“It’s like deja vu all over again” was one of many quotes from the former New Yankee player and manager Yogi Berra, who put more emphasis on work ethic and results, than on style and appearance. I thought that quote apropos in describing the market action we highlighted today in our Live Market Exercise, given it was so similar to yesterday’s focus.

Very simple; identify a market already moving in the same direction on those higher time frames, wait for a price dip to support. Except the risk. Take advantage of the ensuing rally.

Stay focused on holding a position in the same direction as those higher time frames. Do not allow yourself to be distracted. Be patient and stayed relaxed with the understanding that delayed gratification — holding a postion –pays better than instant gratification — trying to jackrabbit in and out on a retail spread.