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.
Overnight price action continued to retest upper boundary of price action at the prior day’s highs.
Pre-Market Price action slowly rolling over heading into the opening bell and forming a triangle pattern.
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With price action giving us a simple candlestick setup on the 5-minute chart, we take a marker lot SHORT and close the trade at breakeven since there is no follow thru.