Today's Counter-trend pattern is a Top/Resistance pattern.
This pattern usually reflects a price peak setup - rolling into a downward price trend. But it is in a Counter-trend formation today - so we should expect a base/bottom setup rolling into a bullish price trend.
This video covers the SPY/QQQ/Gold, and I expect the "Kamala-Shakeout" may be nearly over in terms of market disruption (at least for now).
I strongly believe this is a moderate price shakeout. Traders are reacting to the new Democratic nominee (Kamala Harris) and the sudden change in expectations related to the Presidential election outcome.
I could be wrong, but it makes sense to me that this sudden change would be reflected throughout the global markets as a repositioning of capital (related to risks).
Let's see if the markets can hold this base/bottom setup over the past 2 days.
I really want to see the SPY above $550~551 to settle above my A/B level related to risks. A move back above $550-551 would indicate price has rejected the current downward swing.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
This pattern usually reflects a price peak setup - rolling into a downward price trend. But it is in a Counter-trend formation today - so we should expect a base/bottom setup rolling into a bullish price trend.
This video covers the SPY/QQQ/Gold, and I expect the "Kamala-Shakeout" may be nearly over in terms of market disruption (at least for now).
I strongly believe this is a moderate price shakeout. Traders are reacting to the new Democratic nominee (Kamala Harris) and the sudden change in expectations related to the Presidential election outcome.
I could be wrong, but it makes sense to me that this sudden change would be reflected throughout the global markets as a repositioning of capital (related to risks).
Let's see if the markets can hold this base/bottom setup over the past 2 days.
I really want to see the SPY above $550~551 to settle above my A/B level related to risks. A move back above $550-551 would indicate price has rejected the current downward swing.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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Get Some.
相關出版品
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。