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 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.

Economic News:

Pre-market Economic news and reports…

Note: 20 Sessions can be scheduled over multiple weeks or months.

 

Explanation:

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

Extra Trades:

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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