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 moved lower in the late day session yesterday and complete a mini market cycle phase 4 downtrend before heading into after-hours. After-hours momentum continued to move in a mini market cycle phase 4 with lower highs and lower lows as price action remained below the 20MA and crossed below the previous support area near the previous W-pattern lows. The 20MA converged lower below the 200MA as price action retraced upwards in pre-market and heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action moved lower and started to indicate bearish evidence. We waited for confirmation of a lower high under the 20MA and below the opening bell. We took an ultra-aggressive entry LONG based on the prior-bar high breakout and price action went in our favor and we captured 1.0+ points profit.
Mini Market Cycles Analysis: