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.
Detail Chart Analysis and Reviews provided in new & improved video format with audio.
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Pre-market Economic news and reports…
Overnight price action began showing evidence of price action being in a mini market cycle phase 3 with lower highs and lower lows while being below the 20 MA. Using the 60-minute charts, we have additional evidence of multiple lower phase 3’s as the markets continue to see upper boundaries of resistance. We took a SHORT in pre-market on the 15-minute chart with a tight stop and as price moved slowly in our favor, we moved the stop to breakeven. With very little volume and using a time stop, took 1.0 profit.
Duration: 10+ minutes
Waiting for price action to show evidence of moving lower, using the 1-minute charts we took another SHORT, and with very little follow thru, we tighten our stops and eventually closed the trade with a 1.25 loss.
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