Do traders use Point and Figure charts to identify support and resistance levels when selecting short strikes for options trades?

Point and Figure charts remain a classic technical tool for identifying clear support and resistance levels by filtering out minor price noise and focusing solely on significant directional moves. These charts use columns of Xs for rising prices and Os for falling prices, with box sizes and reversal criteria that traders adjust based on volatility. Support forms where multiple Os reverse into Xs, while resistance appears at levels where Xs fail to continue higher. This method can help define zones where price may stall, offering a visual framework for strike placement in range-bound strategies. However, in the fast-moving environment of daily index options, pure reliance on historical Point and Figure patterns often lacks the precision needed for consistent premium collection. At VixShield, we follow Russell Clark's SPX Mastery methodology which centers exclusively on 1DTE SPX Iron Condors. Signals are generated daily at 3:10 PM CST after the SPX close, using three risk tiers: Conservative targeting $0.70 credit with approximately 90 percent win rate, Balanced at $1.15 credit, and Aggressive at $1.60 credit. Strike selection is driven primarily by the EDR Expected Daily Range indicator, which blends short-term implied volatility from VIX9D with 20-day historical volatility to forecast the day's likely move. RSAi Rapid Skew AI then refines these levels in real time by analyzing current options skew, VWAP positioning, and VIX momentum to match exact premium targets. This combination delivers mathematically optimized short strikes far more effectively than static chart patterns. The ALVH Adaptive Layered VIX Hedge provides essential protection across volatility spikes with its three-layer VIX call structure rolled on specific schedules. Our Set and Forget approach means positions are defined at entry with no stop losses or intraday management, allowing Theta Time Shift to handle any recovery through forward rolls to 1-7 DTE on EDR signals above 0.94 percent or VIX above 16, followed by rollback on pullbacks below VWAP. Position sizing remains capped at 10 percent of account balance per trade to maintain disciplined risk parameters. While Point and Figure charts can supplement broader market context, they are not part of the core VixShield process which prioritizes real-time volatility data and proprietary signals over traditional technical overlays. All trading involves substantial risk of loss and is not suitable for all investors. Explore the full methodology, including access to the EDR indicator and daily signals, by visiting VixShield resources and considering enrollment in the SPX Mastery Club for live sessions and refined implementation guidance.