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.
Overnight price action continued to move the upwards momentum in the mini market cycle phase 2 with higher highs and higher lows from the prior day. Price action oscillated around the 20MA in after-hours as it continued to converge away from the 200MA and price action crossed above the prior day’s high and continued to move heading into the pre-market and opening bell.
Heading into the opening bell, price action at pre-market highs and all-time highs.
Pre-market Economic news and reports…
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After the opening bell, price action initially moved down and crossed below the prior day high before finding some minor support. Price action then reversed off the intraday lows and begin consolidating sideways with minimal movement.
Decided to sit on hands and PRESERVE trading capital and PROTECT profits for the week.
With price action at all-time highs, we patiently focused on long setups for more trading opportunities.
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 no good candlestick or chart pattern setups for quick profits.
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