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.
From a birds-eye view, price action continued yesterday moving lower in the mini market cycle phase 4. The 20MA continues to converge lower below the 200MA and slightly retracing off the prior day’s lows heading into the pre-market and opening bell.
Pre-market Economic news and reports…
Every Day we use the following Scalp Trading Strategies…
Prior to the opening bell, dramatic economic news ignited the markets for a few minutes. After the opening bell, price action reversed and crossed below the opening bell and we waited patiently for a completion of the current market cycle phase 4 and then once price action found minor support and crossed above the opening bell, we waited for a confirmation of a higher low and took an aggressive entry LONG, but with all the consolidation and overlapping bars, we only pursued and captured 1.0+ points profit. We took a second trade SHORT and also captured 1.0+ points profit.
Mini Market Cycles Analysis: