ES & MES Futures Trading – Key Levels & Technical Tips Monday

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



MicrosTrader’s Monday briefing emphasized character development as a foundational trait for consistent futures trading success. Updates to their journaling software, including Discord integration and a live Trade Coach feature, enhance community engagement and trade documentation. This week’s market outlook highlights key levels and anticipates potential volatility from Wednesday’s FOMC meeting. Despite current price consolidation, bullish momentum persists, anchored around daily VWAP levels. RESOURCES:
            
▶️ Free "Futures Foundations Course"             
▶️ Membership Options      
▶️Youtube Community Updates


TRANSCRIPT:

Morning Briefing – Monday, May 5th | Episode #420

Good morning, everyone! Welcome to Monday, May 5th, and Episode #420 — a special day for those celebrating Cinco de Mayo or 4/20.

Welcome to the AM Briefing, brought to you by MicrosTrader.com — where together, we trade better. We're an ES/MES futures trading room, and if you're looking for a group using a high-probability trading system, come check us out.

Weekly Scripture

“For we are His creation, created in Christ Jesus for good works, which God prepared ahead of time so that we should walk in them.”
– Ephesians 2:10

Tip of the Day: Addressing Character Defects

We all have character defects — you're not the exception. These must be identified and subdued. Success as a trader requires personal growth, and these defects must submit to the process.

Tackle these issues through:

  • Prayer
  • Meditation
  • Journaling

Your temptations — whether 4/20, alcohol, drugs, gambling, or trading out of boredom — need to be managed. Meditation is not only a tool but also the name of our journaling software.

Economic Drivers This Week

This week’s calendar is light until Friday when multiple FOMC speakers are scheduled. Key days to watch:

  • Monday: Green trading day. Watch ISM Services 30 minutes post-open.
  • Tuesday: Green AM; weak PM session.
  • Wednesday: Morning is tradable. Afternoon impacted by FOMC – “Trap the Trader” mode engaged.

Journaling Software Updates

Significant updates were released this weekend for the TraderMeditations.com platform:

  1. Trade Coach Feature is live.
  2. Enhanced user interface with a more refined design.
  3. Discord Integration:
    • Journals can be posted automatically to Discord if selected.
    • Option to share trade notes, a single chart, errors, lessons, P&L, etc.

Trade journals remain private by default, but users now have the option to make them public. You can select either the full journal or light journal, with customizable fields.

Market Recap & Technical Charting

Reviewing the daily timeframe, we broke a significant trend line and retested it before launching upward. Notable levels include:

  • Daily Anchored VWAP around 5720
  • Origin level around 5475, acting as a solid long setup
  • Weekly high and low levels
  • Areas that were not tested during RTH

These levels suggest potential choppy trading unless there's a surprise during the FOMC announcement.

On shorter timeframes (e.g., 30-min charts), we updated anchored VWAP levels and reaffirmed key support/resistance zones.

Key takeaways:

  • All markets under VWAP; lower distribution
  • Bulls remain in control; market reacting well to the VWAP test
  • A potential long setup if we revisit origin levels

Trade Plan & Final Thoughts

Early trade ideas:

  • Wait for liquidity grabs or formation of a backside to define direction.
  • Watch out for market gaps and non-RTH tested levels for possible reactions.

Mental training begins at the top of the hour for our members. Continue your pre-flight checklist, and I’ll see you live soon.

Good luck trading today — stay green, my friends!

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