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 reopened Sunday afternoon and consolidated inside the prior day’s range with slight descending downtrend and oscillating around the 20MA. From a birdeye view, price action has found minor support and formed a multiple day base of support with multiple 2X bottoms. The 20MA is below the 200MA and flattening as price action starts to slightly move higher heading into pre-market and the 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 in a triangle pattern on the 1-minute charts before forming a lower high and new intraday lows. 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: