Video Update: 31 August – what is your answer?

Welcome to today’s video update!  Trader Rick starts out with a question…just to see if you are paying attention.  When considering a trade you are about to take, do you primarily focus on how much money you can make…or do you focus on how much you can lose on the trade?  Good question!  What is your answer?  To get Trader Rick’s answer, check out the video update!

Since today is the end of the month we will be looking at monthly charts to get the big picture view.  First chart up is the Canada weekly and we continue to look for a possible dragon pattern.  Which body part are we watching?  What is the target?  See how the monthly Canada looks in comparison to the weekly.

The monthly crude chart shows price in the sell zone but August had the highest close in many months.  Trader Rick goes over the weekly and the 60 minute chart too.

Note that in the 30 year bond futures the CME is switching back to tick increments of 1/32nds.  Change your charts!

What is the price action in the monthly euro currency chart?  Check it out…..

The video update wraps up with charts from the NQ, Dow and the ES.

Don’t forget to hear Trader Rick’s recommendation on what to focus on when considering a trade.

Good trading!

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Video Update:28 August

Welcome to the video update for Friday, August 28th.  On today’s video update, Trader Rick walks you thru what to look for in Friday’s trading in the crude market.  Identify the buy zone opportunity for possible higher prices.

In the euro, an ab=cd pattern with a fib extension sets up a buying opportunity on the 13500 volume chart.  Good example of waiting for a confluence of support before taking a position.  Price rallied strong in the afternoon, making a new high.  The 1.27 fib extension provides an overhead target if price continues higher.  A buying opportunity is also shown on the 60 min chart.

Moving to the ES, Trader Rick shows a 15 minute day session chart with an ab=cd pattern, setting up a buying opportunity.   For Friday, look for a buying opportunity on the 15 minute chart.

Good Trading!

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Video Update: Live ES Trade! 25 August

Welcome to the video update for Tuesday, August 25th.  You asked for it….. a live trade!  Watch Trader Rick set up a live ES trade, the reasons for taking the trade, where to place the stop loss, and where to take profits.  This is a countertrend trade that was based on several chart factors.

Even tho the trade produced a reasonable profit it could have produced even more if a trailiing stop had been used instead of a target.  Doing a live trade takes time and Trader Rick is pretty darn good at scalping and going for targets.  But there is always room for improvement!  Just depends on your trading style.  If you took this trade you would have paid for a subscription to the Traders Club in full!

If you enjoy this type of video update or have any questions, please send Trader Rick an email to support@efuturevision.com.  He will personally answer your emails.  If you don’t like this type of video update, well, send an email too.  Complaints are welcome too. 

Good trading!

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Video Update: 24 August

Welcome to the video update for Monday, August the 24th.  Trader Rick covers slingshots, 9/30 setups, ab=cd patterns, fib zones, dragon patterns, previous resistance now support, bullish engulfing candles, OKC, basic price action…it’s all in today’s video update!  Every trading day presents a learning opportunity to improve our trading performance. Take advantage of it!

First chart up is the weekly and the 60 minute Canada.  Next up is the crude chart as price moves closer to the .382 fib and a 1.27 fib on the daily crude.  Pay attention to this potential price magnet.

Trader Rick next goes over the euro currency, NQ, the Dow and finishing up with the ES.  Take a look at the slingshot that took place on the 15 minute chart in last Friday’s trading. One clue this trade might work is the 60 minute chart with price OKC.  If you don’t know what OKC is, it’s worth checking out!

Good trading!

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Video Update: 20 August – daytrading setups

Welcome to the video update for Thursday, August the 20th.   First chart up is the crude  daily chart and a reminder that the front month for crude is now October.  Today’s close may be possibly an important event as price is now trading above previous resistance.  The weekly fib and the 1.27 fib extension indicates the next level to the upside we are now watching.

Trader Rick is watching the 60 min all session euro currency chart.  See what he is looking for on this timeframe.  A common pattern may also be forming on this timeframe.

Moving to the ES, first chart up is a good example of a common setup covered in the Traders Club video library called the emini globex fib extension method.  Trader Rick reviews the 60 min day session ES chart going back to the close of Tuesday’s trading.  See how this slingshot pattern played out.  Previous support became resistance, then may be support again.  Important to watch where support comes in.

Good trading!

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Video Update: 17 August

welcome to the video update for Monday, August the 17th.  Trader Rick begins with the eurostoxx 50 weekly chart which indicates loss of momentum but price is still trading outside the upper keltner band which is notewortthy.  Watch the 60 minute chart to see if price moves in to the sell zone.

On the weekly Canada chart, price pulled back last week but is not in the buy zone.  We are still watching for the dragon pattern to unfold.  Trader Rick shows the possible levels of support using the fib zone on the daily Canada chart.

In crude, on the monthly chart don’t forget we are in the sell zone.  The weekly chart has a different look to it.  Check it out, as well as the 60 minute chart which has a common chart pattern and a possible alternative pattern.

Trader Rick goes over the weekly euro currency chart and then shows an ab=cd pattern with the 1.27 fib on the daily euro chart.  Support levels below the market are covered.

This video update finishes with the NQ, Dow and the ES charts.  Keep an eye on the Dow daily chart for support not far below current price.

Good trading!

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Video Update: 13 August

Welcome to the video update for Thursday, August the 13th.  In today’s video update, Trader Rick covers 6 markets, starting with the weekly Canada chart where we continue to monitor the status of a dragon pattern.  Do you know the potential of this pattern?  Look for price to form a simple pattern or a complex pattern.  Be sure to know what invalidates the dragon pattern.    On the daily Canada, the candlesticks are monitored to know if buyers or sellers are in control…..or neither!

In crude, the weekly chart shows the trend and momentum continues to the upside.  Trader Rick shows what to look for IF price moves above the overhead resistance.  Targets are indentified in today’s video update.

Last week’s euro currency price action had prices moving higher but closed lower than the previous week.  We are watching for a possible bearish divergence too using the fast stochastics.  The ab=cd pattern on the weekly is still being monitored.

A dragon pattern is also being monitored on the NQ weekly chart.  Be sure to watch the overhead fib zone resistance too.

The 60 minute Dow chart shows current support which is vital knowledge for all traders.  The weekly Dow chart has a potential bullish pattern as a possibility.  Trader Rick walks you thru what the target is of this pattern.

In the ES, the weekly chart shows overhead fib resistance.  Trader Rick updates a pattern that was mentioned recently in a video update.  The rising wedge is no longer valid.  Current support in the ES comes in at 990.  The last chart discussed is a large timeframe for the ES and Trader Rick talks about why it is important to monitor the large timeframes during the trading day.

Good trading!

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Video Update: 6 August

Welcome to the video update for Thursday, August the 6th.  Trader Rick covers the euro currency and the ES in the video update so this will be a short update.  In the euro, an ab=cd pattern is shown on the daily chart and illustrates the value of recognizing a possible ab=cd pattern, especially if you are daytrading or swing trading.  Knowing the targets of this pattern will improve your profits and allow you to tighten stops as target levels are approached.  Note how many times price tested the D target of this ab=cd pattern.  4th time was the charm as price finally moved thru resistance, creating a new target at the 1.27 fib.  Look what price has done this week at the 1.27 fib!

Next chart is the 60 min euro currency chart which shows what to do in congestion.  The first thing to do is recognize we are trading sideways.  It is important to avoid 9/30 or 3x trend method setups when price is trading sideways.  The exception would be to dial down to a smaller timeframe and watch for 3x trend setups, but know where support and resistance is!

In the ES, Trader Rick shows a rising wedge pattern which has bearish implications.  See what the first clue is a wedge is in play and see what the targets are.

If by chance there is no video update tomorrow night the next video update will be Wednesday, August the 12th after the markets close.  I will return from vacation for Wednesday’s video update for Thursday’s trading.  Otherwise, look for an update for this Friday’s trading.

Good trading!

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Video Update: 3 August

Welcome to the video update for Monday, August 3rd.  Trader Rick begins with the eurostoxx 50 weekly chart.  Price continued higher last week but is showing signs of loss of momentum.  See what level to watch on a weekly closing basis that will signal a retracement may be underway.  The daily chart shows the first level of support which matches where the lower keltner line is.

Moving to the monthly Canada chart, price is nearing the fib zone of .50 to .618 which may provide overhead resistance.  The weekly Canada has the possible dragon pattern.  Price moved out of the buy zone and the first target is given to the upside.  The daily chart is reviewed also.

Trader Rick goes over the monthly, weekly and daily crude charts so if you trade crude be sure to make notes.  Price is in the sell zone on the monthly chart!  The importance of the 60 minute chart is also illustrated for intraday traders.

In the euro, take a look at the monthly and weekly charts.  The monthly is in the sell zone and the past month was an inside candle, indicating hesitate or loss of momentum.  Trend on the weekly chart is up so we do have some timeframe conflict.  An ab=cd pattern is discussed on the daily chart.

By the way, if you trade gold futures, remember to move to the December contract.

Trader Rick discusses the weekly bond futures chart.  See what candlestick was put in last week.

The NQ monthly shows price in the sell zone but the month was a big up candle.  Note overhead resistance levels. The dragon pattern is updated too.

The final charts are the Dow monthly and the ES monthly and weekly charts.  Be sure to check them out!

Good trading!

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