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 similar to last Sunday. Price action found minor support and then started to fill the gap in overnight trading as momentum crossed above the 20MA and continued to fill the gap 100% and eventually crossing above the prior day’s high area before finding minor resistance. During the early morning trading, momentum revered and retraced off the overnight highs back below the prior day’s high and below the 20MA heading into pre-market and the opening bell.
During pre-market, price action consolidated inside an extended flag pattern 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.
Pre-market momentum was slightly bullish with confirmation of higher highs and higher lows so we took an ultra-aggressive LONG based on flag pattern breakout and we captured 4.0+ 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.