A trader walks through intraday market structure, identifying support zones and supply levels from the previous day's price action. He confirms an opening-range breakout using the IVB model's closing-candle rule and plans to move his stop to breakeven once repaid. He'll exit if sell aggression hits 4-5k contracts, but stays in if buying pressure continues.
Yeah, we have yesterday's lows right here. Yesterday consolidation is here. So this was the area of fair value from yesterday. This could be a potential first target. This is going to be our supply. This could be one of the targets. If we break above here, then the next level could be yesterday's point of control could be a target also, because that's also where we have yesterday's gap. But I see sellers already starting to take control on the top. Buyers actually getting aggressive now. That's a good sign. But we got aggressive sellers on the top. I don't like this. It could reverse, guys. Not good yet. We officially broke out of the opening range breakout. If this candle closes with a body, let's say by the official rules of the IVB model, this is one more reason to engage. And at this point, I might place myself at breakeven. We pretty much repaid the stop loss that we just took. Again, this is happening. Going to patiently wait. If I see some aggression, some serious sell aggression, not 1,000 contracts, but like 4,000 or 5,000, then I might consider closing this trade at breakeven and just be done for today's session. If instead we see these aggressive buyers continuing to buy, then I'm chill.
