Today’s Video Update is a follow up on what happened to the charts and setups recommended in the weekend outlook, and even provides another trade idea setting up in the mini S&P 500.
- Gold slingshot setup could have got you long at the 892 level. Gold is now trading well above 900, hitting 916 in the day.
- Eurostoxx 50 Dragon setup also worked out profitably, hitting the target of the tail at 2209 before moving much higher.
- Euro pulled back into the buy zone to setup a conservative 9/30 long entry, which caught 250 full basis points or $3,000 profit per contract.
- mini S&P provided a good breakout above the overhead resistance line of around 835. We are now making higher highs and higher lows from a price action point of view.
- Another example of how the fib extensions can provide meaningful support & resistance areas. the 1.618 extension capped off the high of yesterdays S&P 500 rally.
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