This is without doubt one of the best ways I like to see price set up for TST/BOF reversal trades from an S/R level.
We discussed this briefly in a related article – https://yourtradingcoach.com/trading-process-and-strategy/higher-quality-breakout-failure-trades/
But let’s look at an example from this week’s trading.
We’ll start with a higher timeframe chart to give some context, with the market currently eight minutes into the session.
Let’s see the market open on the Trading Timeframe chart.
Take note of the way that price approaches an S/R level.
The more that price has to stretch to reach it, the better.
This is a trade I do NOT want to miss.