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.
Sunday afternoons price action continued the retracement off Friday’s intraday lows. Momentum consolidated around the 20MA as it converged back upwards in the direction towards the 200MA. Multiple day birds-eye view continues to show a series of lower highs and lower lows from the market cycle phase 4. Heading into pre-market and the opening bell, patiently watching for confirmation of price action moving lower with additional swing pivot lower highs and lower lows on 1 or 5-minute charts.
Pre-market Economic news and reports…
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Price action consolidated after the opening bell around the 20MA and the opening bell. Once price action found minor support at the intraday lows, formed a W-pattern and confirmed moving higher with momentum closing above the opening bell we took several ultra-aggressive LONG entries based on 2 & 3 bar reversal patterns. Once price action went in our favor, took 2.0+ points profit several times.
Duration: 5+ minutes
For ultra-aggressive traders, during the first-hour session, there were 3 quality ultra-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.
Mini Market Cycles Analysis:
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