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.
Friday’s intraday price action continued consolidated in the morning session before breaking out above multiple swing pivot highs and rallying towards intraday highs. Following the Daily Chart flag pattern breakout, price action continues to be in a mini market cycle phase 2 uptrend. The 20MA is now starting to expand and converge upwards away from the 200MA. Overnight price action maintained the momentum starting Sunday afternoon and continued to stay above the 20MA heading into pre-market and the opening bell.
Pre-market Economic news and reports…
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Immediately after the opening bell, price action moved slightly below the opening bell and formed a multiple bar reversal, and we waited for confirmation of price action closing above the opening bell and took an aggressive LONG. Once price action went in our favor, we moved the stop to break even and then took 4.0+ points profit.
Duration: 15+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2 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.
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