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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Overnight price action consolidated above the prior day’s highs and formed a mini market cycle phase 3. Price action broke below the neckline after the opening bell and on the 1-minute chart had consecutive bearish candlestick bars with no quality setups from reversal patterns.
Took aggressive minimum position SHORT using 1-minute charts. Price action showed no follow thru and we closed trade with 1.5 loss.
Duration: 3+ minutes
Took another SHORT trade with tight stop. As price action slowly moved in our favor, moved stop to breakeven for a “free trade”. Closed trade at breakeven.
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