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:

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Economic News:

Pre-market Economic news and reports…

 

Explanation:

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 for the ES Emini Futures consolidated slightly below the prior day’s highs and for the second consecutive day, price action aggressively moved upwards after consolidating the first hour during market hours with a series of higher highs and higher lows. Price action currently hitting so minor resistance near the all-time highs area heading into the opening bell and retracing with lower highs and lower lows in pre-market. Currently below the 20MA which is also below the 200MA.

 

Note: 20 Sessions can be scheduled over multiple weeks or months.

Immediately after the opening bell, price action consolidated sideways on the 1-minute charts for the entire first hour.

For ultra-aggressive traders, with price action consolidating on the 1-minute charts, there was maybe 1 or 2 aggressive trading opportunities with very small quick profits.

For traders focused on higher quality trading, similar to the ultra-aggressive trading activity, there were NO good opportunities for scalp trading for quick profits.

Duration: none

Extra Trades:

With price action finally breaking out of the morning consolidation range, we waited for confirmation of higher highs and higher lows on the 1-minute charts and once price action closed above the prior day’s high on the 5-minute charts, we took a LONG entry.  We moved our stop to break even and using a trailing stop, we scaled out of partial position with 1.50+ points profit.

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