Preparing ES Emini and MES Micros Traders
To Trade In Our S&P Trading Room

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. Well, the day is here: CPI day. So, what can we expect? A 100-point move one way or the other way, or both ways? Who knows, but I’ve seen 100-point candles on the 30-minute chart start on days like this, so we have to be careful. Also, the days after CPI, just to look forward, they are just as dangerous. Been the CPI move and then the next two days, we run another 100 plus points. So, between now and the end of the week, it’s level 10 trading. Jesse Livermore is known for saying, ‘There are days to go long, there are days to go short, and there are days to go fishing.’ Today is a fishing day.

Game plan: Well, if I was to trade this, I’m looking for liquidity grabs off high-time-frame levels, such as this Asia overnight low here at about 9150, and then I have this next strong level at 7250, M contract low at 57. Because every dip has been bought, I have to lean towards what is the trend. The trend is up, so make sure you go to my website and pay attention to the price map. I also make updates throughout the day on that page, that you might, if you’re not in my group and you’re thinking about joining, it gives you a little bit of a taste of what we’re doing inside of our group. And yesterday was just fantastic. I mean, look at how well these strong levels played and look where we ran right back to, just absolutely cool. So, I hope you’re utilizing some of the free levels I’m giving out. The overnight session 12o range, wow, you think the market is waiting for something? Yes, it is.

So, today’s tip has to do with Trifecta rules, that is the three major news events: FOMC, CPI, non-farm payroll. Small if at all should you go fishing. And if you do trade, there are two components here: number one, small if at all, plus never make things worse. Now, add that to my initial comment, is if I’m going to trade, I am looking for a liquidity grab after a good distance, like 60 points, like right here, set 70 points to this Asia overnight low. That would be a really nice push, and then does it come back in, and do I get a possible ladder? I might be interested. Now, does that, what if it comes all the way to here? Well, that’s why you’re trading small if at all. Let’s measure that distance. This is another thing I’ll have measured: 35 points. I’m not willing to take 35 points, but then again, that’s 100 points, isn’t it? So, if you wanted to say, ‘I’m going to trade the outside edges,’ well, there’s your 100-point area to where price could come in to here, come back in, and ladder up, and then maybe you can get in. That’s if you want to play this small if at all. Do not make things worse. How could you make things worse? You’re going to take this level, you’re just going to have an order setting here, which is not what I would do, but let’s say you did, and then it pushes down 30 points, and you’re adding, adding, adding, account blown, and then it comes here and then pulls back in, you know, you blew the account right where it was going to turn around, because you did what? You made things worse. Don’t make things worse, okay?

Trend lines: The only one that’s of interest to me is this daily trend line that we are now under. We have been in ‘buy the dip’ mode for months, so I certainly would lean long, but I would love for the price to push down, take out one of these liquidities, and go up to the all-time high, which if you remember was done in the overnight session, and ES, the RTH session, is attracted to go and take that level.

So, overnight, straight across, small range. Strong levels are the same; they have been performing very well. The only thing I’m adding to you are these down here to make sure you see them and understand them on a CPI day.

If you’d like to trade with us live, check us out at MicroTrader.com. Stay green, my friends, and to learn more about our group, go to MicrosTrader.com.”