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 started to move downwards with lower highs and lower lows inside the prior day’s range after finding an upper boundary of resistance in the late day session.

Once price action closed below the 20MA and continued towards the prior day’s low and closing below it as well, price action broke several previous prior swing pivot lows and crossed below the 200MA.

Heading into the pre-market, price action rallied off the overnight lows and back inside the prior day’s range heading into the opening bell.

Economic News:

Pre-market Economic news and reports…

Note: 20 Sessions can be scheduled over multiple weeks or months.

 

Explanation:

After the opening bell, price action immediately presented a multiple candlestick reversal patterns after the opening bell with follow thru. Price action then began forming healthy flag patterns with retracements as it remained above the opening bell, above the 20MA and in the upper 1/3rd of the prior day’s range. With the confirmation of price action closing above the prior swing pivot high from pre-market, we took an aggressive LONG and as price slowly went in our favor, we moved our stop to break even and then took 2.0+ points profit.

From the birds-eye view (i.e., 15-minute charts) we continue to be in a multiple day mini market cycle phase 2 with multiple flag patterns.

For ultra-aggressive traders, during the first-hour session, there were several aggressive entries that could lead to quick small profits.

For traders focused on higher quality trading, there were no good candlestick or chart pattern setups for quick profits.

Duration: 8+ minutes

Extra Trades:

 

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