Thu AM Briefing: Inside the Micros Room: ES & MES Trade Plans and Price Zones

Thu AM Briefing: Pre-Market Strategy for ES Futures Traders in Our Live Room

Traders were urged to approach Thursday's session with caution as the market consolidates ahead of Friday's non-farm payroll report. The commentary stressed the importance of discipline and journaling, especially on atypical trading days. A potential multi-session reversal box was highlighted, with key support near 4247–4241 and resistance toward 4320. Despite a bullish bias, elevated risk of a liquidation break prompted a conservative, rules-based approach.
📚 RESOURCES
📄 TRANSCRIPT

Opening Remarks

Good morning, everybody. Welcome to the AM briefing brought to you by MicroTrader.com, where together we trade better. It is Thursday, June 5th, episode number 444. Let's get into it.

"A thief only comes to steal and to kill and to destroy. I have come so that you may have life and have it in abundance." – John 10:10

Essay Format Questions

  1. What type of price action should you walk away from?
  2. What emotional temptation feels like a “thief” in your trading?

Trading Discipline Tip

Today's tip of the day: Can you say no to price action? A trader who can't say no won't be a trader for long. What type of price action makes you walk away? Journal it.

Yesterday was a total "I'm not trading this" day. We were hugging that 4292 level all day long. It simply wasn't worth trading. Focus on easier days.

Pre-NFP Trade Planning

The day before non-farm payroll (NFP) is crucial. Your trade plan should specify what this day means for you—whether it's a "one and done" day or a "one loss and done" day. In our group journal, check the “day before NFP” box so you can later review your mindset and performance for these sessions.

Chart Review and Battle Plan

Last night’s battle plan had two parts. I skipped the first entry because I wanted a deeper move. The pullback didn’t reach my order at 4295. After group analysis, I chose not to take it at all.

We're currently basing at a key level, possibly forming a multi-session reversal box. I’ll be very selective with entries, looking toward 2025 open if we drop, or following yesterday’s upper level plan if we rise.

Market Structure and Bias

This is not bearish. We may be forming a multi-session reversal box. NQ isn’t dropping, and if Tesla, Nvidia, and Apple align directionally, it could be an exciting session.

Intraday Scenarios and Reactions

If we pop up early, I’ll watch the reactions and see if we pull back into the key level or break down from the open. Either way, we have predefined setups. Let’s trade it live together.

Bull-Bear Scorecard Analysis

Overnight trendline: neutral. Session stacking: none. VWAP: flat. Overnight halfback: neutral. Current position: bullish. Indices: bullish.

Use 4264 as today’s bull-bear line, and 4217 as the high-timeframe support. If we reach 4217, that could be an exciting area heading into NFP.

The risk of a liquidation break is high today. Longs should be executed with ladders only. Avoid limit orders in fast-moving conditions.

Risk Management and Trade Discipline

Trade small, know your stop, and don’t make things worse. If you're using a “one loss and done” rule, respect it. Personally, I'm leaning toward either “one trade and I’m done” or “one loss and done.” Any second trade would only risk a portion of gains.

Closing Remarks

Edge remains with the bulls, but caution is warranted. Breakdown could hit 4247–4241, then 4217. Upside could target the opening gap and 4320. See you live at the top of the hour. Stay green, my friends.

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

Frequently Asked Questions

Q: What should I include in my trade plan for the day before NFP?
A: Specify risk limits and trading rules such as “one and done” or “one loss and done,” and track them in your journal.

Q: How should I react to a potential liquidation break?
A: Avoid limit orders and only consider longs with ladder entries; reduce size and know your stop.

Q: What does the bull-bear scorecard suggest for today?
A: It leans bullish based on position and indices strength, but with neutral readings on VWAP, halfback, and session stacking, traders should remain cautious.

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