Tue AM Briefing Preparing For Our Emini Trading Room 09/17/2024

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:

Welcome, ES MES Futures Traders! Good morning, everybody, and happy Tuesday! Today is September 17th, and it's contract rollover day. Let’s start the day with a quote from Proverbs: "A cheerful heart is good medicine, but a crushed spirit dries up the bones." Have a cheerful heart—do not allow yourself to become crushed in the market. We're in a level 10 week all week. Monday and Tuesday are the only two somewhat tradable days in a level 10 week. Wednesday morning is usually okay, but the rest of the week will be marked with red folder events. Adjust your strategy accordingly and don’t let it crush your spirit. Remember, it will dry up your bones. Trade small if at all. Welcome to the AM briefing, number 262. Together, we trade better. We are an ES MES Futures trading room with a very solid system that will keep you safe if you let it. Tip of the Day: Let the system keep you safe. It will do so if you follow it. Recently, one of our members said, "If it wasn’t for this system, I would have gotten crushed today. I would have had losses." The truth is, our system won’t give you trades if you follow it. It's when you start prediction trading or think you know where the market is going that things go awry. Even if you don’t get as many trades as you want—so what? Fight to live another day. There are timestamps and charts below, as well as levels. If you’re new, earn your badges. If you’d like to check us out, grab a Zoom pass. I also updated the essentials indicator last night with a small tweak, which we’ll discuss on Zoom. We talked about it yesterday, but I’ve published it now and we’ll go over it again today. The strong levels have been updated, with the letter “Z” behind them to signify the Z contract adjustment. If you appreciate what we do here, it costs you nothing to hit the like button, subscribe, or leave a comment. Let me know you’re there and value our work! News Drivers: Today, being Tuesday, we have retail sales to watch. But the real eyes are on tomorrow's FOMC meeting, triple witching at the end of the week, and OPEX. Today is rollover day. I’ll show you the volume on the contracts in just a minute. The expected move is 96 points, so be careful out there. Yesterday's Review: Looking at the main chart, here’s the estimated volume for the September and December contracts. As you can see, the December contract has now rolled to more volume. The prudent thing to do is to trade the Z contract. One thing I’m particularly happy about from yesterday is the feedback from a newer member. He said, "I really appreciate the days when you give play-by-play during the early part of the session. It keeps me from trading stupid." We’re very good at reading price action, keeping members safe, and providing insights like, "If you’re going to take this trade, consider that I wouldn’t because of these reasons." That feedback is valuable, and I’m grateful when members point it out. If you’re looking for an ES MES Futures trading group that helps keep you on size, safe, and into profitable trades, check us out at micrtrader.com. Z Contract Adjustments: Now, let’s dive into the Z contract adjustments. First, turn off the back adjust button. Yesterday’s levels will shift upward when you hit the back adjust button. I went through each strong level and realigned them. Here’s how you can move your session levels. Let’s say we had a level marked here. After turning on the back adjust, move that level to its new position. You can adjust multiple levels this way by grouping them and moving the folder, ensuring the levels align with the adjusted Z contract. ES Chart Analysis: The market is running like a bat out of hell today. What do you do? Stay out of the way! We’re coming into a large hourly/daily trendline. Adjust your trendlines accordingly. I recommend waiting until something new happens, either staying long or flat. Indices: Looking at the other indices, Dow is making new all-time highs, Russell is strong, and bulls are in control. If you want to short, it’s risky—like whizzing on an electric fence. For now, the safe options are either being long or flat. Bull-Bear Scorecard: Bulls are in control. The overnight trendline, session stacking, VWAP, overnight halfback, and yesterday’s range all point to bulls. The only possible risk for a liquidation break goes to the bears, but for now, it’s clear the bulls are dominating. That’s it for today! Can’t wait to see my traders live on Zoom. Stay green, my friends! To learn more about our group, visit microstrader.com.



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