This is why levels is the only thing that matters. Old support from 1/29 & 1/30 acted perfectly today as another support zone. These areas give you the highest probability of a reversal 👆
This is why we trade flags only. You don’t need indicators, flow, level 2, and all that other fluff. stick to the basics.. Support & resistance 👇
Support & resistance. THE ONLY TA YOU NEED. 508.51 major level - Why is it a major level??? We bounced off it numerous times a s support AND resistance on a higher time frame. Yesterday we held that level FOUR times and created a WEDGE into that support. This will always be a high probability setup with a great R/R. $SPY $QQQ Calls printed at open 👇
levels playing out perfectly. This is why you NEED to chart out the important support / resistance levels! QQQ bouncing right off old support from the other day. This is where i took profits on my puts
old support acting as new res
$SPY chopping here. This is what you want to avoid if you're not a scalper. Wait to play the breakout up or down
Trying to break but no volume when it gets near resistance which leads to a breakdown