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 continued to retrace of the Friday intraday lows and converged back towards the 20MA. Overnight price action oscillated around the 20MA as it formed an extended triangle pattern heading into pre-market and the opening bell.
During pre-market, price action moved slightly lower in a mini market cycle phase 4 downtrend with a series of lower highs and lower lows heading into the opening bell.
The 20MA continued to below the 200MA heading into the opening bell.
After the opening bell, price action moved aggressively higher and crossed above multiple prior swing pivot highs and minor resistance areas from pre-market. We took an ultra-aggressive trade LONG based on the new intraday highs and the opening bell breakdown 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.