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.
Price action rallied on Friday during normal trading hours with very strong momentum and weight of evidence as price action crossed above the prior day’s high and continued to show strong momentum in after hours and overnight on Sunday afternoon. Price action starting to form a healthy flag pattern heading into the pre-market and the opening bell. The 20MA continues to converge upwards with the 200MA.
Pre-market Economic news and reports…
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Price action formed a pre-market 3-bar reversal setup on the 15-minute chart and once we had the opening bell and a similar reversal pattern on the 1-minute chart, we aggressively took a LONG entry. As price action moved in our favor, we patiently waited for a higher swing pivot low and then micro-managed the trade and captured 5.0+ points profit.
Duration: 5+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2 ultra-aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were 1 good candlestick or chart pattern setups for quick profits.
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