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.
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Pre-market Economic news and reports…
ES Emini Futures contracts rolled over to the Dec 2017 contracts over the weekend. Overnight price action open slightly higher then the prior day’s high and continued to build upwards momentum with higher highs and higher lows while oscillating around the opening bell. Price action not that far away from the upper boundary of resistance at the all-time high area. Once we had confirmation of price action continuing to be in an uptrend from pre-market, price action above the opening bell, above the 20 MA < 200 MA, we took flag pattern reversal pattern LONG and micro managed the trade. Took 2.0+ points profit.
For ultra-aggressive traders, there were at least 4 good entries & setups LONG for quick profits.
For traders focused on higher quality trading, using simple candlestick analysis, there were multiple 2-bar reversal patterns for LONG setups.
Duration: 4+ minutes
Took another LONG setup based on price action closing back above the 20 MA. We micro-managed the trade, moved our stop to break even and took 2.0+ points profit.
Took another LONG setup based on price action at all-time highs, break out and we micro-managed the trade, moved out the stop to break even and using a trailing stop, took 2.0+ points profit.
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