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 moved lower in the late day session yesterday and complete a mini market cycle phase 4 downtrend before finding minor support. After-hours momentum bounced with a higher swing pivot low area and momentum crossed above the 20MA and continued to form a series of higher highs and higher lows as it tested the prior day’s high area. The 20MA converged higher above the 200MA as price action moved upwards in pre-market and into the opening bell.
Pre-market Economic news and reports…
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Pre-market price action indicated strong mini market cycle phase 2 uptrend with bullish momentum. Once price action reversed and closed with and closed above the opening bell, we looked for breakout above previous resistance and an ultra-aggressive setup with price closing above the opening bell. We patiently waited for more weight-of-evidence and confirmation of a higher low. We took an ultra-aggressive entry LONG based on the prior-bar high breakout and price action went in our favor and we captured 1.0+ points profit.
Mini Market Cycles Analysis: