SPY/QQQ Plan Your Trade For 8-30 : Carryover In Counter Trend
Today's SPY Cycle Pattern suggests the SPY will attempt to trend moderately strongly to the upside (if my research is correct).
The counter-trend mode of the carryover pattern suggests the price trend will be opposite of the last 2-3 bars - so a potential upward price trend today.
The carryover pattern suggests that price will behave very similarly to what we've seen over the past 2-3 days—moderately trending.
So, I expect the SPY to attempt to rally the 563-564 level and hold above recent lows.
The QQQ should be similar—attempting to break away from the downward price channel, then consolidating into early/mid-next week before attempting to move higher again.
Gold is within my breakout range (over the next 2~5 days), and I believe the 2564 level needs to be broken (upward) for the 2593 level to become the next target. We are still seeing active support near 2511.
Bitcoin should move back to the upside, trying to target the 62.8k level over the next 5+ days. The Flag formation in BTCUSD is holding up well.
Happy Friday everyone.
Let's make today a great day and prepare for next week.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
The counter-trend mode of the carryover pattern suggests the price trend will be opposite of the last 2-3 bars - so a potential upward price trend today.
The carryover pattern suggests that price will behave very similarly to what we've seen over the past 2-3 days—moderately trending.
So, I expect the SPY to attempt to rally the 563-564 level and hold above recent lows.
The QQQ should be similar—attempting to break away from the downward price channel, then consolidating into early/mid-next week before attempting to move higher again.
Gold is within my breakout range (over the next 2~5 days), and I believe the 2564 level needs to be broken (upward) for the 2593 level to become the next target. We are still seeing active support near 2511.
Bitcoin should move back to the upside, trying to target the 62.8k level over the next 5+ days. The Flag formation in BTCUSD is holding up well.
Happy Friday everyone.
Let's make today a great day and prepare for next week.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Get More Great Research & Tools
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.