Mon ES MES Micros Technical Analysis 11/25/2024

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



The Thanksgiving trading week kicked off with optimism as traders focused on bounce setups amid thin market conditions. MicrosTrader emphasizes teamwork and high-probability trades, adapting to volatile conditions where long positions dominate the sentiment. A holiday-shortened week with key economic data on Wednesday could shape the market trajectory, with caution urged for countertraders. MicrosTrader encourages disciplined strategies, leveraging key levels and trading insights to navigate the unique challenges of this week's price action. 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! Happy Thanksgiving week and happy TradingView Sale Week, which we’ll discuss in a moment. Let’s begin with today’s verse from Psalms as we continue our Thanksgiving theme:

“I will praise God’s name in song and glorify Him with Thanksgiving.”

What a beautiful sentiment and a wonderful way to start the week!

AM Briefing #311: Together We Trade Better

Welcome to the AM Briefing #311, brought to you by MicrosTrader.com. Our philosophy is simple: Together, we trade better. We aim to capitalize on high-probability trades as a group, trading the same charts, seeking the same levels, and taking similar trades. Yet, trading styles can differ. For example, on Friday, Papy profited from longs, while Justin made his gains from shorts. It demonstrates that the market bounces both ways—it’s all about knowing where those bounces will happen.

We’re bounce traders, waiting patiently for optimal setups. Learn more about our approach at MicrosTrader.com.

Tip of the Day: Extend Your TradingView Subscription

Now is a great time to extend your TradingView subscription, with some of the best deals of the year. There are three plans available: Essential, Plus, and Premium. As a Premium subscriber, I’m planning to take advantage of this sale to maximize my subscription days. The sale lasts until Friday, so don’t miss out!

If you’ve benefited from these briefings, consider using my referral link—it supports the work I do.

Holiday Trading Schedule & Market Insights

This is a holiday-shortened trading week. Our group will take Thursday off for Thanksgiving, and Friday will likely be a no-trade day. Wednesday is expected to be eventful as several days of news, including PCE data, could impact the charts significantly.

We’ve already gapped up, and the market is pushing higher. Thin volume this week could lead to erratic price movements, making it tricky for counter traders. My advice is to avoid shorting on the first bounce; instead, wait for a clearer setup. Remember, patience is key in such market conditions.

Market Analysis: ES and Key Levels

  • Long-Term Trendline: This daily trendline has held firm over multiple sessions. Price has consistently respected it, making it a valuable tool for analysis.
  • Gap from Last Night: We saw a significant gap-up of 15 points. Price action has yet to explore this gap, so it remains a potential area of interest.
  • Thin Price Action: The market is currently exhibiting parabolic moves, favoring longs over counter trades. Traders should exercise caution, especially those looking to countertrend.

The overarching strategy for this week: Stay long or flat. Avoid countering strong price movement, as it could lead to unnecessary losses.

Closing Thoughts

To summarize, this week requires traders to stay disciplined, focus on strong setups, and avoid overtrading in a thin market. If you’d like to join our trading community, grab a Zoom pass at MicrosTrader.com.

Stay green, and have a wonderful Thanksgiving week!

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