Wed AM Briefing: ES & MES Levels and Setups and Plans for Today’s Trading Session
Wed AM Briefing: Pre-Market Strategy for ES Futures Traders in Our Live Room
In Wednesday’s futures trading briefing, the host of MicroTrader.com emphasized the importance of trade journaling and preparation ahead of Thursday’s Non-Farm Payroll report. He reflected on a missed long opportunity during a live session but highlighted a tactical short taken near the bull/bear line. A new customizable Bull/Bear Scorecard is in development, providing real-time sentiment alerts based on user-defined inputs. Traders were advised to stay mindful of potential volatility from the afternoon Beige Book release and to keep runners on winning trades due to inherent market uncertainty.Opening Remarks
Good morning, everybody. Welcome to the AM Briefing brought to you by MicroTrader.com, where together we trade better. We are an ES/MES futures trading room. It's Wednesday, June 4th, episode number 443.
"A thief only comes to steal and to kill and to destroy. I have come so that they may have life and have it in abundance." – John 10:10
Weekly Scripture Inspiration
Last night, my wife and I were going through the book of Judges, listening to our pastor online as he walked through a chapter. Interestingly, he mentioned this exact scripture while discussing Samson. I turned to my wife and said, “That's this week's scripture.”
Essay Format Questions
- Why do you keep a runner even when unsure of direction?
- What could you have done differently yesterday to maximize the 50-point move?
Tip of the Day
Today's trading tip is the same as yesterday: keep a runner back. Why? Because you want to burn this into your head.
Why do you keep a runner? How do you know if price is going to keep going? The truth is, you don't. That's why you keep a runner.
I'm still waiting to hear from you, Mr. James Paul, if you kept that runner yesterday. It was a great long setup with a beautiful 50-point move right to the 92 level that we called out live during the morning stream.
News Drivers and Market Plan
Today is Wednesday. We had a news event just now, and we'll check the charts 30 minutes after market open.
This afternoon brings the Beige Book. If you're trading midday or later, pay attention—while it's a yellow-folder event, it can cause more reaction than expected.
Tomorrow is significant because it's the day before non-farm payroll (NFP). You need a plan for how to trade the day before NFP. This should already be documented in your trade plan.
Essay Format Questions
- What is your trading approach the day before NFP?
- Have you reviewed past journal entries for pre-NFP setups?
Live Stream Update
I'm not going live this morning. That was yesterday's screen—I forgot to remove it. Maybe I'll go live later today, depending on weather and what my wife and I are doing. Beige Book could bring some volatility, which would be great.
Chart Review and Technical Context
Let's start with the larger view. We’ve got this big trendline from the tariff lows—bullish context overall. I'm going to add a smaller trendline, not because it's perfect, but to emphasize that we are legging up.
As of now, pre-news, it looks like we might be in a parabolic move, so stay mindful of that. We're seeing a really strong price action move here. Personally, I'm short in my LEAP account, and I'm okay with that.
Looking at broader market participation, is this bearish? Not really—we're at or around yesterday’s high.
Bull/Bear Scorecard Coming
We’re going to bring back the bull/bear scorecard. I used to include this in every AM Briefing but paused it due to time constraints. It’s now coming back, and I’m testing it as a separate indicator for now.
There will be built-in metrics and some user-defined ones. You can choose to display the table or not.
You’ll also be able to input volume profile data like yesterday’s POC, value area high/low, or weekly value levels. These levels will feed into the bull/bear calculation.
Additionally, you can input your own bull/bear line—either your personal one or one I provide during the stream. This customization makes the scorecard more powerful.
Trade Recap and Setup Thoughts
Yesterday during the stream, early price action was ugly. We were hoping for a trap-the-trader move—and we got it. I wanted a clean way to get long but didn’t find it. The move ran without me.
One of my traders took a muddy backside entry, and I’m curious to hear how that went, especially from James. We called out a strong level live, and that’s exactly where price went—missed it by three ticks.
Overnight, we followed the Tuesday battle plans. The setup I was most focused on was a short above the bull/bear line. I actually took that trade and posted it in the group.
It didn’t play out fully, but it still bounced. Another bounce came later, which I caught. Made a new high, slammed back in, retested—took the entry.
Bull/Bear Scorecard Alerts
The bull/bear scorecard updates in real-time. It went from 12-to-0 to 10-to-2 in front of our eyes.
You can set an alert within the indicator (click the three-dot “hamburger” menu). The alerts are pre-programmed to notify you when the bias leans bullish or bearish by eight or more points. That’s a great pattern interrupt.
This scorecard feature will likely be added to the Essentials Indicator soon.
Final Thoughts and Next Trade
If I were trading now, I’d watch for a pullback trade as it comes down. A great take-profit (TP) level is near yesterday’s half-back.
If price hits that area, I’d look to TP and consider re-entering later.
Also, notice it already bounced right at the Asia low—beautiful reaction.
Even if I only catch half the move, that’s perfectly fine with me.
Closing Message
That’s it for me today. I’ll see my traders live at the top of the hour for our mental training.
Let’s crush it today. Stay green, my friends. To learn more about our group, visit MicroTrader.com.
TRADER FAQ
Q: Why should I keep a runner during futures trades?
A: Because price continuation is never guaranteed, a runner helps capture additional gains if the trend persists beyond your target.
Q: How do I prepare for trading the day before Non-Farm Payroll?
A: You should have a predefined strategy documented in your trade plan and journal your performance for future reference.
Q: What does the Bull/Bear Scorecard do?
A: It measures market bias based on real-time data inputs like value areas and custom levels, and can trigger alerts when directional bias strengthens.
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