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.

Yesterday’s market cycle phase 4 had a very weak down move in momentum at a slight angle. Overnight found some minor support after yesterday’s tight intraday range and began forming an M-pattern slightly below the prior day’s low. Price action then began forming a series of higher highs and higher lows in mini market cycle phase 2. In pre-market we took a flag pattern break out LONG and once price action went in our favor, we moved the stop to break even, and using a trailing stop, we closed the position with 1.0+ point profits. 

For ultra-aggressive traders, markets provided several SHORT setups that moved for nice profits the first hour.

For traders focused on higher quality trading, no quality setups most of the morning as well.

Duration: 15+ minutes

Extra Trades:

After the opening bell, price action shows a little upward momentum, reversed and closed below the opening bell and started providing evidence of mini market cycle phase 4 on the 1-minute charts. We took several SHORT entries and moved our stops to break even, and cumulatively closed our trades easily with total profits of 5.0+ profits.

After price action retraced off the intraday lows, the markets found an upper boundary of resistance on the 1-minute charts and formed a M-pattern. Once price action broke below the neckline and continued to remain below the 20 MA < 200 MA, we took a flag pattern break down SHORT, moved our stop to break even. Watching the 20 MA closely, and using a trailing stop, we took 3.0+ points profit.

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