Every Day we use the following Scalp Trading Strategies…
Top-down approach starting with using the 30-minute charts. Price action rallied yesterday during the normal trading hours and remained very bullish all day as the 20MA continued to converge above the 200MA.
Yesterday’s price action during normal trading hours consolidated in an all-day triangle pattern inside a mini market cycle phase 4 downtrend with lower highs and lower lows. After hours continued the bearish momentum based on economic, political and social events that pushed price action aggressively lower. After finding some minor support, price action retraced back above the 20MA and 200MA and continued upwards with bullish momentum towards a 100% retracement heading into the pre-market and opening bell.
During pre-market, price action tested the prior day’s high area on multiple attempts after the strong 100% reversal and retracement overnight. With the markets consolidating on the Daily chart near all-time highs, price action showing early signs of exhaustion.
The 20MA continued to slightly below the 200MA on the macro timeframe as price action probes the prior day high area.
After the opening bell, price action aggressive reversed from underneath the opening bell and we took an ultra-aggressive trade LONG based on the Opening Bell breakout and 3BR candlestick pattern and we captured 2.0+ points.
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.