pThis 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 remained inside the prior day’s range and found minor resistance before rolling over with a series of lower highs and lower lows. The 20MA and 200MA continue to converge downward as we head into pre-market and the opening bell.
With the beginning of new calendar month, will watch for a potential continuation of previous bearish momentum.
Pre-market Economic news and reports…
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Price action after the opening bell continued to move upwards off the pre-market lows with lots of choppy overlapping candlestick bars. With upper boundary of resistance holding from the 20MA on the 15-minute charts, we decided to sit on hands and preserve and protect our trading capital to start the month of February 2018.
For ultra-aggressive traders, during the first-hour session, there were no aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.
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