Video Update: 21 May – 9/30 results

Welcome to the video update for Friday, May the 21st. In last weekend’s video update Trader Rick showed 4 9/30 setups on the daily chart…so let’s see how they turned out. First up is the eurostoxx 50 daily chart and we had a conservative 9/30 short setup. Initial target of 2560 was hit this week. Next up is the Canada daily where we had another conservative 9/30 short setup. 9794 was the trigger and the initial target was the 9610 area which was hit. Full target came within 12 ticks in overnight trading tonight.

Next chart is the ER daily where we had another conservative 9/30 short setup which was triggered at 704.30. How did this one turn out? Finally, the ES had a 9/30 but it was of the aggressive variety. Take a look at this short setup on the ES daily chart. Initial target was hit, plus much more. We are now testing the ‘crash’ low.

In Thursday’s trading, Trader Rick gives two illustrations how a trader might jump on a strong trending market with relatively low risk. He takes a look at the ER and ES 5 minute charts with a common pattern….the ab=cd pattern. This is a trend continuation pattern and, as you will see, afforded a safe entry.

Good trading!

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Tags: 9/30 Setup, ab=cd pattern