Fri ES MES Micros Technical Analysis 12/27/2024

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



On Friday, December 27th, ES MES Futures traders convened for an insightful session. The day’s focus included reflections on trading opportunities and strategies, while emphasizing the importance of personal well-being, such as overcoming addiction through community support. Key discussions highlighted effective chart analysis, adherence to trading rules, and adapting to the end-of-year market conditions. Participants were reminded of the value of discipline and collaboration in achieving trading success. 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 everybody, and happy Friday, December 27th. Today's verse is from Proverbs 23:

"Do not look at wine when it is red, when it sparkles in the cup and goes down smoothly. In the end it bites like a serpent and stings like an adder."

If you are struggling with alcohol, please reach out to a local AA group. Each group is different, so visit several to find the right one for you. Remember, help is available, and there are people dedicated to your recovery. Follow their program, attend 90 meetings in 90 days, and find the support you need to overcome addiction. As Step 12 of their program states, they freely offer the gift they were given.

This is a public plea to anyone struggling with alcohol to start now, before the new year begins. Attend meetings, even on New Year's Day if necessary. Some groups hold meetings every hour. Getting started will be life-changing.

Welcome to the AM Briefing #332

Brought to you by MicrosTrader.com, where together we trade better. We are an ES MES Futures Trading room constantly working to improve, knowing there’s always another high-probability trade around the corner. We trade the same levels, charts, and trades with the same reasoning. If you’re looking for a trading group, check us out.

Tip of the Day

This is part two of the series: Were there more than two great entries yesterday? Review your charts with a fresh perspective. Creating an end-of-day chart is the fourth badge you earn in our group, as it helps reveal every trade that existed on your chart. Analyze and reflect on the opportunities you had.

News Drivers

Today is Friday, and Fridays come with special trading rules. If you're up, don’t risk giving it back. If you’re down, Fridays are not the day to recover. Consider trading a single micro or just paper trading. Next week brings a few drivers, such as:

  • Monday: Chicago PMI and Home Sales
  • Thursday: Unemployment Claims
  • Friday: ISM Manufacturing PMI

Yesterday’s Review

Yesterday turned out to be a fantastic trading day. Significant candles hit strong ranges and reacted well. Members of the group shared impressive outcomes, with one capturing a 20-pointer. The charts reflected a range-to-range movement that was very well aligned with our strong levels. Observing overnight behavior further confirmed the effectiveness of these levels.

ES Chart - Where Are We At?

Currently, the market is still inside the range. The overnight trend line is down, but we remain range-bound. We could move in either direction, but the key is to follow price action and adapt as levels develop. If the price reaches the strong range, monitor for a reaction and plan trades accordingly.

Bull Bear Scorecard

The overnight trend line is bearish. While session stacking slightly favors the Bulls, indicators like VWAP and the overnight halfback lean bearish. As of now, Bears are gradually gaining control. However, the market's direction will depend on whether we see a breakout beyond current ranges or a continuation within the range.

Stay Green

To learn more about our group, visit MicrosTrader.com.

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader
Free Foundations Course: https://academy.microstrader.com/foundations-dashboard/



ADDITIONAL LINKS:






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