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.
Overnight price action continued to consolidate in the tight, multiple day range. After finding support and retesting the area, momentum started to build in pre-market as price action crossed above the 20MA and moved higher out of the triangle chart pattern. The 20MA is starting to move upwards as it crossed above the 200MA.
Pre-market Economic news and reports…
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Similar to yesterday, pre-market analysis indicated momentum starting to build on the 1-minute charts heading into the opening bell. After the opening bell, price action probed below the opening bell and reversed to move up and continued to move higher and after confirmation of higher highs and higher lows we took several ultra-aggressive LONG entries based on a breakout and flag pattern breakout. Once price action went in our favor, took 2.0+ points profit several times.
Duration: 5+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2+ quality 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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