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 continued to consolidate in the upper 1/3rd of the previous mini market cycle phase 2 over multiple days.

Price action remained inside the prior day’s range and found minor support during after hours near the 38% fib level. With price action descending in the multiple day flag pattern, we also so multiple mini market cycles on the 1 and 5-minute charts.

Our 20MA continues to be slightly above the 200MA after crossing below and back above heading into pre-market and the opening bell.

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 consolidated around the opening bell before methodically move slowly higher and hitting up against the upper boundary of resistance. After a healthy retracement, price action had a second attempt to retest the intraday highs and upper boundary of resistance before failing.

We did identify a couple ultra-aggressive setups for quick hits and profits. With all the congestion, we decided to sit on hands, and PROTECT our profits for the week.   

Duration: none

For ultra-aggressive traders, during the first-hour session, there were maybe 2 aggressive entries that could lead to quick small profits.

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

Extra Trades:

 

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