Today's Pattern is a Carryover pattern in Carryover mode.
After yesterday's FOMC news (unchanged), the markets are seeking a bit of direction. Bitcoin rallied and INVALIDATED a EPP Flagging pattern. In my opinion this suggests the SPY/QQQ may attempt to move a bit higher after the Fed decision.
Although, I still believe the global markets are reacting to uncertainty and tariff news within a very broad consolidation range. So, I'm cautious of trying to go ALL-IN on any long trades at the moment.
Until we break clear of the consolidation range, price could break strongly to the downside on news or geopolitical content. In reality, any type of big news could prompt a downward price move within an uptrend or a consolidation range.
It just seems as though the current global market environment is fraught with uncertainty - so I continue to stay cautious.
Gold and Silver pulled downward overnight. But I still believe metals will continue to rally - attempting to hedge against global risks.
With Bitcoin rallying a bit higher (still in consolidation) - let's see how the next few days play out.
I would be surprised if BTCUSD and the SPY rallied to new highs before the end of May. VERY SURPRISED given the status of the global markets.
But, the markets can stay completely irrational much longer than I can try to fight them. So we have to move WITH the markets - not against them.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
After yesterday's FOMC news (unchanged), the markets are seeking a bit of direction. Bitcoin rallied and INVALIDATED a EPP Flagging pattern. In my opinion this suggests the SPY/QQQ may attempt to move a bit higher after the Fed decision.
Although, I still believe the global markets are reacting to uncertainty and tariff news within a very broad consolidation range. So, I'm cautious of trying to go ALL-IN on any long trades at the moment.
Until we break clear of the consolidation range, price could break strongly to the downside on news or geopolitical content. In reality, any type of big news could prompt a downward price move within an uptrend or a consolidation range.
It just seems as though the current global market environment is fraught with uncertainty - so I continue to stay cautious.
Gold and Silver pulled downward overnight. But I still believe metals will continue to rally - attempting to hedge against global risks.
With Bitcoin rallying a bit higher (still in consolidation) - let's see how the next few days play out.
I would be surprised if BTCUSD and the SPY rallied to new highs before the end of May. VERY SURPRISED given the status of the global markets.
But, the markets can stay completely irrational much longer than I can try to fight them. So we have to move WITH the markets - not against them.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
Love My Videos/Research - GET MORE..
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Love My Videos/Research - GET MORE..
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.