Tuesday 2.27 AM Briefing + Wrap Up
Preparing ES Emini and MES Micros Traders To Trade In Our S&P Trading Room
📚 From the Trading Library — free lessons on the concepts in this briefing
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 happy Tuesday and welcome to the am briefing for the e- mini micros future trading room at micr trader.com so what happened yesterday we took back all of the single prints from Thursday we laded down and shorts paid if you were patient it was just sloppy price delivery um only at the very end of the day which I was not even looking at the chart was there a nice smooth flush and took out the low and then very similar to yesterday’s Asia and London Asia spent time underneath it London took out Asia’s high and we’re hovering under the halfback so you want to make sure yesterday’s halfback is on your chart we have taken back 50 points of the 150 Point short coveringShort CoveringA rapid upward move caused by short sellers exiting positions. Don't short short covering! These rallies can be explosive and violent. Full entry → rout Valley so make sure you have the rthRTH (Regular Trading Hours)9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Full entry → high here the all-time highAll-Time High (ATH)The highest price ever. No resistance above here—uncharted territory. Price can run HARD at ATH. But also? Profit-taking can slam it back down. Full entry → the halfback on your chart and of course the London low Asia low make sure those are on your chart as well I’m not changing anything about the strong indicator this is still a warning shotWarning ShotA price move that signals a potential shift in momentum. For example, a dip into single prints warns bulls that support is weakening. Full entry → to Bulls Bulls are still firmly in control firmly in control watch out below here I still believe to be true now the truth is we take out this Zone we’re probably coming to here is that Watch Out Below I don’t know but here I believe things could unleash so if we take this out I expect to come here then let’s see what happens now trend lines our daily trend line that we’ve had on our chart for a long time I think these things are interesting to have on your chart look at that touch back test back test it’ll be interesting to see what happens and we’ve also started to now establish a new 30 minute trend line with the first Anchor Point the second Anchor Point I wanted to see it bounce one more time before that becomes a legit line to me so I’m very interested to see if we touch it and what happens there are news drivers today an hour before the opening 30 minutes before the opening and 30 minutes after the opening there’s durable goods and consumer confidence are the ones that stick out to me the overnight we already covered and once again are they really strong levelsStrong LevelsProprietary weekly support and resistance levels used to identify areas for "touch and go" trades or reclaims. These levels act like magnets for price. Full entry → or can they appear to be weak levels because you know as well as I do when things start to flush they flush rather aggressively and your levels mean very very little so if this thing starts to flush you want to stay out of the way and I’ll tell you one of the things I’m looking for today is how does this trend line behave does it bounce one more time and then does this move go parabolic down and when it goes parabolic down you don’t want to long it that’s one of the rules that we use in our room that when it goes parabolic don’t go counter but if you do go super small take the paper cut loss do not make things worse so today’s tip has to do with you got a noisy chart and you’re really getting no level development I often find the best thing to do is to to switch to a higher time frame instead of a 3-minute chart go to a 10-minute chart instead of a 10-minute chart go to a 30- minute chart Zoom it out a little bit more yes it’s going to require more butt time to get an entry but it’s going to clear up the chart for you so noisy sloppy chart switch to higher time frame Stay Green my friends and to learn more about our group go to microtrader.com
Transcript
all right let’s do a quick am update so what’s happened not a whole lot small morning for me I did one long one short up two points nothing to write home to Mama about now the intersection here where the daily and the 30 minute trend line intersected I almost took that short but I didn’t but it is very interesting to note the bounce so what are we doing here well these guys that are short down here are not getting paid yet so you got a risk of something here them running out the door if they decide to take this thing down you could have a really good move this seems like a pressure cooker to me here the tension is building the tension is building we’ve had our opening which was right here a little up move and then it came in and we have not seen our opening since is that the canary and the coal mine that they’re going to take this thing down let’s take a peek at everybody else where is everybody here well Russell is way up here and DOW is way down here in the middle near the bottom
are we all on the same train no we are not but if Russell decides to pull back in which you know can happen at any moment and it does it violently we could have a really good move down on the contrary if Dow decides to turn around and start going up these guys could easily go back up as well so it’ll be very interesting to see how the day happens I will not be trading until my start time this afternoon Stay Green my friends and to learn more about our group go to microstrader.com
Transcript
all right let’s just do a quick little wrap-up video I was five ticks off from the warning shot to Bulls line um I was really hoping it would touch it of course but as you can tell they frint ran that just a little bit now the truth is there was also a 30 minute level right here it was
liquidity grab and come back in when I was originally drawing this range um the Bulls defended right where they needed to defend ran out and took out the overnight high and is now at yesterday’s halfback against the daily trend line I wish this was a time that I could trade because I would certainly be taking that short I drew that for the group and I said that’s where I’d go short and it’s the Market’s still open but you can’t trade this time so I didn’t um but that was absolutely beautiful this was outside my trade trade trade zone so all I got to do was watch it and um and then it ran all the way to here how nice so what a day it took out the IB low the IB High the overnight High and the overnight low es always makes their liquidity money I hope you stayed safe today see you guys on Zoom tomorrow stay green my friends and to learn more about our trading room go to microstrader.com
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