π‘ Pivot = bias. Above = bull, below = bear. Can act as very strong support or resistance.
π΄ Resistance = reject, or break + hold β new support.
π’ Support = hold, or break β new resistance.
Levels don't vanish, they flip roles. Watch the reaction. π
Recap for 6/18 #NQ $QQQ The 30350 resistance broke clean and flipped to new support exactly the line that mattered. Price retouched it twice (2nd time a higher low), then grinded up to a 30748 high, closing near 30735. Over the pivot = bull, and it stayed bull all session.
Pre-Day analysis for 6/18 #NQ $QQQ
You just need the one line for Support or Resistance. Tomorrow's Pivot line is 30110 (Over bull/under Bear), nearest resistance line at 30350 level. Nearest major Support at 29887 followed by 29656 (consider only if under pivot).
PM Analysis #NQ $QQQ Pivot 30,352 Held clean as support through the morning (longs on every tap). Broke & held below into 2PM session = bias flipped short. Support 30,004 = Swept fast on the flush, regained instantly. Textbook fake breakdown β squeezed back to 30,141.
Pre-Day analysis for 6/17 #NQ $QQQ
You just need the one line for Support or Resistance. Tomorrow's Pivot line is 30352 (Over bull/under Bear ), nearest resistance line at 30786 level. Nearest major Support at 30004 ( consider only if under pivot )
PM Analysis #NQ $QQQ Resistances 30987/31007 = Strong rejections. Easy short scalps on the tap (high 30,975). Pivot 30786 = Solid bias flip. Longs above early, clean shorts once it broke & held below. Deep support 30350 = Swept fast. Regained level and acted as fake breakdown
Pre-Day analysis #NQ $QQQ You just need the one line for support or resistance. Today's Pivot line is 30786 (Over bull/under Bear ), nearest resistance line at 30987 & 31007 level. Nearest Support far at 30350 ( consider only if under pivot )
All of a sudden, Bad news is coming out of the woodwork. But never mind the fact that equity prices were at extreme overbought points not seen in many years.
Sorry, stonks do not go up every day. Some of us were shorting when you were buyingβso what? Be a grown-up and recognize it is your own fault if you did not see this coming.
@Bricktop_NAFO Hold your horses, you even said it, most traders were on highly leveraged positions after 6 months of unabated upside. Wouldnt you think a day like this would happen?
$QQQ $SPY Big move incoming. Squeeze is real at 30 and 1 hr frame with volume compression. We are @ ATH in a seasonally weak period, so guess which side you are on.
$QQQ #NQ that's a pretty steep wedge, indecision candle forming a bearish FVG in the 4H. Is this it? Market at a standstill, waiting for FOMC next week, you know, markets don't go straight up ( bet the farm ).