Fri AM Briefing Preparing For Our Emini Trading Room 06/28/2024

Preparing ES & NQ Traders
For Our Emini and Micros Futures Trading Room

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

            ▶️Youtube Community Updates             ▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Good morning, traders! Happy Friday, end of the month, end of the quarter, and halfway through the year. Today's quote: "God created the heavens and the Earth. If you can believe that, you can believe the rest of the Bible. If you believe that God created the heavens and the Earth, you're in, you're good, you're ready. The rest of the Bible's pretty easy." Alright, let's get into it. I'm getting this out early because I want to be live with my traders for the PCE candle, so we will be live, boys. Let's get right into it. Welcome to the AM briefing brought to you by micrtrader.com, where together we trade better. This is episode number 208. Today's news drivers include PCE, PMI, revised consumer sentiment, and the end of the month and quarter. Remember Friday rules times three: don't give your week back, go into the weekend a winner, and trade with a smaller daily loss limit. Next week is a shortened week with non-farm payroll at the end. No trading on Wednesday, closed on Thursday, and Friday is non-farm payroll. If you wanted a five-day weekend, you've got it. Tip of the day: Know where you are and trade accordingly. One simple trend line can help. Yesterday, in the AM briefing, I left you with this trend line and chop zone. We were above the bull-bear line, trending up, and you have to stay with that until it breaks. Yesterday, I didn't trade one ES or MES contract; I traded NQ. I shorted here and went long there. Why one contract on the short and six on the long? The trend line. Short is counter-trend, deserving smaller size. Long is with the dominant trend, worthy of larger leverage. See my website for the price map and posted trades from yesterday. I have a Fourth of July bonus for those looking to join my group. There's never a special or a bonus, but join before July 4th, and you earn all four badges. No time frame to earn the four badges, but you'll get a bonus once you do. Next week is basically five days off, so you could get through the first four badges. I'll help you judge your charts, which is why there's a fee—it's not just videos, it's feedback. For my members, remember: James, we're doing 8:00 a.m. our time, and at 10:00 a.m. Eastern, we'll all get on Zoom to review trades from the RTH session during the week. If you join before Saturday and want to observe, feel free. If I have enough energy, we'll do high time frame markups; otherwise, I'll record it later in the weekend. Now, let's get to the chart. Last night, I made one small trade, went short, hit profit, and kept it at one tick before going to bed. We're now coming back up over this strong range. Here's the bull-bear line. Be careful with shorts above. Yesterday, I mentioned my short exists at 63, and it hit exactly that. Let's look at the chart. First, trend lines. We drew this one yesterday, showing sessions stacking on top of each other, diverging from the primary trend line. Are we going parabolic? Be careful with shorts above. We could see an all-time high. We took out a previous RTH IB high, so I'll remove it. This is yesterday's high; we've already gone through it. These AM lines are critical, and I'll keep them on my chart. We need to consider parabolic trends. Never counter a parabolic trade. Look at the high time frame chart often to ensure you're on the right side. Let's check our indices. Small caps and Dow are mixed, with ES and NQ at highs. We have numbers coming out this morning that might challenge the all-time high, which is only 22 points away—doable in a single candle. Game plan: We're getting above this range. The overnight session was strong, stacking on top of the RTH. Remember, our next live session is Tuesday. If you're interested, check us out on YouTube. Like and subscribe, and don't forget the July 4th bonus. Go to microstrader.com to learn more about our group. Stay green, my friends!



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