Short transcript excerpt from a YouTube video where two speakers discuss the importance of having a trading playbook and define entry criteria. The excerpt focuses on an opening-range breakout playbook and how market conditions — specifically gaps relative to prior day low/close — influence whether to take the trade.
Having a playbook in the market is very, very crucial. So if I have a playbook for, let's say, an opening range breakout, my question for that playbook would be when does this strategy or when does this playbook become.
In effect, my.
Entry criteria for or market conditions would be the.
Market would have to maybe gap up. Now, if the market has gapped off from yesterday's low or yesterday's closing session, most of the time I'm now in.
A trading criteria.
Zone, then my second entry criteria would be seeing volume above average, us breaking above my huge supply zone, or my huge level that I have established with extreme amount of strength or buying pressure. If I can identify those things and put it together now I have a certain setup, certain playbook that is effective for me to trade.
