 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 day folks welcome to the September 3rd the fantastic Friday edition of today's Trader's Edge show I'm your host Stevie 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 is having a great day hey let's make sure we have an extraordinary one and the easiest way to do that is 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 circumstances that life is going to toss at us now today you and I we're going to 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 you and I just passed one o'clock in the afternoon although right now it's just past eight o'clock in the morning so we're recording this show uh early we're going to try to make it as pertinent as we can for the day if you're listening to the replay if you're listening early we would love to hear from you so you can give us call it 877-927-6648 if you can't call in well we've got you covered there too you can send me an email now if it's one o'clock don't do that but well you can send me an email if you want it just don't be able to respond to it live on the show or anything but you can right now it's steve at tfnn.com and inside the subject heading if there's something you want me to take a look at please put a radio show question in that subject that'd be great of course in our Tigers Den for those that are joining us you can send me a private or a public message out there so let's go ahead and get this show started on a fantastic Friday of course this is Tiger Financial News Network again I'm Steve Rhodes and welcome to the show right now we got futures we're going to take a look at the equity futures out here you got the Dow up 36 points the NASDAQ is up 20 S&P is up six Russell's up seven of course what does all that mean well we're going to go take a look at the charts and we'll show you what that means if we take a look at what went on last night over in Asia move inside the Nikkei up 2% we're going to go take a look at what that means as well as well as look at what's going on inside the Hang Seng and the Shanghai we've got both the DAX and the FTSE in Germany trading higher right now they're up by 11 and 16 the DAX is up 11 the FTSE is up 16 we've got gold on the rise this morning it's up about six bucks trading at 18 17 it's daily with the resistance level that we'll look at Silver's up 22 pennies about 1% she's trading at 24 14 lights we crude is up a quarter right now it's trading at 70 and a quarter natural gas up a little over a penny 4.652 what we're looking at copper's back a bit 30 your treasury down three ticks out here trade at 163 10 US dollar index not doing much now there's a delay a 10 minute delay on my US dollar index so this is not going to be exact this is of course at 809 in the morning it's at 92.21 commodity wise we just take a look at some soft commodities out here the biggest move is coming from cocoa up one and a quarter percent otherwise not a ton of activity out here we could take a look at the any of the futures contracts that you'd like of course you've got to give us call it 8779276648 or send me an email or a ping inside the tiger's den so let's begin the morning here how does Stevie begin the morning take and look at the markets you know so I take a look at this but what does this mean what this means to me is we've got to go take a look at the charts and by take a look at the charts let's go start by taking a look at so I'll give you a feel for where I start my day out here what the newsletters what newsletter subscribers are seeing and that is really just trying to interpret what this with the chart that shows you know what the where price traded to or where it's trading but more so what's important here are the patterns that we take a look at so as an example we take a look at the Shanghai index there's really a couple different patterns that are out here there's an a to b equals cd let me show you that I can't I don't have my normal tool to draw that in but but you and you can do this too at home you know this here's an easy way to do a one-to-one a to b equals cd you know which is copy that line to maintain that exact same line so don't like draw a new one and just so you can see here there's an a to b equals cd pattern inside the Shanghai if there's a various reversal candle that forms that'll confirm a sell the d-point oops sorry about that uh let me try to actually delete the proper thing out there so i'm going to delete that so that's one pattern that is in play the other pattern is that the Shanghai confirmed a td nine count top today and uh what's interesting here is if you take a look at the oscillator and change line as it was changing colors price was testing that level which is a very bullish signal out here so let's say you were interested in you had a hankering to go short the Shanghai I don't know what ETF you would use to do that out there but you would have a topping pattern that is in play if price closes above the high of yesterday that negates that topping signal that would suggest closing out that short trade so that's what's going on in the Shanghai it has a topping pattern in play if we look at the hang saying it actually has a bottom pattern bottoming pattern that's in play you can see this has generated rosement to indicator signal but what is missing from this pattern is a bullish reversal candle some of the times we don't get that price is above the oscillator and change line and that suggested a further rally could unfold out there the more important line is a green line is better than a red line out here of course it depends whether you're long or short of market so get better perspective so do we have a topping signal here in the hang saying no just really maybe more of a consolidation pattern than anything else at this stage of the game but if we take a look at the knee came a gigantic move last night you know one would come in and say look at that 2% move that uh 584 point move oh let me pull this back a bit make it a little bit easier for us to to read and you can see and and and this is a wide-ranging bar but what price did so now it this confirmed this this being the Nikkei 225 has confirmed a TD9 count top it has done it on the bar following bar number nine which is labeled bar number one now price is closed above a TD9 breakdown level out here so is this a real top or not i mean this is a strong bar taking out resistance it's very possible but the Nikkei is not one that i would play to the short side at least not just yet i would need to get some more confirmation but there is a TD9 count top now we want to understand these patterns of what's going on internationally especially come monday's trading now our markets are closed monday but they're not closed over in asia so if we see the Nikkei take out it's high this is really important if we see the Nikkei not that the Nikkei necessarily is going to represent what's going to happen in the us but that would be quite a signal so if the Nikkei takes out that high closes above that high it will certainly know that on tuesday when our us markets are reopened but we'll we'll know that quite frankly monday we'll know monday uh at about uh this time so uh if that high gets taken out the reason why we bring that up if i bring that up is because we have so many TD9 count topping patterns inside the us so we want to understand what's going on internationally so the Nikkei does have a TD9 count top let's see what kind of action we get come sunday monday the DAX the DAX actually has a TD9 count top you can see bar in a braid out here this form well i'll just expand out the chart a bit so you can take a look at that so this has a valid topping signal this is on august the 13th when it generated that and selected just a sideways move now the key level inside the DAX is 15 600.80 if price closes below that that would signal to you and i a change in trend out here if we look at the footsie the footsie's message is slightly different now the footsie has wave number seven that's letter g so it does have that top that's in place but price is above its green oscillator and change line so that says a further rally may unfold out here so a different message in the footsie than in the DAX if we look at the US dollar index the US dollar index and the euro let's keep these two charts here small so the euro makes up about 57 percent of the US dollar index you can see this has a TD9 count top and that is below TD9 breakdown resistance and the US dollar index is going to form a TD9 count bottom today the bar following bar number nine so the US dollar index may be putting in the bottom while the euro puts in a top steve roge with tf and n will be back in just a few we'll go take a look at the equity futures markets and see what their signals are suggesting to you and i will be right what's separating you from the most successful men and women on wall street that's right information having all the information gives us the perspective we need to place the right trades at the right time the TAS profile scanner is the premiere market profile based scanner powered by its acclaimed TAS proprietary algorithms this feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks ETFs commodities futures and forex this powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen for a limited time you can save $100 off your first month by using the promo code upgrade and you still get a 30 day money back guarantee so you have nothing to risk level the playing field with the TAS profile scanner which you can find under 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727-873-7618 welcome back folks say before we go take a look at the equity futures we did have one question that is coming in this is from hector and the fuel injectors that's hector and patty happy frosty fosters friday i do like a fosters beer of course that's when i get my taste back out there because right now when i drink alcohol it just tastes like rubbing alcohol and that's a nasty kind of a flavor that'll make you want to quit drinking all together but then even hector is asking about ticker symbol a b b v that's ab v out here and the question is a b b v can you please give us a possible a b equal c d by the d point scenario thanks have a great weekend you too i can't so not because i can't but because i can't because there's no a to b equal c d pattern that is present if you're talking about to the downside yeah because you're looking at a by the d point so let me just expand out the chart here for a b b v the the only way that i could do that hector is my assumption would have to be that yesterday's high would be the c point of the a to b equal c d pattern i could show you that i will show you that but that's not really what i see out here at least not at the moment so you know for the a to b equal c d it'd be the high of two days ago it would be the low of two days ago that would be the b point and then the c point being yesterday's high out there in fact my system won't even really do that that well so i guess it's my other the other tool that i've got that will uh my ninja trader seven so i don't have that but here's what you do need to know about a b here's what i can't share with you about ab v out here price yesterday so uh would big move you know yesterday it explored the entire profile weekly profile that is so price got down to support 105 58 that is what ab b would need to close below in order to signal a change in trend now let's pull over my other charts just see hector and patty if there's anything else that is out here so on the daily time frame price pulled back and is testing close below it slightly below it's breakout level 1289 so i would say a close below that today is going to suggest lower price now that lower price just may be the bottom of that daily profile out there um and if price gain our weekly profile that is again that's in the 105 58 now price closes below that not that we get any kind of a to b equal c d pat well not at least yet we need more bars to actually form a hector but if price closes below 105 58 where will it head to i'm going to look at the monthly time frame chart you'd also see so the monthly time frame chart has a valid td9 count top out here the month just began but a close below the oscillator and change line which is currently on a monthly basis that is currently printed a 1269 that would suggest that abbie could pull all the way back to 86 dollars so there are two levels to be watching in abbie uh 105 58 in a price closes below that then we would say well there's a target of 86 bucks on its head out there so hector i hope that helps you out so i couldn't come up with an a to b equal cd pattern to the downside for you and thanks so much for writing in and have a great weekend holiday weekend as well no there is another request out here and this is inside the tiger's den this is s and p and he would like me to really be able to track ethereum but i don't get that data feed out here and so i can't put that on my charts but there is an etf i wasn't aware of this there's an etf for ethereum it's called ethe so we're going to take a look at ethe let me get that going on my other system to uh and and i think you're just asking uh i'm just asking if can i chart it in essence looking for any kind of signals that might be out here so you guys have to do the work to see how well ethe tracks ethereum out here uh but let's at this stage here i'm just going to assume that it is relatively closer is very accurate out here so what do we know right now what we know this is going to be the end of the week if ethe can close above 35 18 that will be bullish because that is the top of its weekly profile and what that would then do is that would suggest a move all the way up to its recent high its recent high ethe that is is 43 23 now s and p if we bring over my other charts my white background charts here let's go see what we find we see that at 39 bucks even steven that is a td9 breakdown level so if price can close above that that's your natural area of resistance right now if price can close above that that would be bullish and that would say price goes and at least runs for that all-time high that we took a look at uh what else do we know in this bottom back here on the trading day of july 20th that was a nice td9 count the bottom that's out there price in inside the etf out here s and p this did generate a confirmed rogement to mitigate our top because yesterday was a shooting star candle now this is where you really need to take a look at the underlying instrument because it may not have generated shooting star candle i don't know but even though it does have that topping signal prices above the top of that daily profile above the oscillator and change line and that generates a bullish to neutral signal here so what are we going to go with its bullish to neutral but if price takes out yesterday's high 39 bucks is a level and if price takes out 39 bucks then it's off to higher ground out there on a weekly time frame chart we talked about our prices above the top of that profile level when this topped on a weekly basis it was a td9 count top that's where price is headed to that's i guess it's not the all-time high it's a high from back in may and that is up in the uh 43 23 level so s and p i hope that helps you all with regard to eth ethereum ethe the etf and hopefully it does track pretty well to the actual underlying instrument let's go out to brent in martinez california brent thanks for calling thanks for holding how are you today you there steve i am nice to hear your your voice this early in the morning now brent brent's calling it's five 24 folks that's a committed trader out here and so thanks thanks so much for joining us now you said you usually get up early up early out of bed looking at the markets i should probably be committed steve but yeah i'm yeah i'm up and i got up early my my son and his actually just got married last weekend he's my wife we're down here they live in tallow and it's kind of a mess up there right now it's yes yes a congrats to that and everything yeah thank you but i was uh calling about nat i talked about this you know when it was low just whatever price a week or so ago yes and uh it's made some progress here i just want to get you stopped where we're at and where it might be heading so it did it made us so with regard to the low in in the nordic american takers folks the type of low that it formed out here was a rogment to mindicator bottom and it did that a couple of different days it's on august 17th and it reconfirmed that on august 20th excuse me so it's got a nice bottom out there uh the brent the resistance level brent is going to be two dollars and 68 cents 268 is a td9 breakdown level so if price can close above that then that gives you another change in trend signal and that would suggest they move up to 308 that's the next td9 breakdown level for nordic american tankers now there's also an a to b equal cd pattern is in play sorry let me just get this white background chart out of the way so we can see an a to b equal cd so the b point here took place on the trading day of august 25th and that had volume of 2.2 million shares it was passed with 3.6 million shares so that's confirmed a to b equal cd this is the reason why i suggest to everybody in the a to b equal cd pattern you should learn this pattern for sure but with regard to trading it what you don't want to do is just simply buy or sell the one to one the d point the reason that you don't want to do that is because that's not necessary because only 60 percent of the time roughly is well an a to b equal cd complete the one to one level those aren't really the greatest of odds 60 versus 40 it's almost a coin flip we don't need a coin flip we let the market communicate to you and i and the way that it does that rent it would generate if we do get some type of bearish reversal candle that would then be a sell the d point or a gartley sell pattern we don't have that in play right now but it is something that we have to take a look at so right now what we know is price should go target the 268 level and 278 happens to be the top of its weekly bearish structure profile Brent hold on we're going to break out here we'll come back with Brent in martinus california take a look at nordic american tankers are you looking for a way to consistently add winning trades to your portfolio tom o brian is here to help tom o brian has been successfully trading markets for over 30 years a frequent 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setups including gartleys abc's 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 surging to find and right now we're offering licenses available at only seventy nine dollars a month we are so confident that you're going to love this new charting software that will even give you a 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 we're recording this show today it's out 8 30 in the morning now thanks for listening live we're on the line with brent and martinis california we take a look at nordic american tankers which has made a nice bottom on both the daily and the weekly time frame chart out here so brent let me just point this out to our viewers so if we take a look at the weekly chart as soon as i can get this thing to expand that would be nice doesn't look like my system wants it it's too early for my computer system apparently brent uh this is interesting holy cow what's going on here i think we got the nsa they always like to fit wow that's really weird um okay so maybe i can't show that so i'll i'll try to do this on on the other side so what this did on a weekly basis i believe was it also formed a td9 count bottom so you've got nice uh a nice bottom that is in play out here oh maybe i can pull it over no to pull this over let's try to expand this one more time okay i guess the answer is no wow no idea what's going on there that's a bummer uh so brent what sorry about that what questions do you have so far so it's got nice bottom in place we know there's a resistance level that's just above there's need to be equal cd pattern and there's no reason to jettison the position and the reason why i want to discuss those patterns with you especially they need to be equal cd is because folks that would like to get in on a traded nordic american train tankers out here knowing that it's up at resistance and we have these patterns in play i wouldn't necessarily chase it right now uh wait to see if we get a completed a short-term topping signal and then buy the retracement out there um so so i just wanted to pass that message along to them brent so what additional information maybe can i provide to you no it's great you better appreciate you taking a look at it and oh you know just do a kind of progress and make i didn't notice that a b equal cd pattern and yeah that plays out and then we'll just take it from there but that helps to give the to give me those different levels to be watching perfect so watch those areas and then 278 boy price closes above 278 that is a brand new bearish structure daily profile that formed this week so when and if nordic american tankers closes above that that would be a very bullish message brent out there and everybody else that's watching nordic american tankers hey brent thanks so much for calling have a great holiday weekend and congrats on the marriage of your son as well and we'll talk to you next week all right thank you very much do you do the same and enjoy your weekend absolutely you bet that was brent in martinus california so my other charts i'm not really sure what the heck is going on there folks uh because i'm really struggling and i can't even see my clock now so what i mean by saying that is the guys in production room you're going to need to oh i got my clock back okay good um so let's go on just simply to the general markets out here i don't think there's any other questions uh nothing inside the tiger's den so let's go take a look at what's going on inside the futures market all right now we've got uh well gold has taken a big move to the upside gold's up 20 bucks silver's up 50 cents so i think that's an area where we should go take a look at so let's go take a look at steve's gold charts we'll see if we can get to these are my other white background charts we'll see if this is going to cooperate with us and we'll change panels so let's take a look at uh oh man it's not it's okay here we go so i gigantic move really in gold so let's go take a look at it okay so here's our eight panel gold chart and on the eight panel gold chart so you can see if you look over in the upper right hand corner you take a look at the 30 minute time frame so yesterday was gold was moving lower it formed a td9 count bottom that's why we pay so close attention to these td9 counts and now what price is doing price going to be in bar number seven on a 30 minute time frame but price has taken out that first resistance level 1818 in fact we'll go back and take it's an 1827 which i believe is above the top of its daily profile now the important here let's see if i can expand this out here's a daily chart yeah maybe not so much uh okay so what we don't have in the daily time frame is any kind of a topping signal now the question is could we draw in an a to b equal cd pattern that's what formed the bottom by the way was a by the d point the a to b pattern out here you know i guess i'll draw that in just make a little bit easier for you so here's a to b and then with regard to b to c i'm just going to go ahead just instead of it's going to move this over if i can and so here is that c to d leg and again the confirmation the way that steve does this the confirmation comes by generating a bullish reversal candle and there we got that we got the three river morning stars so now the question is is there some kind of a to b equal cd to the upside this possible so if we were to draw that in this is how i would draw it uh so hector's probably paying attention as he should so the question is do we use this a as our b point so to speak or do i use b i'm going to go ahead and use b as the b point from the a to b equal cd pattern and uh just visually looks better to me to do that and then that would give us a one to one price projection if this is going to form we don't know until the end of the day that gets us back to our most recent highs up in the 1920 area so that's what the daily time frame chart is suggesting to us let's take a look around here see if there's anything else so there is a couple of other things this is so i break down this chart the reason why we have eight panels we've got that we cover the monthly the weekly the daily then we go to the intraday chart so 30 60 120 240 and five hour chart so on the five hour chart so far all this is is just a spike test of a topping pattern you can see a td9 count on the uh through on the five hour time frame chart and that high out there by the way is 1826 50 that's a level that price must close above for the five hour time frame chart to signal to you and i that this move is nothing more than just some kind of emotional move out here i think this is must be the jobs report those are the jobs report that came out at 830 that has moved the markets and the reason why my system had slowed up so much but the five hour chart is very clear with regard to what price needs to do it has not done that just yet the four hour chart says the same thing now this formed a td9 count top a roadsman to indicator signal but again price must close above that high again that high 1826 50 in order to suggest that there is some kind of breakout and move to the upside out there so now let's go back and take a look at my other gold charts out here the black background charts give me a moment to switch over to that set of panels and there when we get to uh gold we'll be able to take a look at this chart so here when we take a look at gold now we can see what did the spike high do so far and where does price really need to close above in order to signal to you and i that gold is in the clear and the area is good that's going to have to clear is going to be the swing point of july 15th and that's at 1836 i use that swing point high because you can see all this descending trend line resistance that price is trading into so yes gold is above the top of its daily profile but right into another level of resistance so it hasn't really proven itself to us not at 837 in the morning if we take it in if price does make a move higher then the real key area that you'd be watching for is 1837 now gold are both a daily and a weekly time frame generated a by the deep one nice big hammer candle out here that's the hammer candle from the week of august the ninth if gold were able to close above 1836 70 that would be a very bullish development out there and then that a to b equal cd pattern that we were looking at in fact you can see the a to b equal cd now you can't really see it out here on a daily time frame i take that back my apology all that does is just really gets us back to those prior highs at 1920 area so what do we know about gold so far gold has not proven itself not just yet 838 but what we can say for sure is a closeup of 1836 70 that says time to move to the upside out there now the interesting thing about gold and we'll take a look at this when we come back from this breakout here is that we take a look at gold and the us dollar index us dollar index right now in the very right hand panel of the chart this has a td nine count bottom that's going to form today at the support of its oldest structure weekly profile the roads with tfnn you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex creditor in the trading markets and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the tigers then are also the first to have their questions answered live on air and can 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prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc 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 welcome back folks so we're talking about gold in the u.s. dollar index what we have on my screen right now are the uh currencies that make up the u.s. dollar index the euro being the largest percentage about 57 percent and if that's in the upper left hand panel and what you'll note here is that this will complete a td9 count pattern today with today's high whatever that high is being the key level to be observing so we know that the u.s. markets are closed on monday but the uh currencies they will be trading out here beginning sunday evening at the 5 p.m. eastern standard time so you're gonna want to watch the euro because if the euro closes above today's high whatever that is that its td9 count top will have failed and if it fails and that would be signaling that the u.s. dollar index would fail the u.s. dollar index does have one level of support to test uh even on a failure and that's its break out of 9168 but if it does fail and price close below that then that's going to signal to you and i the u.s. dollar index is ready to move even lower and then that could put the energy could put the energy that gold needs gold needs to trade higher folks not just in terms of u.s. dollars but all of the major currencies that means the euro the yen and the pound and you'll know that those are the other three currencies that you and i pay attention to with regard to how gold is trading if gold is trading higher in all of these currencies then you've got a rally across the globe if you don't and it's trading lower in terms of euros higher in terms of dollars then you have competing buyers and sellers out there and it's really kind of a neutral type signal so this is really going to be interesting now we don't take any kind of action or anything uh it wouldn't surprise you or i for the euro to top and for the dollar to bottom if they do that where would their price targets be the price targets would clearly be the oscillator and change line so in the case of the euro that's at 117 and change and the u.s. dollar index that's 92 78 so what i'm suggesting that you do is that you pay attention to the euro's close on monday because that will then give you a real signal as to what is likely unfolding here currency wise which may impact the gold silver commodities in general out there okay so that's the u.s. dollar index uh what do we want to go take a look at next out here uh the equity fee well i tell you what we're going to look at as long as we're on this panel here i'll share with you this now this is a this is a typical type of table that subscribers receive in all types of subscribers are trading different things are managing their portfolios differently so and we take a look at this this shows us our cash indices our index ETFs the sectors with inside the s and p 500 i've got the top 10 and dx one holdings maybe that shifted a little bit the top 10 uh doll holdings without microsoft because that happens to be up in the ndx 100 area and then some of the futures contracts now i've got those listed here so that we can take a look at and understand are there any kind of bottoming or topping signals that are present and the reason that the price is not here on the daily time frame is it needs to wait this tool needs to wait for the market to reopen uh out there so uh but here what we have is we've got top or bottoming signals so these are the roge mintum indicator signals we took a look at that with brent when we take a look at nordic american tankers out there and how well those help us to identify tops or bottoms the same thing is with regard to the td9 counts so now you're seeing the top and bottoming signals out here roge mintum look at all of the highlighted now what you're really looking at are the ones that have stars if you've got a star next to it that tells us that we have a valid td9 count pattern out there so as an example the s and p 500 does not have a valid pattern just yet if price uh and i would have to go take a look at the s and p 500 chart to see what it needs to do but no worries because the es mini does so at least one of them has the topping signal so here on a daily basis these highlighted pinkish areas with the stars look at all of the topping signals that we have and then we've got finally the wave counts wave up and wave down in this case here we're looking at the wave ups and we're looking for the capital g's out there so those capital g's we look for wave number seven that's where we would typically see some kind of change in trend signals so all of the market here when we take a look at this chart what is this or the i call it a chart whatever we want to call it a table when we take a look at this table how do we really interpret this well remember we took a look at the uh international indices and it was the shanghai and the nikkei that have topping patterns that are in play out here just to go along the footsie and the dax also have existing topping patterns that are in play so to the extent that the that the markets globally worldwide want to move lower the setup is here do you need to take any action right now you can if you're an aggressive trader based upon all these signals out there but if you're looking for this would be the early stage of a change in trend that would take place so and what i mean what i mean by that is this this is a top of significance with september being the weakest month of the trading year out there ideally then price would move lower into october so do you really have to catch or sell the top tick i would say you don't so what do you do out here well um one of the things that you would do one of the things that i would suggest that you do is take a look at those short term time frames what do you mean stevo well what i mean is and here is our eight panel set of charts for the es mini for the s and p 500 and if you take a look at the air i'll just expand this out so here you're here well first you can see the td nine count bar number nine form yesterday today is going to be the bar after bar number nine this is the es mini so whatever today's high is if price is closing above that uh come tuesday next week it'll tell us that this pattern has been negated that there's no td nine count top not that there can't be some other top that forms but it would not be a td nine count pattern so what you want to watch for the first if this is a top all right and you're a what you're looking for our key levels of support to fail well inside the es mini that first key level of support is being tested as we speak right now so we can see just as gold had spiked up higher we can see the spike inside the es mini that es mini spike well i can't i wasn't watching it so i don't know but i'm assuming that spiked up and then spiked down and it's found support at this td nine breakout level 45 34 75 now this is an extraordinarily wide ranging bar on a 30 minute chart out here and so it's kind of hard to make heads or tails so what do we know we know right now that breakout support inside the es mini is held and if price does not close below 45 34 75 we do not have a change in trend signal or the earliest of change in trend signals on the 30 minute time frame what happens if we do get it closed below 45 34 75 where would price likely run to well yes you're correct we all would take a look at those profile levels those are 45 24 45 30 and 45 33 and the price you get below 45 24 the next breakout area is where price would target that's the 45 18 so when i now i'll i'll i'll shrink this up a bit and we have our other intraday time frames so what you're looking for our key levels of support to be broken closed when i say broken i mean closed below if we get that on the intraday time frame charts that becomes the signal that we're starting to see a change in trend right so think about like this we get the topping signal in the daily if it really is a top then we should see support levels fail on the intraday and the basically from a trading perspective not an intraday trading perspective but from like a swing type trading perspective the shortest period of time that i look at is a 30 minute in order to generate that so when we take look at the es mini right now you can make the call is now the time do we have any kind of a change in trend signal that or that the es mini in fact has formed that td9 top that's going to be of significance and the answer is no we don't have that but if we do get a close in 10 minutes below 45 34 75 then we would have our first indication of that potential what would you then want to see at day's end what you'd want to see is a close below the oscillator and change line for the daily time frame so here's the next level to watch why because a green oscillator and change line tells us we have a rising price oscillator above zero and that is bullish so the level of your watching here come day's end it's about 45 31 the price goes below 45 31 odds favor we've just gotten a change in trend signal g-roads with tf and n we'll be back in just a few more minutes the reality is that navigating financial markets can be risky markets can be chaotic and difficult to understand having the latest market advice can help you turn this chaos into a key for creating winning trades at tf and n we understand that it can be hard to find reliable market news that's why each of our market experts offers their very own market newsletter a must-have tool for every trader out there striving to find an edge in 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