Here is today’s video update! Remember, the employment report is released at 8:30am est and the markets are closed Monday, September the 7th for Labor Day in the US. No working on labor day!
First chart up is the weekly Canada and Trader Rick shows price is approaching a level of possible significant resistance. See what type of divergence is seen on the chart. At the same time, we continue to watch for a possible dragon pattern.
Been awhile since a gold chart has been shown but price may have broken out of a trading range on Wednesday. Trader Rick goes over a 450 tick chart showing the breakout, then dials down to a smaller timeframe to show how to play the breakout.
The weekly crude chart shows price pulling back after a strong close the previous week. A bearish divergence on the fast sto may be in play. Trader Rick walks thru a short on the 60 minute crude, using basic price action and the 9/30.
Check out the multiple ab=cd patterns on the 13,500 volume euro chart!
The chart to watch is the NQ as price may be nearing an important juncture. Monthly and weekly charts are the timeframes to be watching. Could be significant. Trader Rick gives the level to watch on the daily chart for Friday’s trading.
Last chart is the weekly ES and we are watching the close on Friday for a possible signal.
Good trading and have a safe weekend!
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