Not really. This is why people shouldn't buy breakouts.
Buyers of today's breakout on the daily are getting / got SMOKED.
Breakouts on the daily do work but on yesterdays breakout there were some elements that should have signaled an earlier pause,
Not really. This is why people shouldn't buy breakouts.
Buyers of today's breakout on the daily are getting / got SMOKED.
Breakouts on the daily do work
I have found daily charts great for day trades. Breakouts. Failed breakouts. If I'm not married. To a thesis. I have no problem. Buy breakout. Small loss. But short failed breakout. On five minute chart usually a "heads up".
Want to thank you @Zodiac4u for bringing up SPY a couple weeks back. Been watching both. SPY and ES. Side by side charts. I thought ES was boss. More I watch. the more I think SPY the boss. During day time trading.

$SPY is also being pulled by Options, we are all just watching shadows of something else
I see this talked much about on Fintwit. I don't understand this either. But I'm learning. Trying to learn.
Saw this today.
https://www.tradingview.com/chart/SPX500USD/mrkaajpP-S-P-500-Gamma-Update-EOD/
View attachment 273596
I don't understand how this can be used for trading. Some can use I think. So maybe worth learning about?
She just passes on the insider information, her husband is the trader of the year,