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 continued the multiple day mini market cycle phase 2 during normal trading hours yesterday and continued in after-hours and overnight with a series of higher highs and higher lows. The 20MA remained above the 200MA and continued to converge upwards away from the 200MA. Price action found minor resistance in pre-market and began retracing below the 20MA heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action crossed above multiple prior day swing pivot highs. We patiently waited for confirmation of a higher low with follow thru and we took an ultra-aggressive entry LONG based on new intraday highs and price action went in our favor and we captured 2.0+ point.
Mini Market Cycles Analysis: