JimmyJab 💰🍽 Profile picture
Ape - Options Trader - Future Millionaire (On the road to financial freedom)
Jul 19, 2022 5 tweets 4 min read
🧵There is no indicator that can replace reading price action. (MACD, RSI, EMA's, etc. All lag!)

The only things that are real time are price and volume.

Try it. Take indicators off and look for

Higher Highs and Higher Lows in uptrends

Lower Highs and Lower Lows in downtrends For reversals into a downtrend, look for a Lower High and a Lower Low

For reversals into an uptrend, look for a Higher Low and a Higher High
Apr 12, 2022 9 tweets 4 min read
My win rate has gone up significantly this week by focusing on a few key things. I'll share them here in a thread to hopefully help other traders learn a little bit and to avoid some costly mistakes from poor entries.

First thing I look for when pulling up a chart is... 1. Levels/VWAP

-Is the price action above VWAP and in an uptrend? If so, I look to play calls on a bounce off of a support level.

-Is price action below VWAP and in a downtrend? If so, I'll enter puts on a bounce off of a resistance.

There's more to it than that though...
Apr 11, 2022 9 tweets 3 min read
🧵 Trade recap for my 60% gainer on SPY today:

After seeing a very bearish candle from 2:50-2:55, I drew a resistance level under VWAP once I noticed SPY was rejecting at the same area as it did 4 times earlier in the day (2 of which I actually entered puts on for SPY/QQQ). I had taken a few trades earlier in the day with similar setups, but all ended up being quick in and out plays because it couldnt break the support level at 441.25.

Price action was mostly choppy and range bound. So why did I trade this setup? Multiple reasons.