Mon AM Briefing Preparing For Our Emini Trading Room 11/04/2024

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



The ES & MES Futures Trading Room begins November with an eye toward wisdom and caution amid high market volatility. As traders brace for a “Level 10” week, driven by Non-Farm Payroll impacts, upcoming election results, and the FOMC meeting, the group focuses on patience and strategic restraint. Members are reminded of available resources, including archived briefings and a free Foundations Course, to support disciplined trading. The emphasis remains on waiting for high-probability trades as volatility surges, potentially driving significant moves across indices. 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 Monday, November 4th! It’s the start of a new month, with just two months left in the year. Thanksgiving is right around the corner; I can practically smell the turkey and pecan pie already. Let’s get into our week with a guiding principle: if anyone lacks wisdom, let them ask God, who gives generously without finding fault. As we face this challenging trading week filled with uncertainties, let’s remember to seek wisdom.

AM Briefing #296

We’re approaching the 300th AM Briefing milestone, which reinforces our collective effort to trade better together. In the ES & MES Futures Trading Room, there’s always a high-probability trade opportunity nearby. This concept is fundamental as it teaches traders patience—another trade is always just around the corner, so wait for your setup. Here, we often see setups 6-12 minutes before they happen.

Tip of the Day: Uncertainty on Steroids

This week is a true "Level 10" week for traders. Non-Farm Payroll (NFP) has already occurred, and we’re starting Monday in the NFP “hangover.” Tomorrow’s election, Thursday’s FOMC announcement, and next week’s CPI release are just some of the major news drivers. We could potentially see massive swings—500-point moves are possible. When volatility spikes like this, sometimes the best approach is to stay out of the way. Trading may resume more normally in a couple of weeks. Remember, you don’t have to trade every day or even every week. Using the “one-micro, one-loss” rule daily could serve well in these conditions.

Reminders & Market Commentary

Every Monday, I like to remind everyone of our resources. There’s an archive of past AM briefings on MicrosTrader.com, so if you’re considering joining our group, you can review previous insights and outcomes. I encourage new members to earn their badges and check out our free Foundations Course, packed with essential information for new futures traders, particularly those interested in prop trading.

This is a week where "levels" on charts may not hold much weight due to external forces. If you take a loss, don’t make it worse; simply exit and move on. This approach can prevent small losses from becoming more significant setbacks. Additionally, I’m offering a free Zoom pass this November for those who register for the free Foundations Course.

Schedule & Mental Training

Today’s schedule includes mental training 30 minutes before the market opens, where we focus on the mantra "The Best Loser Wins." Ten minutes before the market opens, we’ll review our daily reminders. Ideally, by this time, we’ll be managing trades or in a solid position for the day.

ES Chart – Current Positioning

In last night's RTH session, we saw tightening in the market after gapping down. I had hoped for a move to 29 before a pullback, but instead, we saw London liquidity taken without a full pullback. One of our traders managed a nice 10-point trade. Our group regularly discusses these moves in Discord, so everyone stays informed.

Today’s Bull/Bear Line & Targets

Currently, we’re within Friday’s range with upward-slanting VWAPs. The halfback line looks challenging today, and my intraday bull/bear line is at a higher timeframe. Targets include two RTH highs above us, with multiple levels below as potential downside grabs.

Election Highs?

Finally, with the election here, it wouldn’t be surprising to see all-time highs approached again. While I don’t make specific predictions, there’s a significant probability of this outcome. But remember, nothing is guaranteed. Maintain perspective and stay focused on each setup as it comes.

Stay Green, my friends! For more information about our group, visit MicrosTrader.com.

MORE INFORMATION:

Keywords:

ES Futures, MES Futures, trading room, high probability trade, Non-Farm Payroll, FOMC, CPI release, volatility, micro trading, prop trading, Futures Foundations, mental training, VWAP, RTH session, intraday trading, election highs, liquidity, market commentary, bull/bear line, ES chart analysis, AM briefing.

SUMMARY:

  • ✅ New Month Kickoff: This week begins with a focus on wisdom, patience, and preparation amid high uncertainty.
  • ✅ AM Briefing Milestone: Approaching briefing #300, the group reaffirms the importance of collective learning and high-probability trades.
  • ✅ News Drivers and Volatility: Non-Farm Payroll, election day, and FOMC announcement are expected to drive significant market swings.
  • ✅ Market Commentary & Resources: Members are reminded of the free Foundations Course, archived AM briefings, and the importance of patience this week.
  • ✅ Trading Levels and Strategy: With potential high volatility, traders are advised to keep positions small and maintain discipline amidst unpredictable market moves.


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