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.
Detail Chart Analysis and Reviews provided in new & improved video format with audio.
Pre-market Economic news and reports…
Overnight price action for the ES Emini Futures consolidated inside the prior day’s range and eventually found some momentum to cross above the prior day’s highs with series of flag patterns and higher highs and higher lows. Multiple time frames continue to have congruency with price action above the 20MA and the 20MA > 200MA. Pre-market price action testing all-time highs heading into the opening bell.
Note: 20 Sessions can be scheduled over multiple weeks or months.
Immediately after the opening bell, price action started to show weakness by moving below the opening bell and after the 2X top, we identified the mini market cycle M-pattern. Once we had confirmation of the neckline break and lower highs, ULTRA-Aggressive traders had two (2) counter-trend SHORT setups. Using tight stops, with the 20MA, small quick incremental profits between 0.5 points and 1.0+ point were available.
For ultra-aggressive traders, there were two (2) aggressive entries for very quick profits.
For traders focused on higher quality trading, with price action above the prior day’s highs and near all-time highs, the only trading activity available was counter-trend trading and no candlestick analysis setups to support the entries.
Duration: 10+ minutes
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