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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Pre-market Economic news and reports…
Overnight price action for the ES Emini Futures continued to stay in the lower 1/2 of the prior day’s range. With lots of overlapping bars and choppy price action, momentum continues to be bearish with slightly lower highs and lower lows and price action crossed below the prior day’s low heading into the pre-market while oscillating around the 20MA. Notice that price action is also in the vicinity of the prior two day lows as well.
Note: 20 Sessions can be scheduled over multiple weeks or months.
After the opening bell, price action consolidated around the opening bell and then provide a strong weight of evidence on the 1-minute chart with a series of lower highs and lower lows reflected by flag patterns. Our first setup SHORT based on price action crossing below the opening bell stopped out after no follow thru for a small loss of 0.75 points.
Shortly afterward, multiple flag pattern setups SHORT based on the flag patterns allowed us to move our stops to break even and using a trailing stop, capture quick profits ranging from 1.0 – 2.0+ points profit for each trade.
For ultra-aggressive traders, there were at least 4 aggressive entries for very quick profits.
For traders focused on higher quality trading, there was at least 1 setup 3-bar candlestick reversal setup mid-morning with price action moving for quick 2.0+ points profits.
Duration: 5+ minutes
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