Tue ES MES Micros Technical Analysis 12/24/2024

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



On Christmas Eve, traders are reminded to leave past setbacks behind and focus on new opportunities, inspired by Isaiah 43:18-19. MicrosTrader.com emphasized discipline with their trading mantra, “No level, no trade,” following a low-ATR session with limited opportunities. Yesterday’s review highlighted the importance of patience and collaboration, with successful trades discussed in their Discord group. With today’s half-day session, traders aim to observe price action to sharpen their strategies, making knowledge the cornerstone of future 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 and Merry Christmas Eve!

Today is Tuesday, December 24th, and we start our day with a quote about hope from Isaiah 43:18-19:

"Forget the things that happened in the past. Do not keep thinking about them. Focus on the new things I am doing."

As we approach the end of the year, this verse is a reminder to reflect on the past—acknowledge what we did well and identify areas for improvement—but not to dwell on it. Instead, our focus should shift to reinforcing positive habits and preparing for growth in the upcoming year.

AM Briefing #330 by MicrosTrader.com

Tip of the Day:

"No level, no trade. Period."

Yesterday’s trading day reinforced this principle. There were no clear levels for most of the afternoon, so there were no trades—end of story. Trading is about waiting for the right opportunities, much like a surfer waiting for the perfect wave. Sometimes conditions aren’t ideal, but patience is key.

Yesterday’s Review:

Yesterday, we highlighted a critical bull-bear line during our Zoom session, marking key levels of interest for shorts below and longs above. Here's a breakdown of key trades:

  • Long Trades: Entered twice, taking incremental profits at key levels.
  • Short Trade: Took a short near a strong level with minimal heat and secured gains before price rebounded.
  • Missed Opportunities: Post-session moves beyond trading hours presented potential longs, but timing kept us out.

Additionally:

  • We played the bounces well, especially around strong levels.
  • Some group members, like Caleb, executed trades collaboratively in the Discord group.

However, not all price action was tradable—disjointed movements and low ATR (Average True Range) led to untradeable conditions at times. ATR preferences remain:

  • Preferred ATR: 5 to 7 points.
  • High ATR (>8): Adjust position size or avoid trading altogether.

ES Chart Analysis:

We remain in an upper distribution zone, with price consistently taking out highs. Current indicators show:

  • Upward VWAP swings.
  • Flat to bullish conditions—certainly not bearish.

Today is a half trading day on the NYSE, so we’ll observe price action during the morning. If the first 30 minutes fail to produce at least 13-15 points of movement, we’ll close early and enjoy the holiday.

Final Thoughts:

Each trading day, whether active or observational, builds our database of market knowledge. By continuously studying ES price action in various conditions, we refine our strategies and enhance decision-making.

We wish all traders good luck and a productive session. Stay green, and remember: trading is a journey of discipline and growth. For more insights, join us live for mental training before the market opens.

Learn more about our group at: MicrosTrader.com.

MORE INFORMATION:

Keywords for Futures Day Traders:

ES futures, MES futures, VWAP, price action, bull-bear line, ATR, trading levels, micros contracts, E-mini trading, futures analysis, risk management, mental training, liquidity levels, market behavior, half-day trading.



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