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.
The first hour of trading yesterday showed price action continued to consolidate from the prior day’s pre-market and showing early signs of bearish momentum as it remained below the opening bell. Immediately in after-hours, price action dramatically dropped and moved lower in a mini market cycle phase 4 before finding minor support overnight and then began forming a series of higher lows as price action retraced back into the prior day’s range heading into pre-market and the opening bell. The 20MA started to converge downwards and crossed below the 200MA.
Pre-market Economic news and reports…
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Price action catapulted after the opening bell and moved higher for several minutes before consolidating near intraday highs. Once we had price action cross above multiple 1-minute swing pivot highs, we aggressively took a LONG entry based on a multiple candlestick reversal pattern. Price action immediately went in our favor, we moved our initial stop to break even, then stopped out on a pullback at breakeven.
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 2 good candlestick or chart pattern setups for quick profits.
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