Thu AM Briefing Preparing For Our Emini Trading Room 10/17/2024

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



In today’s futures trading briefing, the trader emphasized staying emotionally balanced, sharing a personal experience about exiting a trade early. The 9550 level was once again highlighted as a key factor for successful trades. The team is preparing for potential volatility, with retail sales data expected to influence market highs. With OPEX looming, caution is advised, and traders should stay alert for opportunities. To learn more about the trading group, visit MicrosTrader.com. 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

Happy belated morning! I overslept a bit this morning, but I'm feeling great and ready to trade. Today's quote from the small book of Jude: "Keep yourselves in the love of God." That's such a simple yet profound instruction—keep yourselves in the love of God.

Briefing Introduction

Welcome to the AM Briefing brought to you by MicrosTrader.com, where together, we trade better. We are an ES MES Futures Trading room with a high-probability system. If you'd like to check us out, grab a Zoom pass or join us next Tuesday on YouTube live.

Tip of the Day

This week's lesson has been about understanding who's in control. I can't think of a better example of this being the consistent theme each day. As the leader of this trading room, it's something I always keep in mind when giving out levels. For instance, the key level from yesterday is still relevant today, though the date needs updating. That 9550 level will remain important. We'll discuss it more today.

A quick personal note: Yesterday, I was in an excellent trade position, but after receiving some personal news, I decided to move my stop and take a small profit, even though I could have had 50 points by this morning. It serves as a reminder that sometimes, it's better not to trade if you're emotionally off-balance.

Remember, next Tuesday, I'll be hosting a YouTube live session where you can join us and watch the trading action live. We'll schedule it about 10 minutes before the market opens for a reminder. We'll also be hopping on Zoom later than usual Thursday and Friday. I prefer to conserve my mental and emotional energy for actual trading and price action analysis rather than mental training towards the end of the week.

News Drivers

Today's news driver is that it's the day before OPEX, and things could get volatile. Retail sales data will be out 30 minutes from when I'm recording this, and we'll see if that pushes the market to new highs. I have a feeling it might.

Yesterday's Review

Before we dive into the chart analysis, I want to share a snippet from yesterday’s AM briefing. I mentioned that the 9550 level was key, and it turned out to be crucial. Looking at yesterday's performance, it was a wild day, but with our high-probability system, we managed to execute six trades successfully.

ES Chart – Where Are We At?

Yesterday, we had a very mechanical move to the halfback of the previous day's range. After that, it was all upward momentum, retracing the entire "vomit" move. We touched the IB high and nearly hit an all-time high. Keep in mind the 9550 level—don’t short above it. If you were long at the right time, there was significant profit to be made.

We're now just five points away from hitting an all-time high. With retail sales in play, be cautious. Can’t wait to see M Traders live—stay green, my friends!

To learn more about our group, visit MicrosTrader.com.

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader

MORE INFORMATION:

Watch the detailed analysis and level marking for ES MES on Rumble: Thursday AM Briefing - Mark These ES MES Levels (Rumble Video)

Read the full AM Briefing and insights on our blog: Thu AM Briefing - Preparing for Our Emini Trading Room (Microstrader Blog)

Visit our website for the latest Thursday AM Briefing: Thu AM Briefing - Preparing for Our Emini Trading Room (MicrosTrader.com)





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