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.
Overnight price action retraced off the intraday lows in a flag pattern as it remained inside the prior day’s range. The 20MA continued to converge below the 200MA as price action remained in the multiple day mini market cycle phase 4 heading into pre-market and the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action continued the mini market cycle phase 2 uptrend from premarket. We patiently waited for confirmation of a higher low above the opening bell and candlestick reversal pattern and took an aggressive LONG flag pattern break out. Momentum went in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: