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.

Overnight price action maintained near the prior day high area and the momentum from the intraday.

From a birds-eye view, price action found minor support and bounced off the lows (i.e., Phase 2) with a small flag pattern (i.e., Phase 2 that looks short lived) and price action is in the lower 1/3rd of the prior move down.

Pre-market Economic news and reports already began in pre-market with a few occurrences and so we want to be concern for any impact the news causes.

Pre-market price action on the 5-minute charts showing upper boundary of resistance while moving lower inside the prior day’s range and weakness heading into the opening bell.

15-Minute Chart showing another great example of flag pattern breakdown and retest in pre-market.

So we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for more evidence of setups from Candlestick analysis, chart formations and patterns and price action.

Explanation:

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With price action consolidating and very choppy on the 1-minute chart, switch to 5-minute charts for more weight-of-evidence. With no direction, sitting on hands this morning.

Review all of our trades in the Quick Hits For Fast Profits Summary table…

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Note: You will have access to the commentary details if you register for our 2017 Scalp Trading MasterClass training program, or our ES LIVE Trading room. or Quick Hits For Fast Profits program.5-Next