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.

Overnight price action consolidated inside the prior day’s range after a healthy retracement and down motion with lower highs and lower lows. Once price action found minor support near the intraday lows after hours momentum moved higher oscillating around the 20MA and towards the upper 1/3rd of the prior day’s range.

Yesterday was the first price action day in several weeks where price action went below the prior day’s low.

Our 20MA has converged back towards the 200MA with price action heading into pre-market and the opening bell.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

 

Explanation:

Our first trade was in pre-market using a 1-minute chart and once we saw yesterday’s price action retrace off the intraday lows and overnight price action continue to build momentum, we took a 3-bar reversal pattern set up as an aggressive LONG using a marker lot (i.e., minimum position) and manage the trade for a 2.0 profit.   

During the 1st hour, we have significant data issues and discrepancies, so decided to sit on hands. 

Duration: 3+ minutes

For ultra-aggressive traders, during the first-hour session, there were no aggressive entries that could lead to quick small profits. (due to data discrepancies)

For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits. (due to data discrepancies)

Extra Trades:

 

5-Next

Unlock more trading tools to improve your trading instantly…