I seriously love an opening momentum drive!

Even when I miss the initial entry.

Let’s look at the charts…

<image: Breaks against Bias>

<image: Breaks against Bias>

<image: Breaks against Bias>

<image: Breaks against Bias>

<image: Breaks against Bias>

I don’t get paid for disappointment or frustration.

Let it go. And FOCUS.

Remember… in a momentum drive, initial breaks against bias often fail.

Here’s my thought process:

  • The First Principle is in play. And there is significant bearish strength in this move.
  • The market is unlikely to v-turn higher.
  • So any price structure which might break higher and tempt reversal traders to enter, has good potential to fail. At least for a retest of the lows.
  • The failure of their trade gives me opportunity to enter, for continuation back in the momentum drive direction.

Stay focused.

Adopt the mindset of someone looking for early entry LONG. Where might they get in?

And then… once they’re in… where might they start to panic and head for the exit door?

That’s your entry!

<image: Breaks against Bias>

<image: Breaks against Bias>

<image: Breaks against Bias>

<image: Breaks against Bias>

A massive part of this game is in learning to put aside disappointment or frustration, keeping your focus on both the price action and your process.

When you miss the opening sequence and it turns out to be a momentum drive. Remember, breaks against bias often fail!

You missed the first push. Let it go.

If there’s going to be a second push, make sure you catch that one.

Happy trading,

Lance Beggs

 


 

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