Video Update: 26 February

Welcome to the video update for Friday, the 26th of February. If you are a bond or note trader please start moving to the June contract (M). Ok, first up is the daily Canada chart where we have two patterns under watch. One is the ab=cd pattern. The other?

Trader Rick discusses the weekly EUR/USD forex pair where we may finish this week with another doji. What follows several weeks of contraction? At some point, expansion.

The pattern to watch in Thursday’s trading for the stock indexes was the ab=cd pattern. Trader Rick reviews the 60 minute day session charts for the YM, ER and the ES. The ES was a perfect ab=cd. After 3 more hours of trading, price took off to the upside, closing on the highs in all 3 markets. Pays to watch the larger timeframes, both day session and all session!

Good trading!

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Tags: ab=cd pattern, doji, emini, futures, stock indexes