Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action found minor support yesterday during the normal trading hours and bullish momentum pushed price action high as it retraced off a prior low established last week. During after-hours and overnight, price action consolidated in an extended triangle pattern near the prior day’s high area and heading into pre-market and the opening bell.
During pre-market, price action consolidated inside an extended triange pattern on the 30-minute chart heading into the opening bell.
The 20MA continued to be aggressively above the 200MA heading into the opening bell.
Pre-market momentum was slightly bullish. After the opening bell, price action found minor resistance and moved lower below the opening bell with a series of lower highs and lower lows so we took an ultra-aggressive SHORT based on flag pattern breakdown and we captured 2.0+ points.
Note: Huge economic news impacted price action with FOMC emergency rate cut.
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.