A trader walks through a live trade, moving his position to breakeven after rejection, then targeting $67.80 as price breaks past fair value. He explains how to spot a failed auction and use liquidity zones to confirm a breakout.
I want to see sellers being present and they're not at the moment. Oh, okay. Let's see how this auction is going to unfold. This is very important. For now, it's rejecting, but I want to see more buyers engaging as this breakout unfolds. I'm putting my trade to breakeven, guys. This is, this is a good aggression. Then we had aggressive sellers taking control. Okay. But now I'm confident we can put the breakeven. Yes. So let me take this trade now. We paid back our stop loss for today and are now running slightly in profits. Let's see if we're going to be able to break above here. From the liquidity side of things, we have some targets still. To fill out, I can expect that we'll walk through these areas and maybe reach $67.80. That could be a good target. Okay, but we have a clear, a very clear and beautiful auction. I wish all auctions were like this. But whenever you see signs of the auction changing, because, you know, this was a clear situation of fair value. But when we failed to auction, to keep auctioning here and we had a big rejection and we broke outside, that's when I can confirm it's a breakout and I'm really willing to engage and join the party.
