🟢 Long 5901 💸Learn how to trade rubberband effect failed breakdown 💰🔒💪
Today, we executed a textbook A+ Failed Breakdown (FBD) setup, specifically the rubberband effect FBD. Let me break down why this trade was an A+ setup, how to trade the rubberband effect, and how it all played out:
Plan:
The following trade plan was provided 15 hours ago, before the market opened.
Preparation:
Anyone can trade successfully if they do their preparation and note down the above trade plans. Most of the traders wake up in the morning without doing preparation.
No preparation = No success.
Please do not open your trade account if you did not memorize the ES Game Plan.
Observation:
Once you've memorized the ES game plan, it’s time to observe the market and note down price action.
Note down all the previous lows where ES showed a bounce reaction. I do this task everyday. I keep reminding daily in the ES game plan newsletter to note down previous lows. Do not open your trade account if you do not note down previous lows when you wake up.
The above charts show that ES failed below all the lows shown in blue tag to 5892.50 shown in yellow tag.
I was looking for ES to fail below all the lows to reclaim. You must start thinking in advance about what to look for. We trade FBD and our job is to note down previous lows and to look for ES to fail below previous lows.
When ES started failing below previous lows, my job was to fully focus on the chart and open my brokerage account for trading.
Rubberband effect failed breakdown:
ES bounced from 5892 and started reclaiming each low shown in the blue tag fast. The confirmation is added when every blue tag price is reclaimed.
How to Execute:
I was very confident about the trade when ES started holding above 5899. I traded long near 5901, which has paid till 5916
Rubberband effect trades are one of the best trades. Reclaiming all four lows added more confirmation to the trade.
Discord Real-time Alert:
Result:
🟢💸 Long 5901 to 5916 = 16 points and $800 in profit per ES contract
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