About 1 minute into the NY session, we have a strong AUD (orange line) with momentum (steep line to the far right) and the EUR (pink line) is weak also showing current momentum to the downside.
By the time we see the momentum on our indicator, you could have entered anywhere from 1 minute to 3 minutes into that opening price bar. The move was over 60 pips total.
However, worst case scenario if you waited until the close of that price bar, you still would have had a 27 pip move down before any pull back.
When you watch the entire video analysis below, I’ll show you another profitable breakout trade from today’s NY session: