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.

From a birds-eye view, yesterday’s price action continued to hold with a triangle pattern and higher low after earlier in the week, price action crossed above the W-pattern neckline and transition to the early stages of a mini market cycle phase 2. Overnight price action formed another higher low as it consolidated around the 20MA and momentum continued higher crossing above the prior day’s high heading into pre-market and the opening bell.

We switched to the “front month contract”.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

After the opening bell, price action started to build bullish momentum and we waited for confirmation of price action staying above the opening bell and took an aggressive LONG setup based on a flag pattern breakout and new intraday high pattern. Price action quickly went in our favor and we captured 3.0+ point profit. Afterward, the markets continued to be very choppy with overlapping bars and an upper boundary of resistance before rolling over in a mini market cycle phase 4. 

Mini Market Cycles Analysis: