Mon AM Briefing Preparing For Our Emini Trading Room 06/10/2024

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, everybody. Good morning, good morning. Today's quote: 'Be strong and let your heart take courage; hope in the Lord.' What a beautiful day! What a beautiful weekend! I hope you had a great weekend. We had a great weekend here, and I'm ready to get to trading. But what a week we have in front of us, no doubt about it. No doubt. Alright, guys, let's get right into it. So, welcome to the AM briefing number 195. Boy, almost hitting 200 here. Very cool. And uh, so let's get right into it, brought to you by MicosTrader.com, where together we trade better. Alright, actually, I meant to stay right here. Boy, one day I'm going to get this down. One day. Alright, let's get into it. So, the tip of the day is: if you have an early win this week, walk. Can you do that? Let's say, because we know we have CPI and FOMC on Wednesday, but let's say for some reason today you knock it out of the park, take the week off today, tomorrow, either of those things happen, you have a great beginning of the week, and you just crush it, just walk. Can you do that? News drivers—no surprise here—we talked about this on Friday's AM briefing: CPI and FOMC. This is a level 10 week of trading; respect it, and we will all do good. So, last week, our core strategy gave us 12 winners, one loser, and, uh, really no break evens; it was a pretty decisive week. Uh, these are the first three trades that are taught in boot camp on the three-minute chart during RTH. Um, the rest of those are the previous weeks; I kind of just roll them off as we get new weeks. So this week, Sunday, we had that chart tune-up. Okay, so there's levels I'm not going to go over today because we did them yesterday. Uh, tomorrow, Tuesday, we have a YouTube live in the morning. Um, I go live at least 30 minutes before the opening; it depends on the morning and all that good stuff. So I will put a link below in the comments for that. And if you like what I'm doing here, guys, uh, do what the minors suggest: like and subscribe. So, risk level this week—it's a level 10 week—so how do we leverage down, which is a great suggestion, in my humble opinion? Can you trade one contract and one account? This helps limit your potential damage. One contract, one account; this will limit your potential damage, and if you're right and price goes your direction and you get a move, you can always add to your winning trade. So if we're going to leverage it down this week, one contract, one account, do not add to a loser, do not make things worse, but look for opportunities to add to your winning trade. So once again, the little seasonality chart looks like we peak up here about a third of the way through, which is uh, this week, and then the rest of the month it looks like it goes down. So we'll see what that all looks like. So now let's go to the chart. Like I said on Sunday, we did a lot of this, so there's no sense of me repeating a lot of the things. It's more of like, where are we right now? Well, the London took out uh Friday's RTH low already, did a little liquidity grab, pulled back in, and go. That would have been a nice trade for somebody, and this 50 level, uh, which by the way, if you're a member of mine, I updated the strong indicator. Um, the strong indicator includes this 50 level, and uh, you can see just how important this level has been. It's really delightful to see that my bull bear line is down here, here at 0975. So it'll be interesting to see what happens if we explore the bottom of this range. To me, the bulls still control as long as we are above that. In fact, you could probably argue they're still in control under that, but um, I certainly view the bulls as in control. The all-time high is on your screen; that's how close we are. Took out this liquidity here. Who would be shocked if we went and took out that liquidity? Nobody. Nobody. Um, so the only thing I would note is, it looks like we're stacking the sessions are stacking down, which you go, 'Alright, interesting.' Um, but we already grabbed the liquidity here, and are lading back up, so um, what would I do if I had to start trading right now? I'd wait till see what happens at this 50 line. Do we ladder above this 50 line? Do we start lading below this 50 line? To me, the 50 is the bull bear line initially here, you know, just in this overnight session. Where's the battle? It's 50. Um, but overall, I like this down here, so I lean to wanting to be long, um, because the bulls are in control. But the truth is, that doesn't matter at all; we're going to trade the levels as they develop. And I know, as long as we're above this line, you probably want to be longing, and if we get underneath this line, you want to look for opportunities to go short. It has already taken the RTH low, but you have two overnight lows back to back right here. What a yummy piece of liquidity here in the middle of the range. So I can't wait to see what happens there. Let's go now look at all of the indices. Where are we in relation to halfback? Very interesting. Are we all on the same train? Boy, um, yeah. Um, well, you got one that's under, right? And the other three are just hovering down here in the lower distribution. That's not something we've said in a while. Um, if anything, we've been in the upper distribution or above, or three of them are up here, and one of them's down here. So we are all in the lower distribution. I'm going to squeeze this in a little bit. I want to just see exactly what happened in the overnight session. Okay, very nice, very nice, very nice. So what's the game plan today? Like I said, the 50 is really critical. It's the minor bull bear line; it's the overnight bull bear line. Longs above, shorts under, my humble opinion, and uh, we will trade the levels as they develop, cognizant of a level 10 week, cognizant of that. It's better to leverage down this week, and if you get a really good, if you have a great day, consider taking the rest of the week off. And tomorrow is uh, our YouTube live. See my traders live here soon. Stay green, my friends, and to learn more about our group, go to MicrosTrader.com."