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.

From a birds-eye view, price action continues the multiple day mini market cycle phase 4 with lower highs and lower lows as price action retraced towards the hot zone and slightly below the 38% Fibonacci levels.  With the downward momentum, the 20MA continued to converge below the 200MA and after the markets reopened Sunday afternoon, price action started to find some minor support from the prior day lows from Friday and began retracing back upwards and testing prior swing pivot highs. Overnight price action continued the retracement, crossing above the 20MA and multiple prior swing pivot highs and testing the prior day’s high area heading into the pre-market and 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 was extremely choppy with excessive overlapping candlestick bars on the 1-minute charts. We patiently waited for more favorable market conditions and confirmation of a lower high and took an aggressive series of SHORT trades based on new intraday lows and a flag pattern breakdown. With the difficult markets and price action moving very slow, we pursued small 1.0+ point targets and captured 1.0+ point profit from each one.  

Mini Market Cycles Analysis: