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.
Yesterday’s price action continued the consolidation near the upper boundary of resistance as price action began breaking out of a multiple day triangle pattern. Momentum continued to build during after-hours and over-night as price action crossed above the prior day’s high and continue with a series of flag patterns and higher highs and higher lows. The 20MA continued to converge higher with the 200MA in harmony as price action moved higher heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated with excessive overlapping candlestick bars and very little intraday range movement. We decided to sit on hands in the morning sessions and protect trading capital and wait for more weight-of-evidence to see momentum potential find some direction.
For ultra-aggressive traders, during the first-hour session, there were no quality ultra-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.
Mini Market Cycles Analysis:
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