Today's Breakaway pattern may show up in the form of an Island Top or break-away to the upside if my analysis is correct.
I see the markets stalling over the past few days, potentially setting up a "last breakaway" type of pattern today.
I've highlighted how these "last" patterns work where price sets up a peak or trough (in this case a peak) as a last/exhaustion move and how this move can sometimes be very aggressive.
I urge traders to stay cautious today as we are moving into a MAJOR REVERSAL weekend.
I believe the markets will suddenly change direction next week (early) and will move back into downward trending by March 25-26.
Gold and Silver may rally today if the markets move into that Exhaustion Peak pattern. Keep an eye out for Gold/Silver/Bitcoin to potentially rally today and into early next week.
Overall, traders should stay very cautious as we move into next week's peak/top/rollover.
Don't get too aggressive trying to prepare for the rollover or any potential upside move over the next 3-5+ days.
Let the markets show us what and when we need to be aggressive.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
I see the markets stalling over the past few days, potentially setting up a "last breakaway" type of pattern today.
I've highlighted how these "last" patterns work where price sets up a peak or trough (in this case a peak) as a last/exhaustion move and how this move can sometimes be very aggressive.
I urge traders to stay cautious today as we are moving into a MAJOR REVERSAL weekend.
I believe the markets will suddenly change direction next week (early) and will move back into downward trending by March 25-26.
Gold and Silver may rally today if the markets move into that Exhaustion Peak pattern. Keep an eye out for Gold/Silver/Bitcoin to potentially rally today and into early next week.
Overall, traders should stay very cautious as we move into next week's peak/top/rollover.
Don't get too aggressive trying to prepare for the rollover or any potential upside move over the next 3-5+ days.
Let the markets show us what and when we need to be aggressive.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
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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.