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

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



On November 11, ES and MES traders gathered for AM Briefing #301, emphasizing patience and calm in approaching high-probability trades amid a busy trading week. A reading from Psalm 100 set a reflective tone, while discussions highlighted key economic events, including CPI and PPI reports that could spur market volatility. Traders were reminded to wait for three conditions before shorting an uptrend and to focus on identifying reliable trend lines, maintaining a “long or flat” stance. For live trading insights, participants were encouraged to join the MicrosTrader community. 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, everyone, and happy Monday, November 11th. Here’s today's inspirational quote—something my wife and I read last week. I shared it with my group, and I thought it would be fitting to start with it today. This month, our Bible study theme is Thanksgiving, and the reading is Psalm 100:

Psalm 100:

"Make a joyful noise to the Lord, all the earth. Serve the Lord with gladness; come into His presence with singing. Know that the Lord, He is God; it is He who made us, and we are His. We are His people and the sheep of His pasture. Enter His gates with thanksgiving, and His courts with praise. Give thanks to Him; bless His name. For the Lord is good; His steadfast love endures forever, and His faithfulness to all generations."

These five verses in Psalm 100 are worth marking as a source of encouragement. Now, let's dive into today’s session.

AM Briefing #301

Welcome to the AM Briefing #301—where we operate on the belief that trading together strengthens our strategies. In our ES and MES futures trading room, we emphasize that there's always a high-probability trade around the corner, provided we stay patient. Our room helps traders develop patience and calmness in approaching trades.

Monday Reminders

  • Updated Strong Levels: Our strong levels were updated last night. Check that your version reflects today’s date, 11.11.
  • Briefing Archive: There's an archive of AM briefings available in the description if you want to review past discussions. Timestamps are included.
  • Foundation Course: Before joining our group, consider exploring our free Foundations Course at MicrosTrader.com. This month’s sign-up includes a free Zoom pass, and additional passes are available for purchase if needed.

If you find value in what we do, please like, subscribe, and share with others who might benefit.

Tip of the Day

Today’s tip is the same as Friday’s: understand when to short an uptrend. One of the riskiest moves is attempting to short during short-covering at all-time highs. Effectively, you’re "calling a top." Determine precisely the conditions that must be met before considering this move—three conditions, not one or two. Know when you’re already long, or stay flat rather than forcing short positions.

News Drivers for the Week

  • Bank Holiday: Today’s a bank holiday, and historically it’s not an ideal day for trading.
  • Upcoming Events: We have FOMC speakers throughout the week, CPI on Wednesday, PPI on Thursday, and retail sales on Friday. This week's schedule features significant events, with markets currently at all-time highs. Approach this week carefully, especially as CPI releases can provoke large moves.

Schedule and Mental Preparation

  • Mental Training: We’re starting “Thinking in Bets” by Annie Duke today, recommended by an experienced ES trader. Duke, a professional poker player, offers insights on betting strategies that align with Mark Douglas's trading psychology principles.

Chart Analysis: Where Are We?

We’re continuing an upward trend, and for those following our chart guidance, the play remains "long or flat." Keep an eye on daily trend lines and potential warning shots to bulls, particularly around Friday’s half-back level of 2250, which we consider today’s initial bull-bear line.

In the overnight session, the trend remains bullish, with the play at "long or flat." We’re making new all-time highs, and while minor pullbacks may appear, it’s essential not to get overly enthusiastic about these short-lived movements. Until there’s a close under a daily low, bulls remain in control. In the event of a close below the low, the next phase would be to assess balance rather than immediately shorting.

Closing Thoughts

Good luck today, and as always, approach the charts mindfully. For real-time commentary on ES futures, consider joining us at MicrosTrader.com. Stay green, and if you want to learn more about our group, visit MicrosTrader.com.

MORE INFORMATION:

SUMMARY:

  • ✅ Inspirational Quote: Today’s session began with Psalm 100, emphasizing gratitude and joy.
  • ✅ AM Briefing #301: A reminder of patience and calmness in trading with updated levels and briefing archives.
  • ✅ Tip of the Day: Identify three conditions for safely shorting an uptrend, especially during short-covering.
  • ✅ News Drivers for the Week: Significant events include CPI, PPI, and retail sales, suggesting high volatility.
  • ✅ Chart Analysis: The play remains "long or flat" with warning signals tied to trend lines and daily lows.


ADDITIONAL LINKS:





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