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.
Detail Chart Analysis and Reviews provided in new & improved video format with audio.
Pre-market Economic news and reports…
Yesterday’s price action was extremely choppy with excessive overlapping conditions. When you look at the markets closely, we see the mini market cycles phases with extended flag patterns. Price action remained in a very narrow daily range and inside the previous two days. Overnight markets consolidated around the 20 MA and eventually, pre-market price action started to build some momentum upwards after a series of flag patterns with higher highs and higher lows. After the opening bell, markets consolidated with very little direction, so we decided to sit on hands.
For ultra-aggressive traders, may have had 1 or 2 trade opportunities for small profits.
For traders focused on higher quality trading, no quality setups so should have been patient and sit on hands.
Duration: 15+ minutes
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