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.
Price action gapped up Sunday afternoon as the market re-opens. Friday’s momentum moved downward during normal trading hours and found minor support at the intraday lows area. Overnight price action consolidated around the 20MA before retesting the prior low area and forming a 2X bottom in the 62% Fibonacci area. Price action started to rally upwards heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action started to move lower and crossed below multiple swing pivot lows on the 1-minute charts. We patiently waited for confirmation of a lower high and flag pattern below the opening bell and we took an ultra-aggressive scalp trade SHORT based on the flag pattern breakdown. Once price action moved in our favor, we moved the stop to break even and with all the choppy, overlapping candlesticks, we took 2.0+ points profits.
Duration: 10+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2 quality ultra-aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.
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