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 for the ES Emini Futures had a healthy retracement after the morning and mid-day rally. Price action remained in the upper 1/3rd of the prior multiple day momentum move and inside the prior day’s range while consolidating around the 20MA.

With the 20MA above the 200MA, price action was stagnant heading into the pre-market and opening bell.

Economic News:

Pre-market Economic news and reports…

Note: 20 Sessions can be scheduled over multiple weeks or months.

 

Explanation:

After the opening bell, price action consolidated on the 1 & 5-minute charts, around the opening bell and the 20MA the entire first hour and with no directions, we decided to sit on hands and protect our profits for the week and wait for more confirmation of momentum moving in a direction.

For ultra-aggressive traders, there were no good aggressive entries for quick profits.

For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.

Duration: none

Extra Trades:

 

Today price action was very choppy and non-directional. Not a good day for any scalp trading. Most of the day price action stayed in a tight range oscillating around the opening bell and the 20MA until the last hour.

During the last hour, price action methodically started to move lower with slightly lower highs and lower lows.

 

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