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 continued to consolidate inside the prior day’s range in the upper 1/3rd of the intraday range. With the 20MA > 200MA, price action extended the mini market cycle phase 2 from the previous days and it became range bound with an upper boundary of resistance.

Heading into the pre-market and the opening bell, price action formed a flag pattern with a small retracement heading into the opening bell.

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 show early signs of weakness by moving below the opening bell and crossing below multiple swing pivot lows. Once price action provided confirmation of lower highs and we took an aggressive counter trend trade SHORT based on a 2-bar candlestick reversal, and as price slowly went in our favor, we moved our stop to break even and then took 2.0+ points profit.

For ultra-aggressive traders, during the first-hour session, there was only 1 or 2 aggressive entries that could lead to quick small profits.

For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.

Duration: 9+ minutes

Extra Trades:

 

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