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.
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Pre-market Economic news and reports…
Overnight price action continued to show strength and momentum from yesterday’s strong rally. Price action remained near the prior day’s highs and crossed above it in pre-market. Starting to see a healthy retracement and flag pattern back to the prior day’s high area heading into the opening bell. From our birds-eye view, the Daily and the hourly chart is showing that price action is building momentum to re-enter the previous 22-Day consolidation range from the end of July 2017 to early August 2017.
For ultra-aggressive traders, there was easily two LONG entries that provided quick hits and profits using good risk & money management tactics.
For traders focused on higher quality trading, the 5-minute charts also provided themay have been 1 opportunity to go LONG during the first hour of trading.
Duration: 4+ minutes
With price action continued to be strong with higher highs and higher lows, we took LONG setup based on intraday NEW Highs and micro-managed the trade using our 1-5 minute charts. Slowly moved our trailing stop and took 2.0+ points profit.
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