Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action consolidated yesterday in a tight range intraday and continued during after-hours and overnight. After retesting the overnight lows and support area multiple times, price action consolidated around the 20MA as momentum pushed price action slightly higher in pre-market and the opening bell as the markets continue to be indecisive in anticipation of the FOMC results.
During pre-market, price action consolidated in an extended flag pattern heading into the opening bell with multiple attempts at establishing minor support in the overnight lows area.
The 20MA continued to converge below the 200MA heading into the opening bell.
After the opening bell, price action moved higher and crossed above prior pre-market flag pattern highs and minor resistance and we took an ultra-aggressive trade LONG based on the new intraday highs and breakout and we captured 1.0+ 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.