Mon AM Briefing Preparing For Our Emini Trading Room 10/28/2024

Preparing ES & NQ Traders
For Our Emini and Micros Futures Trading Room



Entering the final week of October, traders in the ES MES Futures market prepare for heightened volatility, driven by upcoming elections and key corporate earnings reports. The emphasis this week is on patience and discipline, with trading strategies revolving around bounce levels and high-probability trades. The week is labeled as a "Level 10" in terms of market impact, with the Non-Farm Payroll (NFP) report on Friday likely to be a major driver. Traders are encouraged to commit their plans, stay level-headed, and wait for the right setups to emerge. RESOURCES:
            
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good morning, everybody! We are entering the final week of October, and next week brings election fireworks that are on the horizon. Let's dive into today's session.

Thought of the Day

Today's verse is: "Commit to the Lord whatever you do, and He will establish your plans." Have you committed your trading to the Lord? It's probably not a bad idea. As we move forward into the week, remember: commit to the Lord whatever you do, and He will establish your plans.

AM Briefing #291

Welcome to the AM Briefing #291. I can't wait to hit the 300 mark in nine more briefings. We are an ES MES Futures Trading room where we trade together, and there's always another high-probability trade around the corner. Patience is key—the hardest part about trading is often the waiting, not the actual trading. Remember, "No level, no trade."

Tip of the Day

Last Friday, I talked about the news events for this week. Did you establish your trading plan? What are you trading this week? What days and times will you trade? Pre-plan your week, and you will be better prepared. We'll be live tomorrow on YouTube and Zoom. Of course, we're live on Zoom every morning, drawing lines on the ES chart and trading those lines.

Foundations Course Released

Just a reminder: the Foundations Course is now officially released. It's a free course, and you don't even need to register. However, if you do register, you'll receive some bonus items available only to registered students. There are time stamps located below if you decide to become a full member. You can earn your badges, grab a Zoom pass, and join us any day of the week. As a member, I will personally show you around our system.

Schedule

Today's schedule includes 30 minutes of mental training before the market opens and a reminder of the day at noon Eastern. At that time, we’ll either wrap up or be managing a runner, which can greatly boost your returns. If you're unfamiliar with making 10, 20, or even 50-point runners, you might want to check us out at MicrosTrader.com.

News Drivers

What a wild week! Around 38% of all S&P companies are reporting earnings, and it's the week before a heated election year. Meanwhile, the Middle East conflict seems to be calming down, and we have the Non-Farm Payroll (NFP) report on Friday. It's truly a "Level 10" week in the markets.

ES Chart Analysis

I didn’t get to a weekend chart update, as it’s the lowest-watched thing I do. However, let’s go over some key points for the week. We had a gap up last night, and it’s important to denote the gap from the close of one candle to the opening of another on your chart. With the election approaching, it's likely we’ll hit new all-time highs. However, it's critical to not prediction-trade; instead, we trade the bounce levels as they develop.

Trading the Levels

As we trade this week, remember to mark the following levels on your chart: RTH highs and lows, as well as single prints. Keep in mind that we're in a large 12-day balance. Understanding where you are in this balance is crucial for planning your trades.

Bull and Bear Scorecard

Currently, the bulls are in control, as evidenced by the upward slanting VWAP and several key indicators. The ES and NQ are both above the halfback and VWAP, signaling strong bullish momentum. The bulls have won across the board in the overnight trend, VWAP, and range.

Conclusion

In summary, this week is shaping up to be a pivotal one. Be patient, trade the levels, and remember: "No level, no trade."

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader
Free Foundations Course: https://academy.microstrader.com/foundations-dashboard/



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