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 find minor support near the intraday lows and reversed upwards and transition towards an uptrend with a series of higher highs and higher lows as momentum reversed almost 100% as price action retested the prior day’s high area. The 20MA initially was converging downward and also turned upwards as it moved towards the upper 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 consolidated in a tight range during the first 60+ minutes, and so we waited for additional weight of evidence and momentum to indicate a direction. We patiently sat on our hands during the first hour.
Mini Market Cycles Analysis: