Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action re-opened Sunday afternoon and gapped down significantly as momentum continued the mini market cycle downtrend and phase 4 with lower highs and lower lows overnight. Price action remained below the downward converging 20MA as it remained below the 200MA. Overnight momentum found some minor support and consolidated in a flag pattern heading into pre-market and the opening bell.
During pre-market, price action consolidated inside an extended flag pattern off the overnight lows and moved back towards the 20MA heading into the opening bell.
The 20MA continued to be aggressively below the 200MA heading into the opening bell.
During pre-market, price action continued the bearish momentum and we took an ultra-aggressive SHORT based on flag pattern breakout and we captured 2.0+ points.
Mini Market Cycles Analysis
Normally we go for at least $400 profit with 1 contract and more profits with 2+ contracts each day and adapt or adjust based on the intraday market conditions to make it easier for pursuing our Daily trading goals.
Why is $400+ the magic number every day?
Because with discipline and focus every day, you compound your profits and start making $2,000+ every week or $100,000 after 50+ weeks. So every day…follow us and start your journey towards making $400+ every day.