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.
Overnight price action continued the momentum downward with lower highs and lower lows and multiple flag patterns.
Pre-Market Price action developing a nice flag pattern with lower highs and lower lows.
By us being below the prior day’s range, we watched our ES 5 Minute Complete rules and Market Cycle Analysis conditions for more evidence of SHORT setups from Candlestick analysis, chart formations and patterns and price action.
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we took a marker lot position SHORT in pre-market and price action went in our favor and we took 2+ points profit.