I'm a support and resistance supply and demand trader. I try and keep things as simple as possible on my charts. The backbone of my strategy is using gamma levels for support and resistance. As you can see on my chart gamma levels are represented by the orange broken lines. Lately all I've been trading is $SPY.
For support I have $627 to $630 as support levels for $SPY. Meaning until $SPY loses those 2 levels then i get bearish. And expect some downside. Current resistance is at $638. Momentum is currently going up and I've been following and making money off of momentum. Up and down. It doesn't really matter to me. I can see $SPY test $640 on Monday unless we have a news driven event that affects the market. This coming week (Aug 11-15th) we have CPI on Tuesday (8/12) and its OPEX week as well.
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