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

Welcome ES MES Futures Traders

Good morning, everybody, and Happy Christmas Eve Eve! Today’s verse is a reminder of hope through our sufferings:

“Not only so, but we also glory in our sufferings, because we know that suffering produces perseverance; perseverance, character; and character, hope.”

This verse also reflects the journey of a trader. Perseverance develops character, and character builds hope. Let’s carry this mindset into our trading day.

AM Briefing #329

Brought to you by MicrosTrader.com
“Together We Trade Better“

Tip of the Day: No Level, No Trade

Today’s trading tip is simple but critical: No level, no trade. Period. End of story. This is especially true on a day like Christmas Eve Eve.

  • Watch price action: Love the price action, but do not trade unless there is a level to work with.
  • Great trade locations: Friday was an excellent example with a 100-point news-driven runner.

News Drivers

At 30 minutes past the market open, we have Consumer Confidence data coming in. Be ready to watch how the market reacts to this in our group.

ES Chart Analysis: Where Are We?

Weekend Recap

Looking back at the weekend:

  • The market had a chop range at higher levels.
  • FOMC brought the market lower, testing the next range and backtesting the trendline.

Current Observations

  • Middle of the Range: We are currently in a high timeframe area with thin price action both above and below.
  • Potential Movements:
    • We could move up to test the upper range.
    • Alternatively, we might retest lower levels.

Trend Insights

  • Northward Momentum: Indicators suggest the market is leaning bullish as we remain in the upper distribution of Friday’s range.
  • Bull/Bear Scorecard:
    • Overnight trendline favors bears for now.
    • Other metrics, like VWAP and halfback levels, are too close to call.

Key Trading Levels

  • Bull/Bear Line:
    • Above 87.50: Look for longs targeting higher levels, including the London High or Asia High.
    • Below 87.50: Watch for short opportunities.

Scenarios

  1. Bullish Scenario: If we break above London and Asia highs with conviction, look for long trades targeting the RTH high and possibly 6120.
  2. Bearish Scenario: If we drop below 87.50, look for short opportunities targeting lower liquidity areas.

Final Thoughts

Today could be a no-trade day, which is perfectly fine. Wait for clear opportunities at key levels, and always prioritize staying green.

To learn more about our trading group, visit MicrosTrader.com.

MORE INFORMATION:

WEEKEND BRIEFING: ES MES Futures Traders

Intro

Happy weekend, traders! This is your weekend briefing to help update levels and prepare for the upcoming shortened holiday trading week. Whether you plan to take a few days or the next two weeks off, enjoy the holidays and make the most of this time.

Celebrating Success

High Runners of the Week

  • Congratulations to the 20-Point Club members Caleb, Justin, Jackie, and myself!
  • Special shoutout to Papy for entering the 100-Point Club this week.

These trades are rare but incredibly rewarding when they happen. Let’s aim to get more traders to hit a 100-point runner next year!

Tip of the Week: Don’t Be a Fad Trader

Carefully countertrade and focus on long-term success.

Practice Resources:

  • Use the practice room in Discord to work on scenarios.
  • Try the Trader Games for hands-on skill building.
  • Consider holiday workshops for price action lessons.

Seasonal Outlook

December often sees mid-month runs with potential elastic band rebounds, as we saw Friday. Stay aware of price action and trade levels based on developing trends.

Holiday Schedule

  • Monday: Full day of trading.
  • Tuesday: Half day of trading.
  • Wednesday: Markets closed (Christmas).
  • Similar schedule applies next week for New Year’s.

Friday Review: 100-Point Runner

Key Takeaways:

  • Overnight session saw a gap down followed by strong bullish momentum.
  • Highlighted long trades around VWAP and trendline bounces.
  • Papy captured a 100-point runner, showcasing the importance of identifying and riding strong moves.

Countertrade Rules

  1. Never counter a parabolic move.
  2. Wait for something to break (e.g., parabolic trendline).
  3. Identify inefficiencies like fair value gaps before entering.

Reviewing Indices

Weekly and Daily Insights

  • ES and NQ: Defending key levels while remaining in bullish linear regression channels.
  • Dow and Russell: Still in downtrends, which may complicate broader market sentiment.

Session Levels to Watch

Final Thoughts

The weekend is a great time to refine your levels and review the week’s performance. Stay focused on high-quality trade setups and avoid unnecessary risks during the holiday season.

Mighty Micro
Mighty Micro
Mighty Micro
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