Welcome to today’s video update. Trader Rick illustrates the important support level on the daily euro chart. Monday was a wide range day and it will be important for price to hold support. The 60 min euro has a possible slingshot setting up so if you trade the euro be sure to see if the sling develops.
In the ES Trader Rick reviews a trading opportunity from Monday’s trading shortly after the New York open using the globex fib extension method as taught in the efuturevsion training library. Price dipped down to test support right at the 1.618 fib then reversed to the upside. On the daily chart Trader Rick continues to monitor momentum. Monday’s trading ended as a doji, indicating hesitation. Watch Tuesday’s close which may give an important sell signal.
Trader Rick will out of town the rest of the week so the next video update will be this coming weekend for Monday the 20th trading.
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