Video Update: 17 August – what’s next for the ES?

Welcome to the video update for Monday, August 17th. Thanks to everyone who took the time to complete the survey last week. This will help improve the services offered by efuturevision.com!

First chart is the EUR/USD weekly where price pulled back in to the buy zone last week. Note where underlying support is. The daily EUR/USD pair chart shows momentum is currently strong to the downside and that price is currently oversold. IF price rallies, look for a selling opportunity in the sell zone. If you trade the euro futures, Trader Rick recommends watching a specific big timeframe to keep an eye on the big picture.

Next chart is the weekly Yen chart. Note price is up against resistance and that this past week made a new high but closed lower than the close of the previous week. If you are long the yen, tighten stops to protect profits. Note the double top formation.

Trader Rick takes a look at the weekly S&P cash charts where price last week triggered a conservative 9/30 short setup. Thursday and Friday were narrow range days, meaning hesitation, so watch for a breakout in either direction.

The ES weekly, daily and 203 minute charts are analyzed at the end of this video update. Target of the bearish rising wedge is shown.

Good trading!

Video Update: 1 March – MACD indicator

Welcome to the video update for Monday, March the 1st. Many charts in today’s video features the MACD indicator. Starting with the eurostoxx 50 daily chart, note the MACD indicator where Trader Rick shows the first cross setup and a divergence play. Are you familiar with a hidden divergence? Take a look.

Trader Rick shows the MACD indicator on the weekly gold chart. First MACD setup corresponded to a quality 9/30 long back in early 2009. Note how momentum zeroed out while price was forming a triangle.

Next up is the EUR/USD pair weekly chart. Good example of momentum waning as price moved higher. This past week was the third week of hesitation, market contraction. Watch for a shorting opportunity if price rallies in to the sell zone.

The 60 minute Canada chart has a possible inverted H&S pattern but see what Trader Rick does not like about the pattern. Price may also be forming a slingshot.

Trader Rick analyzes the crude monthly chart with the MACD indicator. Remember, momentum leads price. The daily chart in crude has a possible ab=cd pattern to watch.

Remember, the 10 yr notes and 30 year bonds have rolled to the June contract. Price on Friday triggered a 9/30 short on the daily bond chart. Price is in the sell zone on the MACD indicator too.

For the stock indexes, first chart up is the S&P cash monthly chart. The MACD indicator analyzes what to expect next. The yearly pivot is taken in to consideration here.

Several traders have asked Trader Rick to review some of his trades so the two trades Trader Rick took on Friday are reviewed in the video update. There was an ES long entered at 1096.75 for a long scalp and there was a May bean 9/30 long setup on the 1575 volume chart. Both were confirmed by other timeframes.

Good trading!