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 re-opened Sunday afternoon and continued the multiple day mini market cycle phase 4 with a lower intraday high from Friday. Momentum continued to slowly move lower with price action retesting the intraday lows from Friday in after hours and heading into the pre-market and opening bell. The 20MA continued to converge below the 200MA as both pointed downwards.
Pre-market Economic news and reports…
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After the opening bell, price action initially moved lower and continued the pre-market mini market cycle phase 4 before finding some minor support at the intraday lows and reversing back towards the opening bell. After crossing above the 20MA and confirmation of a higher low, we took an aggressive LONG entry. Price action slowly moved in our favor and we captured 1.0+ points profit.
Mini Market Cycles Analysis: