Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Yesterday, price action initially rallied after the opening bell and continued shows signs of exhaustion as price action retested the all-time high area and found significant resistance and rolled over. Momentum pushed price action lower after the first hour and continued with it crossing below the opening bell and the 20MA. After an extended flag pattern during the doldrums, momentum continued to push price action lower in the late-day sessions with a mini market cycle phase 4 downtrend and new intraday lows. After-hours and overnight price action consolidated after finding minor support and oscillated around the 20MA inside a triangle pattern heading into pre-market and the opening bell.
During pre-market, price action continued to remain inside an overnight triangle pattern and continuing to consolidate around the 20MA.
Price action oscillated inside the triangle patterns with the 20MA below the 200MA.
After the opening bell, price action aggressively moved lower and crossed below the pre-market flag pattern lows and we took an ultra-aggressive trade SHORT based on the new intraday lows and we captured 6.0+ 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.