Tue ES MES Micros Technical Analysis 12/10/2024

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



Futures traders are eyeing the market cautiously ahead of tomorrow's critical CPI release, with expectations of heightened volatility. Today’s analysis indicates a bullish lean, although discipline and precision remain paramount. Yesterday’s trading highlighted the importance of patience and structured management, with group members achieving notable 10-point trades. As the week progresses, contract rollovers and upcoming FOMC decisions are likely to add to the market’s complexity. 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, traders! Happy Tuesday, December 10th. Tomorrow marks CPI day, so today might be a rest day—or it could surprise us with a strong trend. If the market moves, don't resist it; just go with the flow.

Today's Scripture

"In the beginning was the Word, and the Word was with God, and the Word was God."
The Word equals Jesus, who became flesh and dwelt among us, full of grace and truth. (John 1:1)
This scripture is beautifully written, and my wife and I are studying the book of John this month. It’s a great way to reflect during December.

Trading Tip of the Day

What do you control?

  • Size - Adjust position size appropriately.
  • Location - Decide whether to enter at the 3-minute level, the greedier 1-minute level, or a breakout point.
  • Management - Define your response if the trade goes against or in favor of you. Follow a structured plan, just as a pilot does in emergencies. Standardizing your procedures is crucial for consistent results.

Market Insights: News Drivers

Today's key drivers include OPEX meetings. However, tomorrow’s CPI will dominate focus. Given the contract rollover week and upcoming FOMC and OPEX, expect volatile and potentially unpredictable price action. Trade cautiously and avoid forcing trades.

Yesterday’s Review

The group had an excellent day yesterday, with several traders achieving 10-point wins, both long and short. Key takeaways:

  • Patience is key. Waiting for the right setup often pays off.
  • Discipline matters. Traders like Caleb adhered to their plans, exiting trades at predetermined times, avoiding greed.
  • The bull-bear line served as a pivotal point, with trades bouncing off it repeatedly.
  • Observing index confluence helped make smarter decisions, such as avoiding low-probability trades.

Today’s Analysis

The bull-bear line remains a critical level, showing significant activity overnight. Markets are above VWAP and holding within the lower distribution, but indices like ES have retraced overnight liquidity, suggesting a cautious bullish bias for now.

Keep your charts clean and structured:

  • Mark key levels like RTH high/low, halfbacks, and significant trendlines.
  • Stay engaged with your charts as trading is both art and science.

If the market trends upward, look for potential longs around meaningful levels with confluence. On the flip side, watch for signs of exhaustion for potential shorts.

Bull-Bear Scorecard

  • Overnight Trend Line: Bulls
  • Session Stacking: Bears
  • Above VWAP: Bulls
  • Overnight Halfback: Bulls
  • Yesterday's Range: Bulls
  • Index Confluence: Bulls
  • Liquidation Risk: Bulls

Final Notes

Stay patient, wait for the right setups, and manage your trades with precision. Trading is a journey of discipline and adaptability. Remember, hours of boredom often precede moments of sheer excitement.

MORE INFORMATION:

Terms To Know for Futures Traders

ES Futures, MES Futures, CPI day, contract rollover, FOMC, VWAP, bull-bear line, liquidity, trendline, fair value gap, session stacking, market confluence, breakout levels, risk management, trading discipline, volatility, patience, trade management system, price action.



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