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.
Today, the markets were very aggressive and already trending downward in pre-market from economic news and the markets reacted negatively.
With Price action headed towards the prior days low in pre-market, we get a flag pattern and 3 bar candlestick reversal to give us a SHORT entry today.
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Being patient, the initial setup provided a profit target of 2+ points (but with a bigger position size, i.e., more profits) that was hit after a lower high.