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.
Yesterday, price action aggressively rallied in mini market cycle phase 3 during normal trading hours and retested the previous upper boundary of the previous M-pattern. Momentum then stalled and transition to a mini market cycle phase 4 after breaking down below a minor area of support (i.e., neckline). After-hours continued to see bearish weakness in price action as it retraced heading into pre-market and the opening bell. The 20MA started to converge downwards toward the 200MA.
Pre-market Economic news and reports…
Every Day we use the following Scalp Trading Strategies…
After the opening bell, price action immediately moved higher with a continuation of the mini market cycle phase 2 from pre-market. We took an aggressive setup LONG based on new intraday highs and an additional second setup from the flag pattern breakout. Price action moved in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: