Current Structure (100pts)
5505 marks Auction High
5402 marks Auction Low
We are currently playing the range.
The next chart below gives us a footprint of specific levels to play against for this week. These levels signify levels of liquidity, giving the player a reason to play against.
6/23/24
SPX PIVOT: 5452
Longs to: 5485, 5505, 5525
Shorts to: 5420, 5402, 5375
A break of this 100p structure will start the next sequence, until then we play between 5505-5402. Understanding this information will help us determine the best possible R:R for 0dte premiums, and allow us to monitor which side is favored near specific liquidity levels.