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 MicrosTrader.com, where together we trade better. Good morning, everybody. Welcome to Monday, May 13th. I can’t believe May is almost over. I look at that date, and I just can’t believe it.

[Music]

Well, I forgot to update my quote, so this is the same one from Friday, but it probably means you need to pay attention to this one today. ‘Love must be sincere. Detest what is evil; cling to what is good.’ How do we transfer that to trading? Well, what’s evil? Overleveraging, adding to losers, dropping to a one-minute chart trying to get in early, being the first one to short in an uptrend—those are things that are evil. What is good? Trading with the trend, adding to winners, being patient, and waiting for that three-minute entry that’s just too juicy to pass up.

Good morning, and welcome to SPX Radio, the Futures Edition.

All right, let’s bring this down. So once again, good morning and welcome to the AM briefing brought to you by MicroTrader.com, where together we truly trade better. Let’s get right into it. Usually, I talk about yesterday, but on Monday, we’re going to talk about last week. Last week’s results were very light, to be honest. I hadn’t seen this few trades in a long time. Super low volume all week might have something to do with that, but we had 11 wins, no straight-up losers, and two break-evens. And to the right of that, you can see the results for the past four weeks, just showing you how we’re half of where we typically are, and sometimes we’re a third of where we typically are. Of course, it varies. And if you look at the bottom left there, the ‘Gift of Break Even,’ once again, it’s about a third, a third, a third, which means a third taking the ‘Gift of Break Even’ is obvious. 22 is if you didn’t take the ‘Gift of Break Even,’ it would have become a full loser, and 21 is if you didn’t take the ‘Gift of Break Even,’ it would have become a winner. So, based off those numbers, it is still better to take the ‘Gift of Break Even.’ And since March 31st, that is the core strategy record: 171 wins, 23 pure straight-up losses, nothing I could do about it, and 68 ‘Gifts of Break Even.’

So, let’s get a little deeper here. Where are we? Well, we’re going to start here on this 1-hour chart because we are obviously still trending up, and coming into the trading day thinking that this thing has got to turn around is probably not the right move. Now, when we drill down a little closer, Friday, the best trade was a short, but did it reverse? No, it didn’t even get to the half back on Friday. So, and also, if you’ll notice this, when we pulled in on Friday, all we did was come to this trend line, and it gave us the third touch point. So, very interesting, right?

VX and single prints, once again, those are on my website, but just to show you a few that are right here if you want to just screenshot this, you certainly could, and the values are over here on the right as far as the VPO and single prints. VPOs are simply the point of control from a specific day that has not been retested yet, and single prints represent irrational price action on an RTH chart that pretty much left a gap that only got traded once in a 30-minute period. These are beautiful magnets, and that’s why they’re on our chart, and I recommend they be on your chart as well.

Strong levels—I did not update them at all. I didn’t feel like they needed to be updated, so they were not updated. I can turn them on here to see what might be within our range. So here is this range that we have been bouncing back and forth through just beautifully. And so make sure that you have the session lows marked. We got the London, we got the Asia, we got the New York, we got this New York. You can see how we’re stacking. We got this London. So make sure that you have gone through—it’s a beautiful time on the weekend to go make sure every one of those is intact, making sure every one of those is intact.

So, what’s my tip today? My tip today would be, we’re trending up. I saw this candle last night right here pop up, and I was like, ‘Look at that.’ And now we’re still staying above it. London did not even retrace 50% of Asia so far. So my tip today is, realize the direction we’re heading and stay with that direction until it’s obvious that you should be shorting—until it’s obvious you should be shorting. Your mileage may vary.

So, what about the news drivers? Well, let’s go take a peek over here. If you go to my website, MicroTrader, and click the ‘Price Map,’ you can scroll down here, and you will see the news drivers for the week, and I highlight the ones that I think were the obviously most important. Today we have nothing. Tomorrow, PPI and Powell—are you kidding me? CPI on Wednesday, boy, back-to-back, unbelievable. And then the significance of the news events seems to drop after that.

So where are we in the overnight? Asia is stacking on top of London, but we are still within the RTH range. We’re just ‘cho’ here. So Asia, London, New York, Asia, London, you can see we’re all just within this little small balance area, but it’s five sessions, and we’re just smack dab in the middle of it. We got to see how things shape out.

So where is everybody else at? Well, let’s go take a peek. I’ve already moved these lines, and so it’s easy to come and look at the halfback line here in the middle, and the highs and lows, and just go, ‘Yep, everybody is still within Friday’s range, but we are all trending up. Look at everyone’s VWAP, the yellow line, everyone is trending to the upper right. Everyone is on the same train right now inside of Friday’s range, but we are lading up. We are indeed lading up.

So what’s our game plan? Well, it’s Monday. You can almost call it Messy Monday, uh, see money, take money day. Uh, not worried about five-point runners. We’ll certainly only be trading the AM session, and uh, we got to get away from the middle of Friday’s range. We got to get up here; we need to come down here. So be cognizant of your high and your low and where your halfback is on ES. Be very cognizant of those locations because trading in the middle is rarely a good place to be entering a trade. If you’re going to trade the edges, know where those edges are.

So, traders, I wish you good luck today. Like and subscribe to my channel if you like the information I’m providing, and may price always bounce your direction. Stay green, my friends, and learn more about our group, go to MicrosTrader.com.”