Today has turned out to be an inside day, remaining within yesterdays range. This has lead to lower volume and less opportunities. However, recognizing key daily support and resistance levels resulted in us participating in only the higher probability trades today and staying away from the ones going into those key levels (as we expected those levels to continue to hold for the time being due to low volume and volatility). Check out the video below for a look at those higher probability setups and what the daily levels have meant to us lately:
As you saw in the video above, the key levels have been important to have a good understanding of today. And in all actuality, those levels have played a big role in our decision making over the last few weeks. For example, we knew not to go long once we got too close to 1880 last week, but once we broke through it the sky was the limit and we had some beautiful longs. Being able to be aware of the bigger picture has definitely been beneficial to us lately. That will be one of our big lessons at the bootcamp next week. We will be going in depth about how to best recognize the bigger picture, along with many other lessons.
This bootcamp is FREE to all of our members, whether you are in the Self Paced Program or the Pro Traders Challenge. Make sure to get signed up now so that you are able to participate in this special event.