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.

“Good morning, everybody. Welcome to Tuesday, May 21st. Today’s quote is, ‘Every good and perfect gift comes from above, and be thankful for that gift because living in a state of gratitude always creates a better attitude.’ So, yes, acknowledge that your gifts come from above and be thankful. Alright, let’s get into it.

Welcome to the AM briefing, brought to you by MicroTrader.com, where together, we trade better. Episode number 181. Alright, so what about yesterday? Let’s draw the trades that our basic core strategy would have given you. And I mean basic, because there are more trades you would have went long here, short here, long here. Actually, Mr. Roger went long here at 26, if I remember correctly; he had the best entry of all of us. Short here and long here. So, yesterday would have been five for five. Um, so yesterday, although you had to be extremely patient during this, you had to be extremely patient and just wait, and just wait. There were a couple of trades there, but as I outlined in the video last night on the wrap-up show, which I encourage you to go watch, um, that we did a tremendous trade here by going short here, um, a little bit more, and this would have been a core strategy entry, uh, but this was a ladder box entry, a more advanced concept for that short, and then going long here. Definitely, this requires more butt time on ES to see these trades and call these trades out, but we did very well, so that’s exciting.

Alright, let’s go to the next topic here. So where are we actually? Here we go. Let’s go to an hourly chart. So, I’m going to pull this thing in really good here. Let’s go into this hourly chart here. I’m going to pop on these trend lines here, so we have this primary trend line here, then we departed and went parabolic, and we are still in that parabolic move. So what’s happened? We’ve went up, and now we’re in a 3 to 4 day balance, um, but still hanging out at this trend line right there. That trend line you see right there, let me use the line tool to make it easier. Okay, but right now, you’d have to say we’re definitely in this chop zone here, and trading the middle of this chop zone is rarely a good idea. You would like to trade more of the edges, and so that would definitely be a good move here.

Let’s zoom in a little bit more. Let me go to a 30-minute chart. So what I want to H make sure you have marked out, which if you’re in my group, I know you do, um, but if you’re not in my group, still a great idea. I make sure you have this low and make sure you have this half back marked because this is going to denote the lower portion of this chop zone. So we’ve got this up here, and I’m going to, and I’m going to say we, it’s here. So this halfback area is going to represent a zone down here. This is more of the edge of this 4-day balance area, in my opinion, because this was the halfback of this day, and that’s where we came to. Makes total sense to me, and here’s yesterday’s halfback, and that’s kind of the upper zone. So halfback to this low here, half back to the all-time high here, this is the muddy middle. This here is the muddy middle.

Yep, now of course, you’re always looking for it to go grab liquidity on a session time frame because many times that will represent the beginning of either a trend move out or a move back end, and you have to monitor that for continuation and know what to look for, and that’s a good reason to be part of MicrosTrader.com because we are really good at that. So, what’s today’s tip of the week? Well, my tip of the week today is not this one. I forgot to update it on the screen; I forgot I had it on the slide, but the tip of the day here is trade the edges, trade the edges versus the middle. Yesterday, we had a submission in our group of a pre-market entry, and that pre-market entry was in the middle of that range, and the middle of the range is a tough place to enter a trade. So today’s tip would relate to what we talked about earlier, where we’re at: trade the edges, not the muddy middle.

So, what are the news drivers today? Well, let’s hop over to the website here, scroll down, and um, actually, let me here, let me click. I need to update this summer, so the summer intensive starts here in just a week or so. If you sign up to become a member of our group before the summer intensive, you’re going to get that as an extra bonus. So let’s go to the price map, um, because what I wanted to make sure was on here was yesterday’s AM briefing, the high time frame, and then yesterday’s wrap-up show where I talked about making 70 ES points trading Mees contracts. So, um, go watch that.

So news drivers today: today is Tuesday, FOMC speaker, and treasury secretary speaker. Well, one’s at 3:00 AM, and one’s at 8:00 AM, that’s 30 minutes before the market opens. Not a great time to be taking a trade anyway. So, once again, we don’t have any disruptors that might move the needle today, in my humble opinion, and tomorrow is just existing home sales, which can be a mover 30 minutes after the open, and then in the afternoon, the FOMC minutes, unless there’s a surprise there. There are no disruptors yet, so we’ll see how all of that works.

So, what have we done in the overnight session? Let’s go to a 10-minute chart here because I like 10-minute charts in the overnight session; it helps get rid of the noise. What did London do? It took out Asia’s high and low, grabbed both sets of liquidity, um, and, and this happen so much, I wish I lived in London or that time zone because this would be delightful to trade because boy, the recipe repeats over and over and over. I almost got up this morning at 2:00; I actually launched my trading view on my phone, and I went, no, just go back to sleep, there’s plenty of trades during the RTH session, get back to sleep.

Alright, so let’s look at all of the indices. Let me slide over here and actually, I need to rearrange these. So, once again, where are we based on the halfback? Well, one of us is way down here, one of us is way up here, so we’re still all within range. We’re still all within this massive 4-day chop. Once again, look to trade the edges.

So, what’s today’s game plan? Is it any surprise? Let’s try to trade the edges. Now, it is Tuesday; yesterday was Monday. Monday tends to be a ‘see money, take money’ day, and uh, today’s Tuesday, which tends to be a trend day, a day to definitely be looking for those five-point or more runners. And if you’re in my group and you’re ever in a trade and you want help managing your runner, please speak up. I’ll stop trading if I have to, to help you manage your trade because once you can pop that cherry and make a 10-point runner and a 20-point runner, it’s amazing how often they will start coming for you. So please, make sure you do that. And if you really are looking to break down more entries and trade management, make sure you sign up for the summer intensive if you’re a member. It begins in 11 days; it’s every Saturday during the month of June.

So guys, I wish you good luck today, and um, depending on the quality of the day, I will try to do a wrap-up show each evening, but I can’t promise at 100% because sometimes I trade all day, and I’m just exhausted, um, trying to trade the whole day. So good luck today, and I’ll see my traders live here in a couple of hours. Stay green, my friends, and to learn more about our group, go to MicrosTrader.com.”