 of Traders. Sign up today and become a part of this educational community of Traders, just visit the front page of TFNN.com. The following is a presentation of TFNN. What you see with Larry Pesavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pesavento. Hi everyone, Baselchap and Cindy here for the one and only Larry Pesavento. Larry's out today and he'll be back tomorrow. I wanted to show you something very interesting. Look at the dollar. I always look at these patterns. The patterns just repeat. Larry talks about patterns, trade what you see. He talks patterns all the time and he never talks moving averages or anything like that. He's got his technique. Everybody has their own technique and I believe very strongly that if you have a technique that works, repeat it over and over. Nobody's going to complain if you repeat something over and over and it works. Just do it over and over and over. I look at these patterns straight line up, straight line down, cup formation. In other words, you're going from one place down and coming back to that place. How do you treat that left side high if it's a cup formation or a V-shaped formation? If it's an arch formation, how do you treat that left side low when you come back to it? Did you come back to it with only two peaks and then you failed? That's very negative. Then there's a pattern that combines one and two and one and three. This is one and three straight line down, straight line down and then a little H pattern. This one's a successful one at $100.79 of the dollar currency, the dollar index on the 14th of April made a low. It made the lowercase H that can go to a lowercase M if it holds that left side low. That lowercase M, if in fact you start to make higher lows, at that point if you make higher highs and close above the first arch high, that's really good, especially if you haven't taken out the left side low. If you've taken it out, then that's probably a limit. The upside arch is a limit on a bounce. Well, there's a little H, that makes it M over there with the second arch. In other words, it's a rather large arch formation. All of a sudden, the MACD, the Moving Average, starts to rally. The Stochastic has made a little earlier than that and it starts to rally. Low and bold you've got. In the Chapman wave, we're always looking for images. Just real quickly here for some of you who are new to my work. I try to identify the lowest low bias that we did in October this week. We've done every time we've tried to pick major lows in the Dow. And we count E successively higher peak. As long as it doesn't take out the starting point, then you have to restart all over again. But if, in fact, you hold, each higher peak is alphabetized A, B, C, D, E, F, G. Add D. Other things can happen. You can have your sharpest decline. Look, there's your D on the doji candle in 105.88 on the 8th of March. Look at that tumble from 105.88 to 100.79. It doesn't sound like a big deal, 5% or 3.5%. But in a currency, that's a big deal. Anyway, it's at that fourth highest peak that other things can happen. If within three bars you make a new high off the D, you can think maybe there's a parallel count going on. So what happened? Your dollar made a high, well, I should say our dollar, because we've been along since 2018 at 90.07 with the UUP, ran all the way up to 121 and all the way down. But our stop held in the UUP, we've taken a little bit of profit, still keeping it as a core, because I think it represents America's economy. This is at so far. It's just an icon. It's like a Harley-Davidson used to be, an icon around the world. But in the meantime, three bars later, you make a new high, a recovery high that is from their D. So your high is 103.62. Pulls back, pulls back. That's a peak D, peak D. Leg E starts at 103.65. Well, one penny above or one tick above. 103.62 starts your leg E. And this is a floating ladder. This will stay E, leg E, until there's a lower high. Then it becomes a peak. But I always do this. I circle for decades. I circle D going to E. If within three bars it goes to a new recovery high. Why? Because that E could also turn out to be an A. If there isn't a pullback under 102.60, I'd say a close under 102.60, and instead we move even higher away from the 200-period moving average. Look at that. You pull back sharply from that eighth of March top. Try to test it failed, and that was it. You didn't even look at the 200-period moving again until you got closer and closer, and today you hit it and then broke above it. But if you look at the weekly chart, all that's happened is we're really in a rectangle formation. There you are. Just to go like this. I grab the corners. I put that in. You're in a trading band. And until the dollar actually trades above this arch, because it hasn't taken out that low, until the trades above that arch high go to about 106.35, 106.42, I'm just saying it's in a range. But wait a minute. I use the stochastic, the slow stochastic. It's a really important tool as part of my plethora of instruments that I like to use. And it says, holding steady at 89% and flat, if you read any textbook on technical analysis, the terminology almost always is above 80%, it's overbought. Below 20%, it's oversold. I say, what are you talking about? That's the exact opposite implication. The implication is that it's overbought. Therefore, it must come down. No, if it's staying above 85%, especially in the 90% area and flat, that's fantastic. That's tremendous buying support. Well, the dollar has buying support. That's all I wanted to say. Where's my next target? I like to just have these things that the chart tell me where it is. And the chart says that high that was made at about 105.10 on the 15th of March. That would be my target, but I really would prefer to go to these candles right here and say, my next target, I don't want to go too high. I haven't even got a breakout yet above the 200-period moving average on a closing basis. So I would just say right here at 104.74, that's kind of a target that I'd have in this particular phase. But it's just on the left side. Now, what I usually do is you see this here, the left side, right side, I use a plum line. If I can't use the exact low as a plum line with a number of bars on the left side equal to number of bars on the right side, I have to use it, I'd say artistically, but it's not true. What I do is I look for a particular candle. Well, here's this particular candle I'm looking at and said that the midpoint was right there. And what happened? We went right to the target that I had on the left side or the price was giving me as a level to look for 103.52. So we hit it right on the day that we needed. Now, and that used to have me inside which target repellent line. That line is still active. You can see me touching it right now. Just for now, I'm going to make it, I usually make it a dash green going up and pink on the way down. But right now I'm going to make it blue so you can see where it is. Okay. And there are specific rules as to how you use to have me inside which target resistance line or the target support line. Hey, talk about target support line. So XS. This is the three times short. They're semiconductors. Look at that beautiful art formation in a time sequence boss symmetry right there to your there it is. Oops. I moved it to the right. I'll be back in a moment. Basil Chapman. We're looking at currencies. We're looking at the metals. We're going to get back. And of course, we will look at the SMP. And as we go to the break, that SMP hit a P, E, a D, had a double top in the one minute chart and now it's pulling back to retest the 414. It's a 416. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60 minute webinar archive. He just hosted forex strategies and fundamentals. What is behind the Tiger Forex report? For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Finishing at 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. Visit TFNN.com for Steve's market newsletter, 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. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk free with our money back guarantee at TFNN.com. TFNN Educating Investors. Toll Free at 1-877-927-6648. Internationally at 727-873-7618. Hi folks, I just got asked about Tesla on a 60-minute chart. Let me just go and see if I can find this. I've got just about everything here. So I'm going to use one that I suspect has everything. Let me just see if this is where does it show up. I hope this is all that it has. Okay, so this is the daily SMHs. I'll go to Tesla and you want it a 60-minute. And then I'll see what the question is. Put this in as a 60-minute here it is. 60 minutes. Okay, so the question, can you look at Tesla Bowser? The RSI on the 30 and 60-minute chart is well over 80. That's the RSI. I have the RSI. It should be here. Oh, do I not have the RSI? I'll put it in. RSI analysis. Okay, let's find RSI. Because I've got every single thing here except RSI. There it is. RSI on status click. Now try to find it, huh? Oh, there it is. RSI. Okay. So the RSI on the 30 and 60-minute went well over 80%. Yes, now that's different. I use the RSI in a slightly different way. What happens very often is that 80% level is just telling you that it's there and assess what you're looking at. But look at this. Look at the 9. John, the 9 is way above the 14-period moving average. It's been like that ever since the 16th of May. And it's continued. And just the last couple of days is cross-negative. So that's what you say. I'm strong up with momentum. I'm suggesting a retest of 192. No, no, no. I like to use the technical tools that I have in concert. I use the 9 and over 14, 9 over or under 14 as my last resort. The one that's going to tell me when all the others have failed, you can stay in the trade. Look at this. You could have stayed in the trade much longer. Even yet, you stay in the trade longer after the RSI hit 80% and then pull back. So I'm looking at this and I would rather say to you that on the 60-minute chart, it shows Tesla under some pressure. It has just seen the 9-period moving average over the last two bars. That's 120 minutes turn negative. But at the same time, the 200-period moving average, which is way down at 173, suggests that until there's a close under 162.94, this could go in a sideways trading band. But the gap that we see and the attempt to fool the gap is telling you that there's strength. I don't see strength to 192 at this particular point. I think the strength is to about 184 to maybe 86. And then I think it makes an arch formation because if you look at the daily chart, I know you didn't ask me that, but I'm going to show you something very interesting. So yes, Tesla made a peak E today if this decline continues. But in the daily chart, the 9-period moving average is still very strong. The MACD is good. Stochastic is holding steady at 88% above 80%. I love that 85% of more. Great. On-balance volume is suggesting it's starting to weaken. And the relative strength has been strong, but just lately it's weakened a little bit. So 190, ooh, that's very high. 198 is the 2-period moving average. Look how it failed so many times at 208.44 on the 18th of February. Look at those tests of the 200-period moving average. Bam, it gets hit. Test again on the just end of March was March the 21st. Peak C-minus fails and comes back down. So it's making lower lows and lower highs. This is the test right now. And I suspect that as we're looking at it, it's in a sideways. Look at the weekly chart. It's in a sideways action. So to get to the 192, I would have to see this gap filled by Friday. Friday at 3 o'clock going into Tuesday will be the first day of the next week. And we only have two trays of the month. So I think to get to 192 is going to ask a lot. But I do see a balance. And I do see, let's go back to the 60-minute chart. 60-minute chart. Let me just change that. Let's get it up with the 60-minute chart. Didn't I have it right here? Uh-oh. I'll have to find it. I just changed something to a 60-minute. Let's look up here. 66, there it is. 60-minute. Oh, wrong thing. I was looking at this. There it is. 60-minute. Yes. So the 60-minute chart is suggesting I'm just going to switch it to a 30-minute chart because that's going to give me a little bit more detail. Yeah. So the 30-minute chart is showing you that the pink nine-period moving average under the 14 is a real drag. So you want to see a close, a one-hour close above the gap down high of one. It opened at 182.23. It opened at 182.94. And it's trading at 182.21 right now. So it's going to be tough. And also, in this particular environment, I would say be more conservative in your upside estimations. Why? Because when you're looking at, when you're looking at rebounds in an environment like this where it's really just news related, the bigger picture right now is suggesting if you look at MasterCard or Visa and some of the other stocks that are really taking it on the chin, I'm going to have a look at Ulte in a minute. I'd better write that down because I'll forget. This is very select. This particular move to the upside is becoming more and more select. So all I can say is that I think the downside right now with Tesla, because look, it pulled back with two 30-minute bars. And I said one, two, three, four, five, six to the upside. It's already making a leg B. So I like the idea that you're looking towards the upside. I just think that's a little bit aggressive. So I would put the, I put 184, maybe 185, 80. And then I think it does some retesting. I hope that answers your question. But I like the fact that you use it. Look, I've got the RSI. Usually I put the RSI inside the stochastic and on balance volume chart. I also have the CCI. I've had it for years. People have asked me about it. And I, you know, I just, I keep it there. But in the meantime, what I'm looking at is the RSI is at 43. It's kind of weak in the 30-minute chart. So I'm just suggesting to you be a little bit less aggressive in looking at the upside, rather say, what is the support that it needs to hold by 3.30 this afternoon? I would say 181.55-ish. If it takes that out, you've got to be a little bit careful about the close. The next question I had is, oh, so we were looking at the currencies and we were looking at the dollar. And what I said was, in my analysis, there's a lot going on here. This is like a magnet, the 200-period moving average. But as soon as it can push into the 105-80 area, suddenly that magnet becomes a propellant. But that weekly chart says, yeah, you don't get excited. We're stuck in a range. We're holding very nicely. We've had a beautiful cup formation that could turn into, so a beautiful arch formation, dreaded H, that could turn into a cup formation. But I'd like to go one step at a time. To do that, look at the EURUSD. This is the EURUSD currency pair. It made this big D. Remember, D is what you're always looking for. If I do a left-side, right-side price time test, it says that by, and we do the date just before we go to the break, one of the time flies when you have the fund. Right here at, on the 1st of June. But I would say by next week, by Tuesday, Wednesday, we could be testing left-side low of the 24th of March, which is at 107. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. 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, TFNN.com, Educating Investors. 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. 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We're going to go to Mike in Ormond Beach. Mike in Ormond Beach. How are you? Hey, Basil, I'm doing great. First of all, I want to thank you for always putting in the extra time and always being our substitute teacher. And it's great that you do that. You put all this extra time in and fill in for everybody. Well, I appreciate you saying that. Thank you. I'm putting a shopping list together while we're having this pullback into markets. And one of the things I'm looking at is 18 feet, and on the weekly and the monthly chart, I'm looking at the low of 1446. You know, of course, I'm going to see what happens when it gets down to that point. But do you see any areas lower than that that might be another potential target if that should break? Excuse me. Yes, what I'm looking at here, and this is one of the reasons why for subscribers, I've said for so long, I would have loved having not got the axon or chevron where you've got this fantastic capital gain with a fabulous dividend. Now they kind of all digest in the gains. It's difficult to go there at this particular point. I've said the communications area, they also have good dividends. But the problem is that with so many people cutting the cord and just, there's a lot of competition going on there. So ATT was a star. It was up in the 20s and 30s, and even hit 32 a couple of years ago. And here it is down at the 16 with this H pattern, this lowercase H pattern that keeps making lower lows and lower highs. This is the trouble I have with it. I don't have any problem with you having a figure, having a number, and I suspect that dividend-wise, if it gets down to the 14s again, it's going to become attractive just on a dividend basis to a lot of fund managers, maybe even starting in the 15s. So that's what you need to watch for, is a start to show some kind of support. I don't like the area. One of my favorites was Comcast, but we never did get into it because I thought it was the same. Oops, I typed that. I typed it on the chart. Let's just go here. CMCSA. Now you didn't ask me about it, but I wanted to show you what the data chart is way better than the weekly chart. The data and weekly charts look really good. But when you look at the monthly gain from 61 down to under 30, cut in half, this is just a retracement. So this is one of the better ones in the sector. I'm not going to answer your question, but I'm just saying I would prefer if you're going to go to the sector, think hard and fast on a stock that has everything price-wise going against it. And every time there was an opportunity, look at this monthly chart, and even the weekly chart, the arch formation at APD and the weekly chart pulling back, it's failed. So I'm just saying think hard and fast about even if you get it in the 14s that's really good. I said to subscribers way earlier, I don't want to get a fantastic dividend on a stock that takes away my capital by 30%. What the heck is 5% or 8% when you're losing your capital, not just your dividend? So that's what I'm saying. That's one thing. Now we've got that out of the way. What I would say to you is this, and I'm going to just, oh, I haven't got the chart. Yes, I do. No, I don't. I thought I had the chart. I don't have the chart. Why did you do this? I'm not sure why you chose AT&T just because it's one of the uglier charts. I mean, even Verizon, look at this, Verizon is an ugly chart. And they all do the same things. In fact, I am now looking at it. I think Verizon's probably a little bit uglier. So they have a serious problem. But let's talk again when it gets between 1550 if it does and 14s. And let's do an assessment because it might be that it becomes a value stock and therefore it gets measured differently. And then it could have a pretty nice price gain with dividends and a higher dividend. That's different altogether. But at this point, let's just wait and see what happens if AT&T gets down to that area. I don't like the chart. And look at this, 4, 1, 2, 3, 4, 5, 6. For six weeks, it's made lower lows and lower highs with red candles, one little tiny doji there as a pit stop to refuel for the downside. So just have a little patience. Yeah. Yeah. And I'm looking at it. You know, in Tesla, I'm like a short-term trader. I use very tight stops. And a lot of my trading that I do now is intraday. And so, you know, I'm not going to, you know, even if it does form some kind of a bottom, when it gets down to that point, you know, if I scoop it up, it's going to have a tight stop underneath it. Okay. And I don't mess around. But in this environment, this intraday trading, if you're doing it and you feel comfortable with it, perfect. This is exactly the time. And look, even today, look, we had a sharp move down in the E-mini. And all of a sudden, this E-mini goes to a single leg up. It's an E or an A. But inside, it's got an A. And now it's running. And I said earlier that the 41-48 level in the E-mini has been for a month. It's been the fulcrum up and down and up and down. Who knows if we're going to get there? So the intraday trading, I think if you're doing it well, that's great. But on the other side, if you're looking for to get a position play for the second, for the, no, I put it for the possibly starting in the third quarter, going into the fourth quarter. That's where I would not be surprised if stocks like Verizon and AT&T and the Comcast suddenly become very interesting. I hope that helps you. Well, thank you very much for calling. And we're going to go to Ari and Arcadia. Ari, how are you? I'm doing well. You've got the replay going on. It's got a little delay. So, you're there? Ari, I'm about to take you if you're ready. So, Ari, I think, I already want to look at, Ari, just say hi when you're there. Just say, I'm here. But you want to look at Wheaton Precious Metal Silver. Are you there? Yes, I am. Okay. So, Ari, you want to look at WBM trading that 98 cents at 45.15. So, you've been in it for a while. Did you take profits? Are you looking at the downside? I can't remember now what the position was. I think you were looking to see whether or not it was going to turn down, right? Yes, I took profits. I called you up. I said consolidation. I took profits and I switched to the downside. Okay, very good. So, what we're looking at, folks, is if you measure this left side right here in April, about the eighth, we're at here 50, the 52-53 level. Then it pulls back and makes the cup formation and it did a double re-test right there. And it's just amazing how many stocks go to within pennies of the previous high and then tank all the low. So, in this case, 52-58. Oh, I hear the music. It was the high on the 9th of May and you can see MagD was weak stochastic. Harry, hold on a second. We'll be back in a moment and we will talk about the goal of... 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 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 in 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. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter Market Insights today and buy all of our products and newsletters 30 days risk free with our money back guarantee at tfnn.com tfnn Educating investors. Biotech is booming, but for how long? 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Close your back, bounce your trapezius, leave your larypus ventus out. We have Ari from Arcadia on the line and we're looking together. We're looking at, let me just do this, click, new parallel, got it. And now I want to make it red. Okay, so Ari, this is what I'm looking at here. The 200-period moving average of 43 looks to me like it's a target. It might bounce a little bit and make an H-pattern before it comes down to retest it. This is an acceleration down. This is the second ugly red candle that has had since the little doji candle three days ago. If that's a halfway marker then I would say 43-42 will be my target but in terms of time, I usually like to use the midpoint of the cup but I also like to use a particular candle and that just says that next week, sometime next week, there's a chance that at 45 right now, if it takes out 44.30 and I would say today's already Wednesday by Friday, if it takes that out, there's a chance that sometime next week it'll test the 43s. That's the area that to me is going to be really important because I like to use trend lines and they're very simple things to draw. So I'm going to draw this one right now from the low back in October and I'm just going to join the candles. I like to use the wicks initially and that just confirms right here that this trend line is expanding, wedge formation. It's going to go into the Chadwave inside track propellant zone and that's what depends when it happens. It's at 43.99. Next week it's at 44.20 because it's a rising trend line. That's important, but if you look at the monthly chart and I think we spoke about it, I said it's finally out of the resistance of the Chadwave inside track repellant zone. If this is going to become a propellant zone we'll probably have to go into the 54.55 area and hold there for at least one month. So far it's been able to only for one month go over that green line. Now it's underneath it's even testing the pink line. So I think Silver Wheaton they call it Wheaton Precious Metals right now it's vulnerable to selling pressure at any point you can get one of these pops to the upside if the dollar just pulls back for a day or two because I think the dollar is going to go a little higher but in the meantime I think you're absolutely correct looking at the downside and as I say 43 is ready 200-period moving average it hasn't been there in the daily chart since whoops I didn't mean to do that since Yeah I'm here Oh right now I'm looking and I was quite early because I was pulling the chart it was just the perfect place to see the rebound that is this is a daily chart the eighth of March it made a low just for two days underneath the 200-period moving average and then boom it took off so that's the place that it should come back to the 43 is ready a target. Hope that helps you I appreciate it thank you Thank you very much and congratulations you really worked that beautifully to the upside and now the downside congratulations thank you for calling So folks another question came in could I look at Bud BUD Bud is what he said there's Anheuser-Busch Inbev SA-NV beers, liquors all the stuff yes the same thing happened look it went to the 200-period moving average in the dating chart BUD is the symbol it didn't use that as a propellant area back in March the last time it was here November the ninth a little birthday party there for Tom O'Brien and my wife on November the ninth and that was the last time a doji candle and that was the takeoff level so it's now under that so I'd say this is now resistance in the 59 to 61 area is trading at 57 it's below the low that we were looking at is a little double bottom back in February of this year so the next level of support is this whole cluster formation between 55 and 54 yep that's kind of what I was looking at before that's going to be absolutely imperative to all I'd even say 55 is probably the number that if it breaks under that it's got a real problem I hope that helped you that was in the Dan and I'm just trying to check out who asked me about that you know too ok good now the other question I want you to show you this look here the USDJPY this is the we were looking at the currencies earlier on look how strong this has been actually this looks exactly like the 100 like the one minute chart from a few moments ago this has started a new leg to the upside ABC so that I'm putting in a down arrow because it closed under the 14 period moving average and I'm putting this as an up arrow it's in a buy mode look at the stochastic at 93.94 I mean that's fantastic so the yen is strong and I'm going to do that in a moment I was asked about that yes so this is peak A in the weekly chart pulls back makes another A right there because it didn't go higher so this is a B right now and that just says that the target I would have just based on price performance is the high that was made the week of the 25th of November of 140 point 140 point 29 and it's trading at 133.23 how it handles that is going to be important because this really ugly candle the week of the November the 11th 2022 if we can get halfway into the WIC it just says you know what I'm I'm in a buy mode a very strong buy mode for now I've raised the base of support necessarily what you want to know about the other thing was a British pound I'll just do that real quickly British pound has got this art formation second peak D right there sorry second peak E pulling back whoops I didn't need to move that and that just says that by the by next week there's a pretty good chance that 1.229 will be targeted and it's trading right now at 1.2376 and the resistance is at 1.24 to 1.248 and the weekly chart is still very strong so for this 9-period moving average to really collapse and break under the 14-period you probably have to see the British pound at 1.21 and I should know I just changed British pounds from dollars and I can't remember what the rate was was it 88 cents I can't remember next thing we want to look at is gold gold is pulling back it's come back from the low of the days in 1965 I'm using the same principle of a peak D the fourth highest peak in the Chapman wave to say it's pulled back now you can see how it's held this key support level of night in the 1950s if gold at any point in the next couple of days going into Tuesday closes under about 1946 there's a real good chance that over a period of a few weeks it's going to test the 1922 to this 200-period moving average of 1916 but this age pattern right now the dreaded age that we always talk about so far it's held very nicely and that says there's room to bounce a little bit maybe to 1993 straight into 1965 right now but that weekly chart is starting to weaken so the WEEK is starting to WEEK and the MACDs turned down the stochastics now under 80 at 69% on balance volumes now but that nine is still strong but it's turning down so gold and silver I'll do silver right now oh man we're going to go one more oh silver's hit the 200-period moving average remember last week I said that was that was the target 23.25 it's right there as we speak I'll be back in a moment Basil Chapman sitting for Larry Pizzerman to dust on 216 if you're looking for potential trading setups in the stock market then Rocket Equities & Options Report is a newsletter you should try and it delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN Educating Investors you might think that if you want to be successful at trading in the stock market you're going to need a 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and Tigresses for just $1 for the year There's no cash or added costs when you join our community of traders Sign up today and become a part of this educational community of traders TFNN.com Don't forget you can listen to TFNN live on your mobile device 24 hours per day Go to TFNN.com Then hit watch Tiger TV That's TFNN.com Then hit watch Tiger TV I know there are a lot of Chapman waivers out there and there are always questions about these things So look, if I make this low right in the one-minute chart at 13.15 in the distant time as the low I'd call this because that was a D and then it went to a peak ABC but underneath the previous highs that's C pulled back sharply but it didn't fail didn't take out the initial low of 12.20 at 12.20 the 41.14-ish area So I decided to keep that as an E but the 9-period moving average crossed positive so I called this a peak A I like to do this in my own work I make that a phantom peak right there you bump in the on-balance volume it says you know you're traveling in 25-cent increments take that as a B because if you get to a D you might think you're waiting for a C you're waiting for a D, it doesn't come this way you're ahead of the game but if you get a D, just move everything back to where it should be, there it is there's your D, there's your big candle there's your C and that phantom B gets taken away because that's where you were and now the 9 is still positive you're at 41.27 and the 10 I was going to say weekly, the 10-minute have gone from the 1 to the 10-minute is starting to improve a little bit so that's the way I like to do things step by step, so I had a couple of questions that came in that I think I'd like to deal with I'm having fun over here and if there's anything that I want to trade or whatever, I'll just do it while while we're doing it, so I'm going to do the news from next and then I will stay for the next hour and do the show that our late friend, David White used to do, missed him so much we'll be back in a moment I have to do the music play alright, while the music is still playing I had a question about crude oil I never really got to the crude oil during Larry Shaw was going to but the lowercase H that goes to a lowercase M is what I typed in here, I'd drawn in to say that that could stall right here and there are a couple of things I'd like to talk about I'll do that in the next hour so I'll talk about that, I'll talk about natural gas, why I was negative on natural gas thinking this was just a fake out to the upside there are a couple of things I'd like to do maybe even platinum, let's see what platinum is looking like right there, whoa, PKF and now it's making a one to one to the downside hmm, a lot of things I'll be back in a moment, we'll do the news and then we'll do the next hour 2 o'clock to 3 o'clock eastern time see you in a few