 The following is a presentation of TFNN Trade what you see with Larry Pezzavento Call now toll-free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Part of one vows of Chapman sitting in for the hour of Larry Pezzavento now Larry is improving tremendously I believe and it looks like he'll be back on Monday There's a little time switch Steve Rhodes is going to do his time that was usually at now at 11 o'clock to noon eastern time and Larry's gonna take Steve's hour at 1 o'clock So that's just a time change, but not a place change because Larry will be back on Monday I believe so let me do a couple of things here based on Chevrolet methodology and of course I do have a webinar coming up on Wednesday 9 o'clock till 2 and Had I remembered that the Fed is gonna do something at 2 o'clock I might have made a little later they go a little longer, but we will be prepared for whatever happens at 2 o'clock via the Fed So as it stands right now, let me just do a couple of things just to kick us off 53 of the down 32,759 in the patents that I always look at One of the most important is that if you can identify the lowest low bar and there are techniques to do that You want to count each successively higher bar? It can go a b c d even e f and g never an h But at that fourth highest bar peak D Remember this is not a to b equal c to d there's got nothing to do with this This is done during the time where practice was very famously talking about Elliot wave and I saw the numbers there and I thought you know, I can't do that. I don't mix it up I have nothing to do with them. I've been using this forever. And yeah, this guy's getting all this a claim I better just do something different. So I decided to call it peak a peak peak peak c and peak D And I'm not sure why I'm hearing that ringing out there. So when you get to a Starting point then you want to see an upgrade very quickly from a buy signal to a buy mode And that implies that it shouldn't just go peak a B It should go see and even the D your target is at least a peak D now I'm going to mention this right now off right off the top because In the SNP no matter how I or anybody else counseled using the Chapman way methodology the top that was made at 48 18 point 62 in January Was peak B And that says no matter how much consolidation we take how much time we take Probably as long as we don't break 3200 or 3000 I'm gonna have to reassess everything It still wouldn't be technically a failure. It has to break 21 91 not one point 86 to be a complete failure in the Chapman way methodology You could start to get a peak a and a B and a C even the D below that previous speaker for the 18 point 62 But you've got to get to a D. So that says looking out If we can survive All these months these seven eight months depends on which index eight months or even nine months of the consolidation that we've seen up until now We've used up more time than price and the normal circumstances and a major sell you get a fifty fifty one fifty two percent Correction in the S&P. That's kind of traditional Historically for the big big downturns, but You can use up time and I think so far we've used up a tremendous amount of time And I was talking about sector rotation and that's been the big thing about this whole market as long as there are sectors That can do well while others are taking it taking a breather and then they take a breather when the others come back again That essentially can you move your sideways? Maybe slightly lower lows and slightly lower highs, but basically sideways That's what we're in right now So that means that a lot of bad news is could still come out and we could still have these two three thousand point declines in the Dow, but you keep trying to build a base and so far the base is being In the S&P at thirty six thirty six in the Dow. It's been a twenty nine Twenty nine where did it go? Twenty nine six six hundred fifty three twenty nine thousand six fifty three in the QQQ That base has been at two hundred and sixty nine having gone from four eight to two six thousand I mean thirty something percent. That's a big move down But we've started a great leg a in the week in the monthly chart for the very first time in all the indices And that's kind of good. It means that this is at least even if you treat it as a countertrend rally All right, so let me just go back to show you some some patterns here if you're looking at the Q's Here's a little doji candle we're making right now the day's young We're not even two hours into the session anything can happen. It's holding pretty well The stochastic said ninety two percent none of these techniques is what Larry uses you could even consider that there's in some in some degree there's been a a gauntlet Yeah, you could call that a gauntlet and that in fact we're expanding to the upside and we're getting close to the top of that But it happens to match so let me show you the reason why I'm getting cautious a shorter term I'm not getting so much bearish, but cautious. There's a big difference cautious means the upside is limited Why because the left side high in the answer in the QQQ of the 4th of May at 330.29 Happens to correspond within a few points of the 200 period expansion moving average of 327 now because I'm talking a foreign language If you were listening to Larry show because Larry users sometimes become to the very same conclusions But in different ways so the techniques that I'm using you just throw these things on your chart You don't have to use them until you have to you could be doing something like this Which is the naked chart and the naked chart says look QQQ? I've done this the other day I was showing the pattern set. There's a rectangle formation a Wide but along that rectangle formation is making a call it the gravy cup pattern where you come down in a cup Formation, but you're really lopsided because in this case you more on the left than on the right And now you're making high highs and higher lows and the objective is to get you to the rectangle high in this case of 314.56 That was in June that was June the 2nd And you had that big tumble down to mid June to the 268 level and yeah You are 321 and what's really important about this is what I'll be teaching is how do you use these tools? Look, he has the 9 period moving average Exponential went over the 14 period moving average gave nice signals and a really strong signal right there to say hey This is going to this is now positive and it should be moving up That's why you can draw the pattern that says Stance that move up in the consolidation up than a consolidation up and then a consolidation now the Consolidation is getting shorter and shorter. This was just two bars and the third bar was higher no more rule of 136 one consolidation bar is great three it takes a little more time It's still very good when it gets to six you almost have to restart a buy signal or a sell signal To get to generate the the rocket ship propeller move to break out of the left side high or left side low And this case is getting shorter and tells me we started to get more recognition of this bull phase And now you mean it means you're also getting a little bit overboard. So this is the nine over the 14 This is the stochastic because strong that is at 92 percent This is the same chart with the mag D because strong that is this is the same chart with the nine over the 14 the mag D very strong the Stochastic flat and love flattered ninety two percent and the on balance volume pulling back a little bit And that just says to me there's still internal strength in the cues and this is the whole combination with everything together and That shows you price movement. I'll be back in a moment Basil Chapman We'll be looking at the questions came in. I'm gonna be doing what was the Nvidia and Adobe as soon as I return Time of booming inflation. We are purchasing powers eroded. There's no better place to protect your hard-earned money than ain't gold This the golds flagship asset is the Monk Todd Gold project in the northern territory of Australia This is Australia's largest undeveloped gold project. 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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 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 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 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 Sign up 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 Toll free at 1-877-927-6648 internationally at 727-873-7618 Hi folks. So the pattern that I discussed just now is the is the large rectangle remember you can get narrow rectangles There was one last night in the e-mini. Let me see if I can find it here Uh, I haven't even rotated there. Yeah, look at this. Look at this. There's a little bit wider But it's not a pretty narrow one when you think about it from the uh, three o'clock four o'clock high yesterday of 41 68 was it Uh, 41 70 round number high You went into a rectangle formation with a 41 48 low and look at this. Look how long this rectangle Remained in place. Then what I did is I drew My left side right side price time match to a particular candle And I said that somewhere. Let me just move this away so you can see what I did These patterns invariably the longer you get the narrow rectangle Look the greater the chance that you're going to form some kind of a low and still get a peak a bc and eventually a d Or an e above the previous high Then you've got to be careful And it usually forms a kind of a bowl formation more like a like a like a bowl. Yeah, like a like a Not a cup but a bowl stretch down And then you've got to be careful because it comes back down in this long rectangle Whoa, whoa, whoa give that take that there it is If it comes back in the rectangle and takes out halfway of the rectangle and starts to trade under it, which it did Be careful because it's going to test the low and when it comes back from being over the rectangle high There's a real good chance that it's come back and go under the rectangle low So that was the 10 minute e mini chart and lo and behold what happened. It did just that Didn't grab that correctly. There it is And we've been trading where to To the 200 period moving average, which has become support for the last 30 40 minutes. Isn't that interesting So I'll be back to that because what I wanted to talk about was this rectangle formation So the question came in what about adobe cloud digital commerce? They did everything 699.44 was the high last year and a little bit of a tumble 338 more than a 50 decline. But look what happened Yeah, we go rectangle formation Right there because you're going back. There's a chance that you can go back to the top There's the lopsided cup, which is the gravy cup. There it is right there I actually my eye just hurts when I do that I need to just I move it a little bit because I can't stand to see that lopsided gravy cup And then it's moving up So I've got it in leg f right now It could be an alternate count f slash be a brand new bi-signal But I'm just going to keep the notation getting Alphabetically to g at this particular point because the mag d is so strong And look the nine is so strong over the 14 period moving amps And remember the moving average convergence divergence That green line Basically is outlining the price of what you're following. That's why I've been every once in a while The price goes higher and yet the mag d keeps going lower. It confuses people only use the mag d That's the reason why I say be prepared use other techniques as well So in this particular technique the rule of thumb is That if you start after your flagpole move to the upside, this is not quite because it started or we went even lower down It starts to make higher highs and higher lows. You can get a move to a peak d or maybe a little higher Just under right on or just above the previous high and that was the higher 440 1.90 on the second of june 441.90 That was second of june And what have we done? We've gone all the way to today's high in leg f at 427 85 Still underneath that previous high, but still with good technicals So the question the question was adobe adobe. What was the question? Oh, I said I do in video first. I just I saw somewhere. Oh and d Okay, there's a lot to do. So in the meantime Where where did adobe fit in? Did I just jump the ga oops miss that a on? Yeah, that's what your obligation is to Ah, you got your only obligation the chat wave is not to miss a peak even if it's by one penny You see that there my eye picks it up. I've done so many hundreds of thousands of these I could see that that was a penny difference or maybe more, but just it wasn't different So that's peak a so this is a leg f but look at the weekly chart It's peak a peak c and it's still within this rectangle Struggling to take out the high that was made Around on the 10th and the third of june the weekly chart the high of 440 119 440 round number So it's still moving higher the technicals are improving that and that's what I meant when I said The reason why I'm looking at this and saying there's a rotation through the different sectors and for my subscribers You know that I mentioned one this morning that I haven't spoken about in ages not only that we went along a particular a particular index Or an ETF We haven't been along this ETF in Ages as this price has come down down down But finally, I think there's a bit and that is a better risk reward. So we have started a position So within that context, we're looking at adobe which was a fantastic leader going to the top That was the top right now. I wrote it in the daily. I'm sure Yep, there it is at 699.9 54 Not 44 54 Chat with two bar reversal on the 22nd of november and a peak e made a cup formation If you look at the left side right side Match vertical match you'll see that the technicals were way weaker in that next rebound And then it just plunged off to that. So this is the first really I would say Not the first decent dancer had decent had decent but even made a peak db4 had 44 44 41.90 Back in the beginning of june before it plunged to the round number 338. Well, I love looking at round numbers So this says it's doing very nicely. It's very methodical It's not great But it is doing well And this could be the start of a bigger move if over the more intermediate term the 40 408 to 400 support area isn't taken out So you have a september 145 call I like that because this is going to need time to generate a second nuanced trigger For a move of 40 to 60 points And to do that I suspect it needs just a little more timing. Maybe it's next week late next week Maybe it needs to pull back a little bit. Maybe just suddenly finds buyers right now But 44190 is the resistance if at any point in the and the reason why I like this september is I would give a time I wouldn't want to say oh this coming friday or whatever it is August third week of monthly options the third week of I would I'd like the time so I would even have thought october would be safer But I'm quite satisfied that september the third week that takes you to the 15th of september Two months no a month and A week that's five weeks from now. That's about the time that I'd be looking at So one of the reasons is if at any point it starts to trade at 442 uh, no 446 point 80 or 447 point 30 in that area The magnet of the four 457 level of the 200 period moving average kicks in and that would be your target So I like the fact that it's working its way for the first time Closer and closer to the 200 period moving average, but it's not there yet. So yes, I like I like the fact that you're looking at invidia invidia is um semiconductor area to be split number of times trading at 188 We'll be back in a minute. We're talking about the 200 period moving average right here, which is at 203 I'll be back bowser trappin sitting in for the hour of larry positive enter 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 metal 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 the gold report with coverage of gold silver bonds the xiu 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. 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I'll do it but look The objective in the job wave is to get to at least a d in a buy mode And always watching the 200 period moving average Well, lo and behold it went from 10 40 It went from about 41 3 5 35 in the emini To where a peak f right touched three times out of four the 200 period moving average Made a cup formation had a much worse technical picture on the right side Pull back sharply try to do it again technical picture was still weak And now we're making a cup formation. So how about that, huh? So let's get back to our story here So let me just go through nvidia The question for the option was on qualcomm So let me just get back here. So nvidia is trading in leg c Also with a cup formation and I could also once again do the left side right side price time match right there To there Change color. You don't have to have all this paraphernalia. You could just you could just count the number of bars. It's easy enough But I have it. So I use it. Why not? Okay, and that says left side right side price time match to the left side high of peak d in the Nvidia high that was made on the second of june at 196 10 196 19 plunges down to 140 now It's back up at 188 and leg c technicals are pretty good and that says it should try to get to the one Yeah, I should get to the 196 194 to 196 area But it might take time in other words It might pull back at c and then go to d and then take a little more time to make a cup formation for another attempt at any point in august if nvidia is trading at 198 to 100 and Yeah, I would say at 190 anywhere in the 198th the 203.26 or whatever it is at that time The 200 period moving average will become a magnet the further it pulls away from here under 183 The harder it's going to get to take to get it's not quite as strong as the others now Let's go to qualcom qualcom made a peak c This 200 period moving average is such a magnet this orange line that it Couldn't go further. It had to come back and retest now It's got four green candles trying its best to turn the 146 area into support. Most importantly I'm looking at the weekly chart and I I like qualcom much earlier We didn't actually have it, but I said I like qualcom. It was in the 1 I think 33 area You see this channel This down channel It's broken out of it, but it keeps coming back and that makes 141 the 200 period moving average I think that my eye says that this is going to struggle a little bit more than the others we've been looking at So I wouldn't be surprised if it takes a little while there might be a sudden pop to do break into leg d In the daily chart at 156 67 to start leg d one penny above that high It's going to take a little time. So this is the one that I'm I'm looking at Uh, I don't know what the question is. Ah, I have september calls. Oh september 145 calls Yeah, this is the one. So I don't know what you paid for them Um, it's trading at 149.06 right now Ooh September this is now this is yeah here again. I think using time is good But I don't want to see a dreaded h and I don't want to see in august 145 31 the support taken out because that says oh, it's going to really struggle to get back into the 150s So, uh, this is a little different Um in qualcom. I'm thinking It's using up so much time To it's almost like a brand new buy mode. You could do that underneath the previous one And the magnate is good, but not great. So the casting's not good at 57. No, this is a little bit. I'd be careful. In fact If it was me, I if I could get my even break even or maybe take a fractional loss On at least a little bit of that so I can build up a cash position Um, then I'm going to say to you that's that's fine Um, but if it moves at any state it has to it needs time It needs speed it cannot take time. It needs speed 150 150 if it can break about 150 150 That's going to be your best sign to say good now We can maybe tackle the high that was made at 150 4.80 on the 27th I go one step at a time my eye says that I can actually Draw in some kind of a rectangle here and say I wouldn't be surprised if it's stuck in this rectangle Just a little bit longer. So I I'm sorry now. I got a change of mind Because in qualcomm it's going to need It could still work out fine. I just don't know what the support is. That's all So in the end we might be looking at it and say on september the 14th or 15th Say, oh, why did I ever get out of this? This is at 163 But at this particular point during my homework it just says it's a bit of a struggle here It hasn't used the benefit of the market being up so nicely to its advantage as it should and therefore struggle Next question is what did I forget? I think I've done them all Yeah, 145 core q and rx Is that how did that sneak in the q and rx? Whoa Uh q and rx was trading it in the fours yesterday and then it hit just by mistake. I guess it is 20 26 27 and now it's today's action is between 22 And 15. All right. I this is not for our regular listeners. This is too tough as a trade. I that's fine apple apple coming up So this is the thing about apple We wanted to buy it at above 147 It kind of messed us around up and down up and down didn't get it and I said, oh, let's skip it And then what I do is started this fantastic move about 147 in the middle of july So here it is at 164 alternate count g slash c The magnate is very strong the 9s way above the 14 the 9s at 160 support to 157 is the 14 period moving average you know I'd said this about apple some time ago That are all the stocks that we're looking at if you look at that monthly chart This is one of the the best monthly charts that we we've got 182 down to 129 60 points in a high tech stock that should have been done way way more So I think apple's in play as a go to for the the big for the big funds I I just don't see why they wouldn't ignore this. I like it. What was the question? Uh, if you have time cover apple, I came in late this morning Okay, uh, just someone remind me. I've forgotten it. Was there anything that I missed here in looking at the different Uh, the different stocks. Okay. In the meantime Let me show you something very interesting here In my chapter we've automated support and resistance levels. No, that wasn't it It's this one here in my automated support and resistance levels apple Has resistance because it broke all the previous resistance in the daily has 171 and it's trading at 164 The weekly had 161 and it's broken above that 120 minute had 165.44 and it broke above it But now it's a little bit below it and the monthly chart has 165 169 and 179 And 121 is key support. This is saying to me That apple is showing Very good relative strength relative strength meaning as against the s and p or maybe you could choose Any of the any of the stocks look at the way it's used the 200 period moving average as a momentary digestive phase And that was a chapter wave instant restart right there to actually move up to this new high recovery high Now I can talk about the chapter wave falling exformation and the inside track Reap column zone coming up as soon as I return basal chairman tight conditions are gosh We didn't do any of the weeks or anything like a week as we're going out We just trying to form a base as the soybeans trying to form a base And corn broke and now it's on the 200 has been your trusted source of analysis for bonds metals stocks commodities and options for years And we are happy to announce that we are bringing that same caliber of analysis for the forex market Teddy kextat has 30 plus years of experience in forex trading commodity risk management forex hedging volatility And so much more teddy releases his weekly tiger forex report every monday morning with elite coverage of all major currency pairs Including the dxy euro dollar pound dollar ozzie dollar dollar yen dollars swiss franc and so much more Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted for the month of july inaugural members the tiger forex report will receive 25 percent off the monthly subscription for as long as they're subscribed Just use promo code teddy 25 to lock in the added savings This offer is good only for the month of july so do not miss your opportunity to save on the tiger forex report tfnn educating investors The technology around us is changing every day with so much happening. It can seem impossible to keep up with all the information david whites 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 in 50 cents Sign up for david 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 etfs 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 nysc american and tsx under the symbol vgz I just want to mention that that atom and that was mentioned earlier at atom era inc Uses them. Thank you pat. Yes, it's you. I forgot all about a mere silicon technology. It's just amazing Feet that that they pull off So, yes, I do like that that that's had a real nice bounce and there was goes to piki's question So, let me go back to two things that I was looking at is apple so apple I'm right there. Oh g there it goes apple is trading It's at 164.80 It's got a g slash c There are a couple of things going on with apple that I wanted to just show you on a shorter term See this cup formation And you see that that was the target on the left side Oh I thought I'd done that with apple I'll do it right now. So you can see that if you go to the plumb line right there plumb line Right there There and you move it to the right This is going to be too far away. It's just missing it Now what I normally do is I'm kind of conservative I go to the left side and I look at the right and I look at the price I look at the h pattern here and I say, okay, so a lot of work to make up So if I just snapped a key right here and went new new as I say it was a trend line And you don't have all this the rectangle you could that's fine Look, I do that my eye says it's going to miss what it missed by three sessions and then it hit it But if I use this you see this I already drawn in the left side right Sorry the chat wave inside wedge target Repelid line and I'm just extending it up. Look it hits it today Exactly, that's a technique that you can develop and I'll be discussing in my in my webinar on Wednesday week It's coming Wednesday So it's fulfilled a whole chunk of things doesn't mean to say you could pull back and they make a d Yes, what it does say is that the stochastic at 89 percent and flat is really good if Stochastic starts to slip to 83 and then 78 this is going to pull back and one 160 to 157 area will become the support level But I like the way that apple is moving just very Quietly it's doing its own thing Not much tremendous strength if you look at the volume volume keeps coming in and does help it even with the gaps It helps it But what's really important is that the on balance volume is a tad overboard the blue line I treat on balance volume with a completely different way than I do volume. I've used on balance volume since I Studied granville back in the late 1970s. I think it was I was in the seven. Yeah, mid to late 70s So and I used to have to hand notate all these on balance volume adding the on an update adding all the Adding the price of the running total and if it was a down they subtracting and looking at these one 13.5 million or whatever it was unbelievable. I love the fact that we've automated everything. That's really good So talking about automated automation. What we are looking at is that apple is Look at these candles just one red candle from the law of 129 Back on the 16th of june every week and every week's been a higher high with a leg a you're getting close to look There's an a and then it pulls back you're getting close just in time alone for some kind of a pullback in apple So yes, it could go a little bit higher I would prefer to see apple consolidate between it's 165 Between 160 and 157 to give an assessment to say is it ready for the next big move? And will that move break the chapwave inside track repellent zone? And start to trade on a weekly basis two out of three weeks. I'd love to see in the 173 area Sometime in august. We'll be looking at that But the technicals are really improving in them in the weekly chart Not so much in the monthly chart the price is improving in the monthly and the nine is still way above the 14 That's a big positive. So and Nancy I I don't if you have any position in apple right now, but I am going to say to you I know that you I've seen that you've traded it really well before I like it very much as a core position even here at 165 If you haven't any apple and you really want think apples the company This is the premier in the whole tech Um And the residual monthly payment. This is the area that you want to be they're getting everywhere from services online Software everything they they're doing plus plus the consumer area So I like it but be prepared that it could be a little choppy So maybe start at 165 if you aren't in it, but you'd like to have some But basically it's the area closer to 161 to 157 That would be the starter position for me if you haven't got any right now So that I want to do that now. Let me show you something very interesting wheat dust wheat Oh, I did whenever I hit the wrong key something else goes on. Let's see where this takes me to Okay wheat didn't make the cup formation, but it's making something even more interesting You see what I love to draw the the trend lines. I've been doing that ever since I charted an engineering paper hand charted So it's it's just fun for me. That's why I took to trade station all these years It used to be super charts then they switched over to trade station. It's not quite the same company anymore So they have a different focus, but look at this. There's a chapter wave inside track propellant zone For the first time wheat Is starting to show with the magti improving stochastic higher than it was on balance volume is not good at all But it's starting to show some resiliency So at 784 and a quarter if wheat by monday afternoon tuesday morning Doesn't have to close there, but if it can hit 798 the 14 period moving average push above 781 or higher and then close any day that it does that above 787 I would say that's that's now going to be a big improvement in the technicals So this is where I would be starting to look at wheat It made a pd with a dreaded h pattern beautiful h pattern right there It went one to one to the downside. It's done all the things we're looking for It was a g stash c in the monthly chart wheat continuous contract Um, but in the meantime, I'm just looking for at least a bounce and then you can start to think maybe We're getting a cup formation. There's a little obtuse here looking at uh soybeans Soybeans was acting way better than the others the other day at a sharp pullback trading at 1404 It isn't a buy signal. That's not a buy mode yet It'll go to a buy mode if I I can see the stochastic at 54 moved to about 73 as the price goes to 1440 but if it takes out 13 Oh if it takes out 1355 Then that 1330 200 period moving average becomes a magnet This is a bit shaky. But look at the weekly chart. It's really just being in a huge consolidation in the in the weekly chart just between Uh, the 15 36 area and let's call it the 1300. Uh, yeah, it's called 1300 So it's in there in the middle. It can keep trapping for a little bit longer looking at corn corn The 200 period moving average has been a magnet It won't let it get away on the upside or the downside Therefore, the next move is at 699. No 600. Sorry The next move that can take it above this candle right here the candle of the first of august with a high of 621 and a half These are continuous contracts if it can do that it means that this little Chapter wave inverted roman candle right here and not exactly but it's close to roman candle It means that at 60 623 at any point in the next week and a half Once it takes that out, it'll be a quick run to 638 to 640 But watch 576 it close on the 576 and you've got yourself a dreaded age pattern. I'll be back Vista gold owns and operates the largest undeveloped gold project in australia the mount todd gold project Vista gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista gold has all major permits approved and has retained c i b c capital market assistance in evaluating alternatives And in completing in a creative transaction vista gold trades on the nyse american and tsx under the ticker symbol vgz Vista 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? 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She said, uh, thank you bowser. I trade options heavily day trading mostly. Thank you So what I did is I thought okay. Wow, this is perfect because I need to show you That this in all time frames. It doesn't matter what it is the chapter weight is the waveform that never sleeps So what did I do? I drew this unfortunately it was happening while I was drawing it But I drew in the cup formation. I showed the left side. I put the up arrow It goes to peak a peak b and then I drew afterwards. I drew the chat wave inside wedge target repellent line And look what happened it went to peak c and it went to d and now it's in leg d Uh 165 45 and that's 44 So this is now leg e and where did it go to the height that we targeted was the previous peak e at 1101 this morning eastern time at 165.49 And it's trading right now at one 165.44 Um in leg e Uh, did it make yeah leg e and what's really important is where did it stop? Where does it stop for four minutes already? It didn't do that before after 200 period exponential moving average Look at the beautiful left side. Look at this plumb line. Remember I talk about the plumb line right there Did you get the exact number of bars? 1234567897112 our 34507892 our 222212 our 6492929 32 and we've got 32 to this peak d right here at exactly the minute Isn't that nice? Look at that beautiful the cup formation that I talk about all the time So that was live trading just wanted to show you that it can be done And uh, don't forget go to front page of tfnn and check out my um my webinar coming up or if I can ever find it because I went for out there it is On wednesday all day webinar august the 10th wednesday And uh nine o'clock to 2 p.m eastern time and it's going to go through all these different patterns in all the different time frames And it repeats over and over here's your peak d going to a peak e and it's starting to pull back a little bit Hugging the 200 period moving average magnet. I'm going to be talking about magnets Meantime I'm talking about nothing else other than I'll be back tomorrow I have a wonderful rest of the day great program and coming up here Stay tuned and check out my opening call my daddy news editor as well as my webinar coming up Thank you for being here. Have a great rest of the day