Playing morning range breakdowns

[Soultrader]

In a choppy morning session, I will usually bracket prices by taking the morning low and high indicated by the two dotted blue lines on the chart below. Instead of getting chopped around the entire morning session, simply place a buy order above the highs and a sell order below the lows. Notice that the markets did break lower for roughly 50 points. One of the key elements of trading success is patience and identifying a market with opportunities from a market with no opportunities.