Video Update:28 August

Welcome to the video update for Friday, August 28th.  On today’s video update, Trader Rick walks you thru what to look for in Friday’s trading in the crude market.  Identify the buy zone opportunity for possible higher prices.

In the euro, an ab=cd pattern with a fib extension sets up a buying opportunity on the 13500 volume chart.  Good example of waiting for a confluence of support before taking a position.  Price rallied strong in the afternoon, making a new high.  The 1.27 fib extension provides an overhead target if price continues higher.  A buying opportunity is also shown on the 60 min chart.

Moving to the ES, Trader Rick shows a 15 minute day session chart with an ab=cd pattern, setting up a buying opportunity.   For Friday, look for a buying opportunity on the 15 minute chart.

Good Trading!

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