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.
Yesterday’s intraday price action began completing the mini market cycle phase 4 in the last hour of the trading day and eventually found some minor support with a higher swing pivot low. After hours price action remained inside the prior day’s range and slowly formed a series of higher highs and higher lows with flag patterns heading into the pre-market and opening bell. Earlier during the trading day, the 20MA crossed above the 200MA and remained.
Pre-market Economic news and reports…
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Immediately after the opening bell, price action started consolidating on the 1-minute charts and we patiently waited for more weight of evidence. With the continued choppy market conditions, we decided to sit on hands and PROTECT our profits for the week
For ultra-aggressive traders, during the first-hour session, there were no aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were no1 good candlestick or chart pattern setups for quick profits.
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