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.
From a birds-eye view, price action continued to be in a multiple day mini market cycle phase 2 with healthy retracements. Price action consolidated overnight in the middle of the prior day’s range after a huge last hour rally and retracement. The 20MA continued to move higher above the 200MA as price action oscillated around the 20MA 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 mini market cycle phase 2 uptrend. We took an aggressive LONG entry based on flag pattern breakout and new intraday highs and continuation of the uptrend from pre-market and captured 2.0+ points profit.
Mini Market Cycles Analysis: