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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Yesterday, price action continued the mini market cycle phase 4 downtrend with lower highs and lower lows as momentum crossed below the prior day’s low area and continued bearish overnight. After converging in a triangle pattern overnight, momentum continued to push price action in the downward direction heading into the opening bell. The 20MA continued to converge below the 200MA.
After the opening bell, price action initially moved higher on bullish momentum and then abruptly reversed and bearish momentum aggressively pushed price action lower.
We initially took an ultra-aggressive trade LONG based on new intraday highs and flag pattern breakout and we captured between 2.0 points profit.
Mini Market Cycles Analysis
Normally we go for at least $400 profit, but today was extremely choppy market conditions.
Why is $400+ the magic number every day?
Because with discipline and focus every day, you compound your profits and start making $2,000+ every week or $100,000 after 50+ weeks. So every day…follow us and start your journey towards making $400+ every day.