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 continued to move slightly lower in after-hours as a series of flag patterns with lower highs and lower lows moved lower until it found minor support. With multiple attempts to retest the minor support area, price action continues to converge around the 20MA as it moved lower below the 200MA.
With price action in the lower 1/3rd of the prior day’s range, momentum continues to lend itself in the bearish direction.
Pre-market Economic news and reports…
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Immediately after the opening bell, we waited for confirmation of the mini market cycle phase 2 from pre-market, and after the opening bell a 2-bar candlestick reversal pattern formed on the 1-minute chart, we took a LONG setup and micro-managed the trade and took 5.0+ points profit.
Duration: 3+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2 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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