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.

“Welcome to the AM Briefing, preparing you to trade live in our Emini Mini Trading Room at microrader.com. Good morning, good morning ES E-mini and MES Micros Futures Traders. I can’t wait to trade live with you in our trading room today. Welcome, Martin from Denmark, a new member who joined early this morning.

So, let’s review yesterday just a little bit. Yesterday was a good day in trend lines and understanding where ES was in relation to the other indices. Are we all on the same train here? When we just did this ridiculous move to take out the all-time high and make a new all-time high, was everybody on board? The answer is no. I was short once in here, as I put in the group, and I only made a break-even on it. Then, I was waiting for a further breakdown. I like George; be a little more patient. Let’s let this break down a little bit more, and then let’s get into the short.

The other thing I want you to be aware of is once you’ve taken the magnet – think about it, this previous all-time high here was Friday’s high – you’ve taken this magnet. What other magnets exist? None. So, if this thing decides to pull back in, should you be looking for a long? Probably not. Probably not. And what a day, man. This just ripped shorts apart. Then, this ripped longs apart if you chased price. Yeah, that was tough. Hopefully, you have a good system and a good group to help keep you safe.

Today is Tuesday, typically the best day of the week for our core strategy. I can’t wait to trade. However, we are, what I call, in a sandwich day. That means we’re stuck under yesterday’s low and in the middle of Friday’s large trend day. We’re in the middle. So yeah, we’ll see. Tip: No, it does not have to keep dropping. And, in fact, what did price do around the strong ranges that we’ve been talking about for days? Well, looks like we are doing pretty good in here. Looks like we’re doing pretty darn good in here. And so, we are now down here at this area that I call the bull-bear zone and bounced literally right off the top of it. How nice is that? So, we’re down here in this bull-bear zone. We’ve bounced off the top. Will this thing continue to ladder up? What do I know? We’re just in a weird little spot now. Now, now.

I’m actually still short some SPX in a different account from up here, and I’m just trailing down. So, I’m hoping to just keep trailing that today. Trend lines today: I’m going to turn on our larger timeframe trend lines. First of all, this is what I try to look for: a dominant trend line in the overnight session. Is there a dominant trend line to pay attention to? And here, it’s this downward slope. Then, on the higher timeframes – well, here’s our 30 minutes. We’re obviously taking it out. I won’t adjust it, but I’ll keep it on my chart as I zoom into today’s trading. I won’t even see it unless price decides to get up here. And then, we’ve got this daily trend line. We’re back to flirting with the daily trend line here at this bull-bear zone.

Yesterday, I mentioned this would be a very interesting spot when price gets down here in relation to the trend line. This might be the low of the day. We might come in here and ladder up and take out the highs today. So, don’t think this thing has to go down. We’re in a weird spot. That’s why I said it’s kind of like a sandwich day. It’s just a weird spot now. It’s a tough spot to initiate a trade.

So today, we have Services PMI. Tomorrow is some jobs data. Then, of course, NFP on Friday. As the week progresses, it gets a little more dicey. So, what’s happened in the overnight? Well, London is under Asia, which is under the RTH. And there is this beautiful area: RTH close plus the RTH low plus the overnight high. So, that is an interesting spot to make sure is on your chart.

Stay Green, my friends, and to learn more about our group, go to microstrader.com.”