Fri AM Briefing Preparing For Our Emini MIcros Futrues Trading Room 11/15/2024

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



Friday's trading outlook highlights the unpredictable nature of Opex Fridays, urging traders to approach the day with caution or to abstain altogether. Key levels, such as the bull/bear line and overnight halfback, could signal shifts in market control. Yesterday’s session underscored bearish dominance, with the market breaching critical support levels, while today’s strategy advises patience and precision in identifying entry points. Traders are encouraged to reflect on gratitude to maintain a positive mindset amidst volatile conditions. RESOURCES:
            
▶️ Free "Futures Foundations Course"             
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES and MES Futures Traders

Good Morning and Happy Friday!

Today is Friday, November 15th—also Opex Friday, a significant day for futures trading. As we continue with a theme of thankfulness this month, let’s reflect on today's motivational quote:

"Rejoice always, pray continually, give thanks in all circumstances; for this is God’s will for you in Christ Jesus."

This mindset applies not only to life but also to trading. It’s easy to remain thankful and positive during winning streaks, but true resilience comes when challenges arise. Surround yourself with a supportive community, whether it’s family, church, or a trading group, to help you maintain this perspective.

Trade Journal Tip: Start with Thankfulness

A practical idea is to include a “thankfulness list” in your trading journal. Begin each journal entry by noting what you’re grateful for—it can provide a positive mindset for your trading day.

Today’s Market Outlook: Opex Friday

Today’s trading advice centers around the importance of understanding market trends:

  • Market Conditions: It’s Opex Friday, notorious for its unpredictable and "squirrely" price actions. My advice? Avoid trading one hour before the market opens to sidestep retail sell-offs and volatile movements.
  • Friday Rules: Protect your weekly gains by trading with smaller loss limits. Consider using a portion of weekly profits for trades or avoid trading altogether on high-risk days like today.

Weekly Recap and Observations

Yesterday’s Review:

In Thursday's session, we saw the market lose a critical strong range, as predicted in the AM briefing. My analysis highlighted a downward move toward a key support level, which played out as expected. However, the short-covering rally I anticipated never materialized, signaling bearish control.

Key Chart Insights:

  • Bull/Bear Line: The market dipped below this significant marker, entering a “Watch Out Below” zone.
  • Parabolic Move: The ES experienced steep downward trends, confirming bearish dominance. Be cautious shorting initial moves and wait for stronger setups.

Predictions and Strategy

Key Trading Levels:

  • Overnight Halfback: Currently at 5325; reclaiming this level and the bull/bear line at 57 could signal a bullish reversal.
  • Next Support Level: A significant support zone lies at 5840-5850.

Trading Plan:

  • Focus on identifying when market control shifts between bulls and bears.
  • Avoid longing unless critical levels, such as the bull/bear line, are reclaimed.
  • For shorts, wait for confirmation and avoid the first short entry—aim for the second.

Final Thoughts

Today’s Opex Friday presents challenges, but with discipline and careful analysis, you can navigate the volatility. Remember, this isn’t trading advice—just one perspective based on experience. Stay green, my friends, and trade wisely!

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