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:

Detail Chart Analysis and Reviews provided in new & improved video format with audio.

Economic News:

Pre-market Economic news and reports…

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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 continued to maintain the momentum from yesterday’s huge two days 100% retracement. Price action consolidated around the intraday highs and eventually continued to retest the upper boundary of resistance from the prior multiple day sideway’s range-bound moves. Pre-market price action started to pull back below the 20 MA and back below the prior day’s high heading into the opening bell. After confirmation in pre-market of a M-pattern and multiple flag patterns with lower highs and lower lows, we took a SHORT based on a flag pattern break down. Immediately moved our stop to break even and used a trailing stop to capture 3.0+ points profit.

For ultra-aggressive traders, there was an initial SHORT opportunity that required good risk & money management tactics. Once price action failed to move lower and reversed above the opening bell, there were maybe 2 or 3 additional LONG opportunities for quick profits.

For traders focused on higher quality trading, with price action reversing quickly after the opening bell, there may have been 1 opportunity to go LONG during the first hour of trading.

Duration: 30+ minutes

Extra Trades:

With the pre-market price action providing evidence of lower highs and lower lows, we waited for price action to close below the opening bell and took a SHORT. We hesitated to move our initial stop to break even, based on being in the early stages of a down trend and mini market cycle phase 4. With no follow thru, we closed the trade with a 1.0+ loss.

Similar to yesterday, price action remained very strong with higher highs and higher lows above the 20 MA and opening bell. Took LONG entry and moved stop to break even, then took 2.0+ points profit.


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