Somehow, I knew that question would be asked, and that it would be asked by you, josh. Not quite unlike an "obvious opportunity".
Most traders think that price action analysis is the visual examination of charts for price patterns and indicators. All it serves to facilitate is the projection of cognitive biases on price action; it isolates single data points that support the subjective views of the technical analyst about market direction. In most cases, the decision as to whether the chart is bullish or bearish isn't even related to the state of indicators or any chart patterns but to the cognitive bias of the analyst. This is the prediction or forecasting game. Truth is that traditional chart analysis does not carry any forecasting power, but can be instrumental as a risk management tool. Not only does Mr. Market not care about TA, but it will often use it against the trader to trap him.
That being said, an "obvious opportunity" is a trade that is well defined, reproducible, and has a proven edge. You've seen it before and you know it works, and you don't even have to think about putting the trade on -you just react. They're not as rare as one would believe, but then again I watch multiple markets and their correlations, so the opportunities are multiplied.