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 opened very strong from Friday’s close as price action opened above the prior day’s high and continued to remained consolidating around the 20MA and near all-time highs. The huge reversal from Friday’s intraday lows also showed evidence of markets moving higher as price action returned back towards the opening bell.

The market continues to have the weight of evidence leaning in the bullish direction with the 20MA > 200MA and congruency on multiple time frames.

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 under the opening bell before crossing it and a prior swing pivot high. We took a LONG entry and using a tight stop, we micromanaged the trade and took 3.0+ points profit.

After price action found some minor resistance above, price action rolled over and crossed back below the opening bell before starting a mini market cycle phase 4.

For ultra-aggressive traders, during the first-hour session, there was at least 1 LONG aggressive entry that could lead to quick small profits.

For traders focused on higher quality trading, there was 1 good candlestick or chart pattern setups for quick profits.

Duration: 5+ minutes

Extra Trades:

 

Today’s price action started out strong from the pre-market weight of evidence. After the first few minutes, price action started to roll over with multiple flag patterns and lower highs and lower lows on the 1-minute charts indicating a mini-market cycle phase 4. For ultra-aggressive scalp traders, there were easily some really good trending conditions for multiple SHORT setups and quick profits.

 

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