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.
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Overnight price action consolidated in the prior days range near the middle of the range and formed a W-pattern (i.e., Double bottom). Pre-Market price action began crossing above the 20-MA and forming higher highs and higher lows in a mini Market Cycle phase 2. Higher time frames showing strong upper boundary of resistance. Once the opening bell occurred, and we had a complete reversal of price action from below, we waited for the flag pattern and the retest. Took LONG and immediately moved stop to breakeven and then we closed the trade with a 2.0+ points profit.
Duration: 8+ minutes
Price action rolled over very aggressively below the opening bell and crossed below multiple prior swing pivot lows. Price action also crossed back below the prior day’s high and formed a flag pattern breakdown. Took aggressive SHORT and waited for follow thru, then closed trade with 2.0+ points profit.
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