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.

With the holiday week, overnight price action for the ES Emini Futures consolidated with small retracements over multiple days and continued to show evidence of higher highs and higher lows as price action approach all-time highs.

With the 20MA above the 200MA, price action retraced after a 2X top and upper boundary of resistance in pre-market. Momentum was stagnant heading into the pre-market and opening bell.

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 on the 1 & 5-minute charts, around the opening bell and then reversed with price action crossing above the opening bell and providing some early entries for ULTRA-Aggressive traders.

With the 20MA > 200MA, price closing above the opening bell, there were several quick LONG entries for quick profits.

With it being the beginning of the week, i.e., Monday, we decided to sit on hands and patiently wait for more confirmation of momentum moving in a direction.

For ultra-aggressive traders, there were at least two aggressive entries for quick profits.

For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.

Duration: none

Extra Trades:

 

Today’s price action was mostly choppy and non-directional, similar to last week.

Still enough opportunities for ultra-aggressive traders to get at least 5 – 8 scalp trades for quick profits.  Higher timeframes confirmed lack of momentum and direction with overlapping candlesticks and very little price movement in any direction.

 

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