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 was very choppy heading into the opening bell. Watching our 1-minute charts, price action show momentum to the downside with lower highs and lower lows while remaining below the 20-MA.
Once we had confirmation of the lower swing pivot below the opening bell, we took and aggressive SHORT and price action immediately went in our favor and we took 2+ points profit. Markets moving extremely fast.
Markets continued to show weakness and the mini market cycle phase 4 with lower highs and lower lows on the 1-minute charts. Took another SHORT and micro-managed the trade on the 1-minute charts. Took 3+ points profit.
With price action closing below the prior day’s low, we could have managed the trade more carefully for more profits!
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