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!
[flashvideo width=550 height=413 filename=http://videoupdates09.s3.amazonaws.com/videonewsl061409/videonewsl061409.flv /]
Leave A Reply (No comments So Far)
No comments yet