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.
Overnight price action continued the momentum from yesterday after consolidating and continued to attempt to go higher.
Pre-Market Price action developing a nice flag pattern with lower highs and lower lows.
By us being inside the prior day’s range, we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for more evidence of setups from Candlestick analysis, chart formations and patterns and price action.
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With price action rolling over in pre-market, we took a marker lot position SHORT. Price action went in our favor and we took 1.5+ points profit.