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.
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Pre-market Economic news and reports…
Pre-market price action was already showing mini market cycle phase 4 momentum from overnight flag pattern retracement off the overnight lows. Pre-market price action already crossed below the prior day’s low and was moving lower.
With the flag pattern retest, we took an aggressive SHORT entry and manage the trade with a conservative stop. Price action slowly moved in our favor and we moved our stop to breakeven for a “free trade”. Micro-manage the trade on a 1-minute chart with a trailing stop for potentially more profits.
We eventually took 5+ points profit using our conservative trailing stop.
Duration: 20+ minutes
Note: We have already hit our monthly target for profits using the Scalp Trading Trio strategies. Results show below are based on 1 contract and we use our Profit Accelerator Strategies to trade multiple contracts and increase our profits.
After the opening bell, price action rallied for a few minutes before finding upper resistance and rolling over and crossing below the opening bell. Took another aggressive SHORT and micro-managed the trade using the 1-minute chart. Took 3+ points profits.
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