Hello, I will be posting my regular daily analysis for S&P500 or US30 depending on the day (whichever looks good to trade) and will be sharing my trading ideas - before NY market can open. I hope traders can learn how to analyse using Supply & Demand along with price action from what I post here regularly.
Your support, resistance, key levels, profit take levels etc, how are you determining these, with math or algos or manually or some other method?
Buy here is wide boxed area, why would OP think that is helpful?. And price numbers are washed-out grey looking blur!!!
I use levels that are supply & demand zones (small candle before a big move, volume candle) and use price action (momentum, market structure, liquidity available etc.) to determine a good key level each day to either buy or sell. Today my bias is to buy - from that marked zone - which was respected before (wicks).
%% HARD to read some else's charts\ especially if they do like WSJ charts+ use black + grey. barchart has SPY =40%buy which is a 60% sell; but noted SPY 200dma is a buy. Most of 2023 has SPY closed under200dma. But looks like V-Pres Alan Blinder seems to see very well/ he noted ''Happy New Year, '' in JAN WSJ. Put another way, SH [short SPY ]looked better in 2022 than 2023, so cut that small loss. Good uptrend in MSFT exit/above 50 dma, before earnings date this week.
%% As of noon SPY is above 200dma\ SH+ qqq is below 200 day moving average. QQQ/ up for the week.[WED,,1/25/2023]