Transcript
Price Action Training Video for ES Emini or MES Micros Futures Traders
all righty all righty happy CPICPI (Consumer Price Index)Measures inflation. Higher than expected CPI = potential rate hikes = market volatility. These reports drop monthly and can cause 50-100 point swings in minutes. Full entry → day let’s just get right into it so yesterday one of the things we do really well in our group we’re good at calling the turn what’s the turn price goes up then price comes back down the turn beautiful reversal box there uh for my members and I’m certain that you see that um we called the top not the top we called the turn really good that um Not only was it based off levels trend lines it was based off understanding of all the indices and so that was really really fun uh when not to trade so in the morning had the smallest IB range in recent memory 7 and a half points for the first hour of trading are you kidding me I really don’t remember one that small and a lot of my members decided hey I’m not going to trade this and I’m out I quit at my quitting time and got out uh did a couple things here around the house and when I looked back on the chart we were here and that’s when I popped back on to the stream inside the Discord group with a couple members and uh we were able to take a little bit of money out of this top but I missed the big flush I missed it I had to go run a couple errands and I just missed it and that’s what happens and so you have to be content and in fact when we got back on Zoom here in this late morning time um looking back over it I missed a beautiful long at 50 our core strategy would have given you that and then because I had to go run in her in the afternoon I miss a massive short and then I miss this beautiful long right here against Trend and this first touch of this strong level the 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 missed me by two ticks and missed out a beautiful 10 pointer like H are you kidding me just wasn’t here wasn’t here missed it happens it happen so when can you look for a short and a parabolic move like that well go view this quick small video that gives you a little bit of insight when not to short go look at that video on parabolic trend lines and it’ll give you a little bit of insight into that so today is CPI day I Meet CPI The Chicken want you to try listen to me I want you to try to to chase this little chicken what do I got to chase a chicken for as embarrassing you know first because I said so and second because chicken and chasing is how we always used to train in the old days you catch this thing you can catch grease lightning ready yeah well I’d rather eat it than Chase it ain’t very mature if you say well neither are you very mature now listen get this thing a fighter ain’t a farmer come on go on and get him get him get him get him come on what’s the matter with you get him pick him up it’s one of the three days of the trifect of news events fomcFOMC (Federal Open Market Committee)The Fed committee that sets monetary policy. FOMC meeting days = volatility. The 2:00 PM announcement and press conference can swing ES 100+ points. Full entry → non-farm payroll and CPI today the rules would be small all if at all don’t be a Chicken Chaser wait till the Sea of 8o candles stop and no chasing you don’t need to make your year gambling today um this is going to reveal the people who have not matured in their trading to a point that they’ve gotten past gambling okay so today is CPI and CPI is really really important What is CPI: Definitions so what I’m going to do is I’m going to read a couple things to you so the first one core CP I core CPI is the change in price of goods purchases by consumers excluding food and energy uh what’s this CPI and what’s this CPI they’re a little different so the first one excluded food and energy this includes food and energy this is the change in price and goods and services purchased by consumers um consumer prices account for a majority of overall inflation inflation is important to currency valuation because Rising prices leads the central bank to raise interest rates out of respect for the inflation containment mandate so that’s the official stuff there why that matters to Traders and those are the numbers we’re getting today 1 hour before the Market opens we will be on Zoom if you’d like to join us even just for one day grab you a zoom pass and I’ll make sure that you get on the zoom with us so um once again you don’t have to be the first to short although several of my Traders were short up here I know papy and Justin and and Jackie and Warren uh those are the ones I just know about you don’t have to be the first short there’ll be plenty of time to do that we’re looking for trend line breaks and multiple daily lows okay so now Trend Lines we’re going to discuss the trend lines and once again that parabolic video I will include an image for you here and probably a link in the first comment so so this was the primary trend line in the morning I want you to notice it broke it and it typically does a nice retest and if you have one of our bounce levels there that is a perfect time to uh go short miss this long here by two ticks but notice the trend line here notice the respects of it even on the other side of the trend line and then it loses it so this has been on our am Zoom seems like for days and days now then it’s come to this second trend line respecting it now it’s back testing the backside of it it’s now went to my next strong level I’m not trading this this early in the morning so I did not take this trade called The Bull bear line so it’s testing two more 30 minute levels it took this one out and it looks like it’s taking this one out what’s below us More 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 → Below I have watch out below here 5,000 975 what do I have further down it’s CPI so I’m interested in what do I have further down okay further down I’ve got some meat right here this is I call this a strong range um we’ve got another 30 minute trend line and we got a daily trend line so this area here is going to be really important um it’s somewhere here 8350 to 7970 5 um and I also am noting here put 7825 on your chart and now let’s scroll down let’s scroll down if this thing wants to flush then I have another level here at 2975 and I also want you to denote 2850 those easily could have been strong levels but TP sometimes when I pick a line I’m I’m just picking it’s several lines and I’m just picking one and sometimes I do a range but put these on your chart as well as beautiful Overnight Session targets so what has happened overnight you have Asia London took Asia’s liquidity and pulled in to my next strong level so how well did this strong level work first touch beautiful bounce did it prove to be a strong level yeah and then it finally flushed it and now we’re going to tap dance off this bull bear line I have not made any adjustments to the strong indicator today there’s no sense in it um I think all these levels are still valid so we’ll see what happens on Zoom see you guys on Zoom here in a little bit Stay Green my friends and to learn more about our group go to micr trader.com oh
Disclaimer & Links
Transcript
Wrap Up Video: ES Emini & MES Micro
all right good afternoon Traders this wrap-up video is a little later in the day than it normally is I traded with my Traders all day and to be honest I was just exhausted so it took a little rest so this morning um before we got our morning candle 3 minutes before the candle I gave the group the same two predictions I basically gave in this am briefing that we would come here to the strong range and maybe we would make it all the way down there so how did the day actually perform so these were the two magnets I had that we would come down to the strong range we made it and almost made it to this one but not quite so today was a good day I was 100% on my trades made 15 points I should have been up much more based off how I saw the day but you cannot be upset making 15 points be content be happy yes you didn’t get every move it’s okay so the Watch Out Below line that was definitely watch out below and then it came here to this strong level and basically what it did it went to the bottom and then we went out and we just tested and tested and tested and this surely turned into a strong range these trend lines obviously playing a role and then when inq and NQ was the key today when inq turned around I told the group let’s keep our eyes on inq let’s keep our eyes on inq and when inq finally turned around we had a really nice move down now if you’re in my group today’s lessons were do not take trades without backup levels we discussed that several times today and it proved to be very true that the next thing is obviously the parabolic trend lines that I talked about in this morning’s a.m briefing when you are on the other when you’re on the wrong side of the parabolic trend line do not counter trade do not counter trade the other thing that was real interesting today that I remarked this was the most controlled little selloff I’ve seen and I just didn’t trust the down move and then at the end of the day you got this strong up move giving it all back there were two sets of single prints that just got ripped back I wish I could have say I was in that but I wasn’t there was no entry for me to be in it now for if you’re in my group this down move here was characterized by lack of no backside development this move was characterized by lack of backside development but this move you had backside development but it was such a controlled selloff I kept warning be careful that this the tempo the pace the Cadence here is just so slow and that NQ seemed so strong that I advised to be careful don’t go short thinking this thing is going to vomit today and it didn’t really vomit yes this was a vomit but then 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 → session this was it was nothing that incredible it was nothing that spectacular to the downside and they almost took it all back isn’t that just utterly amazing we basically came back to the opening okay so the Bears still in my opinion could not get it done but this was a much needed relief that the market needed I was prepared to do a call play if it came to my level here I got out of my put play I did on Friday down here made 300% that was very very nice and I literally got out of at the at the turnaround here now I wish the market would have done this all day because it would have been absolutely delightful but I was following very tight and when we finally broke here I got out and did very well on my put play if we’ have went a little bit lower I might have done a call play here and uh by the day by by the time the day was over it was already up 40% so oh well didn’t quite get into that trade so you can’t be in every single trade you can’t be in all the trade it happens all my trades were really done this morning um they were done this morning and I watched the rest of this develop I just didn’t feel like it was giving me the entries that I personally wanted so I didn’t take them I stayed strict on the discipline and very pleased with that so this chart basically resets for me I’ll have to relook at everything as far as the strong levels are concerned I’m hoping I’ll have the energy and time this evening to do that so what finally happened what I’ve been talking about the last several days we needed to take out at least two daily lows that’s what we needed to do is take out two daily lows so what did it do let’s go check it out let’s go to the daily chart let’s remove everything let’s go take a peek one two 3 4 five daily lows and I don’t even know if it actually took that one I think it did um five four to five daily lows and I was hoping it went a little bit further to my next strong line so excited about that I can’t wait to see what price does overnight now we had a large expansion move what typically happens the day after a large expansion move well this Market’s been so strong I wouldn’t be shocked if it retraced the whole thing but typically it is a day of complex chop and so I’m excited to see what the overnight does to give us a clue going into the rth Stay Green my friends and to learn more about our group go to micr trader.com
