Trade Breakdown 6/12

(back to the process)

Last night I was going over my charts and spotted more favorable levels on QQQ so I decided to focus on that ticker today, instead of SPY.

The corrective activity looked a tad cleaner as well. Here’s SPY and QQQ from Friday:

From my POV, the Q’s were giving us cleaner tells. Better wick action and better exhaustion clues. So, if I can get edge there, I’ll take it.

Price comparison tool reveals the correlation.

Enough of that, let’s jump in the step by step breakdown.