eyeballs have been on 2150, 2150, 21150. That’s where I’ve had my magnet. I want to see if we get there. And look what happened: London took out the Asia low. In fact, I want to see something. I bet it took back half of the opening gap. Let’s measure this. No, it didn’t actually quite get halfway there, but it got into the opening gap last night and left. So, I would mark your opening gap on your chart, if I were you. Um, because it’s certainly a strong magnet. And what you want to do is you want to mark it from close to open. Close to open, right there, closed open. There’s your gap. And so, you want to make sure that that is on your chart. Now, we’re obviously lading back up. Look at all these relative equal highs here. Certainly, this overnight Asia high here is the target. I wouldn’t bet against it from getting there. Alright, let’s bring this in a little bit. So, let’s go over and look at each of the indices. Where are we all in relation to the halfback at this point? We’re all basically up here. Are we all on the same train, basically? Um, we’re still kissing Friday’s high, but we are all in the upper distribution with very little exploration back into the range. Make no mistake about it, the Bulls are in control. It is theirs to lose.

So, game plan here: the 5150, like I said, it’s kind of my upside target. And then, the next thing that’s important… let me turn on my strong levels. So, if you’re a member of my group, your strong levels indicator was updated this morning. This 5127 is an area that really is important. It was tested for 24 hours here. Now, we’ve spent some time above it. What’s going to happen if we get back there? Are they going to lose it? It’s very, very possible. And then down here, I have a bull-bear zone. And it’s a 10-point zone. But if price comes down here, this is where the Bulls want to defend. If we get underneath there, you could have a really nice move because we got all these daily lows here. And this daily low was done in the overnight session. It is very insecure that you could easily see ES come and gobble these things up if it wanted. So, when… if it gets down here to the bull-bear zone, I’d be very careful longing underneath here. And if we take out this area here, careful with shorts above is my advice to you.

So, if you wouldn’t mind liking and subscribing, and may price always bounce your direction. So just one final time here. Alright, all of that looks good. Now, let’s come over here to the price map at micrtrader.com. And here on this map are some levels you want to make sure are on your chart. Scroll down here, and actually, I need to update… oops, sorry. Actually, I need to update this. This is not the time. I’ll update that as well. Single prints you want to make sure are on your chart. If you want a little talk about what single prints are, you can click those videos there. Monday today, there’s no news drivers. Later in the week, FOMC, non-farm payroll, we’ll talk about that as we get later in the week. Should you trade that? Should you trade that? The VOOX that you want to have on your chart and the strong levels, whatever I reveal here in our AM briefing is the levels that I’m going to give you. And I gave you the 50 as a target here and then this bull-bear zone down here, about this 45 to 55 area. So, if you’d like to trade with us live, check us out at micrtrader.com and grab your Zoom pass. If you want to learn how to draw the levels that bounce well, think about becoming a full member. I wish you good luck today, and I will see you later for.