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.
Yesterday’s price action consolidated after the opening bell during the first hour and then built momentum to move back above the opening bell and continued towards new intraday highs and crossing above multiple prior day highs and continued the multiple day mini market cycle phase 2 uptrend. The 20MA continued to converge upwards above the 200MA. Overnight price action continued to consolidate sideways near the intraday highs heading into the opening bell.
Pre-market Economic news and reports…
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Similar to yesterday, after the opening bell, price action consolidated in a very tight intraday range with excessive overlapping candlesticks on the 1-minute charts. Our pre-market analysis indicated a significant amount of resistance on the higher timeframes is close by, so we decided to be patient the first hour. We decided to sit on our hands in the morning session.
Mini Market Cycles Analysis:
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