SPY/QQQ Plan Your Trade For 10-24 : Breakaway Pattern
Today's trading should begin to resolve as a reversion back to the upside after yesterday's panic selling.
I spend a lot of time going over what happens when news or outside events disrupt price action and sometimes disrupt my SPY Cycle Patterns so everyone can try to understand how the SPY Cycle Patterns work.
My SPY Cycle Patterns are not immune to news or outside events. They attempt to predict what price will "most likely" try to do for a day based on Fibonacci, GANN, Tesla, and Rodin Vortex Math concepts. They don't attempt to predict or address any outside news, geo-political, earnings, or other external data.
As I like to describe them.. They represent price characteristics, showing what price would most likely attempt to do if no outside event disrupts the markets.
Given yesterday's panic selling and the fairly strong recovery/reversion we are seeing in early trading, I believe the SPY/QQQ will attempt to move into a moderate rally phase lasting till October 30-31, then move aggressively downward just before the US Elections.
Gold and Silver will follow roughly the same path but may become even more volatile just before the elections.
Bitcoin is still consolidating sideways - just as I expected/suggested.
Please pay attention to my comments about HEDGING and POSITION SIZING over the next 3+ weeks. These market trends (with lower liquidity) can often be very difficult for all traders.
It is better to cut your trading allocation down to 20-25% of normal sizes throughout these election cycles (especially so close to a hotly contested election).
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
I spend a lot of time going over what happens when news or outside events disrupt price action and sometimes disrupt my SPY Cycle Patterns so everyone can try to understand how the SPY Cycle Patterns work.
My SPY Cycle Patterns are not immune to news or outside events. They attempt to predict what price will "most likely" try to do for a day based on Fibonacci, GANN, Tesla, and Rodin Vortex Math concepts. They don't attempt to predict or address any outside news, geo-political, earnings, or other external data.
As I like to describe them.. They represent price characteristics, showing what price would most likely attempt to do if no outside event disrupts the markets.
Given yesterday's panic selling and the fairly strong recovery/reversion we are seeing in early trading, I believe the SPY/QQQ will attempt to move into a moderate rally phase lasting till October 30-31, then move aggressively downward just before the US Elections.
Gold and Silver will follow roughly the same path but may become even more volatile just before the elections.
Bitcoin is still consolidating sideways - just as I expected/suggested.
Please pay attention to my comments about HEDGING and POSITION SIZING over the next 3+ weeks. These market trends (with lower liquidity) can often be very difficult for all traders.
It is better to cut your trading allocation down to 20-25% of normal sizes throughout these election cycles (especially so close to a hotly contested election).
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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