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.
Overnight price action for the ES Emini Futures crossed back above the 20MA and formed a series of higher highs and higher lows and then crossed above the prior day’s high heading into pre-market and the opening bell.
Measuring the retracement for the current momentum is also showing evidence of a strong bounce with price action crossing above the 62% fib levels as the 20MA has converged back above the 200MA.
Pre-market Economic news and reports…
Note: 20 Sessions can be scheduled over multiple weeks or months.
After the opening bell, price action consolidated on the 1 & 5-minute charts, around the opening bell in a triangle chart formation and then broke to the upside for a short-lived move. We took an ULTRA-Aggressive LONG entry based on a flag pattern breakout and retest setup and micro-managed the trade for 1.0+ points profits.
For ultra-aggressive traders, there were probably (2) aggressive entries very quick small profits.
For traders focused on higher quality trading, there was at least one quality intra-day high breakout setup on the 5-minute/15-minute charts for small quick profits.
Duration: 10+ minutes
Price action continued to show strength the majority of the trading day with momentum providing a series of flag patterns with higher highs and higher lows.
ULTRA-Aggressive traders could have easily traded with the markets and had at least 9 scalp traders for some level of really nice profits.
With price action breaking multiple prior day highs, starting to see a change in direction from the previous few days.
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