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.
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Pre-market Economic news and reports…
Overnight price action found minor support from the volatility and we started to see higher highs and higher lows on the 1-minute charts heading into the opening bell.
Price action consolidated slightly above the opening bell and formed a flag pattern before breaking out to the upside.
Took an aggressive LONG entry and since we are in the early stages of a mini market cycle phase 2 on 1-minute charts, we did not move the stop to breakeven too fast”. No follow thru and we got stopped out at breakeven.
Duration: 6+ minutes
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