SPY/QQQ Plan Your Trade For 11-20 : Flat-Down Pattern
Today's Flat Down Pattern suggests the SPY & QQQ will trail downward a bit within the current #2 sideways flagging pattern. I believe this setup is indicative of a broader breakdown (Anomaly Event) playing out headed into Thanksgiving and into the end of the year.
Gold and Silver are also moving in an Inverted Excess Phase Peak pattern - struggling near a Phase #3 (sideways consolidation) range. This move will resolve to the upside if my research is correct, yet we could also see Gold and Silver move into a very large Phase #2 type of EPP phase (Flagging downward). This could setup a very large upward price rally in Gold and Silver over the next 60+ days.
BTCUSD is struggling to break to new highs. Although I see a confirmed bullish trend because of a recent new Higher High, I also see BTCUSD struggling to continue to make new highs right now.
Because of this, I see some potential for a breakdown if BTCUSD is unable to rally to new highs within the next 5 to 6+ hours.
Remember, price must always attempt to make new highs or new lows. Failure to make a new high means price must then attempt to make a new low. Failure to make a new low means price must then attempt to make a new high.
These are the RULES OF MARKET PRICE ACTIVITY. Once you learn to use/follow them, trading becomes a bit easier to understand.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Gold and Silver are also moving in an Inverted Excess Phase Peak pattern - struggling near a Phase #3 (sideways consolidation) range. This move will resolve to the upside if my research is correct, yet we could also see Gold and Silver move into a very large Phase #2 type of EPP phase (Flagging downward). This could setup a very large upward price rally in Gold and Silver over the next 60+ days.
BTCUSD is struggling to break to new highs. Although I see a confirmed bullish trend because of a recent new Higher High, I also see BTCUSD struggling to continue to make new highs right now.
Because of this, I see some potential for a breakdown if BTCUSD is unable to rally to new highs within the next 5 to 6+ hours.
Remember, price must always attempt to make new highs or new lows. Failure to make a new high means price must then attempt to make a new low. Failure to make a new low means price must then attempt to make a new high.
These are the RULES OF MARKET PRICE ACTIVITY. Once you learn to use/follow them, trading becomes a bit easier to understand.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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