Welcome to the video update for Monday, November the 9th. No reports of significance until Thursday this week. Wednesday is a holiday in the U.S. but the stock market and the futures markets will be open. Trader Rick starts with the eurostoxx 50 weekly chart where price is in the buy zone. Do you trade this placing a buy stop one tick above last weeks high or do you wait for a weekly close above last weeks high? A look at the daily eurostoxx 50 may help make the decision. DAx chart is same as the eurostoxx 50 weekly chart.
Trader Rick goes over a learning opportunity on the 13500 volume Bund chart. Check it out!
Gold continues higher, reaching the $1100 level. First chart is the monthly. See the next target to the upside. Measured move target is still a possibility. Look at the daily gold chart and see the pattern that may be unfolding.
The daily EUR/USD chart has price in the sell zone. The daily euro currency chart looks similar to the prevous forex chart. Important level here. On the 60 minute euro chart, we have price looking to break thru a 3 point resistance level. Quite often price is successful on the 4th attempt.
On the weekly Canada chart, Trader Rick is watching price in the buy zone, plus the dragon pattern is still in play. Will the .50 to .618 fib zone provide resistance here? Daily chart is discussed too.
Next up is the crude oil weekly and daily charts. The daily chart may have a ab=cd pattern unfolding.
Trader Rick takes a look at the S&P cash daily and weekly charts as well as the NQ, YM and ES charts. On the daily charts price is in the sell zone on all the indexes so this is going to be important to see what direction price goes in the coming days ahead. A common pattern may be forming on the daily NQ chart. Watch this pattern closely. Target is given IF the pattern unfolds.
Good trading!
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