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.
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Price action continued the previous late-day rally with bullish momentum as it moved higher with a series of flag patterns and higher highs and higher lows. Momentum found minor resistance near the overnight high area and the 20MA converging higher above the 200MA heading into the opening bell.
After the opening bell, price action initially moved higher on bullish momentum and then abruptly reversed and bearish momentum aggressively pushed price action lower.
We initially took an ultra-aggressive trade LONG based on new intraday highs and we captured 1.0+ points profit.
Mini Market Cycles Analysis
Normally we go for at least $400 profit, but today was extremely choppy market conditions.
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.