Here’s the QQQ to trading range days!
$Invesco QQQ(QQQ)$ Here’s the ticket to trading range days! This is a complete recap of how we navigated and walked through this move today ⬇️
• Range day = price trades between the previous sessions high / low.
To help determine direction, mark the pre market high / low (highest & lowest price between 4am & 9:30 am eastern time)
Watch the previous days low for support. If price holds that PDL support we are likely looking at a “range day”. When this happens buyers often step in and bring price up to the top of that range at the PDH.
Next watch that pre market high for the break! This adds confirmation on strength and direction.
Last look for your dip entries to ride this move up to the top of the range. For me that’s usually the 13ema pullbacks on the 2 minute chart.
Here’s the chart breakdown illustrating this technique 👇
$SPDR S&P 500 ETF Trust(SPY)$ $iShares Russell 2000 ETF(IWM)$
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https://x.com/cs_tradess/status/1800232935087566887
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