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.

From a birds-eye view, price action consolidated for the second day in an extended multiple day flag pattern after the strong uptrend mini market cycle phase 2. With price action extremely close to the all-time highs, momentum is starting to stall with resistance building. The 20MA is converging towards the 200MA heading into the opening bell.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

With price action consolidating yesterday in a very tight range, we were skeptical of any potential aggressive moves to the upside. After the opening bell, price action continued to consolidate in a triangle pattern during the first hour. Once price action broke the upper boundary we took an aggressive LONG entry for 1.0+ point profit since there was significant resistance above.  

Mini Market Cycles Analysis: