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.
Price action reopens on Sunday afternoon and continued the mini market cycle phase 2 momentum with price action remaining above the 20MA and the prior day’s high. With momentum continuing from a multiple day uptrend and a series of higher highs and higher lows, the 20MA is extended away from the 200MA as price action potentially retest the previous upper boundary of resistance in the area of 2788. Overnight price action continued to move sideways heading into pre-market and the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated in a tight range before building momentum and continuing the mini market cycle phase 2 from pre-market. We took an aggressive LONG entry based on a breakout and new intraday highs. Price action slowly moved in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: