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.

Pre-Market Analysis:

LIVE Detail Chart Analysis and Reviews provided in ES LIVE with digital video and audio.

So we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for evidence of setups from Candlestick analysis, chart formations and patterns and price action.

Overnight price action moved above the intraday highs before consolidating sideways and crossing back below the prior day’s high. Price action continued to move lower below prior swing pivot lows in pre-market heading into the opening bell. Using Fib Analysis, we also see price action in the upper 1/3rd of the prior day’s range after the multiple days extended flag pattern last week and then price action broke above the upper boundary and retested it before slightly moving higher towards all-time highs and continued the momentum yesterday reaching new all-time highs.

Our 20MA continues to be extended above the 200MA with price action probing below it heading into pre-market and the opening bell.

Economic News:

Pre-market Economic news and reports…

 

Every Day we use the following Scalp Trading Strategies…

Mastering-the-Market-Cycle2

Explanation:

After the opening bell, price action methodically moved higher with all the weight of evidence being bullish. After the 3 bar reversal and price action closed above the opening bell, we took an aggressive LONG entry based, and using a tight trailing stop, we closed the trade at breakeven since the markets were choppy on the 1-minute charts. We then took another LONG trade after seeing the follow thru and micro-managed them using a trailing stop for 2.0+ points multiple times.    

Duration: 5+ minutes

For ultra-aggressive traders, during the first-hour session, there were maybe 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.

Extra Trades:

 

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