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 retraced after the normal trading hours back towards the prior day’s low with a series of flag patterns and lower highs and lower lows. Once price action found minor support (i.e., W-pattern) it started rallying heading into pre-market and the opening bell and remain inside the prior day’s range in the 50% vicinity.

The market continues to have the weight of evidence leaning in the bullish direction with the 20MA > 200MA and congruency on multiple time frames.

Economic News:

Pre-market Economic news and reports…

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

 

Explanation:

After the opening bell, price action consolidated around the opening bell with no direction for the majority of the first hour. With price action inside the prior day’s range, not a lot of evidence for ULTRA-Aggressive trading. We decided to sit on hands and preserve profits for the week and wait for more weight of evidence since market conditions are extremely strong.

For ultra-aggressive traders, during the first-hour session, there was at least 1 candlestick reversal pattern for a LONG aggressive entry that could lead to quick small profits.

For traders focused on higher quality trading, there was 1 good candlestick or chart pattern setups for quick profits.

Duration: none

Extra Trades:

 

Today’s price action was quite calm in the morning sessions before the economic shock and price action rolled over aggressively for several setups for ultra-aggressive scalp traders. Once price action closed below the opening bell and continued to show weakness as it moved below the prior day’s low, wide range bars indicated an increase in volatility and to use tight stops to capture as much profit as possible.

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