Video Update: 17 May – 9/30 setups

Welcome to the video update for Monday, May the 17th. 9/30 setups on the daily chart are opportunities for both the position trader and the day trader and in this video update we have some great examples! First chart up is the eurostoxx 50 daily chart where we had a conservative 9/30 short setup in the sell zone. Take a look at the chart and see for yourself as these examples have favorable reward to risk ratio setups. On this chart, note the MACD is telling us to sell the next swing up.

Trader Rick takes a look at the EUR/USD pair weekly chart where price reaches full target in overnight trading. This is not the place to establish short positions tho. Look at the ab=cd pattern to find downside targets, if price continues lower.

Next chart up is the EUR/JPY pair weekly chart where price is at near term support. See what pattern Trader Rick is looking at that may lead to a much lower price. Once again, the MACD, as taught in the Traders Club, alerted us to sell the next swing up which worked out well.

The daily Canada chart had a conservative 9/30 short setup that was triggered in trading on Friday. Crude traders should note we are approaching possible support levels on the weekly chart. If you dial down to the daily chart you will see price has been trading outside the keltner channel for over a week now. Watch for a trade opportunity if price retraces in to the sell zone.

In the stock indexes, 9/30 setups also happened on the daily chart for the ER and the ES as illustrated by Trader Rick. Check them out! See how Trader Rick dialed down to find a lower risk short setup on the 203 minute ES chart.

Good trading!

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Tags: 9/30 Setup, ab=cd pattern, day trader, EUR/USD pair, outside the keltner channel, video updates