SPY/QQQ Plan Your Trade For 12-2: Tmp Bottom Pattern
Today's pattern suggests the SPY will attempt to move a bit higher after finding support in early trading.
The one BIG event over the past 5+ trading days is the SPY rallying above the Ultimate High level - breaking into a confirmed Bullish price trend.
This is part of what I'm trying to teach you: the patterns, techniques, thinking, and logic behind my decisions are based on mechanical price structures/processes. Once you understand the structures and price patterns, it is simple to try to understand.
Fibonacci Price Theory teaches you to follow price as the ultimate indicator - measuring and marking ultimate, unique, and standout highs/lows as trigger points.
AnchorBar theory teaches us to watch for breakaway or breakdown bars as precise indications of price trend direction/momentum.
The Excess Phase Peak patterns represent a more nuanced price pattern that can assist us in determining the current "phase" of the markets and how we can expect prices to react to that phase.
If you understand these three concepts, I believe you, as a trader, can unlock any price action and determine what type of trend we are currently in for any symbol/interval and where your opportunity lies for potential trades.
I will continue to delve further into trading and teaching techniques to reinforce these techniques in the future.
Stay cautious as the markets are still struggling to find a post-election trend.
The Anomaly Event is still likely, but the probability of such an event has fallen to about 30-40% overall.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
The one BIG event over the past 5+ trading days is the SPY rallying above the Ultimate High level - breaking into a confirmed Bullish price trend.
This is part of what I'm trying to teach you: the patterns, techniques, thinking, and logic behind my decisions are based on mechanical price structures/processes. Once you understand the structures and price patterns, it is simple to try to understand.
Fibonacci Price Theory teaches you to follow price as the ultimate indicator - measuring and marking ultimate, unique, and standout highs/lows as trigger points.
AnchorBar theory teaches us to watch for breakaway or breakdown bars as precise indications of price trend direction/momentum.
The Excess Phase Peak patterns represent a more nuanced price pattern that can assist us in determining the current "phase" of the markets and how we can expect prices to react to that phase.
If you understand these three concepts, I believe you, as a trader, can unlock any price action and determine what type of trend we are currently in for any symbol/interval and where your opportunity lies for potential trades.
I will continue to delve further into trading and teaching techniques to reinforce these techniques in the future.
Stay cautious as the markets are still struggling to find a post-election trend.
The Anomaly Event is still likely, but the probability of such an event has fallen to about 30-40% overall.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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-- More..
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