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 continued to show weakness as it attempted drastically multiple times to move lower with a series of lower highs and lower lows. With the 20MA converging downward and crossing below the 200MA, price action retested the prior day’s low and finally found a minor area of support in late overnight trading. Pre-market price action continued the bearish momentum heading into the opening bell.
Pre-market Economic news and reports…
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Pre-market price action initially indicated a slight downtrend with lower highs and lower lowers. After the opening bell, price action was very choppy with overlapping bars and so we decided to sit on hands during the morning session.
Mini Market Cycles Analysis: