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 re-opened Sunday afternoon and consolidated in the upper 1/3rd of the previous intraday range as momentum continued the multiple day mini market cycle phase 2 uptrend and tested the prior day’s high area. The 20MA continues to move methodically above the 200MA heading into the pre-market and opening bell.
Pre-market Economic news and reports…
Every Day we use the following Scalp Trading Strategies…
After the opening bell, price action consolidated in a triangle chart pattern and then broke down below the support area with momentum towards new intraday lows. We patiently waited for confirmation of a lower high below the opening bell and then we aggressively took a SHORT entry based on a flag pattern break down. Momentum moved in our favor and we easily captured 2.0+ points profit.
Mini Market Cycles Analysis: