Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action rallied yesterday during the normal trading hours after breaking out of a pre-market flag pattern and the 20MA continued to converge above the 200MA.
After the opening bell, price action continued to consolidate with multiple attempts to break above the descending trendline area. Once momentum pushed price action higher, the markets continued the multiple day mini market cycle phase 2 uptrend.
During pre-market, price action continued to remain above the prior day’s high area and on multiple attempts, found minor resistance heading into the opening bell.
Price action crossed below a major trendline and the 20MA crossed below the 200MA heading into the opening bell. The 20MA continued to slightly above the 200MA on the macro timeframe as price action probes the prior day high area and finding minor support.
After the opening bell, price action consolidated sideways around the 20MA and slightly below the opening bell. After a series of lower highs, we took an ultra-aggressive trade SHORT based on the new intraday lows 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.