SPY/QQQ Plan Your Trade Update For 9-17 : Wednesday is CriticalIf you were paying attention to my SPY Cycle Patterns today - boy, a beautiful "top" pattern setup today. Just like my SPY Cycle Patterns predicted more than 3 years ago.
If you've been following my research, you already know I've identified dual excess Phase Peak patterns that should resolve into a rollover topping pattern, sending the SPY/QQQ moving downward towards the end of this week (Sept 19-20). If the current Ultimate High price level continues to act as resistance, there is a real potential for the SPY/QQQ to move into a downward momentum breakdown the following week (Sept 23-30).
But, the one thing that throws the whole topping pattern into a mess is that the RSP has already broken to new ATHs and appears to be attempting to hold above the previous high-price fractals. Thus, we are seeing the equal-weighted S&P already moving into a broad value-based rally phase.
Watch this video to understand why I continue to suggest traders avoid engaging in any big trades or get greedy, thinking they are going to WIN BIG on their trades. Yes, I'm sure some people will hit their targets over the next 3-7+ days, but others will get run over (hard).
Unless you really like taking the risk of getting run over by the markets or market makers, I suggest sitting back and reading a good book while the markets or traders struggle to find their exits.
One thing is certain: the markets will move into a trend by the end of September—either into a breakaway rally phase or into a rollover topping phase.
You'll have lots of time to position for these trends because my research shows the next cycle phase is October 7-10 (nearly two+ weeks away).
So, why stress out about tomorrow's Fed Rate decision? Just sit back and wait for the markets to give you a clearer understanding of what's next.
I'll create another morning video tomorrow morning.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Gold Futures
AU1! trade ideas
GOLD FUTURES MCX ANALYSIS ( LOOKING BULLISH )Gold futures looks bullish and we can expect levels upto 82300 once it crosses 76100 in near term ( By 30th November ).levels are marked in chart posted. Before we witness breakout of 76100 view is cautious and one should remain bullish with buy on dips strategy .
FOMC event - leaning bearishThe RSI is above 80 and looking at the past times in this area, I think we go lower after the FOMC news.
You can call this "Priced in", as we had a run up to this event.
I follow seasonality and september is not the best month for Gold.
October to december are very good months for gold, so be patient and wait for a pullback
Good Luck!
New Plan! Buying MGC Contracts until the (DXY) Smoke Clearsthe markets opened up for the week and DXY - the US dollar index - immediately started selling off, down almost 0.5% within the first couple hours of trade.. i think its time to leave that market alone until it sees some stability. i will now be looking over to the gold market
2024-09-12 - priceactiontds - daily update - goldGood Evening and I hope you are well.
tl;dr
Gold - There it is. Another break above, which was expected more than bears breaking below 2500. Bulls want 2600 and I expect more profit taking and more sideways movement at that level. No interest in selling it.
gold
comment: New ath, which I have been writing about for many weeks now on the premise that as long as bears could not even break below 2500, there was no alternative to being bullish. The breakout was a matter of when and not if. Market refused to close below the daily ema for 5 days despite touching it 4 times. That’s strong bulls scaling into longs. What’s next? We are at the top of the bull channel and every time market made a new high, bulls took bigger profits. Will this time be different? I doubt it. Can bulls break above the bull channel for much higher prices? Doubt that too. Will look for weakness and scalp some shorts tomorrow.
current market cycle: bull trend
key levels: 2500 - 2600
bull case: Bulls want 2600 and somewhat above to run stops. Nothing unexpected. I highly doubt that have bigger interest in printing much higher than 2600, given the previous sell offs after new ath. 15m 20ema was not touched on the whole move up, so look for longs once we get there before we hit 2600.
Invalidation is below 2550.
bear case: Bears gave up above 2560 and I can’t see them coming around big time below 2600 so don’t waste energy on looking for shorts until it’s clear that bulls have no interest in buying anymore. Bears need a break of the 15m and 1h ema to begin with.
Invalidation is above 2610.
short term: Bullish for 2600 and then only interested in shorts again.
medium-long term: Will update on the weekend. Bulls are clearly much stronger than most expected. Market refuses to go down.
current swing trade: None
trade of the day : If in doubt, zoom out. 1h chart showed only strength since Globex. Buy anywhere and make money.
SPY/QQQ Plan Your Trade Update : GOLD Breakout WINNERGetting through my morning with phone calls and coding - I took a break to check on the markets and what did I see? A huge breakout rally in GOLD.
This huge move higher (+$40) is a massive win for those who followed my Plan You Trade Videos.
I've been saying any price move above $2565-$2575 would be a gift and traders should attempt to BOOK PROFITS as Gold moves above these levels. I warned not to hold positions above $2585-2593.
In fact, I'm expecting a bit of a metals flash-crash event to take place near mid-October.
But, today is a winner day for gold traders. A HUGE WINNER day.
I'm so happy to hear from all of you about your success with my Plan Your Trade videos.
This is what it is all about - help you become a more skilled trader.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
[Daily Bias] Gold - Thu 091212024 - Drop lower Following the significant drop after yesterday's CPI release, I anticipate further downside today, especially as the market transitions from the Asian to London session.
If the previous day's Value Area Low (VAL) holds, we may see a retest of the Value Area High (VAH) or the Developing Point of Control (DPOC). However, if the VAL fails to support the price, a deeper decline is likely
[Daily Bias] Gold - Wed 09112024 - Continue RallyThe price is rallying with strong momentum, and I expect the rally to continue today following the CPI release. I anticipate two possible scenarios:
The previous Value Area High (VAH) holds, allowing the price to continue its upward rally after the CPI release.
The price pulls back into the previous Value Area, holds there until the CPI release, and then resumes the rally
Gold 2,538$, Sept 24'. Sharp Decline follows ContinuationHello Traders. This is my analysis of Gold for the medium term. We have CPI forecasted to decrease tomorrow and IR anticipated to be cut next week. We may observe heavy volatility and opportunity in the market.
CPI
Consumer Prices have been decreasing
/cooling all summer
24'
Labor Market began strong but has
progressively cooled though Summer 24'
Additionally, the Labor market began relatively
strong through Q1 and Q2 24' but has eased into
Q3
Interest Rates have remained the same through
the summer 24' and remain unchanged since Sept 23'