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.
Yesterday’s normal trading activity started to show a transition as price action moved lower immediately after the opening bell and found minor support near the intraday lows and the ascending support area from multiple prior days. After hours price action consolidated inside the prior day’s range and crossed below the 20MA and started to move lower overnight as lower highs and lower lows continued in the mini market cycle phase 4 down trend. The 20MA converged lower and crossed below the 200MA heading into the pre-market and the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated during the first hour with excessive overlapping candlesticks and we decided to sit on our hands this morning and preserve and protect our profits for the week.
Mini Market Cycles Analysis: