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 showed bearish weakness yesterday during the normal trading activity by remaining below the opening bell all day. Momentum continued in after-hours and overnight with price action retesting the intraday lows. The multiple day uptrend continues to find higher lows as it retest the ascending trend line. The 20MA converged downward and slightly crossed below the 200MA. Heading into pre-market, price action retraced off the premarket lows heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action initially continued the consolidation from pre-market with lots of candlesticks around the opening bell. We patiently waited for the 1-minute charts to confirm momentum moving lower and towards new intraday lows and we aggressively took a SHORT entry based on a new intraday lows. Momentum moved in our favor and we easily captured 2.0+ points profit.
Mini Market Cycles Analysis: