Welcome to the video update for Monday, March 28th.   Looking back on the weekly Silver chart, Trader Rick reviews the 9/30 aggressive buy setup that resulted in a potential profit of about 9 dollars or $45k.  Note also the slingshot and the MACD buy setups.  If you are a position trader these are key things to look for.  This could easily be a 5 minute chart and the setups would apply.  This is a good chart to study, even if it is in retrospect.

Looking at the weekly EUR/USD pair chart, this past week was a narrow range week, indicating hesitation.  Will we continue moving higher or will we see a retracement?  Note the support level IF price retraces in to the buy zone.  On the 60 min EUR/USD pair chart, see which pattern Trader Rick is watching for Monday’s trading.

Next chart is the 13,500 volume euro where a very familiar chart pattern is reviewed.  This pattern took place last week and the target was hit.

In the stock indexes, study the 9/30 on the 129,600 volume  ES chart that took place last Thursday.  An aggressive 9/30 buy setup was supported by previous price action.  Quality setups such as this on a large timeframe are worth watching very closely.  The risk is typically higher but the probability of success are higher.  If you dial down to a lower timeframe risk can be minimized, even if it takes more than one attempt to get on board.

Last chart is the 2 bar per day ES chart, price continues moving higher after the bullish ab=cd pattern we talked about last week.  See one concern Trader Rick has on this chart.  IF price retraces watch for support in the 1292 area.

Good trading!

Welcome to the video update for Monday, December the 13th.  Trader Rick reviews 9/30 setups starting with the EUR/USD pair daily chart.  See which 9/30 on the daily chart has the highest probability of success?  Does a 9/30 short near support a high probability setup?  The 9/30 short setup triggered this past week is also a possible slingshot pattern. 

Trader Rick is currently watching a triangle pattern on the 4500 volume euro currency futures chart.  In overnight trading as this video update was made price is close to breaking out of the triangle.  How would you enter a break of the triangle?  Trader Rick reviews two choices. 

Moving to the stock indexes, look at the S&P daily cash chart.  Price has been trading outside the upper keltner channel the past 6 trading days.  By now you probably know this means momentum is strong to the upside currently.  Note where the 1.27 fib extension is on this chart.  Price came very close to reaching this fib level in trading this past Friday.  Watch for evidence of hesitation or loss of momentum.

Good trading!

Welcome to the video update for Monday, October the 25th.  First chart is the EUR/USD pair weekly chart where last week’s candle was a spinning top, indicating hesitation.   Could be sellers taking control or just a break before the buyers push prices higher.  Have we had a close below the low of the recent high candle?  Trader Rick makes note of overhead resistance levels and underlying support.  On the daily chart we have the possibility of a slingshot pattern, indicating higher prices.  60 min chart shows price currently trading outside the upper keltner channel with  noted underlying support. 

Trader Rick takes a look at the weekly gold continuation chart where price closed below the previous week’s low.  Note where support comes in if price retraces.  Take a look at the weekly silver chart.  Good example of why it can be profitable watching the big picture especially during consolidation.  Once price broke the triangle and traded outside the upper keltner it moved $4 straight up, providing about $20k net profit per contract in 5 weeks. 

Crude traders, take a look at the daily chart where price has most likely completed an ab=cd pattern.  A slingshot pattern may also be forming. 

Moving to the stock indexes, take a look at the ER daily chart if you trade this market.  Note the inside/outside/inside pattern that was discussed the first week of October.  Price appears to be breaking the high of inside bar from last Friday.  Slingshot may also be forming. 

Final charts are the ES weekly, daily (day session only), and the 2 bar per day chart.  1190 is the next level of resistance. 

Good trading!

Welcome to the video update for Monday, July the 26th. First chart is the EUR/USD weekly where we are still tracking a potential ab=cd pattern with a D target just above the 1.1400 area. Note the overhead resistance area. Take a look at the daily chart where a possible inverted head and shoulders may be in play. A measured move target is given.

Trader Rick next looks at the weekly gold chart where price is in the buy zone. Watch where we close this week.

Moving to the stock indexes, the next chart is the weekly S&P cash chart. Price is in the sell zone and note where the overhead resistance area is. The YM, ER and ES charts are also discussed so check them out.

Last chart is a scalp trade taken by Trader Rick on the euro. Take a look and see how it turned out.

Good trading!

Welcome to the video update for Monday, July the 12th. Please note the next video update will be either July 21st or July 22nd. Trader Rick will be on vacation in beautiful Arizona enjoying the hot weather.

First chart is the EUR/USD pair weekly chart and note that price is in the sell zone, up against the upper keltner. This may be an important week for this market. Watch this coming Friday’s close to see if a 9/30 short is triggered. We also have a possible slingshot forming. The ab=cd pattern is still in play. On the daily EUR/USD pair chart we have a possible abc correction which would tell us to look for the downtrend to resume once the correction is complete.

Gold traders should take a look at the weekly continuation chart where price is in the buy zone. Will the current bullish sentiment be ignored and price moves higher? Be sure to look at the daily gold chart!

On the weekly crude chart, see what tells us we might see a trading range. If you trade crude, be sure to check out the 60 minute chart.

In the stock indexes, first chart is the YM weekly chart where the moving averages are converging where price currently is. What does this mean? Expect some increased volatility IF price moves away from this area.

The video update concludes with a look at the ER weekly and ES charts.

Good trading and see you the middle of next week!

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Welcome to the video update for Thursday, April the 1st. A reminder that the front month in gold is now June. No April Fool’s! Also, due to a US holiday the markets will be closed on Friday.

First chart up is the monthly crude oil chart where the month of March finished as a doji with a very very small range. We are still watching the possibility of a slingshot forming. On the daily crude chart, price may be moving to the upside. See what the D target is of a possible ab=cd pattern.

Trader Rick next looks at a 60 minute EUR/USD pair chart. Price is currently in the buy zone. If you trade the EUR/JPY forex market be sure to take a look at the weekly chart where price is now in the sell zone with overhead resistance nearby.

Next are the monthly index charts. Trader Rick goes thru the monthly for the S&P cash, Dow, NQ, ER and the ES with a few intraday charts worth mentioning.

Good trading!

Welcome to the video update for Friday, March the 5th. The EUR/USD pair weekly chart looks like it may end this week with another doji, the 4th week in a row. This market is in big time hesitation mode! The various moving averages overhead provide resistance so if price moves up in to the sell zone which is above the 9ema, look for a shorting opportunity. On the 60 min chart Trader Rick shows the short that setup in early trading on Thursday resulting in a clean aggressive 9/30 sell. The slow sto and the 3x indicator confirmed.

Next up is a clean setup on the 4500 volume euro chart. See how this sell was confirmed resulting in a solid move to the downside. Good example of a slingshot.

Moving to the stock indexes, compare the weekly ER chart and the ES weekly chart. Divergence! Will the ES follow thru and make new highs or will we get a lower high? The ER may be forming a 1-2-3 pattern. Take a look at the 2 bar per day ES chart and note where significant resistance may be forming.

Good Trading!

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!

Welcome to the video update for Monday, February the 22nd. On the eurostoxx 50 weekly chart, last week price closed higher than the high of the previous week, which has bullish implications. Don’t be surprised tho if price makes a lower high IF price pushes higher. On the daily chart overhead resistance comes in at 2847. See what level could trigger a 9/30 short.

Trader Rick next looks at the weekly EUR/USD pair where for the 2nd week in a row we had a doji. Chances are you know what that means! IF price rallies from here, look for a selling opportunity in the sell zone. The 60 minute chart shows price right at resistance but we have strong momentum currently.

Next up is the weekly gold continuation chart where price broke to the upside after an inside week. Has the abc correction completed or do we get a more complex correction…an abcde?

With the end of the month this week, take a look at the monthly euro currency chart and see what fib level price may have found support. If price moves lower then we will look for an ab=cd pattern.

The weekly Canada chart shows price in a trading range. Dragon pattern is still intact. The 60 minute chart has a bullish bias in the near term with price making a higher high and trading outside the upper keltner channel. Look for a buying opportunity IF price pulls back.

The monthly crude chart shows price in consolidation between 68 and 84. A slingshot is still a possibility but a move to the overhead .50 fib is also possible. Time will tell which direction we go.

If you trade bond futures take a look at the 60 minute day session chart. May get a 9/30 setup and/or a slingshot.

In the indexes take a look at the YM 450 tick chart that has a common pattern that may have completed well before you get this video update. Still worth seeing how it played out. The DOW weekly and daily charts are reviewed as well as the 203 minute day session ES chart. IF we get a continued rally look for the 1125 area to provide initial resistance.

Good Trading!

welcome to the video update for Monday, February the 15th. We are undergoing some changes to the efuturevision web site in the weeks ahead and because of some changes Trader Rick was unable to do a video update during the week last week. Hopefully this video update posts successfully! First chart is the eurostoxx 50 weekly and price put in an inside candle last week, indicating contraction. Both up and down scenarios are discussed. The daily chart illustrates the overhead resistance.

Trader Rick shows the inside week in gold last week on the weekly. Has the abc retracement pattern completed? Targets to the upside remain unfilled. IF prices move lower, take a look at the daily chart where we have an ab=cd pattern possibility, targeting just above the $1000/oz level.

If you trade the euro/yen pair take a look at the weekly chart which shows price breaking out of an 8 month consolidation zone. What’s next? On the EUR/USD weekly chart, price is in the fib zone with last week finishing as a doji. Note where it completed. On the daily chart, price is sitting right on the D target of the ab=cd pattern. If price moves lower look for the 1.27 fib level to provide initial support.

Next up is the 13500 volume euro chart where another ab=cd pattern is providing support. Is there a chance we may see a change of trend? What do we want to see first to confirm a change of trend?

The Canada weekly chart is up next with price in a trading zone. The dragon pattern is still intact.

Crude oil weekly is trading near support, threatening to break out of a channel.

The next chart is the 60 minute 30 year T Bond market and price closed Friday in the sell zone. Check price on Monday morning to see if a sling develops.

In the stock indexes, the NQ daily closed in the sell zone on Friday but note we closed on the high of the day, and this last leg up came after a bullish divergence, making a short a lower probability here. Trader Rick goes over the 15 minute and 2 minute ES chart for Monday’s trading.

Good trading!