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.
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Pre-market Economic news and reports…
With the previous price action showing early signs of a mini market cycle phase 3, we waited for the opening bell and confirmation of price action moving in a downtrend on the 1-minute charts. Our pre-market analysis continues to show the evidence of price action finding support in the current area, so any trades will be taken with a minimum position size. We identified multiple flag pattern breakdowns.
We took an aggressive SHORT from price action breaking minor support after a flag pattern breakdown. We moved the stop to breakeven for a “free trade” and closed the trade at breakeven.
Duration: 5+ minutes
Once price action rolled over after the mini market cycle phase 2 and transitioning to phase 3, we took a minimum position SHORT and micro-managed the trade on the 1-minute charts. Using a trailing stop, we took 2.0+ point profit.
Continued to see momentum trending lower while price action predominately stayed below the 20 MA. Took aggressive SHORT and managed the trade. Took 3.0+ points profit.
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