How To Mark Your Chart For Futures Trading
TRANSCRIPT:
"Welcome Emini Traders To Our Trading Room. Welcome to the AM Briefing, preparing you to trade live in our E-mini trading room at microstrader.com. Well, today got all the more interesting.
Trading View has gone ahead and switched contracts, as they always do, prematurely in my opinion. So here from the CME website, we can see that the March contract still has significantly more volume than the June, and then of course, you can see September and December. So significantly more volume still in the March contract. I have switched my chart from the Continuous to the H contract. I keep it on the continuous. When we switch over, I'll still be on the continuous. It will show a monster gap, and it's no big deal. I just start charting new levels. It's not the end of the world. I just like to keep it on the continuous chart. So, realize Trading View has switched; it did not gap up today.
And then today, not only do we have today's news, but we have the contract change going on. So, one hour before the market, we will be live on Zoom. If you'd like to get yourself a one-day Zoom pass, it's half price right now—half price for a one-day Zoom pass.
Average hourly earnings, nonfarm payroll, and unemployment rate. I'll try to be on 15 minutes before this news release. I've got to get my wife out the door; it's the final day before spring break, so she will be excited. So, what does that present? A blank chart. I have a blank chart, so that's going to be today's video. As we're going to get this chart ready, it honestly doesn't matter. You could go into the day with zero levels on your chart. Why? It's NFP day. It's going to wreck the chart. It's a day that the market gets to cleanse itself, remove lines off your chart day. But let's go ahead and do it anyway.
So, I'm going to turn on the magnet tool, and I want to be on a white solid line is what I want. There we go. So, what do we have there? There's a couple of things. You know what it is? It's the all-time high, and it's the London High, London overnight high. All right, then we mark the overnight low, which, in all honesty, is back over here. I'm going to mark this as the overnight low, using our pre-flight indicator there to help us. And then, I'm going to mark this Asia overnight low. Now that's marked, I'm going to mark this RTH low. RTH low. And what are we also going to mark? We're going to mark half-back.
So, I'm looking at my lines here. Got to turn off the magnet tool to do this one. I'm going to mark it anyway. Half-back. The overnight half-back is automatically marked with our indicators. I don't think that's going to matter today with NFP, but I'm going to mark it anyway. So, here we've got the London overnight low, and what a range that was. You know what? I also want to know. I want to know 50% of this London range. This is just a monster range. Let's throw this in here. I'm going to mark it here. This is something I don't normally have, London overnight, London half-back. I don't need to put the word overnight because we know what it is. We turn back on the magnet tool. Make sure that's selected. There it is.
I've got another Asia overnight low. So, I'm just going to duplicate that line, bring it here. I've got another RTH low. I'm just going to duplicate that line, bring it over here. I'll also be able to turn on my strong indicator, and that'll be nice. So, another London overnight low here. So, let's—I want to duplicate it, not move it. There you go. Hold down the Command or Control button to do that. And you don't want to be on the endpoint; you want to be in the middle of the line or something like that. Got another RTH low here. Come on. Come on. Right there. I got another London here. And, um, we'll make this Asia. I got another RTH. I don't want to copy all. I just want this guy to 4959. So, I'm going to take all these levels that we just created. I'm going to put them in a folder. So, you select them and you hit 'group in a folder.' And then, I can make that folder small. I'm going to bring that folder to the top. I can turn that folder off. Let's go to the daily chart. I want to turn these levels back on. I want to see how far I kind of got. Okay, and I'm looking at this chart, and I can't envision we go that far. So, I don't think I need to mark anything lower on the daily chart. And if we go lower, you just take five minutes. It's no big deal.
All right, so what do we want to denote in here on this daily chart? I'm going to tell you what. We're going to denote daily volume and balance. So, let's denote those. Another one here, and in fact, let me turn on the other folder. I want to see how far I've marked. Okay, that's as far as I feel like I'm going to need to mark. Um, I'm going to mark this one in red. Um, it's not what I meant to do. I don't know what the heck I had. I had, I guess I had a combination of keys I didn't like. Let's go mark that there. Move that here. Wick. Got a daily fair value gap there. Let's duplicate that. We're going to move that here. That's nothing. That's nothing. That's all right. I'm back. All I had to do was uh, refresh my screen and came back. I have no clue what I pressed to get rid of everything, but that was an interesting look. I'm not sure I would want to do that again, but it was interesting. And what we're going to do is we're just going to mark. We'll mark a couple of those just in case. So that way, we've got all of these now on a daily.
All right, so let's go into a 30-minute chart here. Actually, I want to go back to the Daily 'cause I want to get my daily trend line back on here. I mean, look at that. Let's make that red. Let's go to a 30-minute chart now. Yep, I think that's where I had it. Beautiful. And I'm going to move that into the daily. Let's go to a 4-hour chart for a second. Let's tighten this thing up. I think that's all I'm going to do here. Um, it's NFP day. There's going to be a monster candle that you don't need to trade anyway. All you're going to do is delete lines. Now, these white lines I would not delete; I would just simply move them over, demonstrating to me that they had already been tested for today. But I mean, there's nothing I would really do here. Let's, let's mark a few things. Let's just mark a couple of obvious ones, you know? So, we'll just mark a few obvious ones there. We'll go to 30 minutes. Here you don't need a lot of lines on your chart today 'cause really what you can do is you just let it open, let it settle, let the eight-point candles stop, then you start trading the levels as they're presented to you. The current day levels are the most important levels. Then the next most important levels to me are the session highs and lows—London, Asia, New York—and, respectively, for those ranges, the halfbacks. And then clean, clear, crisp, obvious back sides, front sides, break levels on a 30-minute chart like this. I'm going to denote this. I'm going to denote it. We're going to put, um, we're going to make that white because I wanted to be informational. Well, I'm just going to call this. I'm going to call the vomit candle when the day was over; it just did that vomit. So, I kind of want to know where that's at. I'll probably end up just being just deleting it. It's okay. I think those are everything I want to know going into today. That makes the most sense to me going into today.
So, if you'd like to join us on Zoom, uh, half price on the Zoom pass, uh, go do that, and I'll make sure you get in the group today. Like I said, we will go live 15 minutes before the NFP announcement. I'll see you guys soon. Stay green, my friends, and to learn more about our group, go to microstrader.com."
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