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 crossed below the ascending support trendline and continued the mini market cycle phase 4 yesterday during normal trading hours and then initially continued in after-hours before finding minor support. With the minor support under the prior day’s low and holding, momentum reversed and crossed above the 20MA and retraced significantly back towards the 200MA. Heading into pre-market and the opening bell, price action continued to converge upwards with the 20MA.
Pre-market Economic news and reports…
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After the opening bell, price action immediately moved above higher and crossed above the first pre-market swing pivot high. We took an aggressive setup LONG based on new intraday highs and an additional second setup from the flag pattern breakout. Price action moved in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: