Wed AM Briefing Preparing For Our Emini Trading Room 10/30/2024

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



Wednesday’s futures trading briefing for ES MES highlighted a high-resistance trading environment as the market awaits clarity amid upcoming non-farm payrolls, the election, and FOMC announcements. Traders were urged to avoid trading in the middle of ranges, focusing on key levels for better trade setups. A new Foundations Course launched with positive feedback, offering free Zoom passes for participants. Yesterday’s market review provided insights on successful strategies that capitalized on high-probability trades in a challenging market environment. RESOURCES:
            
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good morning, everyone! Welcome to the AM briefing for Wednesday, October 30th. Just one more day left in the month, and next week, we have big events on the horizon, including the election and the FOMC storm. Let's dive into today's briefing.

Today's Quote: New Beginnings

I searched for a quote today, as I often do, and I found one about new beginnings. It's a Bible verse that says: "Therefore, if anyone is in Christ, he is a new creation; the old has passed away, behold the new has come." This serves as a reminder that every day brings new opportunities.

Briefing Number 293

Welcome to the 293rd AM briefing! We are an ES MES Futures Trading room, focusing on micros. It's amazing what you can achieve with just one to three micros. All you need is consistency, patience, and the understanding that together, we trade better. There is always another high-probability trade around the corner.

Tip of the Day: High Resistance Environment

If you haven't noticed, we are currently in a high-resistance trading environment. Every candle is painting back and forth with very little separation. Yesterday, we saw a surprising set of single prints, but overall, the market is holding its breath, waiting for clarity. Next week brings uncertainty with non-farm payrolls, the election, FOMC, and 38% of the S&P reporting earnings. Be cautious and trade carefully in this environment.

Foundations Course

Our Foundations Course has launched! Although I took a break from YouTube Live for October, I am offering a free Zoom pass as a bonus when you register for the Foundations Course. The feedback from my current members has been excellent, and I hope you enjoy it as well.

Daily Schedule

Our daily schedule will remain consistent. I posted on the trading floor 30 minutes before the market opens. We’ll do 20 minutes of mental training, followed by 10 minutes of daily reminders. By 11:00 AM Eastern, either manage your runner or be done for the day—it's up to you! For more details, check out our schedule on MicrosTrader.com.

News Drivers

Today's news drivers include a few red folder events before the market opens. However, we won't be live for these events. Friday is the candle day, and we'll be live an hour before the market opens. Today is likely the last green trading day of the week, with the day before non-farm payroll being a day to trade cautiously, if at all. Remember, one bad trade can make it a "one loser, you're done" kind of day.

Yesterday's Review

Yesterday’s briefing called for a likely movement to a strong range, and we saw exactly that. One trader, John, took a short and rode it down, while another trader, Caleb, executed a long trade and added to his winning position, doing exceptionally well. I mapped out trades and guided traders through various scenarios, emphasizing the importance of waiting for the right trade setup.

ES Chart: Where Are We At?

Overnight, we saw a gap up, likely due to earnings reports from AMD and Google. We are currently stuck in a strong range. The London market is within the Asia session, which is unusual. We are in the middle of a large range, making it a waiting game. The best trades come from trading at the range's extremes, not the middle. Today, the bull-bear line is around 6750, and if we drop below it, we may explore the bottom edge of the range.

Final Thoughts

I want to emphasize the importance of knowing where you are in the market. Having leadership and guidance can help you navigate uncertain times. As we move forward, avoid trading in the middle of the range and look for opportunities at the edges. Stay safe and trade wisely.

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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Keywords for Futures Day Traders:

futures trading, micros, MES, ES futures, non-farm payroll, election, FOMC, resistance environment, trading range, high-probability trade, single prints, market uncertainty, mental training, trading strategy, bull-bear line, liquidity, options plays

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SUMMARY:

  • ✅ New Beginnings Quote: Today's quote focused on new beginnings, highlighting the constant opportunity for growth and change in both life and trading.
  • ✅ High Resistance Trading Environment: The market is in a high-resistance environment, with a lack of clarity as traders await key events like non-farm payroll, the election, and FOMC announcements.
  • ✅ Foundations Course and Daily Schedule: A new Foundations Course has launched, and traders can now join with a free Zoom pass. Daily mental training and briefings are scheduled before the market opens.
  • ✅ Yesterday's Market Review: Yesterday saw accurate predictions of market movements, with traders capitalizing on both shorts and longs, navigating a strong range with excellent guidance.
  • ✅ Market Conditions and Outlook: Currently, the market is in a large range, with a bull-bear line set at 6750. Traders should be cautious and avoid trading in the middle of the range, focusing on extremes for better trade setups.


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