Sun AM Briefing Preparing For Our Emini Trading Room 11/03/2024

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

Weekend Briefing: Insights and Trading Updates

Good morning, everyone! Today is a bit unusual as I’m up early for a Sunday, thanks to the time change. My lovely wife is still sleeping, so I thought, why not start the day with a weekend briefing? Welcome to what I’m officially calling the “Weekend Briefing.” I’ve tried a few names, but this seems to fit, given we also do briefings during the week. Sometimes, simplicity is best.

Shoutouts and Top Performers

This week, I want to give a big shoutout to our top achievers in the 10-point club. While Caleb didn’t record his points in the Discord this week, I’m sure he hit impressive numbers, possibly even a 30-pointer! Jackie also logged a solid 20-pointer, so congrats to both for a stellar week. Personally, I scored a “hat trick” on Friday—three trades each capturing at least 10 points. I’ll share those trades with you shortly.

Tip of the Weekend: “When in Doubt, Stay Out”

With this week bringing the election and an FOMC meeting, the markets could be volatile. My advice? If you’re uncertain, consider sitting out. Alternatively, use just one micro contract and limit yourself to small, manageable losses. If you’re unsure who’s in control of the market based on your charts, it’s probably best to avoid trading. This advice applies not just this week, but all the time.

Weekend Homework Suggestions

For those of you doing some weekend analysis, here are a few homework suggestions. Seasonality trends indicate an upward movement as we approach the year’s end. However, given this has been an extraordinary year with multiple record-breaking days, take this with a grain of salt. It’s like reading the Farmer’s Almanac: not always precise but fun to consider.

Key Market Drivers

Our primary focus for next week will be the election and the FOMC. As the week progresses, volatility may increase, especially with the CPI report coming up. We’ll be trading live each day, but remember the advice: if you’re in doubt, stay out.

Friday’s Trading Highlights and Key Chart Levels

On Friday, I managed three notable trades, capturing 10, 20, and 10 points, respectively. One of the highlights was a moment where both Caleb and I were in opposite positions. I went long, while Caleb held his short position, demonstrating the flexibility of our system. It’s rewarding to see traders supporting each other, even when our trades take different directions.

For those curious about chart setups, I’ll briefly walk through my approach. I use a variety of indicators, including session levels, volume imbalances, and fair value gaps, to ensure our charts are ready for the week. As we head into Monday, I’ll be updating these levels to reflect the latest market moves. These key levels are invaluable for navigating the price action and can provide a clearer path for the week ahead.

If you’re interested in refining your skills, consider joining the TradingView Leap challenge this week. It’s a great way to practice and try out different trading instruments.

Final Notes

If you’re keen on enhancing your trading knowledge, check out my free Foundations Course. It’s a great resource for both seasoned traders and beginners. Plus, for the month of November, you get a free Zoom pass to join our group sessions.

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader
Free Foundations Course: https://academy.microstrader.com/foundations-dashboard/

SUMMARY:

✅ Weekend Briefing: The briefing covers top performers and key market insights for the coming week, especially with upcoming events like the election and FOMC meeting.
✅ Trading Advice: This week’s tip emphasizes caution—”When in doubt, stay out”—especially given potential market volatility.
✅ Key Chart Levels: Important chart levels are identified to guide trades, using tools like fair value gaps and volume imbalances.
✅ Friday’s Trades: Highlighting successful trades and showcasing flexibility within our trading group as traders manage both long and short positions.
✅ Free Foundations Course: Recommended for traders looking to sharpen their skills, with additional free Zoom sessions available in November.

ADDITIONAL LINKS:

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