Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action initially rallied yesterday during the first hour and found significant resistance and retraced 100% back towards the opening bell in an extended flag pattern. After-hours momentum pushed price action higher and continued overnight as it crossed above the prior day’s high and continued to move in a mini market cycle phase 2 uptrend heading into pre-market and the opening bell. The 20MA continued to converge upwards aggressively and away from the 200MA.
During pre-market, price action moved slightly lower in a mini market cycle phase 4 downtrend with a series of lower highs and lower lows heading into the opening bell.
The 20MA continued to below the 200MA heading into the opening bell.
After the opening bell, price action consolidated sideways oscillating around the opening bell. After finding minor support near the intraday lows, price action pushed higher above the opening bell and the 20MA. We took an ultra-aggressive trade LONG based on the new intraday highs and the extended flag pattern breakout 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.