Thurs AM Briefing

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

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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. Welcome Emini Trading Room all right happy Thursday morning I believe we’re are in store for a triple Lindy type of day you’ve got to be of a certain age category that probably even knows what that is go to YouTube and type in triple Lindy l i n d y some good humor to start the day so let’s start News Drivers off with the news events so we have core PC e today and what that is that is the change in price of goods and services purchased by consumers excluding food and energy so this is an inflation number it’s the fed’s primary inflation number which then affects interest rates which affects everything else so alert alert alert level 10 triple Lindy difficult day in front of you couple that with unemployment claim claims at the same time 15 minutes after the open Chicago PMI more inflation data and then 30 minutes after the open pending home sales and then you have a fomc speaker later in the Trade Day??? day you want a good day to take off today might be it so the last couple days you have been tested in perseverance in your patience for 1 2 3 4 5 6 7 eight sessions we have been a pressure cooker and in fact yesterday’s range was a whopping what 20 points inside of the day before range so this is what is called an inside day the pressure cooker is cooking we came here and tested this level had a really nice bounce and then yesterday when I came on I said all right it flushed the previous day’s load is this going to be just a break-in trade and it sure was with a horrible inside day which you must expect the day before a monster news release the market is on baited breath waiting for this number to see how we can devastate the chart and overnight we had this really nice move back up into this area that kept getting rejected yesterday it got rejected again we flush yesterday’s low we flush yesterday’s overnight low and we’re back in this strong range warning Strong Range ES Levels shot to Bulls careful with Longs below I believe that if this thing decides to flush this might just be a little bit of a pit stop you never know it could turn around what do I know we monitor for continuation that’s what we do we monitor for continuation such as yesterday it flushed this low and then we monitor for continuation yesterday did not yield many trades duh it’s a 19point range you’re not going to have many trades you have to be the master of patience and wait for your Yesterday Short setup the one short I took in the afternoon was absolutely perfect in fact it’s the very first bounce level I teach in boot camp and it was just beautiful and perfect I know me and at least one other Trader took it and I did it in two accounts One account I followed it at 50% which is what you should do on chop days or if it’s a counter trade in the other account I kept it at one tick just in case just in case it was the move that that went larger but it was not the move that went larger so no big deal so what’s going to happen today I have no clue guys I don’t really know I only Marker want to know where I’m at and where is Price most likely to bounce we’re obviously trending down off the multiple days and off many days months we are trending up now both of these trend lines got adjusted a little bit this um orange line my 30 minute line got adjust it up just a little bit and the daily got adjusted down just a little bit when a trend line is hard closed you can adjust it I don’t like to adjust it too many times I’ll be honest um just continually adjusting a Trine do does make a whole lot of sense really depends on the steepness of the line so let’s say a trend line started out like this for an up move and then price came in and did this and now I got to adjust it again and then price came to here and I eventually I’m like okay what am I doing you know that’s why trend lines aren’t tradable they’re movable um it’s just to give you an idea of where is price on the left side of the chart I can’t see so when I come in let’s say let’s come into a 10-minute chart here I know exactly what the chart looks like on a higher time frame 30 minute time frame and I know exactly what it looks like on the hourly time frame to the left of me where I can’t see it now as I’m trading throughout the day many times I’ll turn that off I do not need that on my chart what I really need typically are the session highs the session lows and other factors that we have in our core strategy but I will turn on from time to time my trend lines to know where they are at you don’t want to enter a trade Todays Tip if you don’t know where you’re at you have to know where you’re at because trade location is important in fact it’s critical trade location gives you patience actually like hey I absolutely love this particular trade location I’m going to be a little more less aggressive in my profit taking here cuz I want to give the trade some room plus I am with the trend so I love my trade location and I am with the trend so hence then there I want to be more patient with my Runner if you’d like to be with us live on Zoom check us out at microstrader.com Stay Green my friends and to learn more about our group go to microstrader.com

Transcript

okay let’s do an update as promised this morning it was level 10 difficulty day if there was a day not to trade today would probably be it so how did the strong range hold up again boy did the Bulls defend where they needed to defend again so shot up you stay out of the way stay out of the way and then there was two or three strategic places I went short we went short here I went short actually I think it was on this candle and I just stayed in it back and forth back and forth it’s highly unusual for me to do that but I liked that inq had taken its liquidity to the north and it pulled back in so I was going to stay patient and then luckily got this really nice vomit move and then I added to my short here and got out of the add-on here and got out of my original Short here and did very well um as you can see here and I did that in two different accounts there was no reason to trade anything larger than small leverage on a day like this pick your spots wait for them be patient and have a system that helps you be successful I hope you had a great morning I’ll check the chart again in a few hours Stay Green my friends and to learn more about our group go to micostrader.com

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