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 the mini market cycle over multiple days with price action crossing below the prior day’s lows and showing weakness heading into the pre-market and opening bell. The 20MA continued to remain below the 200MA as we see lower highs and lower lows from swing pivots.

Heading into the pre-market, price action retraced off the overnight lows in a flag pattern heading into the opening belle.

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 oscillated in the lower 1/3rd of the prior day’s range with very little mini market cycles on the 1-minute charts.

From the birds-eye view (i.e., 15-minute charts) we continue to be in a multiple day retracement and downtrend, so we decided to sit on hands today.

Reviewing our 1 and 5-minute charts, all the weight of evidence was continued to indicating choppy and unfavorable market conditions.

For ultra-aggressive traders, during the first-hour session, there was no aggressive entry 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: none

Extra Trades:

 

Today’s price action was very weak and not very volatile. With a tight intraday range, there was only a hand full of ultra-aggressive scalp trades for quick profits.

 

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