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.

Pre-Market Analysis:

LIVE Detail Chart Analysis and Reviews provided in ES LIVE with digital video and audio.

So we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for evidence of setups from Candlestick analysis, chart formations and patterns and price action.

In pre-market yesterday, the economic news sent the futures in a tail spin downward in just a few minutes. Once price action found minor support, it began slowly climbing back upwards and eventually continued to retrace off the lows over 100%. With price action back near where it started before the economic news, price action crossed above the prior day’s high and continued the previous uptrend in after hours and pre-market heading into the opening bell. The 20MA continues to converge upwards and away from the 200MA.

Volatility continues to be extremely high with excessive intraday ranges.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

 

Explanation:

Price action consolidated around the 20MA and remained below the opening bell all morning while the majority of the weight of evidence continued to point in the direction of bullish momentum. We decided to sit on hands and protect profits and trading capital.

Duration: none

For ultra-aggressive traders, during the first-hour session, there were no 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.

Extra Trades:

 

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