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:

Detail Chart Analysis and Reviews provided in new & improved video format with audio.

 

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Economic News:

Pre-market Economic news and reports…

Explanation:

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.

Overnight price action found minor support near intraday lows from the pit hours and retraced off the lows with a flag pattern.  Price action continued to show weakness with a series of lower highs and lower lows heading into the pre-market. Pre-market price action crossed below the prior day’s low after breaking below multiple swing pivot lows with the 20 MA < 200MA.

LIVE 1st Hour Session:

Similar to yesterday, price action dramatically reversed below the opening bell and after a 2-bar reversal below the opening bell, we took a SHORT. We aggressively moved our stop to break even, and price action stopped us out at breakeven.

Duration: 1+ minute

Extra Trades:

Once we had confirmation of price action remaining below the opening bell and below the 20 MA, we waited for the flag pattern set & 4-bar reversal pattern. Took SHORT entry and as price action immediately went in our favor, we moved our stop to break even for a “free trade”. Then with the momentum moving quickly, we took 2.0+ points profit.

During the doldrums, we watched price action retrace off the intraday lows, and then cross back below the 20 MA and form a multiple bar reversal pattern.  Went SHORT and slowly moved our trailing stop, and took 2.0+ points profit.

Price action continued to remain below the 20 MA and we took a flag pattern break down SHORT. Using a trailing stop, we slowly moved our initial stop and continued to manage the trade. Took 2.0+ points profit.

With price action continued to show evidence of a down trend, mini market cycle phase 4, staying below the 2 MA and lower highs and lower lows, we took another SHORT.  Moved our stop to breakeven for “free trade”. We then took 1.0+ points profits because of our trailing stop.

Note: Today is perfect example of our Starbucks strategy“.

Price action continued to show mini market cycle phase 4 weight-of-evidence. Took SHORT based on 4-bar reversal pattern and intraday lows. Micro-managed the trade and took 2.0+ points profit.

Took another SHORT and micro-managed the trade and Scaled out of position and took 2.0+ points profit.

Held remaining position and scaled out for 4.0+ points profit.

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