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 reopened on Sunday afternoon after the holiday and continued the multiple day consolidation on low volume. With the sideways price action, momentum found minor support and eventually crossed above the prior day’s high with the 20MA starting to move upwards above the 200MA. Price action retraced off the overnight highs with a flag pattern 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 sideways and then built momentum to push higher towards new intraday highs after closing above the 20MA and the swing pivot high. We waited for the 1-minute charts to confirm momentum above the opening bell and we aggressively took a LONG entry based on an new intraday highs. Momentum moved in our favor and we easily captured 2.0+ points profit.
Mini Market Cycles Analysis: