Video Update: 29 June – emini and euro

Welcome to the video update for Monday, the 29th.  Due to some charting problems this will be an abbreviated update.  Short and sweet!   Trader Rick starts with the euro monthly chart.  See if price is in the buy or sell zone.  What is price action saying?   On the daily euro, price is in the sell zone.  Be sure to note the important underlying support level.

Next is the emini weekly chart and price dipped in to the buy zone this past week but did not close below the 9ema.  This means we do not have a confirmed 9/30 long setup.  Trader Rick shows what it will take on a weekly basis to turn the bias to the upside.  If price does rally first target will be the previous swing high and the .382 fib.

On the daily emini, price is in the sell zone.  Be sure to note the underlying support level in this market.

Good trading!

Video Update: 24 June – FOMC day

Welcome to the video update for Wednesday’s trading.  FOMC announcement is released at 2:15pm est.  Trader Rick takes a look at the bond, euro and S&P markets to prepare for fed day.  Bonds have a potential ab=cd pattern or a two step.  Note where overheard resistance lies and where the D target is IF price rallies.

In the euro currency market, Tuesday was a big up day but see if we are in the buy or sell zone on the daily chart.  Follow thru will be important to watch.  Support comes in at 1.3737.  Do you know what a ‘jaws of death’ is?    60 minute euro chart shows currently a slingshot pattern.

In the S&P cash daily chart, Trader Rick shows where important support is.  In Tuesday’s trading in the ES, the range was narrow…only a 10 point range.   Trader Rick covers what to look for when the FOMC announcement is released.  Stand aside if the volatility is too excessive for your trading account.   Protect your account at all times!

Good trading!

Video Update: 22 June

Welcome to this week’s video update.  Trader Rick starts with the eurostoxx 50 weekly chart….remember September is the front month now….see if this last week’s close had any significance.  First level of support on the weekly chart is in the 2275 area.   On the Canada weekly, continue watching for the possibility of a dragon pattern.  Be sure to note where the back of the dragon is on this chart.

Next up is the weekly gold chart.  Trader Rick shows two possible patterns to look for in the weeks ahead as the anticipation of gold breaking thru the $1000 level mounts.  In the crude market we are now trading the August contract.  This past week put in an inside candle indicating hesitation but price continues to trade OKC, or outside the keltner channel.

Next chart is the daily bond continuation chart.  Take a look at two slingshot examples.

Trader Rick updates the weekly euro chart then discusses the weekly Dow chart.  In the Dow weekly we are watching the possibility of hidden divergence which has bearish implications.

Wrapping up with the weekly ES continuation chart, see if this chart has hidden divergence.  Do you use market profile in your trading?  Trader Rick takes a look at the 30 min ES chart and notes the significance of the value area.  Knowing where we open in relation to the value area can give you an edge in your trading.

Good trading!

Video Update: 15 June – MACD chart examples

Welcome to the video update for Monday, June 15th.  Trader Rick starts with the eurostoxx 50 weekly chart where the possibility of a hidden divergence exists.  The MACD may be settting up a conservative or an aggressive buying opportunity.  Watch the buy zone!

On the weekly Canada chart, we continue to look for a dragon pattern.  The key is seeing a head develop above the back of the dragon.  Trader Rick shows which direction the slow line crossed the baseline.  In crude, Trader Rick shows the weekly chart and what the MACD may be setting up.  Buy signal?  Are we close to the .382 fib? A crude 60 minute chart gives a better visual of where important support lies.

In the weekly euro, did we get a weekly candelstick pattern indicating to exit longs or establish shorts?  The MACD slow line crossed the baseline….keep an eye on price entering the buy zone.  Trader Rick shows the near term support levels.

For those who are members of the Traders Club you will see an example of a bonus method revealed in the MACD training video in the bond market.  SEe if last week’s trading tested important support on the daily bond chart.  A hammer candle may be of importance!

Trader Rick wraps up the video update with a discussion of the Dow and the ES markets.

Good trading!

Video Update: 12 June

Welcome to the video update for Friday.  Remember, roll to the September contract if you trade the stock index futures or the currencies.   In this short video update, Trader Rick goes over the Gold daily chart.  With 4 doji in a row this week expect price to breakout of the current trading range.  Does the upside have the bias? Will gold reach $1000?

In crude, price continues higher with the .382 fib not far away.  Momentum is strong as price on the weekly chart trades OKC.  What does the monthly chart show for crude?

Trader Rick takes a look at the weekly Dow chart.  Using the MACD indicator see what type of divergence may influence price in the weeks ahead.

In the ES we are looking at 5 days in a row of doji!  Price is in balance and not trending but price won’t stay in balance for long.

Video Update: 8 June

Welcome to the video update for this week’s trading.  First chart Trader Rick discusses is the weekly eurostoxx 50 chart.  Price is approaching important resistance.  Do you know what hidden divergence is?  Trader Rick shows an example of hidden divergence on the weekly chart.

On the weekly Canada chart, Trader Rick updates the dragon pattern from last weekend’s video update.  Is it still valid?  On the Canada daily chart price is dipping in to the buy zone but is there divergence?  What is the MACD indicator showing?

As gold approaches the $1000 level see what price did this past week?  Did price close higher or lower than the previous week?  See what two patterns Trader Rick is watching in this popular market.

In the weekly euro currency market, Trader Rick updates the ab=cd pattern and where support may be if tested. The daily chart shows a possible 1-2-3 pattern.  See what the two targets are for this pattern.  Trader Rick dials down to a 13500 volume chart in the euro and shows a possibly important fib level to watch.

In the crude market, the weekly chart is approaching the .38 fib level.  The trend in crude has been strong but do you know where the overhead resistance levels are?

In the bond market, price is approaching important support levelson the weekly chart.  See the intraday chart for an important overhead resistance level that was previously support.  Check them out if you are a bond trader!

S&P cash and the ES weekly chart are  the last charts Trader Rick discusses.

Remember, the stock index futures roll over to the September contract this Thursday and the currency future markets begin rolling this week to the September contract too.

Good trading!

Video Update: June 1-daytrading futures

Welcome to the video update for June 1st.  First chart Trader Rick comments on is the eurostoxx 50 weekly.  After an inside week we continue to watch overhead resistance at 2562.  If price pulls back in to the buy zone look for a setup to enter.  Next chart is a daily Canada chart and Trader Rick goes over a setup based on his latest training video….the MACD training video.  See which MACD method is illustrated as taught in the MACD training video.  The same chart is shown but with a 3x trend method setup.  Price on the Canada daily chart is currently trading OKC (outside the keltner channel).  What does that mean? The weekly Canada may be forming a common chart pattern.  Trader Rick tells you what to look for next to take advantage of this chart pattern.

The long term charts for the crude and euro currency markets are covered in this video update.  Check them out to get ready for this week’s trading.

September bonds may be forming a dragon pattern.  Do you see it?

In the ES, Trader Rick covers a measured move potential with the target revealed.  Price broke out of a triangle on late Friday trading and pushed higher.  The overhead resistance is not far away.

Good trading!  Be sure to check out the Traders Club video training library!