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 found some minor resistance slight above the prior day’s high and after multiple attempts and a 2X top, momentum crossed below the 20MA and back below the prior day’s high into the prior day’s range with a series of lower highs and lower lows in a mini market cycle phase 4. Price action continued in after-hours lower and crossed below the prior day’s low before finding minor support heading into the pre-market and opening bell. Price action has retraced back towards the 20MA heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action moved slightly lower below the 20MA after a 2X top in pre-market, and one we had confirmation of a lower high, we took several aggressive SHORT entries based on breakdowns and flag patterns. Price action slowly moved in our favor and we captured 2.0+ points profit on multiple trades.
Mini Market Cycles Analysis: