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.
From a birds-eye view, price action previously consolidated in a multiple day Phase 3 with an extended M-pattern. Yesterday, after the normal trading activity, price action aggressively moved lower towards the neckline and crossed below the prior day’s low and transition to a mini market cycle phase 4 with a series of lower highs and lower lows during after-hours and overnight. The 20MA crossed below the 200MA and started to converge away from the 200MA heading into the opening bell.
Pre-market Economic news and reports…
Every Day we use the following Scalp Trading Strategies…
Overnight price action moved aggressively lower in a mini market cycle phase 4. After the opening bell, we patiently waited for confirmation of weakness with price action finding minor resistance near the intraday highs and once price action crossed below the 20MA and the ascending support trendline, we took an aggressive SHORT entry and price action moved in our favor and we captured 2.0+ point profit.
Mini Market Cycles Analysis: