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.
Today, pre-market price action already had give up a strong sign of trending downward in pre-market from international economic news and the markets reacted negatively.
With Price action already below the prior days low in pre-market, we were looking for a quality setup to take a quick trade and profits without risking our great gains for the week.
We get a ES 5 Minute Strategy setup to give us a SHORT entry today.
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The initial setup provided a profit target of 2+ points (but with a bigger position size, i.e., more profits).
If you manage the trade correctly…there is more profits to capture.