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.

Overnight price action continued to build momentum from the intra day price action and retracement in the late day session. After-hours crossed above the prior day’s high with a series of flag patterns and higher highs and higher lows heading into pre-market. The 20MA starting to converge upwards away from the 200MA on multiple time frames.

With the confirmation of mini market cycle phase 2, we are watching price action to see if it retest the previous upper boundary of resistance from yesterday.

Heading into the opening bell, price action retracing in a flag pattern and oscillating around the 20MA.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

After the opening bell, price action moved slightly below the opening and after several 1-minute bars, price action reversed and crossed above the open and consolidated around the 20MA on the 1-minute chart.

Once price action retraced back towards the 20MA and then built some momentum, we took an aggressive LONG position based on the multiple bar candlestick reversal pattern.  After two consecutive bars did not go in our favor, we closed the trade with a small loss of 0.5+ points. 

Duration: 2+ minutes

For ultra-aggressive traders, during the first-hour session, there were maybe 2 aggressive entries that could lead to quick small profits.

For traders focused on higher quality trading, there was 1 good candlestick or chart pattern setups for quick profits.

Extra Trades:

 

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