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 video presented by MicrosTrader.com, where together we trade better. Alright, good morning traders, and it’s a very early morning for me. I was up at 3 a.m. this morning, hoping to get a little London session price action, but London has been contained inside of Asia, so there’s been nothing other than me doing my pre-flight, getting my levels. I’m updating the strong indicator today, and I’ll reveal some of that to YouTube as well.

Yesterday was absolutely, honestly, a beautiful day, just beautiful. Unfortunately, it was all in London, and unless you were up early to trade in here and get a good trade location, I just watched it. Oh well, sometimes it moves without you. Yesterday, we said, ‘Are we going to go to 44 here?’ We went down to 44, we camped out forever, then we went back up. And what’s this line right here? Anybody know what this line is? That is last week’s low, and is it any wonder we came back to last week’s low and came back in? We’ve spent the entire night session basically in the middle of yesterday’s range. This dashed line, this dotted line here, is the opening. We spent basically the whole night at yesterday’s opening.

So, we do have this first primary 30-minute trend line, and then this is another primary trend line as well. I don’t know if this is the parabolic of this. It’s fine because what did ES do? ES did exactly what it needed to do; it defended exactly where it needed to defend. We have this beautiful range on our chart, in our group, of where price is, and it came and bounced off the top of it and did exactly what it was supposed to. And this gave me the confidence to be looking for longs here, so that’s why that happened.

So, since we’re here, a couple of new strong levels. This 52350 is, I’m considering, this the bull bear zone. As long as the bulls hold above that, I believe they’re still firmly in control. If we get below that, I have another strong level here, a strong range. Be careful with longs below 520475, and then, where’s my next strong level? Right here, at 7275.

Then, we have a couple more session levels here that you might want to make sure are on your chart. They’re probably already on your chart, but I’m just pointing them out.

So, what has ES done overnight? We’ve basically just camped out at yesterday’s opening. Nothing that exciting to look at. Let’s pull up Forex Factory. Let’s take a peek at today. I know Powell speaks today, so let’s take a peek at this.

So, we got a red folder here, such a weird time, and then we got an FOMC speaker, then we got an orange folder event, then we got a red folder event 30 minutes after opening, then Powell speaks. Plenty of news drivers today, plenty of FOMC speakers today to throw a monkey wrench, and then tomorrow is the day before nonfarm payroll. Today is probably, in all honesty, the last day to trade this week, and then Friday is non-farm payroll.

So, that’s one reason I woke up early today. I was hoping that perhaps I could get some action for the London session, but that doesn’t appear that that’s going to happen for me, so no big deal.

Now, I will say, be careful with shorts above. Okay, this is the line that talked about going to 44. Well, if we get back over that, be careful with shorts above. And then I also have a ‘careful with longs below’ here. Okay, we get below here, watch out that we very well might come to that next strong level, which is right down here, about the 7275 area.

Now, we’ve had two nice down days. Okay, take these three sessions into consideration. Take these three sessions into consideration. So, we very well, it’s Wednesday before nonfarm payroll, we very well have a disgusting extreme chop day. What do I know? But I wouldn’t be shocked because of the trade location and because of the timing of the news events for the rest of the week.

Stay green, my friends, and to learn more about our group, go to MicrosTrader.com

Transcript
“Alright, happy afternoon on Wednesday, April the 3rd, 2 days before nonfarm payroll. Today we had in our group what we call a reversal box. This is something we’re on the lookout for, and we are never shocked when it happens. Today was a good day for our strong levels. We opened up basically starting at this strong level, went up to this one. I took this short and made several points there. It’s funny because I took the short on the strong level, and then when we got back over it, I went, ‘Okay, guys, it’s time to look for longs.’ I went long at the exact same price. So, I went short at one price, and then I went long at the next price. So, it was great. I posted my end of the day chart inside the group. There were five trades; three of them are probably all you should have taken. The other two, see these eight-point candles? If you’re not in our group, these red candles tell us eight-point candles, and we have specific rules about when you can trade around these eight-point candles. So, you probably only had two or three trades today. I made my two trades here, a short and a long, and that was it for me today. I was just casually watching this insane chop. Powell speaking, there’s no way I’m interested in trading. And then the afternoon, I was just casually watching as well. Didn’t participate in this move down, didn’t participate in this move up. I did take this short though. I take it back, I did take one short there, actually, right here. I took a short right there, had a little bit of a move, literally only made a tick and out. So, small day. My best trade was this short here, and no big deal. So, tomorrow is probably just going to be horrible. It’s the day before non-farm payroll. We will be live on Zoom, and we will trade it. Now, if it’s like a small 10-point range for the first 40 minutes or whatnot, I’m just going to call it, move on, and it’s not a good day to trade. One thing about it that we predicted this morning is that you’re probably going to build your patience muscle if you’re going to try to trade this, and you would not have gotten hurt by following our rules and system. I tell traders often, our rules will keep you safe if you let them. See you tomorrow morning.”