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 initially moved higher with a series of flag patterns heading into the FOMC announcement. The initial reaction caused momentum move above the prior day’s high before rolling over and drastically selling off and crossing below the 20MA and the prior day’s low area. Bearish momentum continued in after-hours before finding minor support and retracing off the overnight lows. Price action continued to retrace and cross above the 20MA and back inside the lower 1/3rd of the prior day’s range heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action moved high in an uptrend and crossed above multiple prior swing pivot highs. We patiently waited for confirmation of a flag pattern with a higher low and we took an ultra-aggressive LONG entry based on new intraday highs. Price action slowly moved higher and we captured 5.0+ point profit in each trade.
Mini Market Cycles Analysis: