Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action consolidated yesterday in a flag pattern during normal trading hours in anticipation of the FOMC results. After the results, price action moved aggressively lower and continued the mini market cycle phase 4 downtrend with a series of lower highs and lower lows extending into after-hours and overnight trading. The 20MA continued to converge lower below the 200MA heading into the opening bell where price action found some minor support near the overnight low area.
During pre-market, price action consolidated in an extended triangle pattern heading into the opening bell with multiple attempts at probing near the lower boundary of the triangle pattern and overnight lows.
The 20MA continued to below the 200MA heading into the opening bell.
After the opening bell, price action moved aggressively higher and crossed above multiple prior swing pivot highs and minor resistance areas from pre-market. We took an ultra-aggressive trade LONG based on the new intraday highs and the opening bell breakdown and we captured 2.0+ 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.