I don’t want to push this point too much. But let’s do it just one more time.
Because I think it’s important.
Today’s lesson goes out to those who trade the emini futures on low timeframes. Those who read the article a fortnight ago about replaying and studying the session from 10th February, but for some reason chose to skip that advice, and then missed out on (or messed up) the similar opportunity from Tuesday 23rd February.
Here was the 10th February:
And then again this week… except bigger!
Of course, there is more to it than just a simple break of overnight support. The higher timeframe context in both cases REALLY supported the potential for a sell off. No guarantees of course. But strong potential.
Set up your replay facility if you have one. Or else step bar-by-bar through the trading and lower timeframes.
And see if you can FEEL the panic and urgency within the price movement.
Always study pre-break. Was there a way to recognise direction early and get in.
But more importantly, study post-break. Work from the assumption that you missed the breakout and find yourself on the sidelines with price dropping hard. How do you then get in?
YTC Price Action Traders – you know where to get in. And you know why. Standard PB setup, just occurring very quickly through a single candle pullback trap above the prior bar’s high.
In the context of an opening momentum drive, often you need to be ready for one to two candle pullbacks. Hold for more and you can miss out. Context is important!
You can’t know with complete certainty when an opening drive will occur. But you can learn to recognise “potential” for an opening drive. And you can learn to recognise them when they’re happening.
Lessons learnt from past examples will help to ensure that, when the market again offers this opportunity, you’re ready to exploit it and smash this thing out of the ballpark.
This is not about prediction.
It’s about being ready.
So that next time the market gifts you an opportunity, you’re ready to take it.
One last time – repeating a social media post from January, when the market provided ANOTHER of these opportunities.