SPY/QQQ Plan Your Trade For 10-11 : Inside Breakaway Pattern

١١ أكتوبر

Happy Friday.

Today's Inside Breakaway pattern for the SPY should prompt a solid rally attempt - where the SPY/QQQ should rally higher to close out the week. I'm targeting the 580+ level for the SPY over the next 5+ trading days.

Gold and Silver are moving into a Top-Resistance pattern. This suggests Gold and Silver will rally, form a peak, then roll slightly downward today. I'm still targeting the 2670-2680+ level for Gold as a peak today. Silver will lag, but will likely setup a peak near 32.00.

Bitcoin collapsed, then recovered overnight - forming a very large Deep-V base. Now, this recent recovery is setting up as a Bearish Excess Phase Peak pattern and may likely roll into the Downward Flagging phase.

Be aware, this type fo deep low was the result of a Bullish Excess Phase Peak pattern completing the full 5 phases - ultimately reaching the "ultimate low" with the Deep-V bottom.

This current setup in BTCUSD suggests price will attempt to recover as long as the Deep-V low price is not breached.

Volatility is here. Price ranges will continue to be volatile through and after the US elections.

So be aware that news, data, or other items may cause price to react very violently over the next 2+ months.

Get Some.

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