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.
Overnight price action consolidated in the upper 1/3rd of the prior day’s trading range. Price action continued the mini market cycle phase 2 uptrend over multiple days with higher highs and higher lows. The 20MA continued to move upward and stay above the 200MA.
With congruency across multiple time frames, price action getting close to testing all-time highs area.
Heading into the pre-market, price action retraced in a flag pattern heading into the opening bell.
Pre-market Economic news and reports…
Note: 20 Sessions can be scheduled over multiple weeks or months.
After the opening bell, price action oscillated around the opening bell and then started to move upwards with slight momentum and a flag pattern LONG entry break out on the 1-minute charts. Once price action went in our favor, we moved our stop to break even, and using a trailing stop, took 2.0+ points profit.
From the birds-eye view (i.e., 15-minute charts) we continue to be in a multiple day mini market cycle phase 2 with multiple flag patterns.
For ultra-aggressive traders, during the first-hour session, there was at least 2 aggressive entry that could lead to quick small profits.
For traders focused on higher quality trading, there was 1 candlestick or chart pattern setups for quick profits.
Duration: 4+ minutes
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