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 after-hours and formed a triangle chart pattern with lower highs and a base of minor support. Momentum eventually pushed price action lower below the support area and below the prior day’s low heading into the pre-market and opening bell. The 20MA continues to converge downward as it was oscillating around the 200MA and continuing the multiple day mini market cycle phase 4 downtrend.
Pre-market Economic news and reports…
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After the opening bell, price action moved aggressively lower and under the 20MA to new intraday lows. We patiently waited for confirmation of a lower high below the opening bell. We took an ultra-aggressive entry SHORT based on new intraday lows and price action went in our favor and we captured multiple profits of at least 1.0+ point.
Mini Market Cycles Analysis: