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 retested the upper boundary or prior resistance from the previous mini market cycle phase 3 and 2X top area.

Price action then aggressively retraced in a mini market cycle phase 4 with lower highs and lower lows from a series of flag patterns and crossed below the prior day’s lows as well as several swing pivot lows.

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, while the 15-minute charts provided more clarity on the momentum being bearish.

Pre-market price action provided an early indication of a 2X bottom forming while heading into the opening bell.

After the opening bell, price action retested the previous pre-market low vicinity and then reversed forming the W-pattern and crossing back above the opening bell. Once price action closed above the opening bell, we waited for confirmation of higher highs and higher lows and then took a LONG entry based on a 3-bar reversal and flag pattern. We moved our stop to break even and then took 1.0+ points profit.

For ultra-aggressive traders, there were at least two LONG aggressive entries for very nice quick profits.

For traders focused on higher quality trading, there was only 1 quality LONG setup on the 5-minute/15-minute charts for small quick profits.

Duration: 10+ minutes

Extra Trades:

5-Next

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