A short thread 𧡠on how you can find your own Key Levels / Supply & Demand Zones with the simple techniques I use. $spy $qqq $iwm
These have played a huge role in the success of my trading and help me out daily to get these big winners you see me review every single week!π
These have played a huge role in the success of my trading and help me out daily to get these big winners you see me review every single week!π
The majority of the levels and zones I use come from these 2 simple techniques i'm going to cover
The 1st are big pivot areas of support and resistance (I use these when price is moving well outside of the previous days H/L range)
The 2nd is my PDH/PDL zones we all love to play
The 1st are big pivot areas of support and resistance (I use these when price is moving well outside of the previous days H/L range)
The 2nd is my PDH/PDL zones we all love to play
I get the bigger levels and zones by looking for major pivot points on the chart. These are areas where price was moving one way then sharply changes direction.
They are easy to spot and create strong levels and zones when the price comes back around to revisit themπ
They are easy to spot and create strong levels and zones when the price comes back around to revisit themπ
You want look for these big pivot areas I mentioned above at the levels that we are likely heading to next.
So when $spy is sitting at 400, look back at all these pivot points between say 385 and 410. Each of them will get a reaction as they come around again.
So when $spy is sitting at 400, look back at all these pivot points between say 385 and 410. Each of them will get a reaction as they come around again.
On Thursday morning when $spy is getting ready to open at 394, I look back on the chart to see where the support zone might be that day using this simple method
The big pivot points at 390 - 391 stick out like sore thumbs. This is the area you want watch as we head towards it π
The big pivot points at 390 - 391 stick out like sore thumbs. This is the area you want watch as we head towards it π
Market opens and look how well the price respects that Zone. Heads straight for it, showing clear cut support and resistance all day. This one zone brings so much clarity to Thursdays price action. All you need is 1 or 2 trades to have a great day and this zone will provide that
Here's a look at how I played that area. I like to trade the break and retest of levels so when we broke below the zone and retested it with a perfect bear flag that was my signal.
I used the on the 2 minute chart with my ema strategy for added confirmation.
I used the on the 2 minute chart with my ema strategy for added confirmation.
Now lets look at the Previous day high/low supply and demand zones.
These are my favorite and anytime we are not seeing massive overnight moves on $spy these are my go to levels! They are a great way to get a gauge on price direction for quick day trades π
These are my favorite and anytime we are not seeing massive overnight moves on $spy these are my go to levels! They are a great way to get a gauge on price direction for quick day trades π
The point of these is to give you a clue on what way is the safer direction to bet on.
When we break the PDL demand im favoring short positions. When we break the PDH supply im favoring long positions. If we don't break either we are in range and i'm looking to play it safe π
When we break the PDL demand im favoring short positions. When we break the PDH supply im favoring long positions. If we don't break either we are in range and i'm looking to play it safe π
Here's an example on $qqq this week
It shows how I mark the zones and what Im looking for coming into the following day, as well as the exact entry after the zone breaks and the direction is decidedπ
It shows how I mark the zones and what Im looking for coming into the following day, as well as the exact entry after the zone breaks and the direction is decidedπ
Here's one more example on $spy of a break to the downside.
Shows the same thing - how I draw them, what I watch, and how I enter once they break π
Shows the same thing - how I draw them, what I watch, and how I enter once they break π
These Levels and Zones combined with my 2 minute ema strategy is the main system I use to day trade full time.
These are simple setups that anyone can learn. Trading is not easy! But you don't need a complicated system to get great results π€ #Team2Trading
These are simple setups that anyone can learn. Trading is not easy! But you don't need a complicated system to get great results π€ #Team2Trading
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