 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good morning folks welcome to the August night the terrific Tuesday edition of today's Trader's Edge show I'm your host TV perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past. Hope everyone out there's having a great day Hey, let's make sure we have an extraordinary one of the easiest way to do that It's to always remember that life is happening for us not to us That's right when you and I make that one little two-by-four shift It means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to all know that I'm absolutely grateful for your presence here But more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone You can dial on an 877-927-6648 now if you can't dial in we've got you covered there, too You can always send me name and I'll send it early Please send it to Steve at tfnn.com and inside the subject heading Please put radio show question of course inside our Tigers then well any in every ping will do So let's go ahead and get this show started on terrific Tuesday, of course This is tiger financial news network. I'm Steve Rhodes Welcome to the show right now get all the us indices that we track trading the downside dows off hundred points three tenths were sent S&P six tenths or 24 points Nasdaq 100 off one and a half percent or close to that same for the Russell That's 185 and 28 points respectively. The semis are down over 4% 133 points there the trend is they're off 75 74 points. That's a half a percent. I've got gold trade out 1807 It's up just slightly two bucks silver is off 17 pennies trading out at 2043 lights recruit is up 65 cents 9142 is the print their natural gas train out of 784 That's up a quarter and a 30-year treasury is off five ticks trade out at 142 13 lead the charge Dollar wise the upside this morning. We got shockwave medical 37 bucks 16% Quailess is up 12 bucks or 10% Elevants help up 2% 9 almost 10 bucks constellation brands up 850 Nearly 4% McKesson Corp up 8 bucks. That's 2% to the upside to the downside It's magic Empire global limited up 92 bucks or 77% now that is getting wallop Mercado Libre down 45 bucks 4% lamb research off nearly $40 7 and a half percent as a male holdings down 29 bucks 5% there So we got plenty of movers, and we have plenty of shakers, but first let's go take a look at these markets What are they doing out here? So let's switch over to the daily timeframe equity future charts and each of them I have Well now they each of them are showing topping patterns. Let's get over to this screen right here in the upper left You got the ES mini what you'll notice is yesterday marked a TD 9 count top That pattern is complete today, and that's suggest when you get a top out here That price should head back and test its oscillator and change line now the important thing about the oscillator and change line With regard to the trend that is in place right now the momentum You can see how each time once price got above it that was on June 23rd Any pullbacks have found support at that line whether it was red or green green line is a more bullish line So price what price should do is pull back and test that level What I don't know is whether that level will hold right now The ES mini oscillator and change line is printed at 40 88 you got to use that It's gonna move up and down, you know a few points would have you but that becomes a price target now What you don't see on this chart here And for good reason and that good reason is I'm using my advanced Doppler tool I've got a tool that is a leading tool to identify new profiles that are attempting to form the ES mini Doesn't show on this chart here But the ES mini does have a new profile that is attempting to form that support level is at 40 91 So we're expecting that price and that's where the buyers are lined up. We have not seen since this rally We have not seen a close below the bottom of profile So if this rally is going to continue then what we should see is this area the area is 40 88 ish to 4091 hold that support what happens if it doesn't hold stevo Pretty simple if we see a close below that level that would then suggest to us that price may pull back to its breakout area The breakout area is established by that TD 9 count and that's at 39 38 75 But first we got to take a look at that 40 88 ish range the NQ Generated a sell the deep point pattern on Friday It will not at least at this stage the game does not look like it'll form a TD 9 count pattern Price needs to close above bar number 5 today. We're well below that doesn't matter You got the topping pattern in place So the NQ is something we really want to walk because its first target much like the ES mini You can see how that red green line has held its support on any move lower if the bullish trend is to continue Then that level should hold what is that level great question? I think I have to expand out the chart to give you that number So as we expand out the chart we can see it's at about the 12 9 51 area. We just make sure 12 yeah 12 9 51 now again You used that as a guideline as price moves up and down But if price fails to hold that area then the NQ had formed a new profile yesterday So if this level fails as support then we should see a move back to 12 7 40 the bottom of its daily profile Now the Dow itself Does not have a topping pattern in order to generate that it needs to generate a bearish reversal candle yesterday Was a you know a small-bodied candle makes it pretty easy today for that to occur The Dow diamonds actually do have a sell the D point pattern out there But the Dow equity future contract and I don't believe the Dow cash in the Z have that same topping signal Nonetheless out here what the Dow equity future contract should do much like the ES mini much like the NQ It should should pull back and test that greenhouse that are changed on that's currently printing at about 32 43 What happens if that level fails? Well The next level for the of support that is for the Dow would be the top of its profile That's at 32 174 but again if this bullish trend is to continue, which I suspect it will We've had the two to three week rally that's normal in a bear market But we have conditions that have changed enough to suggest that what we should get is a two month rally Something that we saw several times during the 2000 bear market out there And so this level that's going to continue now doesn't have to work this way price can pull back to other levels of support But what we're watching here is that green oscillator and change line at the moment if we just change over take a look at Russell 2000 the Russell did complete a TD 9 count top yesterday If you had a bearish a golfing candle today, it would just simply confirm a sell the d-point pattern But the same game plan here price should go target a source letter and change line And that's at the 1888 area the Russell 2000 is also attempting to form a new profile If 1888 fails to hold the support it has support between from a profile standpoint between 1875 and 1897 out there so you get a lot of support inside the ES mini and inside the Russell 2000 each of them each of these equity future Contracts should pull back test that awesome change line if it is a test and rejection That's the next buy point on the move higher that should run through the early part of September out there now What we like to see when we see price potentially pulling back to support areas like the NQ that is we like to try to identify You know, is there some time frame that seems to be Managing the waves so to speak and there is the time frame right now Let's go to it real quickly here and then we're gonna go to a break in just a few seconds But it's gonna be that 60 minute time frame So for those of you that are following along at home, you're doing your own charting techniques Maybe you're just applying some of my tools there go to the 60 minute equity future contracts out there My signals suggest that we could see a bottom form here the ES the NQ the Dow and the Russell 2000 Each with TD nine-pound patterns seabroach with TFN end. 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Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by Basil Chapman Creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by Basil Chapman and your inbox every day first-time subscribers also get a 30-day money-back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge With anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors toll free at 1-877-927-6648 Internationally at 727-873-7618 Welcome back folks. We got the dial up 17 S&P's off 8 Nasdaq is down 122 We're taking a look at the 60-minute time frame chart out here for each of the equity futures contracts now They're showing potential TD nine count bottoms but in order for these bottoms We're in bar number nine right now in order for bar number nine to complete It has to be a close below the close of bar number five take a look at the ES mini That would then suggest now. This is an hourly chart So this is going to be at 12 noon does really matter where it's trading at 11 18 But what needs to occur but at noon specifically at noon is a close below 41 26 75 We get that you'll then have a TD nine count bottom What happened if it closes above that well then the count itself will go away And we won't have that pattern and there's an A to B equal CD But that price is that price projection for the ES mini just the one-to-one would need to get down to about the 4096 of now 4096 would take us right back to this prior TD nine count and above the TD nine count breakout area out there So there's a potential, but we won't know until we get to that noon time frame We've got that same pattern bar number nine is forming on the NQ now the NQ right now Isn't really isn't dealing with the bar number five, but still at noon price needs to close below 13 090 50 forget that you'll have a valid TD nine count that will then suggest that price will go in at least tag It's oscillator and change like 13 097 if price can get above that then you're looking at resistance at 13 150 and above that 13 210 and then above that it gets all the way back to the highs at 13 389 level out there so one thing at a time to dial Also in bar number nine, but in order for that pattern to form a TD nine count at its breakout support level 32 700 It would need a close above And I'm sorry we need a close below 32 743 and you're at 32 794 right now now Even though we don't have a valid topping signal For the 60-minute time frame when price does pull back an area that can be support and oftentimes the support is where price Had broken out from so even if the TD nine count pattern goes away Price has pulled back to a level of support 32 700 if that area holds and price is able to close above its green oscillator and change on a green oscillator and change Like closing above that says we have a rising price oscillator above zero for that time frame the 60-minute time frame That is a bowler signal and then says that the battle for the Dow would be a 32 868 above that 32 981 and then above that 33065 in the case the Russell 2000. It is also pulled back to breakout support 1917 40 to be exact looks like this will form bar number nine It's well below the close of bar number five, but still it does need to close below coming into noon It does need to close below 1935 even Steven out there. So we have the TD nines. They certainly looks like the NQ should or might Generate form its pattern the same thing for the Russell 2000 the Dow would give you a bottom signal Just by holding that 32 700 area out there and the ES mini just needs that close below the bar number five level To confirm that bottom signal otherwise more likely than not it's signaling an A to B equal CD to the downside with again That first price target being a 40 96. So that's what's going on inside the equity markets as we speak right now Let's go to a couple of questions that have come in the first question coming inside the Tigers Then that's from Kota and what Kota wants to take look at is a Bitcoin the question is is Bitcoin a short I believe that's the question. So let's go to our three panel a Charter take look at daily weekly and monthly time frame. So Kota when we take a look at Bitcoin I'm looking at the Bitcoin futures contract. So that currently is the August contract that is a That is the lead contract here and what we can see is that so the question is as of a short I don't know what time period if it's a major signal that you're looking for but what price did yesterday Was it got up at tested? Resistance that was the top of its daily profile their resistance level is 24 300 Code it's not as if we have a topping pattern We do have a bottoming pattern and that bottoming pattern was that roads meant to indicator signal when price right now It's just consolidated with inside that daily profile So the extent that you want to play to the short side You've got support at the 21 982 to 21605 level the first number was the oxygen change line the second number was a bottom of that Profile out there. You'd really need to see two consecutive close of low 21605 At least at that stage to suggest there's something wrong and that price would go back and at least retest those lows or take them out So is it a short? It's not a short from a topping pattern perspective a to b equals CD td9 count Looks like you did get wave number four, you know That was maybe last week or even before that out there So it just looks like a good old-fashioned consolidation the weekly timeframe chart does have a confirmed roads meant to indicator bottom So if this is telling you code is that a price can close above 24 300 price should continue higher Which of the weekly chart says it really does want higher price out there So hope that helps you out with regard to Bitcoin and thanks so much for the request our next request coming in from Nicholas Nicholas a Nicholas is wanting to talk about The semis out here, so let me get those fired up right now as I'm age Specifically and let's read the question further. Good morning, Steve another beautiful day in Florida paradise Yes, except for all that's a heron dust. It is a it's kind of nasty Out there. I mean my dar's my my my my car is dirtier than normal when it does rain That's when that Sarah and dust really comes down to earth But it is good from a standpoint that is a bit drier out there and the afternoons on the beach have been just spectacular But anyways, let's continue reading the question out here. Would you please go over the SMH's support levels? And went through the oscillator and change line like was David there on a gap down this morning Thanks for all you do this. Okay, so here we take a look at the SMH is the gap to the downside right now a Gap to the downside is a bearish reversal candle So it just confirmed a sell the d-point pattern But as we can see the SMH is while doing that same thing Nicholas What price is doing is just testing support at least at this stage of the game Now support is going to be the bottom of that profile and the bottom that profile specifically is at 229 48 price trade at 229 71 the actual low so far it been 229 37 so 229 48 So prices tested and so far held support if price closes below that level Nicholas What that's certainly to you and I is price should pull back to its TD 9 count breakout level That's a 225 42 now look this is not a confirmed TD 9 count top and the reason is because the high formed on bar number seven But still what it does is gives us a breakout support level So support for the semis should be really where it's at right now the bottom of that daily profile 255 What I say was that I thought that I was right number 229 48 or 225 42 you close below 225 42 and that says we've got something else going on We take a look at the weekly time frame chart the weekly time frame chart shows us the sending channel and trend lines out there The dash lines are the trend lines the doc the dark solid a line of the same color The solid line is the channel lines the difference there is the trend lines I'm just looking at the top of the wicks of the candles and on the channel line I'm actually looking at the opener close of price to establish that what we can see is price got above that That was a breakout that was a bullish signal to us and now what price is doing is pulling back and retesting that breakout area Something that commonly happens when price breaks out above resistance. So right now inside the semis prices held support You've got pretty decent volume today. So far you've done 2.6 million shares When it made its high it was with 2.8 million shares on August the fourth out there So your question was you just simply want to understand here where support levels were at for the daily time frame and really for the weekly time frame I think we provided that so Nicholas I hope that helps answer your question with regard to the SMH's and where their levels of support are Steve Rhodes with TFN will be back in just a few and I would love to hear from you If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metals sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every Monday morning I published a gold report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting tfnn.com. Don't miss out on the next great gold trade sign up today TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology Using this first-of-its-kind program the art of timing the trade chart allows you to scan thousands of stocks for Fibonacci Formation setups including Gartleys ABCs butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're gonna love this new charting software that will even give you 30-day Unconditional money-back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at Tfnn you'll get advice and guidance from the authority and technical market analysis, and it's not just dry tedious text either Tfnn airs live financial content streamed live on tfnn.com and Tfnn's YouTube channel with Tiger TV live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the World from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the Right moves with your money watch online at tfnn.com or on tfnn's YouTube channel and become the investor You were born to be tfnn educating investors This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks We got the dollar trading out at 32 842 that's up nine points the S&P's off 10 quarter percent as a NASDAQ on 1% 133 points to the downside we're take a look at the GTE is for LB Email question here. He says good morning, Steve. Hope the new schedule is treating you. Well, it is just getting used to it The whole lunch idea out there. So I am enjoying it. Thanks And I hope it's working out well for you and each of you in the listening audience as well Can we take another look at the GTE? We actually can those are the charts that you've got up on our screen out here That is a grand tiara energy out there. They just reported great earnings, but the stock is getting in pretty hard There's is this a sell? So what price is doing if we take a look at the daily time frame You know, it's because well, we know where sellers are located there Believe it or not there. It's an end of the dollar 35. First of all First just reported earnings. So the question is Is this a sell? So you're holding that long term you're hold your holder You've just got a consolidation with inside the daily profile and that ranges from a buck 15 to a dollar 35 Each have been tested each have been rejected. You've just got a good old-fashioned consolidation So when I sell it I don't have that signal here to sell now price breaks through support a buck 15 That's going to tell you that price is going to go revisit those laws in the dollar area out there If we look at the monthly time frame chart, so the very right hand panel We can see a TD nine count top that formed out there We can also see that price pulled back and tested support that was at red oscillator and changeline So from a monthly standpoint the momentum to the upside is still there. It's really a neutral signal Lb and that's because we have an existing top and supported held out there So you got a consolidation basically inside the monthly Consolidation inside the daily the consolidation inside the weekly price just trading with inside its weekly profile That's between a buck 11 and a buck 45 out there. So You know, there's nothing here to suggest that this is going to take off to the upside the volume today in it 3.3 million shares now that was taken on the swing point from back in the trading day Lee of july 29th, which only did 3.5 million shares that day So, you know and it made a higher high. So is it pushing higher or is it pushing lower? Is the question out there? We don't really have to answer that. We know about the consolidation patterns We know exactly where the levels are that price has to overtake I don't forward in order for this to get back to its bullish ways the first level Too close above buck 35 the second level too close above Above a buck 45 the third level too close is above two dollars and 40 cents So that's what's going on inside of grand tiara energy lb and thanks much for the request and I hope that that helps you out the next question coming in from john or z inside the tiger's den John let's take a look at our eight panel chart for the nq out here This shows us for multiple time frames what the nq is doing So we'll switch over to those charts Let's take a look at the left hand side up or left hand side You've got the monthly chart now. This is a continuous contract for the nq. What do we know? We know the breakout support of 12 209 75 held We saw one monthly close below it and then the next monthly close back above it says it was a false break to the downside If we take a look at the weekly chart for the nq much like on the smh's prices hit resistance It's descending trend line area So no wonder it is struggling up at this area out there I do expect that we will see price Take that level out and then for the nq to run up towards that 14 4 12 level as we look at the daily time frame You've got a sell the d-point pattern that formed on friday with that bearish and gulping candle The first level of support is that green oscillator and changeline that green oscillator and changeline as we speak right now is printing out at 12 9 56 and change out there You can see here john that the oscillator and changeline Has been a level of momentum support all the way up If this bullish trend is to continue then price will find support at that level if price does not find support at that level Does not mean that the bullish trend is not to the upside it says that the momentum that has been in place out here Has been stinted and that price would likely then pull back and test the support of its daily profile And that's at 12 7 40 out there So the daily time frame the first area is watch that green oscillator and changeline the second level if price does close below that Is the 12 7 40 area if we look at a 30 minute time frame chart We really don't have that there's an a to b equal cd to the downside But inside the nq i can do this it's easy for me to do this on another chart out here nq u 22 and i believe the one-to-one price projection would get you down to 12 9 35 Although john i know you already knew that figure off the top of your head So even though we've got some bullish engulfing candles that have formed out here None have confirmed a bottoming pattern And in fact you can see on a 30 minute time frame that oscillator and changeline has been your deflection point So that's talking about a move to the downside if price can close above that level Regardless of the fact that it's on the bottom that level is 13,055 1355 if price can close above that then we'd be looking to move to 13089 That's not what we have right now You do have a 60 minute td9 count john that is going to likely going to complete out here The reason i say likely is because price is far enough from the close of bar number five Bar number five's closed by the way This is the level that price must close below at 12 noon as the as the clock start strikes 12 noon And that level is 13090 50 you get a close below that you'll have a day uh 60 minute td9 count bottom That would suggest at least a move to 13095 if price can overtake 13095 Then a counter trend move if that's all this is john would end at about 13,210 120 minute chart you've got that a to b equal cd to downside But again that doesn't complete until you get that when I say complete That doesn't hit the one to one level it doesn't mean it completes there But that doesn't hit the one to one level until you get down to 12935 out here the suggestion On the 120 minute chart without a bottoming signals that price wants to go make a smoke to 12892 That is the next td9 count breakout level the 240 minute chart is suggesting He wants to make its move to its breakout area as well that happens be 12 a 20 in the five hour time frame chart The level that it's trying to target is 12 867. So I'd say it like this johnny and that is this Watch the 60 minute time frame chart because it looks like it's going to complete a td9 count bottom If price closes below that Then we should head down lower and lower would likely be those breakout areas on either the Five hour the four hour the 120 minute time frame chart and so forth So I hope that provides all the information that you were looking for if not Just ping me and I'll get that information for you. Let's go to our next question That next question comes from wanda. Wanda says can we analyze gold? Thank you. We can so let's go switch over to the goldilocks charts up here I think this is going to take just a moment. I know we'll take a moment here To populate but we'll look at that same Same in essence time frames instead of charts out there For gold as we did for the nq and each chart, you know for its time frame is going to give you a different message You know if you're if you're an intermediate term trader You're really just looking at the weekly and the daily becomes noise Certainly these intraday charts become a lot of noise out there But we get a good feel for what gold is communicating to us We get to look at a couple of different things for you wanda in order to do that So we take a look at the monthly time frame chart out here We can see we've got a nice rogment and indicator top But price really been consolidating between the level about 1696 all the way up into that almost 2100 level out there So it's just a good old-fashioned sideways consolidation fairly large range out there the weekly time frame what price did Was it pulled back and attested a breakout level of support that breakout level of support was 16 94 50 Uh now what we don't have here is some type of confirmed bottom pattern But remember I have shared with you that oftentimes simply pulling back to a breakout level of support is a bottom So on the weekly chart We're going to go with there is a bottom in fact on the weekly chart There is a confirmed Gartley buy pattern that confirmed all the way back here on august 31st That or august 13th, I should say that pattern is still in place So the weekly has that confirmed rogment and or by the d-point pattern What price needs to do is overcome that red oscillator and change lines So on a weekly basis Wanda your resistance level is about 1816 Retrated 1810 right now see roads with tfm. We get back to this break. We'll continue looking at Goldilocks for Wanda Be right back This coming wednesday august 10th Basil Chapman will be hosting an all-day live webinar from 9 a.m. Till 2 p.m. Eastern time Well, he'll be presenting the technical tools based on the Chapman wave methodology a full in-depth course on his entire trading system Over the five hours of live education basil will discuss studying and practicing entry and exit points Assessing where to add or subtract from positions utilizing simple technical tools for holding positions longer Taking bear charts and adding notations tools and patterns as well as identifying three core formations that repeat in every time frame And much more when you sign up you get a chart booklet emailed to you immediately to start studying and you gain access to His daily newsletter the opening call a $149 value the cost to attend is only $295 and the full five hours will be archived Don't miss this live special event wednesday august 10th with basil Chapman for all the details and to get started today Visit the front page of tfnn.com right now The technology around us is changing every day with so much happening It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only $37 and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back folks. So we're taking a look at that gold out here We were looking at the weekly time frame chart and so one that real resistance level is that red oscillator and change line And if price can overtake that level overtaking means a close of 1815 70 or thereabouts That's then going to suggest a further move higher. So that's a real resistance area The reason I say that's a real resistance area is because we take a look at the daily time frame Price is above resistance. There was a td9 count pattern that formed out here on august 2nd That was negated on august the 4th. This is suggesting to you and I and price trade above its daily profile That what price wants to do is go target that breakdown level that breakdown levels at 1868 50 Now if price in order to get to that level though price is going to have to overcome that weekly oscillator and change line That's why I say that's the real resistance area out there that gold needs to overtake If you look at a 30 minute time frame chart for gold that has a confirmed roadsman to indicator bottom But price has been unable to do anything such as takeout support, which would be at 1805 40 So at this stage here, you just got to consolidate you with inside its profile 1805 to 1815 On a 16 minute time frame chart. I don't have any kind of a topping So I really don't have a I got wave number seven. I take that back Letter g out there. So yeah, we've got a topping signal and price is also just traded with inside its profile and a screen Osir and change line really it's a neutral signal for the hourly time frame 120 minute time frame could might form a roadsman to indicator top I see wave number seven as one other top that's out there The price is above the top of its profile and above its cost that are changed line for this time frame the two hour time frame The signal is neutral. Well The signal is bullish bullish until we get some type of bearish reversal candle out there You do have the potential for a td9 count top on the 240 minute time frame chart But again its signal is really neutral to bullish out here because price is above its profiles And that green osir and change line and finally five hour time frame chart Just getting back to a prior level of resistance out there. So really it's going to boil down to that weekly time frame chart out there Now Gold should be able to overcome that level and the reason that I say that or suggest that to you Is because when we go take a look at gold pricing all the major currencies out here Wanda and that's this next chart that's up on the screen We can see that gold is moving higher in all those major currencies That's what a bull market needs You can't have gold rising in dollars falling in euros and pounds and somehow expect that gold is going to rally Out there it just doesn't work that way But I realize it's difficult most systems. That's one of the cool things about the e-signal system Is it does give you that ability to create these? I create these charts that show you how something is priced and all the major currencies out there And that's really important, especially when you're trying to understand the global flow of capital out here So right now today in pounds you've got about price trading through a descending trend line trade out of 14 97 That's above yesterday's high. That's a bullish mode. We're above yesterday's high for gold priced in yen So that's a bullish signal. We are above the high for gold priced in euros all ph is slightly And we're above the high for gold yesterday's a gold priced in dollars So price should be able to take out that oscillator and change line I say should be but that's in essence where natural sellers are located and if price can take those levels out We should see a continue move higher again 1868 50 be an expert target to the upside so wanda. I hope that helps you out Thanks so much for the request out there I don't think there's anything else for us to do and take a look at goldilocks our next question This is coming in from dan don don q don says steve. Can you take a look at t and p? We absolutely can let's uh get Need to get my other charts back to if you give me a moment here just do a little housekeeping Get to the right chart area. We'll get to the daily weekly and monthly We will type in the ticker symbol t and p Since we're on the black background charts, I can get that going here while the white ones Update and so we can at least take a look at their profile levels out here. So t and p is uh Seiko's energy navigation out there don's question is steve. Can you take a look at it? We are Would like to hear your thoughts possible breakout or head fake? Okay So great question and here what we can see is prices trade But first of all, where's price trading relationship to profiles daily weekly and monthly if you're trained above the top of a profile Conditions are basically bullish out there Well the trade above the top of its daily profile. In fact, this most recent daily profile don formed below price That's a bullish signal. You are now trading above the top of the weekly profile It's only Tuesday But a close above 1289 is what you want to look at that would then suggest bullish mode or perhaps what you're saying there Breakout if we take a look at the monthly time frame chart Prices above the top of the monthly profile, which was at 1043 you closed above that last month And prices trading above and descending trend line So at this stage here to say goes energy navigation is suggesting that this is a real bullish move now move Now what price is also doing? It's running right into a swing point. So the question is that was made the 6 May 6 Uh t and p generated volume of 351 352 thousand shares. You're only Two hours into trading you're at 151. So it's off to a really good start So it is approaching that swing point with volume What that says to us Don is that price should at least test the top of that swing point the top of that swing point Is 1390 that's really the level that price needs to take out to then say that we really have a breakout mode No on a weekly basis that swing point is the swing point that began the week of may 2nd The volume on a weekly basis was a little over a million shares So you got to come back to this on friday thursday friday to see what the volume matrix is But we don't want a daily price is pushing with volume to the upside should at least go test that high out there And if we could take that out that suggests that this is the real move and not a fake out Let's go take a look at those white background charts another we've got those populated Just looking for any kind of a topping signal and voila. We don't have one We don't have one whatsoever So this looks good and price is well above its greenhouse that are in chains I know Don on a pullback an entry area into this could be that greenhouse that are in chains on that's currently at about $12 and 53 cents The weekly time frame not much more for us to add there No topping signal just price testing that prior swing point level and on a monthly time frame No topping signal there either. You just got a nice bottom That was roads meant to mitigate her bottom on a monthly it was a td9 account bottom on a monthly It was a roads meant to mitigate her bottom on the weekly the same on the daily So tnp looks pretty good Don and uh, but to answer your question. Is this a head fake? Really won't know until price closes above that swing point that it is trading into from a daily standpoint with volume So hope that helps you out. Thanks much for taking the time to write in and have a terrific Tuesday I think we've gotten through all of the requests out here. So that is a beautiful thing Um, so what do we want to do next with our next minute out here? Let's go take a look at what's going on in the general markets out here. So let's just switch back Oh, you know, we should do forget about that idea. Let's go take a look at apple So when yeah, we're on the white background charts Why because you know with regard to these tops out here and trying to understand where is price likely going to pull back to We should probably take a look at apple which is trading up 62 pennies buck 65 47 now on a daily time frame What apple did uh yesterday was it confirmed a td9 count top? So that pattern is going to complete today Again when you have any kind of a topping pattern What price should do is go test that oscillator and change line And in this case here that's at 160 280 So if price tests and rejects that level then what happens is we have a neutral signal for apple now apple Uh, let me see where is the top of that daily profile? That's where the sellers would be If you give me a moment out here I believe they're just at the 157 22 area. They are So uh price is well above the top of its daily profile above its green oscillator and change line It's signal even though it's got a td9 count top is um That signal is uh is neutral If you look at that weekly time frame chart, no wonder apple is struggling trading right into its bearish structured profile The sellers are in the 160 375 to 167 64 level you close above 167 64 you headed to 171 53 steep roads with tf and n will be right back This to gold owns and operates the largest undeveloped gold project in australia the mount todd gold project This to gold just completed their feasibility study resulting in a 7 million ounce gold reserve This to gold has all major permits approved and has retained c i b c capital market assistance in evaluating alternatives and in completing an accretive transaction this to gold trades on the nyse american and tsx under the ticker symbol v gz This to gold executing a strategy to create shareholder value You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life Before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tf and n dot com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman and your inbox every day first time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up tf n n dot com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tf n dot com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts Videos and data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tf n n dot com educating investors tf n n has launched the tiger's den hosted at discord tf n n has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The tiger's den available to all tigers and tygruses for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders Just visit the front page of tf n n dot com Welcome back up folks. We got the charts here for swim swim up on our screen right now We can see that yesterday price closed above the top of its bearish structure daily profile Today would be day number two if price can close back above 5 95 as we come into the closed day And that's a suggestion a change in trend now that change in trend would then suggest that price would move up to the 882 level out there um if price uh If price does not do that Close above 5 95 that is you could get it run all the way back down to the bottom of that profile If there was a close below 5 64 today That's the center of its slightly bearish structure profile Then dan the signal to us would be price is going to go target support five dollars and 23 cents. I don't have a bottom Pattern let me just make sure that It's close. Let me see here that low Is 571 where was this close? Close was uh 5 49. Yeah, so there is no bottom pattern out here Needs a bullish reversal candidate to confirm a roadsman to medicated bottom And man, this is ugly when you take a look at the monthly chart. Nobody in this is in a really it's in a winning position out there So that's what I see when we take a look at uh That's what I see when we take a look at swim out there. Look real quickly. Let's go back take a look at the uh The daily equity future contracts out here again Our thoughts are right now that what price should do is pull back and test those green us that are in change lines And if those levels hold The us that are in change line is active to support for the last uh couple of months out here Almost the last couple of months that is really the next buy point and signals They move with us moving up into the september time frame and if we change over take a look at the dow charts We took a look at a couple charts where price was testing their descending channel and trend line areas out here I believe the dow was going to do the same thing and if we take a look at the either the daily time frame That's the rare right hand chart with the weekly time frame. It's got those Trend channels in there price should target the 33 755 area to 34 007 as we get into the september time frame Folks stay tuned. Uh, you've got the great programming for the rest of your day And I will see you again tomorrow 11 o'clock sharp. Have a terrific tuesday. We'll see you on wonderful wednesday folks