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 continued to rally on Friday before the weekend and move upwards in momentum in a multiple day mini market cycle phase 2 with higher highs and higher lows. Price action oscillated around the 20MA in after-hours over the weekend and started to retrace back below the prior day’s high area and inside the prior day’s range in the upper 1/2 as it continued to converge towards the 200MA heading into the pre-market and opening bell.

Heading into the opening bell, price action is in an extended flag pattern inside prior day’s range.

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 initially consolidated around the 20MA on the 1-minute chart with no direction while inside the prior day’s range. Price action then reversed off the intraday lows and begin consolidating and slowly moving back above the opening bell 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.

Duration: none

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.

Extra Trades:

 

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