SPY/QQQ Plan Your Trade for 7-18 - CRUSH : Answering Questions
Everyone has been messaging me this morning... And I expect that to happen, especially on a day like today.
First, most people are asking me if I changed my expectations related to the counter-trend CRUSH pattern. The answer is NO - I don't usually alter my analysis. If the pattern does not do what I expect, I'm usually just sitting on the sidelines waiting for the pattern to be set up.
Second, understanding Trending vs. Counter-Trending. Remember, I use a 3 to 5-day average trend when I'm trying to identify the direction of trend. I don't like to look too far back because I've seen these patterns react to very short-term trend changes.
I still see the Counter-Trend CRUSH pattern as generally bullish. Today's early morning downward trend is a flash of buyers/longs.
Lastly, when would I try to enter any trades today? This video clearly shows why I would wait for the $555.50+ level to be breached before I try to enter any LONG trades.
I don't try to pick tops or bottoms. I've seen that/done that before, and it usually ends up VERY BAD (lol). If that's what you want to do - go for it.
Me? I'm going to wait for some type of confirmation of the upward price trend and wait out this downward price trend. Once I get solid confirmation of an uptrend, then I may consider jumping into some Longs or Calls.
You don't have to trade like a Banshee every day. All you need to do is find one or two good trades daily (if they show up). Tomorrow is another day full of opportunities.
So, sit back - watch this video, and learn to be patient. Oh, and don't try to stand in front of a freight train - you'll get RUN OVER.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
First, most people are asking me if I changed my expectations related to the counter-trend CRUSH pattern. The answer is NO - I don't usually alter my analysis. If the pattern does not do what I expect, I'm usually just sitting on the sidelines waiting for the pattern to be set up.
Second, understanding Trending vs. Counter-Trending. Remember, I use a 3 to 5-day average trend when I'm trying to identify the direction of trend. I don't like to look too far back because I've seen these patterns react to very short-term trend changes.
I still see the Counter-Trend CRUSH pattern as generally bullish. Today's early morning downward trend is a flash of buyers/longs.
Lastly, when would I try to enter any trades today? This video clearly shows why I would wait for the $555.50+ level to be breached before I try to enter any LONG trades.
I don't try to pick tops or bottoms. I've seen that/done that before, and it usually ends up VERY BAD (lol). If that's what you want to do - go for it.
Me? I'm going to wait for some type of confirmation of the upward price trend and wait out this downward price trend. Once I get solid confirmation of an uptrend, then I may consider jumping into some Longs or Calls.
You don't have to trade like a Banshee every day. All you need to do is find one or two good trades daily (if they show up). Tomorrow is another day full of opportunities.
So, sit back - watch this video, and learn to be patient. Oh, and don't try to stand in front of a freight train - you'll get RUN OVER.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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