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.
Yesterday during normal trading hours, Price action continued the multiple day mini market cycle phase 2 and stalled in after-hours remaining in the upper 1/3rd of the prior day’s range. The 20MA remained extended above the 200MA and started to pull back towards the 200MA. Price action found minor resistance from the prior day’s high area in overnight trading and began retracing below the 20MA heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action crossed above multiple prior day swing pivot highs and found minor resistance. Momentum stalled and crossed back below the 20MA with a lower high. We patiently waited for confirmation of a lower high and with follow thru and we took an ultra-aggressive entry SHORT based on M-pattern breakdown and price action went in our favor and we captured 2.0+ point.
Mini Market Cycles Analysis: