Preparing ES Emini and MES Micros Traders
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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.

“Good morning, everybody. Thursday, May the 23rd. Today’s quote: Be careful to live your life wisely and not foolishly. We’ve all entered a trade on the chart that we knew was foolish. Those hardly ever work out. Be wise. Pretend you are leading someone in their own trading today. Would you tell them to take that trade? One of the questions I have in the group each morning as a self-check of ‘Should I be trading?’ Have you taken more than two trades? Were there really more than two great trade entries? So be wise, be wise. Alright, let’s get on to it. Let’s get down into the nitty-gritty because there is a lot to say, and I’m going to try to say it quickly. So, what happened yesterday? Well, certainly this bull bear line that was on your strong indicator—if you’re a member of mine, you get access to the strong indicator that I hand code. As far as high-time frame levels, I want you to know I have not updated it in a week because I did not feel that it needed to be updated in a week. Why? Because we have been in slop and chop, and all yesterday did was expand that range, which we will cover. But how well did this bull bear line do? Let’s zoom in just a little bit more here. There we go, that’s the zoom I want. Um, so you can see how well that played even on that Nvidia candle; it just still held and played well there. Also in the AM briefing yesterday, I gave you um, at the 6-minute and 15-second mark, actually, because I went back and looked at it. I said this would serve as our key level. If we go through there, we’re probably going to have a pit stop here, and we had a nice rebound there. Then I said that would be the next target, and it would be ‘Watch Out Below.’ Now those were not specifically my strong levels, but they were certainly based off session levels, and that played out very, very well. So let’s go to our next topic, which is really ‘Where are we?’ So I’m going to bring out this range, and to me, the range now got expanded. It is proven that this bull bear line deserves to be part of the expanded range. So all we did was pull this down, and the range has been expanded. Yesterday I said when it breaks out of one of my ranges—if I draw a range, it’s because it’s tough, and to leave the range a fair value gaps out—and that’s exactly what we got in the overnight session, which is honestly why this morning’s cover is like The Rocketeer. If you’ve never watched the movie The Rocketeer, you should watch it. It’s a real good one. Um, so up, up, and away we finally broke out. So what’s the key level today? Well, in my humble opinion, the key level is going to be the top of this range where we had to break out a leave. You can see we touched it again, small reaction, and then boom, they’re like, ‘We’re out of here.’ It takes that type of strength to get out of here, and we have now broken up. So I consider this the important line. Also, I’m going to make this area the overnight range. I’m not worried about any of this stuff. I think it messes everything up. So I want you to put your half-back for the overnight session at the half of this distance here. I already kind of measured it once, so somewhere right in here is this half-back for the overnight. I’m not going to count all of that as the half-back area because something more important exists there; that’s the gap up. So make sure you have that gap up on your chart, and I expect if we come back to here, we should have a balance. If we get under it and we do one of these deals, I will short it, targeting the bottom of this opening gap. That is an awful lot of information I just gave you, that also encompasses the game plan today. This is certainly up, up, and away, and to counter this is detrimental to your health. There are no levels above; this is uncharted territory. We broke out of a range, and here we are at day one. The RTH has not even had time to react to the Nvidia news and how that’s all going to play out. So that is going to be the game plan there as well. So what’s the tip of the week? Take the gift—a break even, guys. If you have a perfect entry in our system, 98% of the time if price goes against you, you will be given the gift of a break even. If you were live on Zoom yesterday, we talked about that on my trade. I had one short yesterday. I made sure I did enter at the greediest part of the level. I was given the gift of a break even twice. I did not take it, and the third time it went into my favor decently. I put my stop at a point, made a point on multiple accounts, and it was a fine day. It’s fine, whatever, and move on. That’s the only trade I made. I didn’t trade the afternoon with the FOMC minutes, um, and nor was I going to trade the Nvidia candle. So if you like the information I’ve given, guys, like and subscribe to the channel. And if you’re interested in joining a group of new and experienced—some of them with 20 years of experience—trading ES, check us out at microstrader.com, and I can promise you your entries and exits will have never been more perfect. Well, I can’t promise that’s going to happen because I don’t know you. Maybe you can’t follow directions in a system, but our system will do you right if you follow it. So what are today’s news drivers? Well, today’s news drivers is 30 minutes—I mean, an hour before the opening, we got unemployment, and then we have two news drivers in the first 30 minutes of trading in the morning, plus the reaction to the Nvidia, so be extra careful there, trading um, in the first half-hour um. So we’ll see what happens. Yeah, that’s all you can do, is see what happens, right? So what happened here in the overnight session? Well, for a while there, this London was very small compared to Asia; it is still contained within. You know, it’s going to take one side of it; it just always does. Rarely is London going to be contained within Asia, and it looks like it’s going one direction, right up, up, and away. If you made me draw a line for the overnight session, I believe that would be the prominent line. The key level here is this level, and the biggest target is this level. Alright, let’s take a peek at the indices. So let’s look at the two that are the most highly correlated to each other, NQ and ES. Uh, looks like the same chart. It looks like that uh, INQ is making a new all-time high; it’s taking out; it sure did. Alright, so we can adjust that up a little bit. These two guys down here, righty, the redheaded stepchild, um, is still down here at its half-back, and so is DA. Are we all on the same train? No. Do we need to all be on the same train? No. These are the two most highly correlated, and then this one comes in, and this one is kind of its own beast, but I still like to look at it because if we’re all on the same train, all on the same train, it just makes trading so much easier if you trade with the trend. So let me open up that. So sorry you didn’t get to see all of the ES, but you get the picture now, right? Alright, let’s come back over here. Let’s bring this back. So what’s the game plan today? I gave it all to you already, so there’s no sense in recapping that. So, guys, I do wish you the best of luck today. The summer intensive starts in 9 days. If you become a full member before then, you will not only lock in the current monthly price, which will go up in June, but you will also get to participate in the summer intensive as my gift to you. Stay green, my friends, and to learn more about our group, go to microstrader.com.”