Welcome to the video update for Thursday’s trading, October the 15th. Thank you for your patience while Trader Rick was out of the office travelling. First chart up is the weekly gold and we are looking at two possible scenarios in this market. One is an inverted head and shoulders pattern and the other is a measured move. Please note the targets of each. The daily gold chart shows the price action since the triangle was broken to the upside.
Next up is the weekly crude chart and Trader Rick shows the next upside target based on fib levels. The daily crude chart shows price trading outside the upper keltner channel and simply knowing this fact can keep you out of losing your money trading countertrend. No point fighting the trend and the momentum!
The dragon pattern is updated on the weekly Canada chart and the pattern is intact! Overhead targets are revealed in today’s video. Price is trading outside the keltner channel on the daily chart.
Next is the euro currency weekly chart and price is moving above the D target of the large ab=cd pattern. Note the next target to the upside.
In the indexes, the weekly NQ chart also has a dragon pattern that continues to develop. Upside targets are provided.
Last are the ES weekly and the 60 minute day session only charts. Check ‘em out!
Good Trading!
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