Wed AM Briefing Preparing For Our Emini Trading Room 05/29/2024

ES Price Map (Single Prints, VPOCS, News Drivers,...)

Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

good morning everybody Wednesday May 29th today's quote for God gave us a spirit not of fear but of power and love and self-control you have a lot of power when you're on this chart treat your [Music] Treasures with love and self-control treat your money and your leverage respectfully with love and self-control absolutely all right guys let's get into it today all right right so let's pop over here to micros Trader let's go to the price map So Yesterday um I have to apologize we had bad weather in the area and I was not able to do the entire live on Tuesday but I did most of it so if you wanted to uh watch the group here there was a lot of good questions and whatnot so this was yesterday's uh live video if you want to watch that of course this will be updated with this morning's video so this live will actually be be moved down here to this week's videos probably by the time you actually see this so voox and single prints um I recommend you have these levels on your chart they are not necessarily bounced levels as much as they are magnets for price and today's news drivers well today is Wednesday not a whole lot on tap uh 30 minutes after the opening with Richmond Manufacturing Index and the week is just waiting on Friday and I think it's waiting on what in the world is NVIDIA going to do Nvidia going to do so let's get into the am briefing brought to you by micros trader.com where together we trade better so yesterday here let me zoom in here just a little bit yesterday I only traded the morning or I tried to trade the morning I had zero trades we were stuck in this little 10-point range nearly the whole morning and then we finally got a nice move here a lot of my Traders were able to take this short here in fact I think for three minute end of the day chart that was probably the only trade on the chart but there's a couple more there there's a break level trade there uh so not a whole lot of action yesterday and then this end of the day to me was just ripping shorts apart making sure no one was short and look what it did overnight you are kidding me so I actually did wake up at 1:00 this morning and I uh uh played Short uh actually I went short right here on this white candle I took this this heat here I had additional short lined up here at this strong level um in fact those strong the bull bear line um so I took a short off this strong I had an additional short setting here didn't get me into my additional then we had this hard push down I put I had two contracts actually and I took one off at 50% of that distance kept one at one point and it got me out right there so it is what it is made small but uh was in the trade knew that the strong range existed here and boy did we bounce off of it and uh we're just back and forth through it now so it'll be interesting to see what happens during the rth are we going to go to 62 from here that's my opinion if they decide to flush this down careful with Longs below yesterday they bought it up and ripped like I said shorts a new one and then ladder down all night long seriously that's just crazy so it is what it is so let's go back over here so where are we I think we discussed that very well we are just lading down you can totally um throw on this trend line here and in fact one might even say we departed and we have now I'm not going to say we went parabolic but we certainly have increased the curve of this down move we have taken out two daily lows in the overnight session and just hanging out here in this strong range yeah so that's interesting uh today's tip no need to call bottoms or tops just follow the price action you should never say is this the bottom or is this the top it doesn't matter just follow price and if you're in our system you play the bounce levels as they're presented to you as taught in boot camp that's what you do and guys if you like what I do here on the am briefing please like And subscribe and I will continue to bring these to you each day so the new drivers we just covered there's one um 30 minutes after the opening and the week is just waiting on Friday and my humble opinion so what happened overnight well London is stacking under Asia with clear laddering down um just clear lading down what isn't happening down here if you're in my group what's not happening here I think that's important no backside development and of course we're taking out no break levels to the north this is certainly a ladder down but you have to look at this and go well this is like one ladder I don't know two ladders three ladders four ladders five ladders six ladders seven ladders and we're getting no backside development it will be real interesting to see what happens at the opening real interesting I can't wait um so if you're interested in trading with us check us out at micr trader.com and uh let's go look at now the indices so let's slide over here and let's look at all the indices so Russell and da are under yesterday's low inq is still hugging and it's like no I don't want to go I don't want to go and s is slightly under it are we all on the same train boy look at these vws and look at the ladder yes we are all on the same train right now and it's looking southernly but boy we have had eight ladders down that makes things a little more challenging in my humble opinion but if you made me get on the chart right now the play is short or flat you know how long it's been since I've said the play is short or flat it it even sounds weird com out of my mouth cuz we've been longer flat for so long and this is truly a methodical laddering down and stopping here at a strong range if I draw a range it's a area where I really believe price is going to be sticky it's going to be strong it's going to be difficult to get through and it's proving that half of the overnight session has literally been flirting with that strong range so we'll see what happens we flush underneath there I think we go to 6 62 in my opinion the Bulls are in control all the way to 62 we get under 62 the character of the market could change so what's the game plan well we're not going to call bottoms that's what we're not going to do we're not calling bottoms we are going to trade Trend and trade location in clean clear crisp bounce levels as they're presented okay now we have taken out two daily lows could this thing go right back up into range without a doubt so I can't wait to see how the opening range develops and we trade from there so guys I wish you good luck today like And subscribe and if you're interested in trading with a group of Mees and Es futur Traders check us out at micr trader.com stay safe Stay Green my friends and to learn more about our group go at micr trader.com