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.
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Pre-market Economic news and reports…
Overnight price action showed weakness with price action oscillating around the prior day’s low. After the opening bell, price action moved lower on the 1-minute charts before retracing back to the prior day’s low and finding upper boundary of resistance. Took aggressive SHORT with price action closing back below the opening bell. Moved the stop to breakeven for a “free trade” and closed the trade with 2.0+ point profit.
Duration: 3+ minutes
With all the noise and choppy price action on the 1-minute charts, we focused on the 5-minute charts for better analysis. Price action failed to breakdown on 5-minute charts and closed back above the opening bell. We took a market lot LONG and once price action moved in our favor, we moved the stop to breakeven for a “free trade”. Closed trade with 2.0+ points profit.
Notice in our pre-market overview, we mention how the mini market cycles were moving somewhat fast and completing in 1 – 3 Days.
Once we had confirmation of price action rolling over in a mini market cycle phase 4 with lower highs and lower lows, we took a SHORT trade and moved our stop to breakeven as price action went in our favor. Took 2.0+ points profit.
We took another SHORT trade and immediately moved out stop to breakeven. Took 5+ points profit.
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