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.
With yesterday being a holiday, price action only traded for a short window of time creating a very tight intraday range. Momentum continued to flatten over multiple days and price action continued to move slowly lower and converging below the downward 20MA.
The 20MA continues to expand lower below the 200MA. In after-hours, price action crossed below the prior day’s low and found minor support heading into pre-market and the opening bell while forming a flag pattern.
Pre-market Economic news and reports…
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Price action moved upwards after the opening bell and once we had confirmation of a higher swing pivot low on the 1-minute chart, and a 3-bar candlestick reversal pattern, we took a LONG setup and micro-managed the trade and took 2.0+ points profit.
Duration: 3+ minutes
For ultra-aggressive traders, during the first-hour session, there were 2 aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were 1 good candlestick or chart pattern setups for quick profits.
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