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.
Detail Chart Analysis and Reviews provided in new & improved video format with audio.
Registered LIVE Trading Room attendees get FREE access…Click here!
Pre-market Economic news and reports…
Overnight price action consolidated for several minutes in the morning session, price action finally broke above multiple swing pivot highs on the 1-minute charts. Because our Pre-market analysis continued to show the markets in a 20+ day range with the upper boundary of resistance very close above. Decided to sit on hands.
Once we had confirmation of the uptrend with higher highs and higher lows on the 1-minute charts, we took an aggressive LONG trade and waited patiently for follow-thru. Once price action confirmed staying above the 20 MA on the 1-minute chart, we moved the stop to break even for a “free trade”. Closed trade with 1.5+ point profits.
Price action catapulted thru the prior Daily & Hourly resistance levels. With the markets now at all-time highs and no resistance above, we took another LONG and immediately took 2.0+ points profit.
With price action at all-time highs, above the 20 MA > 200 MA and above the prior day’s high, we clearly see momentum in a mini market cycle phase 2 with multiple flag patterns and higher highs and higher lows. We took LONG entry after a flag pattern retest. With the already small stop, we patiently waited for follow thru and moved the stop to break even for a “free trade”. Scaled out of partial position and took 2.0+ points profit.
Scaled out of remaining position and took 4.0+ points profit.
Unlock more trading tools to improve your trading instantly…