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 continued to be in a mini market cycle phase 2 with higher highs and higher lows. As price action continued to remain above the prior day’s highs, we are testing all-time highs with congruency on all our time frames and the 20MA > 200MA.
Heading into the pre-market and the opening bell, price action had a small retracement 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 consolidated slightly below the opening and then with a 3-bar candlestick reversal, price closed above the opening bell for an aggressive LONG and as price slowly went in our favor, we moved our stop to break even and then took 2.0+ points profit.
For ultra-aggressive traders, during the first-hour session, there was only 1 or 2 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.
Duration: 8+ minutes
Unlock more trading tools to improve your trading instantly…