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.
Overnight price action continues to show the evidence of how strong the markets are with yesterday entire day of price action remaining in the upper 1/3rd or the phase 2 momentum and near all-time highs. After finding minor support in after-hours, price action began rallying with higher highs and higher lows while remaining above the 20MA.
Noticed that the 20MA continues to remain above the 200MA.
Pre-market Economic news and reports…
Note: 20 Sessions can be scheduled over multiple weeks or months.
After the opening bell, price action consolidated with very small moves for ULTRA-Aggressive trading. We decided to sit on hands and preserve profits for the week and wait for more weight of evidence since market conditions are extremely strong.
With the 20MA > 200MA, we noticed setups had very little follow thru and potential profit targets were small.
For ultra-aggressive traders, immediately after the opening bell, there was at least 1 aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there was 1 good candlestick or chart pattern setups for quick profits.
Today’s price action presented some great ultra-aggressive LONG & SHORT setups with price action rallying in the early part of the morning session and then finding minor resistance at all-time highs and reversed the majority of the intraday move.
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