Fri ES MES Micros Technical Analysis 11/22/2024

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



The ES MES Futures trading room emphasized discipline in its Friday morning briefing, urging traders to respect loss limits and prioritize risk management. Highlighting the week’s news, including PMI data and next week’s PCE release, the group suggested recharging during the Thanksgiving holiday for a strong December start. Key insights included analyzing gaps and balance ranges while preparing for potential market shifts. As always, traders were reminded to trade smart and stay green through perfect execution. RESOURCES:
            
▶️ Free "Futures Foundations Course"             
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good Morning and Happy Friday!

Today is Friday, November 22nd, and we’re kicking off with gratitude:

"Now we thank you, our God, and praise your glorious name."

As Thanksgiving approaches in six days, the season of turkey, pumpkin pie, pecan pie, and my personal favorite—sweet potato casserole—continues. Maybe next week, I’ll share my family’s recipe. It’s so good that whenever someone tries it, they always ask for it again. But fair warning, it’s a diabetic indulgence!

AM Briefing #310: Powered by MicrosTrader.com

Welcome to today’s session! At MicrosTrader.com, our motto is, "Together, we trade better." In our ES and MES trading room, we focus on high-probability trades and consistent improvement. Don’t forget to check out our Free Foundations Course and grab a free Zoom pass for an interactive experience.

Tip of the Day: Be a Professional Loser

As highlighted in yesterday's video, success in trading isn't about avoiding losses; it’s about managing them. Remember:

  • Our levels bounce 92% of the time.
  • The 8% of the time they don’t bounce, it’s your job to ensure it doesn’t blow up your account.

Proper management and discipline are key. Be a professional loser by limiting losses and protecting your capital. Never bet everything on one trade, and respect your daily loss limits. Successful traders focus on perfect discipline, even in tough weeks.

News Drivers

Today’s Events:

  • Flash Services PMI (15 minutes after market open)
  • Flash Manufacturing PMI & Revised Consumer Sentiment (30 minutes after market open)

Next Week’s Highlights:

  • Wednesday: PCE data before the Thanksgiving holiday.
  • Thursday: Market closed.
  • Friday: Potential group decision to take an extended 4-day weekend.

Recharging for December might be the prudent choice, but we’ll discuss this as a group.

Trading Lessons: The Importance of Daily Loss Limits

Yesterday, I tightened my daily loss limit, and it saved me from greater losses. Fridays are particularly critical:

  • Avoid giving back your weekly gains.
  • Trade with smaller daily loss limits to finish the week strong.
  • Never let one bad day or one bad trade wipe out your account.

Discipline is the difference between walking away as a winner or compounding losses unnecessarily.

Gaps, Ranges, and Scenarios

Yesterday’s trading action highlighted two key observations:

  1. We didn’t fill the gap below, leaving us with significant overhead resistance.
  2. Overnight, we returned to the top of our expanded balance range, bouncing above it.

What to watch for:

  • If we stay above the range, we could see continued bullish momentum.
  • If we drop below, expect a retest of lower levels, potentially targeting the 5836-5840 area.

Key Strategy: Stay mindful of these ranges and be prepared for market reactions at these levels. Always remember, this is not financial advice but my perspective as a trader.

Indices Overview

At the moment:

  • All indices are below their VWAP (Volume Weighted Average Price) with downward slants.
  • We are trading in the upper distribution, and the probability of retesting lower levels remains high.

Remember, stay disciplined and green!

Final Thoughts

If you enjoy our insights and find value in these sessions:

  • Like, comment, and share. It’s free!
  • Join us for more in-depth learning through our free Foundations Course.

MORE INFORMATION:



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