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.
Today, overnight price action showed strong after-hours momentum and continued to consolidate near the prior day’s high.
Price action then found upper resistance and begin retracing back to the hot zone levels on 5-minute chart.
Pre-market Price action was already approaching the prior day’s high area and found minor resistance.
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The initial ES 5 Minute setup did not have any follow thru so we closed our trade early and reduced our loss to less than 2 points.
Second trade also showed no signs of follow thru so we take a 1 point loss.