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 in a tight range yesterday before forming a series of slightly lower highs and eventually moving lower towards the prior day’s low area and crossing it. During overnight, price action crossed below the prior day’s low and found minor support and retested the low area in pre-market before a dramatic change in momentum. The 20MA continued to converge lower below the 200MA heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated in a tight range before building momentum and continuing the mini market cycle phase 2 from pre-market. We took an aggressive LONG entry based on a breakout and new intraday highs. Price action slowly moved in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: