This commentary will focus on the first 60-90 minutes after the Opening Bell. However, our strategies can and will provide setups the entire trading day.

The Easiest Way To prepare for Scalp Trading the ES E-Mini Futures.

Pre-Market Analysis:

LIVE Detail Chart Analysis and Reviews provided in ES LIVE with digital video and audio.

So we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for evidence of setups from Candlestick analysis, chart formations and patterns and price action.

Overnight price action consolidated near the intraday lows and then started building momentum by crossing above the 20MA and continuing higher with a series of flag patterns and higher highs and higher lows. Pre-market price action continued higher to retest the prior day high area and cross above it. The 20MA continues to converge higher as it remains above the 200MA and from a birds-eye view, price action is starting to break above the prior resistance from the previous multiple day triangle pattern.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

 

Explanation:

Similar to yesterday, pre-market analysis indicated a phase 2 upward momentum starting to build on the 1-minute charts heading into the opening bell. After the opening bell, price action probed below the opening bell and eventually crossed below multiple swing pivot lows and started to test new intraday lows. We patiently waited for confirmation of lower highs and lower lows and took several ultra-aggressive SHORT entries based on flag pattern breakdowns. Once price action went in our favor, took 2.0+ points profit several times.         

Duration: 10+ minutes

For ultra-aggressive traders, during the first-hour session, there were 3+ quality ultra-aggressive entries that could lead to quick small profits.

For traders focused on higher quality trading, there were 1 good candlestick or chart pattern setups for quick profits.

 

Mini Market Cycles Analysis:

Market Recap & Trade Reviews and Discussions

 

 

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