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.
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