In a bustling trading room filled with eager students, Coach E stood at the front, ready to impart a crucial lesson... a reminder really as he'd shared this pivotal lesson early on. The whiteboard behind him was covered with charts and technical indicators, but today, he wanted to emphasize something even more fundamental: the importance of market context.
“Before we dive into the specifics of support and resistance,” Mark began, “I want to remind you all of the bigger picture. Understanding the context in which you’re trading is just as important as the technical details. And support and resistance help provide that for your trading.”
He paused, letting the words sink in. The students, a mix of seasoned traders and enthusiastic newcomers, leaned in, sensing the significance of the lesson.
Good... I have your attention. Here are a couple of additional examples...
1) A few days ago, I posted a resistance zone in QQQ.
Today the zone did its job.
2) Similarly, TAOST Intraday Power Zones looked to have gotten ignored for the day.
But the weekly zones certainly delivered.
As I say, TAOST Power Zones don't always work precisely... but nor do Support & Resistance Zones for that matter. Still, the zones are plenty effective for trading purposes.
Trade well.
E