levels for Friday not sure where spy is going to go levels are based on the 4hr timeframe
not sure what to think about today we got important data coming out trying to stay on bigger timeframes
SPY GAPPED DOWN -Dont chase puts, wait for a retest -rest the low of the last candle and reject -only take calls if we retrace 50% and thats still not guaranteed ***SITTING ON CASH ALSO WORKS***
SPY 1D chart for JULY 11 not really sure what this week will bring us so we need to be careful im sticking to the higher timeframes (4hr/1Day/1Week)
50% rectracement keep an eye for this breakdown SPY below 386.55 we can see 383
Waiting on the bigger time frames to make a decision before i hop into anything 4HR/Daily break is what im looking for
Do not know whats going to happen today so im trading the bigger timezones looking for a break on the 4HR/DAILY to see some strong movement
waiting for a break of yesterdays high/low to avoid any choppiness. break of high -> calls break of low -> puts watch out for the 50% retracement rule
50% rule in affect lets see hoow we finish. hopefully we create an outside bar
Keep an eye out for the 50% reacetracement rule above this mark could give us an outside day
SPY 7/5 looks like the bulls are and bears are fighting. waiting on some market direction on bigger time frames
waiting for some direction on SPY trying to stay out the chop zone
SPY, looking at the breakdown of 378.42. it was the perfect breakdown stop