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.
Price action consolidated in after-hours moving upwards slightly after a 2X bottom and crossing above the 20MA. Momentum continued with price action remaining in the upper 1/2 of the prior day’s range. The 20MA is converging back towards the 200MA heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action continued the multiple day’s high volatility, so we have to use bigger stops to stay in the trades. Price action aggressively moved lower before reversing in the first few minutes and forming an M-pattern. We took an ultra-aggressive entry SHORT based on new intraday lows and price action went in our favor and we captured multiple profits of at least 4.0+ point.
Mini Market Cycles Analysis: