SPY/QQQ Plan Your Trade For 8-15 : Counter-Trend Carryover
A Counter-Trend Carryover pattern is a "coasting" of price in an opposite trend direction.
So, for today, I expect the price to stay somewhat within yesterday's range while trending downward.
I don't expect yesterday's lows to be broken/breached - although it could happen.
I believe today will be more like a pause in price before attempting another move higher.
Today's pause may be very mellow in structure/size.
I believe the SPY/QQQ are biased to the upside, so I expect this price pause to stay above recent support levels.
Watch this video to see why I believe the recent upper range of the Gap will act as firm support for an upward price move into next week.
We have to wait for the markets to return to Trending mode.
60% of trading is WAITING for the opportune setups.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
So, for today, I expect the price to stay somewhat within yesterday's range while trending downward.
I don't expect yesterday's lows to be broken/breached - although it could happen.
I believe today will be more like a pause in price before attempting another move higher.
Today's pause may be very mellow in structure/size.
I believe the SPY/QQQ are biased to the upside, so I expect this price pause to stay above recent support levels.
Watch this video to see why I believe the recent upper range of the Gap will act as firm support for an upward price move into next week.
We have to wait for the markets to return to Trending mode.
60% of trading is WAITING for the opportune setups.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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