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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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 in the prior days range and probed above the prior days high in pre-market. After the FOMC meetings, markets continued to be strong with price action in the upper 1/3rd of the prior day’s range. After the opening bell, very little momentum to the downside and price action showed minimal movement with a very tight range. Decided to sit on hands.

Duration: none

Extra Trades:

[soliloquy id=”152043″]

With the ES Emini Futures consolidating, we took advantage of the GBP/USD FOREX pair. Took a SHORT trade after a 2-bar reversal and moved the stop to breakeven and letting trade continue to move in our favor.

ES 1-minute chart started to roll over with lower highs and lower lows as price action remained below the opening bell. We took aggressive SHORT and immediately move stop to break even for a “free trade”. Using trailing stop, we scaled out of partial position and took 5.0+ points profit.

Holding remaining position with most of the profits locked in. Closed remaining position with 4.0+ points profit.

Took another SHORT position and after the retracement and another reversal pattern, we added to the SHORT position. Price action continued to move in our favor and we scaled out of our previous SHORT trades with 2.0+ points profits.

Continued to manage prior SHORT positions with trailing stops and closed positions with 5.0+ points profit.

Our patience this week pay off!


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