Mon AM Briefing Preparing For Our Emini Trading Room 10/07/2024

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 and Happy Monday!

Good morning everyone, and happy Monday, October 7th. It's a day of remembrance, so let's get started.

Today's Scripture

"May the God of hope fill you with all joy and peace as you trust in Him, so that you may overflow with hope by the power of the Holy Spirit." This comes from Romans 15:18.

A Personal Note

I wanted to share something special from an email I received yesterday. One of our members told me, "George, your morning briefing is like a ministry." I certainly like to bring God into my life, and I feel it's something I need to share. The email went like this:

"I would like to tell you that I have also learned from you in another way. You helped me further enhance my dedication to reading the Bible every day after you talked about The Pilgrim's Progress. Now, I read the Bible daily and actively serve in my church, even as an usher. I believe I was meant to come across you as you guided me towards God, for which I am very grateful."

It was a beautiful message that really touched me. I am simply doing what I believe I am called to do.

Morning Briefing

Welcome to the AM Briefing number 276, brought to you by MicrosTrader.com. Together, we trade better. We are a cohesive ES MES Futures trading room with a high-probability trading system to help keep you disciplined each day.

Monday Reminders

Remember, there are timestamps below, and there is an archive of these AM briefings available on my website. When you join the group, make sure you earn your badges as part of the training process. Once you learn to draw the first level, submit your chart, and I'll provide feedback, whether it's written or through a private video.

Check us out by grabbing a Zoom pass for the day, week, or month. Also, tomorrow we are hosting a free YouTube live session. So, if you like what we do, consider subscribing and becoming a member.

Tip of the Day

Never exceed your daily loss limit. As we start this week, our goal is perfect discipline. We discussed this last Friday — perfect discipline should be the goal, not P&L. At the end of the week, we self-assess: were we green, yellow, or red in discipline? It's been a while since I've been able to put "green" down, but this week my goal is to finish green in terms of discipline. We constantly reinforce this within our group on Zoom and Discord.

News Drivers

There are no significant news drivers today, which is the day after the Non-Farm Payroll (NFP) report and the beginning of Consumer Price Index (CPI) week. Today is colored green for trading, meaning volatility should be manageable. Some traders might see today as a red day due to a lack of news drivers — news volatility can create tradable ranges. Monday through Wednesday should be stable for trading, with CPI and Federal Open Market Committee (FOMC) minutes coming later. Thursday and Friday will see level 10 red folder events, which require caution. We should also remember that today marks the anniversary of the October 7th attack on Israel.

ES Chart Update

Today's chart is labeled green. Overnight trading hit 6375, which is our level for caution with long positions below. We've established key trend lines and levels. There are still pools of liquidity below that price might grab before reaching all-time highs. Our goal is to follow price action and respond at the bounce levels accordingly.

Bull Bear Scorecard

  • Trend Lines: Bulls have the upper hand, as price is above key trend lines.
  • Session Stacking: Bulls are still leading.
  • VWAP: Bears control here, as we are below VWAP.
  • Overnight Halfback: Bears in control.
  • Indices and Range: We are still within Friday’s range, giving a slight edge to the bulls.

Today's bull-bear line is at 6375. If we drop below this level, we could see a strong sell-off. If we hold, longs are in play.

Final Thoughts

I look forward to trading live with all of you today. Have a fantastic day, stay disciplined, and remember — stay green, my friends!

More Information

Website: MicrosTrader.com
YouTube: MicrosTrader Channel





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