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Lately, I haven’t had as much time as I’d like to trade during our Profit Panel sessions.

Between everything else on my schedule, I’ve spent more time watching than trading. But Wednesday morning’s action immediately caught my attention.

Both SPY and QQQ opened with sizable gap downs.

Whenever I see that, my first question is always the same: Are we setting up for a gap fill?

Sometimes the answer is yes.

Sometimes it isn’t.

That’s why I wait for the chart to prove it.

The Retest I’m Looking For

On QQQ, the pre-market session left a clean wick that lined up almost perfectly with a key moving average.

That’s exactly the type of level I want to monitor.

Rather than jumping in immediately, I prefer letting the opening volatility settle. I’ll often wait for the first one-minute candle to close before making any decisions because those opening moves can be nothing more than noise.

If price comes back, retests that area and successfully bounces, that’s when my setup becomes valid.

The deeper the pullback into that support zone, the more interested I become. Strong reversals often begin after the market shakes out impatient buyers before finding support.

SPY was showing a very similar picture.

Multiple pre-market wicks lined up with nearby support, making both indexes worth watching for the same type of confirmation.

The Trade I Didn’t Take

I’ll admit something.

My gut told me the market wanted to move higher.

But I don’t trade gut feelings.

I trade repeatable setups.

By the time I came back to the screen, QQQ had already rallied above the moving average. At that point, my entry was gone.

Could it have continued higher?

Absolutely.

But that wasn’t the trade I planned.

I don’t chase price simply because I feel like I missed something.

My process is straightforward: Identify the gap, mark the pre-market wick, wait for the retest and only enter after the bounce confirms.

If that sequence doesn’t happen, I simply move on.

Missing a trade has never hurt my account.

Abandoning my process has.

There will always be another setup tomorrow. My job isn’t to catch every move. It’s to wait for the ones that meet my criteria and ignore everything else.

P.S. Want to see what my brand-new scanner is flagging before it goes public? Tap here to join Ezra’s Telegram channel for free and catch the next live signal in real-time.

To better trading,

Alex Reid
WealthPin

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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

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Disclaimer: The trades expressed are based on signals from Oracle in real time. While we have been using this tool with great success in our own trading including an 85.57% win rate, a 28% average return of winners and losers over a 4-day average hold time, and a profit factor of 5.94 on real money trades between 5/7/26 and 7/17/26, there’s bound to be winners and losers along the way. Since Oracle is a tool for traders and not a trading service, profits and performance will vary among users. Trade at your own risk. See our Terms on the homepage for more information.