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.
Overnight price action retested the prior day’s high and found an upper boundary of resistance causing price action to reverse in the direction of the path of least resistance. Momentum started to transition to a downtrend as it crossed below the 20MA heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action initially moved higher and after a few minutes, a dramatic reversal occurred and momentum turned extremely bearish and moved lower with a series of lower highs and lower lows from flag patterns. We patiently waited for the flag pattern setup and to an aggressive SHORT entry. Momentum continued to move lower and we took 2.0+ points profits.
Mini Market Cycles Analysis: