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.
Overnight price action continued to remain in the upper 1/3rd of the prior day’s range after the first day in several where price action stayed above the opening bell. The 20MA converged back upwards towards the 200MA and slightly crossed it after the series of higher highs and higher lows the last couple of days.
Volatility continues to be extremely high with excessive intraday ranges.
Pre-market Economic news and reports…
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Price action immediately after the opening bell went lower and then created an ultra-aggressive 3-bar reversal setup and we went LONG. We micro-managed the trade and took 2.0+ points profit. After more confirmation for price action moving higher, we waited for a flag pattern and took a 4-bar reversal candlestick pattern LONG. We micro-managed the trade for 2.0+ points profit.
Duration: 15+ minutes
For ultra-aggressive traders, during the first-hour session, there were at least 3 aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were at least 1 good candlestick or chart pattern setups for quick profits.
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