Thu AM Briefing Preparing For Our Emini MIcros Futrues Trading Room 11/14/2024

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



In today’s session, traders focused on maintaining gratitude while navigating the complex landscape of the ES MES futures market. Following recent CPI data, market conditions remain choppy, requiring strategic discipline and a focus on carefully defined trading zones. Key insights shared include the importance of risk management, recognizing market euphoria, and maintaining consistency in a potentially volatile environment. For traders seeking deeper insights, MicrosTrader.com offers resources and a supportive 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! Let's continue our November theme of thankfulness, giving thanks for all things to God the Father in the name of our Lord Jesus Christ. I’m reminded of the beauty of watercolor painting—a craft I’ve enjoyed in the past and am considering revisiting as the holidays approach. Watercolors are especially charming for making gift tags, adding a personal touch to presents.

AM Briefing: Session 304

Welcome to AM Briefing #304, brought to you by MicrosTrader.com, where we aim to trade better together in the ES MES Futures Trading Room. With a focus on micros and the discipline of trading one to three contracts with precision, this approach can have a transformative impact on your trading journey.

Tip of the Day

Reflect on the lessons learned from previous trading days. Yesterday, following the CPI announcement, I noted that if you didn’t like the price action's personality, it was better to step aside. It was essential to enter early yesterday; otherwise, opportunities were quickly gone. I took my three trades and wrapped up. In general, if the price action isn’t aligning with your approach, sometimes walking away is best.

News Drivers

Today is the day after CPI, and we’re on the eve of options expiration Friday with both PPI data and Jerome Powell’s commentary coming up—a potent one-two punch. I recommend caution when trading near options expiration and especially on the day itself. With the CPI release, we’ve entered a “chop zone” that may persist, possibly setting up for a large market move as normal trading patterns resume. Be cautious with additional external drivers, like political news or economic data releases, which could influence market behavior.

Yesterday’s Review

Reflecting on yesterday, we saw an initial CPI-driven rally. Although I had hoped for a downward movement to capture some buying opportunities, the setup was clear for those watching for a precise entry. After the initial moves, I took three trades, each with tight stops, and wrapped up for the day once the trades were small gains or break-evens. John, a member of our group, had a fantastic trade, capturing 20 points—kudos to him for a well-executed strategy!

ES Chart Overview: Where Are We At?

Looking at the overnight movements, we’ve seen price respect our established strong levels. We continue to hover around the new weekly opening gap, which has provided significant insight into range-bound trading for the week. Price has danced around these levels, giving traders clear signals for long and short setups within this structure.

Understanding the Market Context

We’re in a market phase defined by euphoria, highlighted by upward momentum in both traditional indices and assets like Bitcoin. Recognizing this market sentiment is crucial; countering a euphoric trend can be risky. However, while maintaining a perspective on the broader market trend, always respect established trading levels and remain disciplined in executing trades.

Final Thoughts

The market is in an intriguing phase, and while I anticipate higher moves, patience is key. For those interested in joining our community, check out the free Foundations Course on MicrosTrader.com to gain insights into our approach. Stay green, my friends, and remember that trading success comes with consistency and disciplined risk management.

MORE INFORMATION:

Website: MicrosTrader.com
YouTube: MicrosTrader YouTube Channel
Free Foundations Course: Foundations Course

SUMMARY:

  • ✅ November Theme of Thankfulness: Emphasizing gratitude and the art of giving, reflecting on personal experiences and appreciation for simple joys like watercolor.
  • ✅ AM Briefing Overview: Discussion of the session with ES MES Futures, highlighting a strategic approach to trading micros and trading room community insights.
  • ✅ Yesterday’s Market Review: An analysis of the CPI-influenced market behavior, with a focus on precise trading setups and disciplined entries.
  • ✅ Chart Analysis and Levels: Insight into the current range-bound market with key levels established around the new weekly opening gap, providing trading signals for long and short positions.
  • ✅ Risk Management and Trading Discipline: Emphasis on controlled risk-taking, adhering to stop-losses, and understanding broader market sentiment to enhance trading effectiveness.


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