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.
Yesterday, price action continued the mini market cycle phase 2 uptrend from pre-market after the opening bell and then found an upper boundary of resistance the held temporary the remainder of the normal trading day. During after-hours, momentum retraced slightly below the 20MA and remained inside the prior day’s range before crossing above the 20MA and the prior day’s high to all-time highs. The 20MA started to converge upwards away from the 200MA heading into pre-market and the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action consolidated with lots of choppy, overlapping candlestick bars and probed with “marker-lots” to try and go LONG. Once momentum retraced and formed flag patterns we started to see follow thru. We took an aggressive setup LONG based on flag pattern breakouts and new intraday highs. Price action moved in our favor and we captured 1.0+ points profit on multiple occasions.
Mini Market Cycles Analysis: