June 12 Plan

What's my bias? Where is the trigger for a counter trend trade (10m48e or ATR Level)? Enter in trend as close to counter trigger as possible. Scale in small to help shift mindset from definitely profiting to, definitely losing.

Daily Chart

Daily ribbon clear support especially at 6000 SPX

4h Chart / Swing Levels

Also clearly bullish. Swing call trigger acting as clear support. GG tapped, so higher probability for swing 618 to hit. 4h 21 is now resistance, but 48e holding. Squeezing.

Hourly / MD Levels

Hourly structure has flipped bearish, but support at 596Y/6000X continues to hold. This morning we created an equal low and higher PO signaling a mean reversion, which completed with the PPI data release at 830a. We've spent the entire week in the multiday trigger box. Currently last weeks high and this mornings low is the range to focus on. Hourly bias structure is down, but may be best to wait until 9a candle closes to see if we're flipping or not.

10m chart!

10m chart confirms the bullish divergence found at support. Premarket low hit overnight low but with meaningfully higher PO and we ripped to trigger a 10m ivom. Currently the day put trigger is support but we are far close to creating a swing high than retracing to the previous swing low. iVommy says up, hourly bias says down, we're far from support for an entry anyway.

Plan as always is to be extremely patient. Better to miss than shit entry. IF there is a setup, scale in to shift mindset to loss and evaluate the 'better' entry.

I'd shift to puts on a break below demand. Best to consider calls only once we've reacted to the demand zone. Or until after the PDC has broken with volume and pulled back to the ribbon!