Tue AM Briefing: ES & MES Levels and Setups and Plans for Today’s Trading Session

In Tuesday’s futures market briefing, MicroTrader emphasized disciplined trade journaling and the importance of recognizing emotional temptations in trading. Key strategies included maintaining a financed runner to capitalize on extended price moves and a review of overnight price action favoring bullish continuation. Updates to the group’s stop-loss indicator now provide enhanced leverage metrics and ATR-based calculations. With bullish structure holding, traders were advised to monitor the bull/bear line and prep for potential breakout or liquidity-grab setups heading into the JOLTS report.

📚 RESOURCES

▶️ Free "Futures Foundations Course"

▶️ Become A Member: ES MES Futures Trading Room

▶️ YouTube Community Updates

📄 TRANSCRIPT

Opening Remarks

Good morning, everybody. Welcome to Tuesday, June 3, a.m. briefing brought to you by microtrader.com—where together we trade better. It’s true. Let’s get into it.

"A thief comes only 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

What emotion affected your trade today?
How will you respond differently next time?

Tip of the Day: Keep a Runner Back

Today’s tip: keep a runner back. Why? Let’s be honest—how do you know if price is going to keep going? You don’t. That’s why you keep a runner back. We don’t know how far price will go.

We are really good at knowing where price is going to bounce—but how far will it bounce? You're never totally sure. That’s why, if you can enter with multiple contracts, it is worth keeping a runner. Especially if it’s a financed runner—there’s no risk in holding it back because you’re already in a profitable trade.

Market Context and Recent Trades

It’s Tuesday, and we have the JOLTS report 30 minutes after the market opens. I’ll be live on YouTube this morning, likely between 9:15 and 9:20, depending on when our mental training wraps up. Then I’ll go live to map out some trades and see if we can find solid entries again today.

Yesterday was another fantastic day for my cash account. I got out of my Friday runner with 40 points. Then I got into another trade—covered in last night’s video—and captured 30 more points.

However, if I’d played perfect chess according to our three-contract management system, I would have tapped out last night at 50 points. So it cost me 20 points. Still, I captured a beautiful 20-pointer last night. I took a short at 4675, right at the top of our strong range. I treat shorts like microwave trades—quick in and out. I exited at 20 points.

This was posted in our group last night along with the trade plan. The move occurred before I could publish the plan, otherwise it would have been a short with the stop just above the entry. I entered with a market order while working on the trade plan. It was a nice overnight trade—a great way to start the day.

Updated Stop-Loss Indicator

For group members, I updated the stop-loss indicator this morning. Some people like to use an ATR-based stop-loss, so I created a tool that shows the current ATR and helps guide your sizing. For example, at a 3.1 ATR using a 2:1 ratio, you could trade three contracts with a five-point stop-loss.

I also updated leverage metrics. It now displays, for instance, if you’re planning a six-point stop and your max loss per trade is $200, then you can do six contracts.

Another line was moved over showing that if you’re trading one contract with a 40-point stop-loss, you’d still be within the max loss per trade. I think 40 points is way too much. On ES, if it goes 10 points against you, you’re wrong. At 15 points, you’re really wrong. But I included it for context.

Overnight Session & Battle Plan Review

Let’s go to the 10-minute chart. What happened overnight? The plan was for price to drop below a level, reclaim it, and then go higher. It wasn’t a perfect entry, but it did reach the bottom of the strong range, which is an excellent exit target.

From strong to strong is usually a high-quality move. If you were watching at 5:00 AM like me, you may have seen it—but I didn’t take it because it wasn’t clean enough. I was prepping for the briefing.

When it came back to the level, I considered entering with a tight two-point stop-loss, but it didn’t set up and I stayed flat.

If the market turns south today, this could be a great spot for a short after a liquidity grab and shift.

Market Sentiment

Looking at broader market sentiment—it doesn’t appear bearish. We’re above the overnight halfback. Price came in and tested halfback multiple times, each time producing a bounce.

Does this mean we break out today and push higher? I don’t know. What I do know is we’re good at identifying bounce levels, and this overnight bounce was textbook.

The overnight session took out the high—a great magnet for price. If we open and drop straight down, I’m watching for a potential short under the bull/bear line to target a gap fill—part of Monday’s battle plan, which is still valid.

Upcoming Tools and Trade Plan Distribution

I’m considering offering text message alerts for these battle plan trades. These might be made available to both members and non-members. That’s in development.

So, at the moment, we’re not bearish. We bounced off the bull/bear line. Bulls are winning early. Always read the chart logically and look for the best entries.

Zooming Out: The Bigger Picture

Now, let’s zoom out to an hourly chart. I want to highlight a key trend line—from way back on the “tariff bomb” day. We’re still above that line.

The next trend line resistance likely comes in around 6150. It looks like we’re marching toward that level.

Would I short it? Not unless we hit it, bounce, and then shift structure. I’d prefer to be long into it.

The morning long setup didn’t look clean enough or I would’ve taken it. Even in this big chop zone, we’re reaching the top and pulling back. So we’ll trade the levels as they develop.

Good luck trading today. I’ll see my traders live at the top of the hour for mental training. If you’d like to join our YouTube session, check in 15 minutes before the market opens.

Stay green, my friends. To learn more about our group, go to microtrader.com.