Mon AM Briefing Preparing For Our Emini Trading Room 07/01/2024

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! Happy July and happy second half of the year! Whatever you didn't accomplish in the first half, let's double down and get serious for the second half. Dial in your leverage, dial in your key trades, be patient, and maintain an even strain, as they say in "The Right Stuff," one of my favorite movies. Alright, I'm excited! This week's going to be a weird one, so get ready. July, oh my goodness, wait till you see that chart. Let's get into it. This weekend, my wife and I read the part in Exodus where Moses gave the Ten Commandments. I thought for the next 10 days, we'd go through the Ten Commandments. They say something like only 40% of Americans can name four of them, so let's go through them. Today, we're going to do the first one: "I am the Lord your God. You shall not have other gods besides me." The one and only. That's the first commandment. We'll go through all 10 of them; I think it's a great thing. Alright, let's get into the nitty-gritty, my friends. Let's do it. So, good morning, welcome to the briefing brought to you by micrtrader.com, number 209, where together we trade better. I love this cover picture; it represents my group—a bunch of professional, clean-dressed, clean-languaged traders trading together, looking for the same trades, making the same levels, and discussing how we can become better, how iron sharpens iron. So, news drivers—big week here. Tomorrow, Powell and JOLTS, then you're off for two days, and then Friday we will be live with non-farm payroll. Next week is CPI, so the trap the trader game is going to be on full display. What will the market do today? Yesterday, we went up almost to the all-time high and slammed it all the way back down to that 551 level we've been talking about for two weeks. Typically, after a big range day, the next day is slow and choppy, and it's Monday, so it will be interesting to see what happens. Your job is to be a professional risk manager. Even if you're not in my group, if you go to micrtrader.com and click our system and leverage metrics, I give you the full leverage metrics training that is in the Core Strategy Academy. Results last week: 18 wins, zero losses, and two break-evens. Both break-evens would have been full losers had you not taken the gift to break even. If you're in my group, go to the trading floor. Saturday morning, we went live on Zoom as a group and went through every trade. It took an hour and a half. If you want to watch that video and see how I went through the chart to create the metrics in our system, it's available. Out of the 1,154 trades, 590 were chosen trades, 493 were profitable, 15 were flat-out losers, and 82 were break-evens. On those 82 break-evens, it's basically a third that were obvious to take the gift, a third would have become profitable if left alone, and a third would have become full losers. I am not afraid to take the gift of break-even because there's always another high-probability trade around the corner. If you're thinking of joining my group, check it out at micrtrader.com and click "Become a Member." Tomorrow is YouTube Live, so you can get your Zoom pass or watch us trade live on YouTube. Seasonality—July looks pretty darn strong. Let's get to the chart. Where are we horizontally, vertically, and diagonally? Horizontally is based on time—time of the year, time of the week. Remember, we trade Monday, Tuesday, then Powell and JOLTS, two days off, and then NFP. It's probably going to be a low-volume week, which means the market might not go down. We've had a well-established trend line; we've tested it and bounced. This 5510 number has been the strongest level for a long time. For the last 9 days, we've had only a 24-point spread on ES, which is unbelievable. Keep the value area high, POC, and value area low on your chart. Let's get more granular on a 15-minute chart. The strong levels did not need updating, so 5510 is still the area. I had a long setting at 5509, but it didn't get me in. I'm okay with missing a greedy entry because there's always another high-probability trade around the corner. So, we'll keep monitoring. Remember, we are in the middle of a trading range, so be cautious. If we take out the high and get a bounce level to go north, I will take that opportunity. Above this high, all-time highs are possible due to low volume, Powell, JOLTS, and non-farm payroll. Be careful out there, boys. Tomorrow morning, we will be live streaming. Good luck today. Trade green, my friends. To learn more about our group, go to micrtrader.com.