SPY is still an inside month, with a bearish tone.SPY is still an inside month, with a bearish candle. More down side is likely.
Using Strat Radar, we get an X-Ray view of what algos are doing with price action on different time frames.
On the weekly chart, price retraced to a previous bearish order block, then presented a 2 up + 2 down reversal opportunity, it played out nicely.
On Thursday, SPY daily chart has a 3-1-3 reversal pattern. One could use 15m/30m or 1h TF to find an entry for a short. Strat Radar clearly shows that FTFC - Full Time Frame Continuity - is to the down side.
It's important to remember that we don't know what the market will do next. However at key levels if we think there is a high probability that something may happen, we wait and let price action confirm our thesis. Of course we can still be wrong, that's why risk management is paramount.
Price action tells the truth.
