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.
Price action continued yesterday in the multiple day mini market cycle phase 4 downtrend after retesting the previous day’s swing pivot and intraday low area. For a second consecutive day, momentum found minor support during the late day session and retraced off the intraday lows and crossed above the 20MA. Overnight price action continued to consolidate around the 20MA as it converged back towards the middle of the prior day’s range and the 200MA heading into the pre-market and opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action moved high in an uptrend and crossed above multiple prior swing pivot highs. We patiently waited for confirmation of a flag pattern with a higher low and we took an ultra-aggressive LONG entry based on new intraday highs. Price action slowly moved lower and we captured 5.0+ point profit in each trade.
Mini Market Cycles Analysis: