Failed breaks on the ASX open
Opening auctions can print beyond overnight levels and reverse — how we mark them in session reviews.
Australian equity opens often gap through levels that looked solid on the overnight chart. A coach’s first question is rarely “did it break?” — it is “did the break survive the first hour?”
In reviews we mark the opening range separately from the prior day’s consolidation. A print beyond resistance in the first fifteen minutes that is fully reclaimed by the first hour is logged as a failed break, not as a retest opportunity for longs. The educational value is recognising that auction noise is not the same as accepted value above the level.
When a genuine break does hold into mid-morning, the retest may arrive later in the Sydney afternoon or even the next session. Forcing a same-bar retest entry on a thin open is a common error we correct in clinics.
Keep the open in its own column of the journal. Your breakout criteria for 11:00 behaviour can differ from your criteria for 10:05 — and they should.