The tape was a tease this morning — flashing momentum, then pulling it back like Lucy with the football. If you didn’t have your levels and bias in check, this session could’ve been death by a thousand paper cuts.
Key Takeaways
Breakdown, Fakeout, Squeeze
- The open looked like a textbook short setup — and it was… until it wasn’t.
- As soon as we dipped below the overnight low, liquidity evaporated, and the squeeze kicked in hard.
Trap-Driven Reversals
- This was a lesson in patience: the first move was bait, the second was the real trade.
- Anyone who got trapped chasing the first breakdown likely fueled the rally that followed.
VWAP Was the Battleground
- Price danced with VWAP all session — if you weren't watching it like a hawk, you were trading blind.
- The reclaim after the reversal was the tell — and it held beautifully for a trend continuation.
What I’m Watching
Heading into the afternoon, I’m watching for a second leg higher — only if we hold above the VWAP. If not? It’s back to range-bound chop, and cash might be your best position.
Good tape if you stayed patient. Terrible if you forced it. Tomorrow’s another round. Bring your A-game.
Until next time,
Garrett Baldwin
TheoTRADE