SPY/QQQ Plan Your Trade 8-1 : BaseRally301 Pattern Today

This video is to help you understand the continued initiation of the Vortex Rally phase and how today's BaseRally301 pattern will play out.

Within this video, I cover the SPY, QQQ, Gold, & BTCUSD.

This should really give you a solid primer as to what I expect the SPY to do today and why I'm waiting for the first 30 to 60+ minutes to play out before looking for any trades.

I expect the SPY to move in a consolidated downward price trend for the first 30-60+ min, then start to move into the rally phase.

Plan your trade. Remember to use the allocation model I shared with everyone yesterday.

A. Pick your Entry Price
B. Pick your Stop Level
C. The difference between your Entry Price and Stop Level becomes your RISK FACTOR (say $2).
D. Pick how much you are willing to RISK AMOUNT on this trade (say $500)

E. Divide Your Risk Amount (D) by the Risk Factor (C): 500 / 2 = 250. You are only allowed to trade 250 shares (or less) to maintain your risk containment levels.

It is pretty simple once you get used to this structure.

Get Some.

#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold