Footprint Chart Trading: Failed Breakout vs. Strong Breakout | Axia Futures

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Brannigan leads this footprint chart trading session and reviews a recent failed breakout in the gold futures market on the 14th of June 2018, followed by the next day giving a strong breakout to the downside. Using the footprint chart to conduct this review, we are able to see and learn how to identify a strong breakout in contrast to a weak breakout that is potentially setting up for failure.
The gold market started within three weeks of a contractionary phase and unusually tight weekly value areas on the market profiles. Looking at the 30 minute candlestick chart, we can see that the $1307.8 level acted as the previous week's high, a double top, and the key break point for a double inside week breakout.
Moving over to the footprint chart, it shows us exactly what happened at each bid and offer, and how buyers and seller interacted during the break. For a strong break we want to see initiative step into the market and show a high volume of exchange taking place as larger time frame participants enter on the same side. Instead, on this first break, we see an equal selling pressure meeting and all buying being absorbed.
The market then consolidated for 2 and half hours and on a second attempt, again saw all the buying be absorbed. With a good deal of participants having gone long and someone having taken the other side, a future move down becomes increasingly likely.
The key takeaway here is that these clues were given on the Thursday, and when the day's low was broken the next day, longs stopping out added to the momentum for a successful breakout. In both instances, of the failed breakout and a successful breakout, the footprint highlighted and told the story along the way, helping us to piece together an understanding of how participants were positioned and who was really in control.
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[@gennytrickett1580]

Learning so much!!! Now I know what absorption looks like!!!

[@giacomocambrini6374]

Another great video, thanks a lot

[@therealdealtrader7389]

Your footprint training transformed my live stream trading.

[@AxiaFutures]

Thanks for supporting and we're glad we could help you on your trader journey!

[@patriciadurigao9476]

NIce

[@MalcolmFMQ]

You are just explaining the charts without any tradable setups. For instance, 15:30 there was a sell-off with light color footprints. Then there was an absorption in the next candle - buyers stepped up. To me, this sounds like a reversal. But it sold off again. There was no explanation or prediction on what to expect before it sold off. Was it a continuation or rejection? Throughout this whole analysis, you explained nothing especially on how footprint helps us to trade, just a narration of market movement.

[@profitsgalore1624]

3:00

[@jaredhosford7867]

The crux of the matter ...

[@jaredhosford7867]

When it goes down it's a 'breakdown' not a breakout.

[@AxiaFutures]

Thanks for watching our video's and your feedback :)

[@attiqkhan2370]

Absolutely a piece of rubbish

[@johnherbert7912]

lol

[@alexw2823]

lol