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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Overnight price action for the ES Emini Futures found minor support in the middle of the prior day’s range and began rallying after crossing back above the 20MA with a series of higher highs and higher lows associated with multiple flag patterns. Price action crossed above the prior day’s high and continued to build momentum and crossed above multiple prior day highs and moved in pre-market towards new all-time highs.
Note: 20 Sessions can be scheduled over multiple weeks or months.
After the opening bell, price action consolidated above and below the opening bell with small moves. With the anticipation of the FOMC event, we decided to sit on hands during the morning session.
For ultra-aggressive traders, there was one aggressive entry for very quick profits.
For traders focused on higher quality trading, there was one quality setup on the 5-minute/15-minute charts based on 2/3 bar candlestick reversal patterns with price action moving for quick profits.
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