Thu AM Briefing Preparing For Our Emini Trading Room 06/06/2024

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:

[Music] good morning Traders welcome to SPX radio the Futures Edition all right today's quote is death and life are in the power of the tongue they that love it shall eat the fruit thereof be careful how you talk to yourself words have immense power not only how you talk to others but how do you talk to yourself when you struggle build yourself up no one else will build yourself up you're in my group we definitely support each other and um but the most important thing is how you speak to yourself watch your words closely Encourage Yourself challenge yourself and be kind to yourself all right let's get into it so welcome to the am briefing number 193 brought to you by micr trader.com we're together we trade better and it's absolutely true all right so what is the tip of the day today break levels tell the story forget the numbers on the right hand side of the chart we trade the candles as they develop and what's the number one saying in our group Trends are hard to break and the reason why that is is because Traders instinctly love the shiny object of counter trading Trend get on the train which way is the train headed either get on the train or do nothing long or flat was the play all day yesterday either be long or be flat and as I said after about the fifth ladder I tend to I'm done I'm not going to chase anymore I'm not going to chase anymore I mean yesterday did exactly what and we'll we'll go back over that on the chart here in a minute but basically be on the train news drivers level 10 trading for the next 8 Days today's the day before NFP tomorrow's NFP um and next Wednesday is fomc so level 10 trading for sure adjust appropriately maybe your adjustment is going on vacation maybe your adjustment is I'm going to trade just one micro for the next um eight days and add to my winning trade I'm not going to put my count at Jeopardy I'm not going to put my mental and emotional Equity at Jeopardy so what is to today unemployment claims but tomorrow nonfarm payroll so be careful you have been warned So Yesterday trade of the day was that 31 long it's nice whenever the trade of the day I actually take it stinks when the trade of the day is something I didn't take but I was very pleased with that I told the group if it gets over 31 comes back to 31 I'm going long with a target of 50 and it did that and more which we'll see so in the morning I put careful shorting small if at all there are no sellers you don't need to be the first longer flat is the play top of the range is 50 on ES and that's where we went and then we went more so when you get that close to the all-time high it is a magnet that your levels mean very little and the magnet one yesterday that's for sure so how do we trade alltime highs it's you know I I made that post yesterday it's so counter to my personal opinion of the state of our country and our economy to see all-time highs like it really irks me and I lo all-time highs right now for some reason but it's counter to how I personally feel how I personally F doesn't matter doesn't matter at all okay we trade the candlesticks as they develop so how do we trade at alltime highs number one no Bulls are trapped everybody's made money nobody's trapped they have no reason to really get out and I use the word yet and the reason why I use the word yet is because for example right now what has happened since we stopped trading the RT session well we have an Asia High we've got a London High we are in engering liquidity as time moves on so we will trade the levels as they develop sure we have an all-time high up there in fact it's a it's a double it's a double high it's a double top whatever they want to call it but as time moves on we are manufacturing we're engineering pools of liquidity and as price inevitably goes up and down there will be a point that the longs are trapped and they say up I'm out up I'm out up I'm out much like when we when the Market's dropping okay more and more short more and more short more and more short there becomes a point when price comes up that the shorts say let's get out and they all Run for the door and we have a short covering rally they got trapped right now there's no Bulls trapped but every session that goes by the more they get trapped so for get the numbers on the right hand side of your chart 5300 5400 5700 4200 forget those numbers the only thing we care about are the session highs and session lows and the levels as they develop that's what we care about there's always a risk of a liquidation break so as we are trending up and the play is long or flat it's even more important when we're at these type of points to never add to a losing trade never make things worse so if you go long eventually it's going to go against you okay eventually it's going to go against you and you just get out it's no big deal there's another high probability trade right around the corner now we just had what a 70 something Point move yesterday making all-time highs the day before non-farm payroll today would be a good day to not trade or to trade one micro small never make things worse never make things worse dial it down yes it can keep going we're only 25 points from 5400 25 points it's nothing we did 70 yesterday so yes it can keep going but now next week level 10 trading all-time highs dial it down don't allow this location on the chart to hurt you dial it down that's my advice guys if you like what's happening here at the am briefing please like subscribe heck tell other Traders about it if you think that there's value here and if you're interested in finding a group of es and NQ traders to trade with check us out at micr trader.com so seasonality boy look at the beginning of June there did we kind of is this looking pretty familiar interesting and then we got um fomc of course we have no clue if seasonality will match perfectly but it is worthy of taking a Peak at in my humble opinion so now let's get to the Chart all right so where are we that's the main point of looking at the chart as where are we well we made new alltime highs around 63 somewhere in there was the all-time high and where are we right now full and complete Acceptance in the upper distribution of the day in fact at the rth high this is acceptance no one's trapped no one needs to get out fomo buying is a thing 80% of the time the market goes up so so we very well could have had this move up we're going to do this and then we're going to do that again okay we'll let the candles develop it'll tell us what to do if you made me trade right now I would do nothing until it took a session liquidity I would do nothing I would just watch show me you're going to do something I have no clue what you're going to do okay and I'm going to do it what small small you do have two sets of single prints from yesterday put those on your chart I will update the uh voox and single prints on the price map at micr trader.com uh this morning at some point so let's look at trend lines so we have this major trend line that we've had on our chart that we did on the Sunday chart marking so don't miss this Sunday's chart tuneup on the es and inq charts um we'll get you ready for trading for the week yesterday was this trend line initially then it got adapted out then we got it adapted out okay and it's no big deal the play was long or flat now when it hit the top of this range which was really beautiful cuz I 50 was my Target and we had a really nice move there I know at least one or two of my Traders took that short and that's okay it's top of the range it's a great trade location to try a short then we got up over the range and I told him hey 50 will be a great long and 50 turned out to be a great long um and then this stupid little move here at the end of the day to make sure that it uh blew the top and grabbed the all-time high so it is what it is the O the all-time high is right now done in the overnight session not during r t h so this trend line is obviously a delete now and I would Mark the top of this range at this 5350 we nothing changes until we at least get underneath here okay you want a new bull bear line that's it in my humble opinion now let's do this I'm going to turn these off I'm going to bring on my strong levels here so here let me move these into my sessions folder so when we opened up yesterday I told the group if we got down if we took out this London low and we had this strong level here I had a short setting right there and it didn't get me boy would that have made a even a just a greater day if it had gotten me in it was against Trend pushing it just a little bit more but I really thought it would grab that London liquidity it did not so I missed that long now for those who couldn't have attended Zoom I said I wish it had taken it because I would have certainly I'm going to put back in this FIB I would have there there's our range I would have taken this long had we taken this liquidity because this big magnet was still present I chose not to take this positional trade um of course you can take anything with one micro but the the danger of that is is you do it too often and you die the death of a th000 Cuts so I resisted just jumping in there um had it taken this overnight low liquidity I would have 100% been in that trade so I had to wait until I got my 31 entry which was right here and no big deal it was turned out to be a great trade so we went from the bottom of that range to the top of that range and it performed beautifully and then it broke out over the range and continued so we are in breakout mode to the north um resist shorting resist shorting when can you short you better have those rules in place when can you short an uptrend you need to have those rules in place for yourself to me it's until something breaks or it's a session high or low well we don't have any session highs above us but this one okay so if you wanted to try a small short against the overnight high in the all time time high there that's the only one and until we have weakness you don't short okay weakness so let's go look at the indices where are we right now in relation to yesterday well it's pretty interesting Russell is obviously lading down but still in the upper distribution um Dow looks minor ladder down but still in the upper distribution NQ is still above es is flirting with yesterday's high as we saw so we will monitor these to see if we all get on the same train so we were all on the same train yesterday in fact um if you load your Essentials indicator this went green what's important about that box going green that means each of the indices were above their previous day high that certainly means uh don't counter don't counter on the trading floor you were getting alerts don't counter this move you were getting alerts careful counter trading careful counter trading the trend is your friend so what's the game plan today well it's to know where we're we're at horizontally that is tomorrow's NFP level 10 for the next week dial it down that's the first step dial it down second step we only short weakness not strength and we are in a very strong move with a strong overnight in my humble opinion we will trade the levels as they develop and realizing every session that goes by New Pools of liquidity are being engineered and when will the Bulls feel like they're being trapped and they run out the door and the final thing there is do not make things worse worse if you get into a trade okay do not make things worse it's towards the end of the week Friday Rules start today in my humble opinion and so I would treat it as such and be very tight in my humble opinion and if you get into a trade at a great trade location try to milk it try to milk so today is the day before NFP it is certainly a day to not trade it's certainly a day to go fishing and drive golf balls please dial it down and let's trade great together so guys I wish you good luck today I want you to have just a fantastic day and I can't wait to trade with my Traders this afternoon and I will see you guys later Stay Green my friends and to learn more about our group go to microstrader.com