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 consolidated during yesterday’s normal trading activity and in after-hours crossed below the prior day’s low and continued to move lower with a series of lower highs and lower lows. The 20MA converged below the 200MA as momentum pushed through several prior support areas heading into pre-market and the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated around the opening bell before finally momentum pushed price action lower. With the failed breakout of price action moving higher, the path of least resistance started to be to the downside. We waited for confirmation of follow-thru and the 2-bar candlestick reversal pattern and we took an ultra-aggressive entry SHORT and price action went in our favor and we captured 4.0+ point.
Mini Market Cycles Analysis: