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 moved slightly lower yesterday during normal trading hours before finding minor support near the intraday lows and crossed back above the 20MA in after hours and continued to retrace and move higher with a series of higher highs and higher lows during the overnight. Pre-market price action crossed above the prior day’s high area heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action reversed and moved lower back crossing below the prior day’s high and inside the prior day’s range. After confirmation of a lower high below the opening bell, we took an aggressive entry SHORT and as the price went in our favor, we captured 2.0 points profit. After momentum reversed 100% and crossed above the 20MA we waited for confirmation of a higher low and we took an aggressive new intraday high set LONG. Price action slowly went in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: