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.
Price action remained inside the prior day’s range during normal trading hours and eventually found some minor support in the upper 1/3rd of the previous mini market cycle phase 2 uptrend. Overnight price action continued to consolidate around the 20MA with very little movement until the pre-market hours, where news caused price action to drastically move higher in minutes. The 20MA continues to converge upwards as the 200MA moved upwards in congruence.
Pre-market Economic news and reports…
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Price action continued to move downwards after the opening bell in a pre-market flag pattern. After finding minor support and a multiple bar reversal candlestick pattern, we patiently waited for price action to close above the opening bell and took a LONG entry. As price action moved in our favor, micro-managed the trade and captured 4.0+ points profit.
Duration: 6+ minutes
For ultra-aggressive traders, during the first-hour session, there were 3 ultra-aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were 1 good candlestick or chart pattern setups for quick profits.
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