To be clear,  supply zones

    QQQ Supply 292.85-294.67

    Posted by steve on 3rd of Dec 2022 at 07:54 am

    To be clear,  supply zones are where I would look for resistance and thus some type of pullback.  Thus I look for near term puts.  Opposite for demand zones.  Additionally, I often look at VIX structures and price patterns that have formed into such zones.

    For example, on Thursday I posted a supply zone and rising wedge formation into that area. As I posted that afternoon, I favored a move down which occurred on the monthly payroll report.

    Friday afternoon I posted a supply zone for ES that missed by 1 point prior to dumping 15-20 points. So missed that trade BUT then posted a supply zone for QQQ that was reached a then pulled back producing a nice day trade.  Those who waited for QQQ to fill its gap would have missed that pullback.

    Please understand that nothing is perfect but you most often get a reaction from fresh zones. Key is remaining consistent with allocations just like system trading.

    I'm away until Tuesday so best wishes to all.

    Remember this chart must be

    Posted by srusso1 on 3rd of Dec 2022 at 01:14 pm

    Remember this chart must be a supply zone up here somewhere?

    Thanks STEVE Can you please do

    Posted by arun on 3rd of Dec 2022 at 10:35 am

    Thanks STEVE

    Can you please do a video on identifying supply zones 

    Maybe add it to education section as well

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