The markets are very good at providing “Head Fakes”!
The initial perception and reaction to price action on Friday, April 6, 2018, after the opening bell is that price action will continue higher from the pre-market flag pattern rally.
|Pre-Market Analysis||Post-Market Analysis|
Notice price action only went up for a few moments and then rolled over and continued lower with the mini market cycle phase 4 the remainder of the trading day.
Using our 3-Step 1st-Hour Strategy, we know that the price action is not going to hold, so any scalp trades we take during the 1st-hour are short-lived in terms of profits and we reduced our position-size to mitigate any big risk.
Once we got confirmation of lower highs and lower lows…we increased our position-size and became more ULTRA-Aggressive with our trades!