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.
Overnight price action continued to move slightly lower with a series of lower highs and lower lows while hugging the 20MA. After a multiple day uptrend, price action is retracing inside the prior day’s range and has probed below the prior day’s low heading into the pre-market and opening bell. The 20MA has crossed below the 200MA and continues to converge downward.
Pre-market Economic news and reports…
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After the opening bell, price action continued the mini market cycle phase 4 from premarket. We patiently waited for a lower and candlestick reversal pattern and took an aggressive SHORT. Momentum went in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: