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.

From a birdseye view, price action continues to consolidate inside a multiple day flag pattern that retraced off the previous lows. Yesterday’s price action oscillated around the 20MA and in after hours and overnight, remained inside the prior day’s range. The 20MA continues to flatten and converge lower while remaining slightly above the 200MA. An upper boundary or resistance from overnight price action continues to hold down the markets heading into pre-market and the opening bell.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

After the opening bell, price action was very choppy and volatile before a significant reversal of momentum with price action crossing back below the opening bell and continuing the mini market cycle phase 4 from pre-market. We patiently waited for confirmation of a lower high and price action breaking down below the lower boundary of the flag pattern and took an aggressive SHORT. Momentum went in our favor and we captured 2.0+ points profit.      

Mini Market Cycles Analysis: