this is my chance; what an opportunity
An exclamatory phrase used when a favorable opportunity arises, often followed by と or とばかりに to indicate seizing the moment.
Seizing the opportunity, he left the scene.
Seeing the opponent's mistake, they took the chance and attacked.
Compound of これ (this) and 幸い (good fortune, opportunity). The exact historical derivation is uncertain, but the phrase is conventionally used to express seizing a chance.