Welcome to the video update for this week’s trading. Trader Rick starts with the eurostoxx 50 weekly chart where price triggered a signal this past week when price was in the buy zone. MACD conservative first cross and a sling pattern are also signaling. Last week was a strong up week. Target is given to the upside.
On the Canada weekly chart, we continue to watch for a dragon pattern which has bullish implications. This past week may have completed the ‘head’ of the dragon. Trader Rick is also watching a MACD setup and a slingshot.
In crude, price may have found support in the buy zone on the weekly chart. A 9/30 is setting up for position traders. The daily crude chart gives a different picture….price is in the sell zone.
The euro weekly chart continues to trade sideways but we are seeing signs the congestion may be coming to an end. On the daily euro chart price is approaching near term resistance.
As stated in last Sunday’s video update, the bond futures were in the sell zone and this past week price pulled back, triggering a 9/30. Take a look.
And in the NQ, Trader Rick takes a look at the daily chart as price moved outside the keltner channel. Do you know what that indicates? Weekly NQ chart also has a dragon pattern we are watching.
Price broke to the upside this past week in the emini. The weekly chart is discussed as is the daily chart where momentum is strong to the upside. Be sure to see the measured move with the target to the upside.
Good trading!
[flashvideo width=550 height=413 filename=http://videoupdates09.s3.amazonaws.com/videonewsl071909/videonewsl071909.flv /]
Leave A Reply (No comments So Far)
No comments yet