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.

Price action re-opened Sunday afternoon and continued the slight weakness from last week with momentum continuing to be under the prior day’s low with the 20MA below the 200MA. From a birds-eye view, price action continues to be in a multiple day mini market cycle phase 4 downtrend and found some minor support heading into pre-market. With the minor support holding, the markets continues to retrace off the pre-market lows heading into 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 attempted to move lower below the opening bell, and after retesting the intraday lows, momentum changed directions and abruptly crossed above the 20MA and the opening bell. We took an aggressive counter-trend LONG entry with the higher time frames still in a downtrend and captured 1.0+ points profit.   

Price action stalled at the intraday highs and rolled over, crossing below the 20MA and back below the prior day’s low and the opening bell, so we took an aggressive SHORT entry and captured 1.0+ points profit.

Mini Market Cycles Analysis: