ES & MES Futures Trade Plan #370

RTH 

Last night in the Discord group, I told everyone that today was gonna be an amazing day. At some point we’re going to break out, and it seemed like Thursday would be the day. We always trade what happens and not what we want to happen.

We got the breakout with a beautiful entry BEFORE taking the ATH. 

Many traders crushed longs today.

Congrats to all the long traders… Casey, James, Mike, Michael, Laxmi, Rosalie… those are the ones I can remember off the top of my head… kicking tail and taking names all the way to the Bank of Deposits.

How good did it feel to hold a long as we crossed the all-time-high!

Nice job. 

Too bad we never made it to the Expected Range… my target.

It did not matter one bit.

We tailed price like professionals. Offering multiple runner management ideas. 

Our discussion on Runner Management was worth the admission fee alone. 

Those types of discussions pay out well… long after the trading day ends. 

Some days the value of the ES Live Trading Room is the trades. Some days it’s the discussion. Today it was both.

You don’t need many trades like that to have an amazing week.

Side Note: Look at that touch and go… sweet!

I Took the MES Counter Short

Your long trade was WAY better than mine. No contest. You win!

I took the 08 short as outlined on Zoom. Why 08? To be perfectly blunt, there was no “level” sitting there… experience told me so. 1000s of Zooms accumulating over time helps. I rarely trade COUNTER but I did today and managed it well. Small green day again. Smalls add up. 

I called that location as the “possible” turn-around spot… if there was going to be a “turn-around”.

It was counter, as clearly stated in the commentary. If a single trade idea does not make sense to you, skip it. Just don’t take it. Simple. There is another trade around the corner!

We can BOTH be in a trade, one long and one short, and we BOTH make money. It happened today.

By the way… for you longs… ES had to turn around to come back to the Strong Range so ya’ll could get long… you are welcome! lol

I Was Wrong

I thought we needed to tag 7730 first… before we could springboard past the all-time high.

The bulls are so in control, it was not necessary.

My goodness.

That said, we did come within seven points of that 7730 level this week. Seven.

I would have been LONG with multiple contracts – that is a fact. 

7 more measly points.

Oh well… Another high-probability trade waits around the corner.

Range Rules

On the pullback today, look where we bounced!

Right off the top of the range.

You can’t make this stuff up.

This is why we talk about ranges like crazy when we are in one and when we break out of one.

Tip of the Day

You Don’t Need Another Trade:

Great location, already green, runner working? Then your day is built.

Quit hunting for one more trade. Protect the one that’s paying you.

Tomorrow’s Live Streams

Scoreboard

Points Accumulated This Week:

Battle Plan: 50+

🔥 NADA. We are NOWHERE near a high-probability trade location. Luckily the Battle Plan is just one way we make points in our Micros Trader System. 

The Battle Plan is consistently the category that makes the most points. Not this week.

Zoom: 50

🔥 20-30 point long.

🔥 8-point short. 

Core Strategy: 0

FS for break-even. 

BS for break-even. 

A nice BL if you held.

Trading AT all-time-highs is my least favorite location to trade.