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.

From a birds-eye view, yesterday’s price action completed a mini market cycle phase 1 (i.e., W-pattern) and continued to indicate strong momentum with price action breaking above the neckline and remaining above the opening bell and 20MA during normal trading hours. With the 20MA crossing above the 200MA, price action maintained staying in the upper 1/3rd of the intraday range in after hours. Overnight price action oscillated around the prior day’s high area with small flag pattern retracements and oscillated around the 20MA heading into pre-market and the opening bell.

We switched to the “front month contract”.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

After the opening bell, price action showed signs of increasing volatility as it oscillated around the opening bell and 20MA. We waited for confirmation of price action staying above the opening bell and took an aggressive LONG setup based on a 2-Bar candlestick reversal pattern. Price action slowly went in our favor and we captured 1.0+ point profit. Markets continued to be very choppy with overlapping bars and we patiently waited for the triangle chart pattern breakdown and took a series of aggressive SHORT entries and took 1.0+ points profit from them each. 

Mini Market Cycles Analysis: