Dislikedhi alfonso! great thread going on here.. i wonder if i can get your input regarding the sp charts. basically my main Q is if the daily zone i marked is a valid zone to look for some bulls strength or is it just a speed bump on the bears way further down? (bc recent high is all time high and not a reaction to any zone on the left im a bit hestiant to say that the trend has switched to downtrend on HTF ,also no real demand has yet to be broken..thats basically why im still not sure i can treat it as a speed bump ) if bears do over come this area,are...Ignored
I don't trade that kind of patterns. I mean, I don't look at past supply becoming possible support for a demand area. I don't take entries like that. I know some people are doing that, I am not.
If on that area of historic supply there is a new imbalance to the buy side with brand new demand absorbing previous supply, then I will think of going long, else I won't. This is just "my way", there are many other ways. I try to keep it as simple as possible.
In fact I am short on S&P Mini from yesterday, but I was not available after NY Open to comment on your message sorry. I had planned a short at the top speedbump supply on H4, but it dropped like a rock and no pullback.
Set and Forget supply and demand trading community