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.

Yesterday’s price action immediately catapulted after the opening bell and continued to build momentum in a mini market cycle phase 2 with higher highs and higher lows. Price action crossed above the prior day’s high and remained there during after-hours and overnight. Overnight price action started to consolidate around the 20MA which converged away from the 200MA heading into pre-market and the opening bell.  Multiple day price action providing an early indication of a W-pattern with a 2X bottom and support.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

 

Explanation:

Price action on multiple time frames was very choppy with wide-range candlestick bars and no significant follow thru. With the increased volatility and wicks on most candlesticks, we decided to sit on hands the first hour.         

Duration: none

For ultra-aggressive traders, during the first-hour session, there were 1 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.

 

Mini Market Cycles Analysis:

Market Recap & Trade Reviews and Discussions

 

 

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