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.
Today, pre-market price action broke out of an overnight flag pattern with price action in the lower 1/3 of the prior day range.
With Price action inside the prior days range, we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for a setup depending on where price action falls in relationship to the opening bell.
After a few minutes of price action, we start to see evidence of higher highs and higher lows from flag patterns and price action breaking the prior upper resistance area.
We get a Flag pattern setup to give us a LONG entry today.
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The initial flag pattern setup was extremely fast and provided a single bar profit target of 2+ points.