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 consolidated with a 2X top in after-hours immediately after the normal trading activity and transition to a short-lived mini market cycle phase 4. After finding minor support in late night price action, momentum reversed and crossed above the 20MA heading towards the 200MA in a mini market cycle phase 2 uptrend. The 20MA has converged back towards 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 slowly moved lower with new intraday lows as the 20MA converged downwards with the 200MA. With pre-market price action already having moved in a mini market cycle phase 2 and transitioning to a 2X top (i.e., M-pattern), we waited for confirmation of the mini market cycle phase 4 and follow-thru with new intraday low and we took an ultra-aggressive entry SHORT and price action went in our favor and we captured 1.0+ point.
Mini Market Cycles Analysis: