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 continued to maintain momentum from retracement off the intraday lows and in the middle of the prior day’s range. After the first bearish day of price action out of multiple day moves to all-time highs, we will be looking for the additional weight of evidence to show follow thru on intraday charts as we see from the daily chart 2 bar reversal sell signal.

With the confirmation of a lower high heading into the opening bell, our 20MA continues to be below the 200MA.

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 moved below the opening bell and showed evidence of bearish momentum with lower highs and lower lows while being below the 20MA and 200MA. We took an aggressive SHORT based on price action forming lower highs and lower lows with multiple flag patterns. Once price action moved in our favor, we moved the stop to break even and then closed out of our position with 2.0+ points profit.   

Duration: 3+ minutes

For ultra-aggressive traders, during the first-hour session, there were maybe 3 aggressive entries that could lead to quick small profits.

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

Extra Trades:

 

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