Welcome to the video update for Monday, February the 7th. The weekly EUR/USD pair chart shows a shooting star candle the last two weeks in the sell zone. If you know the 9/30 setup this might be of interest. But what is the daily chart showing? Nobody said trading would be easy.
In crude, look at the weekly continuation chart. Do you see the dragonfly and shooting star candles? Buyers. Sellers. This may lead to a trading range of 85 to 93.
In the stock indexes, we have the ES and YM making new highs this past week while the NQ and ER were not. In the ES, in a previous video update, Trader Rick targeted 1300 to 1313 as an area of possible resistance. Price is approaching the upper end of this zone. No signs currently warning of a correction. The 60 minute day session ES chart shows two levels of support to watch. May want to make note of them.
Good trading!
Tags: 9/30 Setup, shooting star
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