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 remained in the upper 1/3rd of the prior days range and consolidating around the prior day’s high area. Markets continue to show strength and phase 2 momentum with multiple flag patterns heading into the pre-market and opening bell.

Noticed that the 20MA is extended from the 200MA.

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 retested the flag pattern from the pre-market and then began to show momentum moving above the opening bell and remained above the prior day’s high. 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 the immediate pullback, we got stopped out at break even.

For ultra-aggressive traders, immediately after the opening bell, there was at least 1 aggressive entries 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: 5+ minutes

Extra Trades:

 

Today’s price action for the ES E-mini presents several LONG and SHORT setups for those ultra-aggressive scalp traders who are adaptive at reviewing the weight of evidence. In the morning session, with price action above the prior day’s high, and in the vicinity of all-time highs, the focus was on LONG’s. Once price action found an upper boundary of resistance and rolled over below the opening bell, the market started to show some weakness and SHORT setups.

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