Video Update: 8 April – finding an edge

Welcome to the video update for Thursday, April the 8th. The first chart shows the eurostoxx 50 13,500 volume where a common pattern may be forming. To get an edge, before taking a trade from this pattern, find a supporting reason. Trader Rick shows how he looks to confirm this pattern trade potential setup.

Next up is the EUR/USD 60 minute forex chart…take a look at this chart and determine at what level would price have to exceed to achieve a change in trend. Do the same thing on the ER 60 minute chart. What level would need to be broken to trigger a potential change in trend? Do you take a break of this level or do you wait?

Last chart is the 129,600 volume ES where we have a possible head and shoulders pattern. Note the target IF this pattern plays out.

Good trading!

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Tags: change in trend, chart pattern, EUR/USD pair, head and shoulders pattern, trend change