Tue AM Briefing Preparing For Our Emini Trading Room 10/29/2024

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



Today’s futures trading session opens with anticipation, as traders prepare for the JOLTS Jobs Report and a wave of corporate earnings from companies like AMD and Google. The focus remains on NFP strategies for the week, with a strong emphasis on planning and discipline. Monday saw a tightening market, with insiders forecasting a major move as key levels continue to be tested. As next week promises even more volatility, thanks to elections and the FOMC, traders are bracing for a wild ride. RESOURCES:
            
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good morning, everyone, and happy Tuesday, October 29th! Today we will be going live on YouTube, 15 minutes before the market opens. Feel free to join us, or grab a Zoom pass to check us out any day of the week. You can even grab a week-long Zoom pass to join us live for five consecutive days to ensure you don’t miss a thing.

Today's Quote

"If you can," said Jesus, "everything is possible for the one who believes."

Let's dive into today's session!

AM Briefing

Welcome to the AM briefing, brought to you by MicrosTrader.com. Together, we trade better. We're in the ES Futures Trading Room, and as always, there's another high-probability trade around the corner. All you have to do is wait.

This is episode number 292, and we’re closing in on 300! Now, what's your plan for NFP this week? Have you planned out your week? Are you going to trade Thursday? Friday? Have you thought about how many losses you’re willing to tolerate? This isn’t just a cute "tip of the day"—it’s serious. Share your plan on the trading floor if you’re in my group, and we’ll help keep you accountable.

Schedule for Today

Today, we’ll be live 15 minutes before the market opens. First, we’ll start with our mental training session at 9:00 AM, followed by rebooting my computer and going live on YouTube. We’ll do a reminder session 10 minutes before the market opens, and by 11:00 AM Eastern, I’ll either be managing a runner or finishing up for the day, depending on the price action.

News Drivers

Today, we have the JOLTS Jobs Report 30 minutes after the market opens, which could give the market a needed jolt. Additionally, earnings for companies like AMD and Google are expected after the bell today, making this a Level 10 week with eyes on Friday.

Next week, we have both the elections and the FOMC, so get ready for a couple of heavy weeks.

Yesterday Review

Looking back, we had a massive gap at the market open—one of the largest in recent memory. Before the market opened, I published our strong levels for the group, which included a strong range that I wanted to ensure was on everyone’s charts. I created an indicator that adds these important levels to members’ charts, making it easier for us all to stay on the same page.

Key Trades

Last night, there was a beautiful 40-point move following the close. One of my members, Scott, took a short at a key level, and it paid off handsomely. We hit my target of 58.50 in the overnight session almost perfectly, which was called out in advance.

Yesterday was largely an inside day, with the market tightening up and coiling for a bigger move. Today, we're watching for another significant move, especially after hitting the 58.50 level.

ES Chart - Where Are We At?

We’ve seen the market touch critical levels with near perfection. For instance, we hit the strong level at 58.50 in the overnight session, and we're looking for further price action to potentially target the 45.25 and 40.75 levels.

Additional Thoughts

Make sure your charts are updated with the most recent levels. If you're not in my group but joining us live on Zoom, you'll get to see these updates in real-time. As always, if you haven’t done the free Foundations Course yet, I encourage you to check it out on the MicrosTrader.com website.

Finally, we’ll see what happens as price moves through these levels, and whether we get that big move we’ve been anticipating.

Closing Remarks

I posted several insights on our trading floor last night about how we knew when to trade and what to expect. If you're a member, please check that out and give me some feedback.

Let’s keep an eye on the indices today. We're all currently under the VWAP, and we’ll see how things unfold during the live session. I’m skipping the bull-bear review for now, but I wish you all good luck trading today! See you live 15 minutes before the market opens, and 30 minutes before if you're joining us for mental training.

Stay green, my friends, and to learn more about our group, visit MicrosTrader.com.

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