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 broke out of the flag pattern from Friday’s trading activity. Price action continued during after-hours to move higher by crossing above the prior day’s high and momentum continued the mini market cycle phase 2 uptrend with a series of higher highs and higher lows. The 20MA converged upwards away from the 200MA heading into the pre-market and opening bell. Price action found some minor resistance after a retest of the area and started to retrace heading into the opening bell.
Pre-market Economic news and reports…
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Pre-market price action indicated slight bullish momentum from the mini market cycle phase 2 uptrend. Once price action reversed and closed with an ultra-aggressive flag pattern breakout, we patiently waited for more weight-of-evidence and confirmation of a higher low. We took an aggressive entry LONG based on the flag pattern breakout and price action went in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: