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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 to the AM briefing video presented by MicrosTrader.com, where together we trade better. Alright, good morning, good morning, good morning, happy Tuesday, March the 26th. So let’s review yesterday, which was this horrible day of price action. So as far as my second know, we went from the biggest week of the year to the smallest day of the year, unbelievable! The biggest week to the smallest day. So yesterday morning, I gave on YouTube this strong level. Boy, did this strong level play out? You bet. And then if you’re in my group, I get you got this strong level, and boy did that play out. We literally bounced the whole day just between these two strong levels, which was really cool. So yesterday was just a small day for me. I took this short when we came up here, and then I was in a long for this, and then I said, ‘That’s it, I’m out.’ Um, at the end of the day, you get this just flush, um, taking out these relatively equal lows, and I thought it might take out the IB low here, but it did not. So make sure on your chart is the London low. We did not take out the overnight low, nor did we take out the London High, nor the Asia High yesterday. So we did not take out either of the overnights yesterday, which is a very rare event. In fact, I think it only happened a handful of times all of last year. So very interesting, the overnight is doing, I mean, are you kidding me? London is stacking on top of Asia, and, um, you gotta admit, this daily trend line played a nice role. And then this 30-minute trend line is finally broken, retested, and is continuing its journey. So at this point, I will delete this 30-minute trend line, and in fact, now this daily trend line represents the new line. And in fact, one might say, have we went parabolic this direction? Very interesting. And then this RTH high right here obviously looks like it’s becoming our next target. And then we’ve got a 30-minute origin up here. Um, that’s not something we talk about often, but every now and then you get these origin levels, and, uh, that will be very interesting to see what happens up there. So today’s tip, did you pass the boredom yesterday? Typically, trading is characterized by hours of sheer boredom by moments of sheer terror. So did you pass the boredom test yesterday? Sometimes that’s what trading is. It’s hours of boredom, hours of saying no, no, no, I’m not trading this. So yesterday, like I said, was small for me. I was up just four points, net-net. It is what it is. Positive, move on. So trend lines, we just covered. Uh, today’s news drivers, we have some. So an hour before the market opens, we have some durable goods. 30 minutes before it opens, we’ve got some more data. Then 30 minutes after, we have confidence in the Richmond Manufacturing Index. So we do have some news drivers today. Tuesday is usually a good trend day, and boy, is it already starting off this direction of being trendy. So I’m excited to trade it, and I will see my traders live on Zoom here in 1 hour. Alright, see you guys.”

Transcript
“Alright, happy afternoon. Let’s do a wrap-up for Tuesday. So, when I left you this morning, telling you to take mark out the Asia low, mark out this RTH low, which also is my strong level, and then this London low, and then last week at 67, I gave you a set of single prints. Now, when I left you this morning, we were definitely trending up. In fact, we talked about how we went parabolic. Of course, we did. Yes. And where’s the obvious target? This RTH high from this day. So, that is where my eyes were today, really. And then, what did price do? Well, it took out that parabolic, then it took out this parabolic, and came all the way back down and created a new London low. We opened up and we started loading up. We took longs there, then we took out the London low, we took longs there, then we took out the RTH morning low, we were taking longs here. And it’s very easy to keep your eyes set on, ‘Hey, we’re coming up here,’ or ‘We’re going to come to the IB high,’ or ‘We’re going to come to the overnight high,’ but you’ve got to make sure you are constantly, constantly zooming out a little bit and looking at the chart. You want to be looking at the chart because from the overnight, what do we have? We have this really nice trend line that every high was a lower high. But boy, the Bulls really fought in here, but this was the smallest range. This was smaller than yesterday until the very end of the day when it vomited. I would love to say I was in that vomit, but I was not. Now, if you’re in my group, go to the trading floor, scroll up just a little bit, and I show the shorts that were in here, and Jackie shows his short that he took as well. Jackie took four contracts, and in two of them, he made 20 points on that, so it was absolutely gorgeous. And boy, the Bulls just gave it up. They took out this pool of liquidity, they took out this pool of liquidity, they took out this pool of liquidity, and they took out the 67 single prints. So, I was not in this vomit. So, what do you do when price runs without you? You stay out of the way. You stay out of the way. ‘Oh well, I missed the short, I wasn’t in the trade,’ and it kept back testing this daily trend line, and then finally lost it. I took this long here off the strong level and captured half that distance, and then when we vomited down, I was looking for us to come back up into here, and I was going to go short, but it didn’t happen, so oh well, I’m out. Missed the big easy move that if you would have been in the right trade, it went so in your profit so quickly. Then all your job is to do is to manage that trade for maximum profits. At one time, Jackie was locking in 10 points, which would have been right up here, and then had one more vomit, and he was able to capture 20 points and did very, very well. So, really interesting afternoon taking back those three session lows, bouncing off the strong level again. We spent all day up here at the strong level, so the move was from strong to strong, and then took out a set of single prints. I cannot wait to trade tomorrow.”