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

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



In episode 422 of the AM Briefing, MicrosTrader underscores the volatility expected on FOMC day, emphasizing discipline over impulsive trading decisions. The live trading group prepares for strategic plays in the morning while avoiding afternoon trades due to market unpredictability. The team revisits Tuesday’s price action, highlighting accurate entries and caution during high-risk moves. Current market conditions offer no edge, reinforcing a wait-and-see approach until clearer opportunities arise. RESOURCES:
            
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TRANSCRIPT:

Good Morning, Traders!

Happy FOMC Day! It's Wednesday, May 7th, and this is episode number 422 of the AM Briefing, brought to you by MicrosTrader.com—where together, we trade better.

This Week's 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: Pride vs. Discipline

Today’s tip is about pride and discipline. Simply put: Take discipline over profit. Take discipline over your pride. Pride will tempt you to act against your trading plan, leading to undisciplined decisions. Stay grounded. Especially on FOMC days, pride can be costly.

Trap the Trader: FOMC Edition

That’s right—FOMC means it’s time for America's favorite game show: Trap the Trader!

Today's featured categories include:

  • Overleveraging
  • Revenge Trading
  • Blowing Accounts
  • Account Resets
  • FAFO (Figure Around, Find Out)

Meet the Contestants:

  • Johnny "I Just Have to Trade Every Day" Johnson
  • Sam "Never Saw a Short I Didn’t Like" Stevens
  • Malcolm "Make Matters Worse" Montgomery
  • Rusty "Reset" Roberts – Back with 10 fresh accounts!
  • Freddy "FOMO" Frederickson
  • Patrick "Predict Price" Patterson: “It’s going up today, Bob!”

Remember: It’s all fun and games until the market opens. Don’t become a victim of Trap the Trader.

Today’s Game Plan: Caution on FOMC Day

Today is FOMC Day—a high volatility day. Our group will trade together on Zoom in the morning and stream live on YouTube in the afternoon to observe the price action. The afternoon is a no-trade zone. One loss and you're done.

Don't forget: Don't whiz on the electric fence!

Recap of Yesterday's Price Action

Yesterday, we mapped out a short trade path aiming for the bull/bear line, but it stopped early and reversed. We went long and added at several levels before taking profit. A strong afternoon candle (dubbed the "Trump candle") hit a major resistance zone perfectly.

Key highlights:

  • Executed a solid long after a failed short setup.
  • Took profit successfully.
  • Avoided risky entries around high-volatility candles.

Technical Overview and Levels to Watch

Let’s zoom out to the 30-minute chart:

  • Adjusted a level to ~5484–5490, intersecting trendlines based on the time of day.
  • Downside targets include 5490 and 5455 if volatility spikes.

Overnight, a liquidity grab suggested a long setup, but risk was too high to hold into the ETH open. A 70+ point candle confirmed why caution was warranted.

Above the bull/bear line: longs only. No interest in shorting here.

Session Levels and Market Conditions

Current price action is:

  • In the middle of yesterday’s range—not an exciting place to trade.
  • Stacking down session highs: Asia, then London.
  • Right at yesterday’s Point of Control (POC) and RTH halfback.

Overnight low has been established and marked. We remain in the upper distribution but under VWAP. Not bearish, but also not in a place to short.

Final Thoughts

Today’s opening may be dull if you prefer trading edges. We're not at an edge now.

Prediction for today? One word: Pain.
Stay green, friends.

MORE INFORMATION:

Keywords:

FOMC, futures trading, day trading, MES, E-mini, MicrosTrader, bull bear line, VWAP, price action, overleveraging, revenge trading, trading discipline, market liquidity, trap the trader, point of control, short trade, trend line, support and resistance, trading strategy, account reset, trade management

SUMMARY:

  • ✅ FOMC Day Trading Alert: Traders are advised to approach with caution as FOMC days often trigger extreme volatility.
  • ✅ Discipline Over Profit: Pride can lead to emotional and reckless trading. Prioritize discipline over gains.
  • ✅ Fun with "Trap the Trader": A lighthearted segment warns of common trading pitfalls like overleveraging and revenge trading.
  • ✅ Technical Levels Watched: 5484–5490 and 5455 are key support/resistance zones. Trend lines and session highs inform trades.
  • ✅ Market Conditions: Price is mid-range, near the POC, offering no clear edge. Patience is key in such conditions.


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