Three Drives
CHFJPY Libra SetupWe're following a libra pattern completing at 117.36.
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RUSSELL 2000. 3 Drive Pattern. Russell has ben leading recently and is getting close to ATHs again.
I'm looking for a turn near the 17oo Double top area, But if it gets there it is likely to take out the top before a reversal lower.
A 3 drive can be the end of a trend.
Watching this one with smaller TFs to get entries.
(4H) BTCUSDT, XBTUSDT, BTCUSDTPERP, Parabolic Curve BasesWarning, Base 3 usually is known as Rejection Parabolic Base
So I set 2 supports the yellow and the green
If correction is broken down the yellow, then we will test 9200 as bearish support
lower than 9200 the target is very clear and we'll be on crash
SPY looks like either a really short 3 Drives Pattern or BatFrom the chart we can see a possibly 3 Drives Pattern (dropping two successive short 1.618 statistical markers) or a larger Bat pattern that stopped at .886 on the uptrend.
We are still in a larger uptrend from the original Fib extensions. The larger daily doesn't extend to 1.2168 until 370.x range so we are not greatly overextended. But the concern is the smaller pattern inside. If it confirms a 3 drives then we could see 370. If it confirms a Bat (not reaching above .886 again) then we are in a for a long term downtrend all the way statistically to 302.x
That is my take it as you will. Right now I am neutral on SPY until after the election.