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.
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Overnight price action for the ES Emini Futures consolidated near the prior day’s highs and price action slowly moved upwards yesterday during market hours with a series of higher highs and higher lows. Price action currently testing the all-time highs area heading into the end of the week. With price action in the upper 1/3rd of the prior day’s range, momentum leaning in the bullish direction.
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Immediately after the opening bell, markets provided a quick trade for ULTRA-Aggressive traders to go LONG for small profits. Afterwards, lots of overlapping bars and consolidation. Decided to sit on hands.
For ultra-aggressive traders, with price action consolidating inside the prior day’s upper 1/3rd range, two possible setups were considered to be good enough for aggressive trading.
For traders focused on higher quality trading, one (1) possible 3-bar reversal candlestick LONG pattern presented quick profits.
With all the weight-of-evidence showing strong momentum and price action near all-time highs, we took an aggressive LONG entry and once price action went in our favor, we moved the stop to break even and using a trailing stop, we took 2.0+ points profit.
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