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.
Today, pre-market price action was consolidating in the middle of the prior day range.
With Price action also consolidating inside the prior 4 days range, we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for a setup depending on the prior days range and where price action falls in relationship to the opening bell.
Price action opens and the first 5-minute candlestick begins to go down below the opening bell.
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The initial flag pattern setup was extremely fast and provided a single bar profit target of 2+ points.