There are times and places where our focus can be more relaxed. And times and places where the market demands that we are fully engaged in the price action.

The first break against a momentum drive is one of the latter.

I was ready for a potential momentum drive right from the open.

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

The YTC Price Action Trader First Principle applies here, but the context (potential momentum drive) requires that we be willing to accept a very short pullback. Waiting for a “normal” pullback structure comprising multiple candles, means you will more than likely miss out. In a momentum drive from the open, or following a news release, expect 1-2 candles at most until proven otherwise.

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

<image: First Break against a Momentum Drive>

There are times and places where our focus can be more relaxed. And times and places where the market demands that we are fully engaged in the price action.

The first break against a momentum drive is one of the latter.

Watch closely to confirm no evidence of reversal orderflow. And prepare for entry should you see price roll over to continue the momentum drive.

Happy trading,

Lance Beggs

 


 

Similar Posts

2 Comments

  1. Hey Lance,
    I admire you alot.
    Because of you i am having a better understanding of market.
    I just started trading from past month.
    And your YTC ebooks are helping me alot.

Leave a Reply to Lance Beggs Cancel reply

Your email address will not be published. Required fields are marked *