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 started to build some momentum after finding minor support and retesting the support area (i.e., 2X Bottom). Price action crossed above the 20MA and slowly moved above multiple prior swing pivot highs and heading into the pre-market also crossed above the prior day’s high and major resistance area.

With the 20MA also crossing above the 200MA, price action slowly sustained its momentum with several consolidation areas as it continues to retest all-time highs.

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 with no clear direction and in the vicinity of all-time highs. Once price action showed weight-of-evidence of remaining above the opening bell, we focused our attention on LONG entries for ULTRA-Aggressive trading.

With the 20MA > 200MA, we took a LONG entry based price action being above the opening bell and a flag pattern break out. We moved our stop to break even and with all the choppy overlapping candlesticks and no momentum, as soon as price action closed below the 20MA, we closed the trade with a small profit of 0.5+ points profit.

For ultra-aggressive traders, there weren’t very many good quality aggressive entries that could lead to quick profits.

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

Duration: 17+ minutes

Extra Trades:

Today’s price action presented several great opportunities for ultra-aggressive trading with all the weight of evidence primarily focused on LONG setups. With the markets being congruent and at all-time highs, price action continued to move higher while staying above the 20MA and 200MA.

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