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.
From a birds-eye view, price action continues to consolidate inside the prior day’s range with an upper and lower boundary from a triangle chart pattern. During after-hours, price action found minor support near the lower boundary of support and oscillated around the 20MA. Pre-market momentum showed price action retracing off the lows heading into the opening bell. The 20MA and 200MA are converging towards each other and no direction from the market as it approaches the all-time highs area.
Pre-market Economic news and reports…
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After the opening bell, price action continued to move up and remain above the 20MA. We patiently waited for confirmation of a higher low and flag pattern breakout with new intraday highs and we took several ultra-aggressive LONG entries and we captured 1.5+ point profit from each one.
Mini Market Cycles Analysis: