 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good morning folks welcome to the terrific Thursday the April 4th 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 and let's make sure we have an extraordinary one Now the easiest way to do that it's to always remember that life is happening for us not to us That's right when you and I make that one little two-by-four shift Means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We'll go figure out with those bowls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes. I'm here to serve you So feel free to pick up that phone I'd love to hear from you at 877-927-6648 now if you've got a question, but you can't go in We've got your back. You can send me an email send it off to Steve at tfnn.com Inside the subject heading. Please put radio show question Of course, if you're inside our Tigers den well then any in every ping will do So let's go ahead and get this show started on terrific Thursday. Of course. This is Tiger financial news network I'm Steve Rhodes. Welcome to the show right now We got a bit of a sea of green out there only one sector inside the S&P 500 training the downside. That's the health care It's off about six pennies at 143 97 Otherwise, it's a sea of green there just like in the US indices dows up 141 about four tenths six tenths for the S&P 33 eight tenths for the Nasdaq 100 144 the Russell's up 21 That's a 1% move some eyes up 33 about seven tenths one and a quarter percent for the trannies That's 192 point move gold is up 90 cents Silver's up 18 pennies like to recruit is up 23 cents That's a gas down about four pennies 30 Treasury up 11 ticks print out 1804 US dollar index pulling back. It's down below the bottom of daily profile. We'll see where it closes the day We're right now trade out at 103 77 Our leaders in the clubhouse to the upside you've got micro strategy $99 move 6% up spot $51 8% service now 20 19 bucks to an half percent Broadcom up 18 one and three tenths percent all the beauty 16 bucks nearly a 4% move there to the downside Lamb Weston Holdings up 19 bucks 20 percent 18 dollars for Deckers Outdoor about 2% 79% oof Effect or therapeutics obviously got some bad trial date or something going on there Lulu lemon down 9 bucks That's a 2% move in Domino's pizza down 8 bucks 1 and 6 tenths percent to the downside. So how do we begin our day? Let's begin our day by taking a look at really it's Thursday Let's kind of review where we're at today. What's transpired this week and maybe where it is that we're headed to Let's go start by taking a look at our daily and weekly equity future contracts Dailies are up on the top row weekly are on the bottom. So what do we know? We've got roads, but the indicator tops You really got two of them in place right now for the ES many that doesn't make it any more top It just says it up But that we know that there's clear resistance that if that fails and the true failure would be a close above The high for Monday, and that's up at the 53 33 50 level price is likely is targeting the 53 21 area That is its green oscillator and change line prices above Profile support and it is below oscillator and change line resistance. So it's trading with inside that range Well, we do know about this week so far and support is held on the daily time frame There's really three levels of support here. There's the top of the profile Then there's the bullish structured zone 50 189 and 51 67 on the pullback this week What do we know about and I'm just looking at the continuous contract here? What do we know price held support? If we look at coming off of the October lows once we got to the week that ended November 10 We have seen price remain above that green oscillator and change line the entire ride up We've seen a couple different topping patterns We've seen price pull back and test and reject that green oscillator and change line This is the whole reason that I developed this tool to begin with when is a retracement just a retracement back to support And when does it mean something else what would mean something else if price were to close below this level right now? That's printed out at 50 to 25 So at this stage here by the way the ES mini does not well the ES mini will generate a sell the d-point pattern out here If it closes lower than Monday Sundays open out there. So that number to be watching all it has to do Is close below? 53 so it got to 53 14 even Steven or lower Will then generate a sell the d-point pattern for the weekly time frame for the ES mini because that's a key reversal bar The NQ does not need a key reversal bar It already has a TD 9 count top It has a rogment to indicator top that pattern would only get negated on a weekly time frame where they close above 18 687 in a case of the daily time frame it has a rogment to indicator top 18709 is a level that price would need to close above in order to get that we can see that today's rally has run right up into that Resistance of that oscillator and change line. So it's trading below a area of resistance 18 566 or thereabouts and support 18224 we know that that rogment to indicator top has pulled price back and support has held Again the top of the profile how about the weekly in the case of the weekly what support is the support level It's held as the top of its profile price is trading just below. So in the case of the NQ We also have the Continuous contract it has broken through once Twice really the first time it broke that asset and change line was the week of January 5th very next week back above it Remember steve's got a two-bar rule out there because what hit wonders although they're great in Trading sometimes those one hit wonders will get you into nothing more than trouble out there But we can see here just a couple weeks ago back a week that ended March 15th We had a close blow it and then right back above it last week We're above it this week were below but we're still above profile resistance 18 144 so support itself on the daily and the weekly time frame for the NQ in the case of the Dow equity future contract It's trading between resistance oscillator and change on has it made it up there 39 893 and support the top of its daily profile 39 314 the weekly time frame chart will generate a Sell the d-point pattern just like the ES mini That's assuming that we get at least one tick closer than a Sunday's open So the yeah, the the Dow equity future contract needs to close below. Oh, this is the weekly chart Hold on a minute a second So all okay So all that needs to happen in order to generate a sell the d-point pattern for the weekly time frame is a close blow 39 577 39 577 is what you'd be looking for at the end of the day tomorrow if you get that Then you'd have a topping pattern on the weekly a topping pattern on the daily The same would be true for the ES mini if that gives us a key reversal bar and the case of the Russell 2000 price formed a new Profile this week. It's got a roach meant to mitigate our top that formed on Monday price made a pronto move down to support the bottom That profile at 20 81 60 So a key level of sport is held and right now price is taking on the first level of resistance Which is it's also during change on a 21 18 above that it has a sell zone that sell zone is between 21 29 and 21 38 and on a weekly time frame bar number 9 is going to complete this week as long as price closes above The close of bar number 5 that would be 2109 30 we're 21 14 right now so not sure whether we're gonna get a TD 9 count top or not there But if we do then we'd have likely tops on the weekly and tops on the daily time frame charts for the equity future contracts We've got a number of requests that have come in three from yesterday You are a for LB SNN for Muhammad SMC I for David H a panel on Sydney Then we get to BTG for Alton Avgo for David H and GDX for Jane I believe it is we're right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicals sign up for rocket equities and 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 Dot-com TFNN educating investors Many trading newsletters attempt to focus on a narrow set of equities or commodities While this works for some it oftentimes misses many opportunities that possess huge gain potential But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? One simple answer the opening call newsletter Basil Chapman developer of the Chapman wave trading methodology has been trading the markets for longer than most trading influencers have been alive And over that time he has honed his methodology in order to accurately call movements in a wide range of equities From semiconductors to uranium to key indices and so much more Basil is old-school taking the time to educate the trader while also giving his insights into key indices Selective stocks and more Opening call subscribers also receive access to dozens of educational live streams that can be accessed at any time for your edification All first-time subscribers receive a 30-day money-back guarantee So ignore the pop trading influencers and start learning time-tested technical analysis 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 Great 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 TFNN has launched the Tigers then hosted at discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The Tigers then available to all Tigers and Tigris's for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders Just visit the front page of TFNN.com toll-free at 1-877-927-6648 internationally at 727-873-7618 We got gold trading up 90 cents at $22.95. We're gonna go out to Philly and speak with John John Thanks for calling. Thanks for holding. How are you doing today? I'm doing very well, and I Would be remiss if I did not thank you again yesterday I asked the question Crude oil silver gold and copper or any of those Looking at your indicators Approaching tradeable highs and you were pretty thorough and answering that question. So thanks again for that You're welcome kind of as a follow-up to that Steve wanted to ask if you could address this question Specifically related to the comex gold contract the gene contract and that very specific question is this If so gold is made a high thus far 2325 that was last night Little pullback bounce right back up here today The question I've got is this if The June gold futures contract GCM for if it declines and breaks x price What lower price namely y price would that likely signal? So what I'm looking for is I know your work is pretty thorough if gold hits a level Coming off a high in your work it might give us clues that in fact the lower levels are Likely my question is what what are those price parameters, please? Absolutely, okay. Your question was very clear, and I'll be happy to get to that So we're taking a look at the June gold contract out here And I'm first going to focus on the daily time frame now expand this out The reason I'm going to focus on the daily time frame is because it has a topping signal And the topping signal is the TD nine count now We are in bar number eight now on this chart right here. I've got a couple lines I'll get rid of them first first is the a to b equals CD pattern So we have an a to b equals CD pattern that has completed I think you mentioned that or if not John you know that that it we've got she when I say it's completed folks What I mean is it's attained the one-to-one price projection level that doesn't mean it's completed And it's a sell the d-point pattern, but it has attained that level and that would then say to me John That if we were to see a bearish reversal candle then we would have a top a confirmed top the question would be your question would be Where would price pull back to so that's the first thing before I go there? We can see that bar number eight is in place out here So I'm gonna get rid of the a to b equals CD line So we're all just looking at really the arrows out there and the arrows are identifying prior TD nine count pattern So we can see that with regard to gold It's behaving pretty well to this specific pattern folks This is a pattern that's easy to understand just subscribed mastery probability If you do for 28 days, it doesn't cost you think what you're gonna learn You're gonna learn a tool that you'll use for the rest of your life So this says that we should see a top or we could see a top that forms between today and Monday Sunday Monday as a time frame the first place John where I would be looking for support if we get a top It says you should pull back to support since it's the daily time frame chart I will stick with the daily time frame and that says about 22 66 now That's the oscillator and change line that number is gonna change so you got to use that You know give it five or six bucks either way or would have you but price would likely pull back to that If price were to close below that that would then be an indication to you and I that it has lost its momentum Lost momentum where would be the next area of support at the moment the top of its profiles 22 23 So the caveat is that as long as another profile doesn't form then this would be the next price target 22 23 Below that I would be looking at 21 92 and below that I'd be looking at 21 60 And then below that it would be a 20 53 60 So those would be the levels for the daily time frame which at this stage is the only Whether it's daily weekly or monthly That's the only time frame that I actually have a topping pattern for now If the weekly would have formed some type of bearish reversal candle Then we would have a sell the deep point there But the weekly and monthly what they're telling me John is that price wants to move higher But the daily time frame is saying timeout. I may want to pull back further. Does that answer? Question. Yeah, thanks on that Just to interject you have a tool. I think you call it your advanced Doppler and that is at daily chart Are you is that Is that preliminary work? Indicating a change of tabs profile or do you not yet see such a thing? Don't see it I don't see anything. I've got nothing that has formed not even an inkling That it is forming out there, but it can come out of the blue, you know It just it forms when it forms, but I usually and I have those indicators on And and I've got nothing as we speak right now now one element to consider Why there could be a top in place out here and I've started doing this I don't I haven't updated through Wednesday about two o'clock or so But what I'm going to do is I'll pull open a set of charts out here So as you know John, I take a look at instruments and how they're trading and other currencies So knowing that we're potentially near at least a short-term top inside of gold I want to understand what was going on inside of gold priced in euros yen and pound specifically now What I have up on my screen here are the weekly time frame charts and what you will see is that the weekly time frame chart for gold priced in Euros and gold priced in pounds that would be the right-hand side of the charts They will complete TD nine count tops this week So whatever that high is and I know you also do this conversion work And so whatever that high comes out to be as we come into Friday if on Sunday You know at six o'clock we start trading above those levels out there Then it would be kind of suspect, you know, you'd like to see a top form in all of these currencies out there We don't have that now I've done some additional work on that now put this chart up here And this is a chart taking a look at those three current all four currency pairs dollar yen pound and Euro out there and it turns out or so far what I've been able to find out as a pattern is when I get three of those and And so the vertical lines identify TD nine count tops or any other top that I might have out there And if we come back to a gold back in august Of 2020 out there We had TD nine count tops who are forming in terms of dollars this weekly chart that we're looking at folks dollars Pounds and yen out there and that certainly worked. We saw everything move lower When only get two signals for tops for example Back here on december the 12th out there. It really didn't work much All price did was pulled back and tested the oscillator and changed I didn't really give us that kind of a topping signal So right now I only have two of those three but still we've got two of those three I still need to do more work on this because I haven't done the analysis for the daily time frame But I still will fall back to the TD nine count for the for the daily time frame That suggests that gold could be forming a short term top and then to add to that I've got topping signals on the weekly for golden euros and pounds Any questions any further questions? Yeah, that's all very thorough. I I thank you again Just as One thing Yes, and that is Steve when you're doing that uh gold price in currencies around the planet Yes, uh, I I would Propose to you that that it is imperative That you also do gold in chinese yuan Yeah, and and frankly The the only there's only four Frankly that I think are important and that's gold in dollars yuan yen and euros But uh, you you would be imperative just to let you know I'll have that chart for you tomorrow Hey, John, thanks for calling always good to speak to you and we'll look forward to speaking with you again That was John and Philly. We'll be right back Hi folks, this is Tom O'Brien. It's the 22nd anniversary of the gold report. Can you believe it? We've taken 22 trips around the sun together and we have many more to come This year alone the gold report has returned over 50 and I want you to come along for the ride I provide in-depth analysis of the gold market as a whole in addition to providing outlooks on individual mining equities For a limited time, you can save 35 off the monthly price for as long as you subscribe 35% savings will be applied to the current monthly price and it will stay with your subscription forever With gold pushing all-time high as gold equities trading higher and inflation still raging This is a great time to try my newsletter the gold report First time subscribers get a 30 day money back guarantee. 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So why wait tune in live to tiger tv and transform your trading journey Because when you know better you invest better join us and experience the difference today tfnn educating investors This portion of the trader's edge is brought to you by directions daily leveraged and inverse etfs Whether you're a bull or a bear you choose the direction visit direction dot com Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage And actively monitor their portfolio They are not designed to track the underlying index or security for more than a day Before investing carefully consider a fund's investment objective risk charges and expenses contained in the prospectus available at direction dot com Read carefully distributor four side fund services llc Welcome back up folks boy. We've got a number of requests. So we've got to get to those just to try to get through them all lb wrote in yesterday wanted to take a look at what are the next price targets for u r a That etf and it was hitting that price target yesterday and that's up at the 31 42 level That is the td9 count breakdown area for its daily time frame if you were to get too close above 31 42 Then lee that would be telling you that price is going to get back to its highs The highs i'm referring to are the highs from back in february and they're up at the price point of 32 60 So price running to resistance out there You still have a weekly roadsman dominicator top a monthly td9 count top But it's looking promising on monthly because price is trading above its new profile at 30 36 But it's early in the month. So we don't know where it's really going to end out there But your next resistance level is hit at 31 42 I don't have a topping pattern per se That doesn't mean price can't pull back and a pull back area target would be about 29 46 or there about so lee thanks so much for waiting an extra day mohab with the same to you And i know that you wanted to take a look at ticker symbol smci So smci has an a to b equal cd to the downside you can see the a to b and the c to d So this is more than a one-to-one extension out there. It is negated a td9 count bottom What you're waiting for is a bullish reversal can well turns out you got that yesterday You had that bull separation line out there. So you do have a buy the d point pattern You've got overhead resistance. You have a profile that is formed above price That's always dangerous because that tells you about overhead supply It suggests that any kind of rally that we get would only be a counter trend rally Doesn't guarantee that it's only a counter trend rally, but that's a suggestion with the profile Bottom being at 25 11. That's where we'd likely find resistance on a rally out there If I look at the weekly time frame chart, it's trading below A red oscillator and change line that suggests moving back to support mohammed and that support level would be 2367 The monthly time frame is trading below its red oscillator and change line trading into the buy zone of its monthly profile That's between 23 i'd say 22 97 and 20 Around 20 well to exactly what it is. Let me give you the number It is a 24 58 out there So even though you got the signal yesterday, you got a buy signal yesterday We've actually traded below yesterday's low. We're kind of trading at it right now That's really not the type of signal you would see if there's going to be a rally not that it can't But you'd prefer to see a trade them of yesterday's high. It hasn't done that I say it's a suspect buy the d point pattern So I hope that helps you out and you've got those lower price targets out there A david h in panama city wanted to take a look at smci So let's get that up on our screen out here and see where that is headed to SMCI if we take a look at it, what do we got? We got price trying to get back inside its daily profile and if it can do that it needs to close above at day's end 10 26 50 if it can close above 10 26 50 It offers the promise of a rally up to 10 90 It has a roadspin to indicator top. It may be getting ready to form an a to b equal cd pattern down side out there maybe I don't have a The the a the b point have formed and certainly ac point has formed with price rallying up in that oscillator and change line But we haven't seen that move to the south now To possibly suggest that the a to b equal cd pattern is going to sit up a completed td9 count pattern on the weekly Price has pulled back and tested support and it's a wide profile as long as price remains above 9 18 david You shouldn't see it move up to 11 47, but of course at 10 89 We know we have resistance out there and the monthly time frame is simply bullish So it's going to really be about the daily You'd like to see this get back inside its profiles for at least two consecutive sessions out there The longer that it doesn't do that the more it's telling us that it wants to head south So that's what I see when I take a look at SMCI Alton wanted to take a look at ticker symbol Btg his question is buy sell or hold So here's what we know. There's an a to b equal cd pattern Out here. Uh, it looks like uh formed yesterday Let's see what it did from a volume standpoint the volume for the b point was uh marks the seventh There were 9.3 million shares yesterday that was passed with 36 million shares. So you've got an a to b equal cd to the upside. So this is definitely not a sell And it most certainly is a hold Is it a buy? Well, that that becomes, you know, more of a question But i'm going to go with the hold in and not a sell control c control v Let's go see where this a to b equal cd pattern should take us to out there Not much higher than where we're at. So the one to one gets us up to about two dollars and 84 cents I'm going to suggest that it's 293 that where where price is going to run into resistance That's the top of its bullish structured weekly profile. We're above the center. We were above the center last week We're above the prior highs. That's really where price wants to go target is 293 We can see that price was yesterday closed above 18.9 count breakdown level. That was at 278 You'd love to see price closed above 278 today to close above resistance would also suggest we're headed higher As we start moving towards that 285 and higher level What you want to do is watch for a bearish reversal candle If you were to get that that would identify a gartley sell pattern short of that Price should rally further again 293 being a key level of price can close above 293 We're looking at 332 to 342 as a further rally. So elton. Thanks much for the question david h in Panama city I believe uh, let's see wanted to take a look at the avgo The question is can this get to 1438 and the high so far today is 1403 Uh, the high of a prior swing point is 1403 61. So price got up to that prior swing point By the way, this has a roadsman to indicator top It's also testing that swing point high from march 4th that swing point has 3.5 million shares You got up into it testing rejected it back here on the 21st with 7 million shares That said we were going to be back up there. Well, guess what today's the day you're back up there And now you're doing volume of 750 000 shares a little over two hours of trading that equates to what 1.5 2.25 or so and you're going into 7 million shares I'm going to say the answer to that question today is no I have go Will not get up there doesn't look like it will get up there today if that's what you're asking Price is above the top of its weekly Profile at 1332 and it's above its weekly oxidant change line It's telling us it wants to make a move up to that high That's generated that roadsman to indicator top on the weekly time frame and that's up at the level of 1438 That's what you're asking will price get up there. I don't see it happening again today on the daily It's just not giving us that signal, but over time it looks like it will accomplish that task Uh, simply because what we're looking at on the weekly time frame and the monthly time frame both of those Well, the weekly time frame is neutral the monthly time frame chart is bullish out there So I hope that helps you out with regard to that question and as always thank you so much for that request Now we get back from this break. I'll set up the charts here. We're going to take a look at gdx for uh, jane We're going to take a look sbs w for brett. We're going to take a look at by on for jimmy d dks for el Gold for mary joe. She's asking do I know which day it's going to pull back Because she wants to take profits and we take a look at 3 m for willy out there So, um, steve roge with tfn. We'll be back in just a few You spend any time online researching trading techniques on how to begin your trading journey You've no doubt come across many folks who push forex trading as a way to make big money quickly Unfortunately, there are equally as many stories of these so-called forex professionals Just looking to make a quick buck off aspiring traders without actually teaching the ins and outs of the forex market This is what sets teddy kek stacks the tiger forex report off the riffraff Every monday former chicago mercantile exchange member and author teddy kek stat releases his tiger forex report newsletter Where he dives into the complex world of forex and takes time to actually teach you his methods that have made him So successful in the fast-paced and rewarding world of forex trading Furthermore, all subscribers receive access to archived livestreams of teddies where he provides university level education to help you in forex trading All first-time subscribers receive a 30-day money back guarantee. 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You'll find fibonacci 24 7 right under the newsletters tab For traders who crave risk directions daily leveraged and inverse ETFs provide Opportunities to magnify short-term perspectives with up to three times a daily leverage Utilize bull and bear funds from both sides of the trade and trade through rapidly changing markets These are highly leveraged ETFs with daily resetting designed for short-term trading not long-term investing Whether you're a bull or a bear you choose the direction for up-to-date pricing and performance go to direction Dot-com Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor Their portfolio They are not designed to track the underlying index or security for more than a day Before investing carefully consider a funds investment objective risk charges and expenses contained in the prospectus Available at direction dot-com read carefully distributor foresight fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz So steve trying to do something here. I probably should have shouldn't have waited as long as I did I just want to see if this tool can pop. But where did I put that tool? um Ah shoot shoot shoot. Okay. We're gonna forget that idea. All right. Let's do this here It'll maybe pop up into my head. So let's get to the requests out here First one coming in from jane and is asking is the gdx nearing a pullback What I have inside the gdx is I have an a to b equal cd pattern the b point Was on the trading day of march 13th. The volume it was 24 million shares when it was passed It was passed with 27 million shares. You've got to confirm a to b equal cd The one one price projection gets us up towards 33 75 the retracement was less than a point six or eight retracement Usually when you do that an a to b equal cd pattern will overshoot the one to one and do maybe one to 1.272 Are we getting near? Yes, we might be getting near and the only reason we're getting near is maybe because of gold Potentially topping out there, but the gdx. I don't see that pattern, but the two are well correlated On the weekly time frame chart, uh, it's in rally mode No a to b equal cd pattern just simply a straight up mover in bar number five What it wants to do because it's trading above all resistance is target 35 81 That's would be the next resistance. So I said trading above all resistance Um, what i'm referring to it's trading above the top of its profile Which was a bare structured profile and a screen on certain change line monthly chart is also bullish So the daily time frame the only signal is an a to b equal cd pattern It has not gotten up to complete that level I would say jane watch price as it gets up towards that You know 30 and you can figure out the a to b equal cd yourself 30 30 just called about 33 70 or there abouts and if you see a bearish reversal candle Then you know you would have a sell the d-point patterns That's what I see when I take a look at the gdx Brent in uh, martinis california wants to take a look at sbs w Brent is long sbs w and it looks pretty good to me. It looks like your next battle Brent Is going to be at between 5 55 and 5 65. So this has an a to b equal cd pattern That let's draw that in here. We'll draw in the a to b a To b and then i'm just going to try to copy and paste that little bugger and then move that over There we go So you're already past the one to one level although this might not really be an a to b equal cd pattern That could be more than a point seven eight six retracement I don't know but you would know that if it is and I wouldn't really pay attention to it If it's about a point seven eight six retracement Then I would just be I'll look out for a bearish reversal candle If it's beyond that point seven eight six that pattern kind of for me steamy tosses that out But the next price target's upstairs the week the weekly time frame has the top of its profile 555 the daily TD 9 cal breakdown area at 5 65 Now if price is going to get up there on a monthly basis price has to clear that oscillator and change line It hasn't cleared the oscillator and change line for The last time it cleared that was back in february of 2022. So it's been a few years That would say a close above that that being Five dollars and 32 cents would be a real bullish outcome for you Brent So thanks so much for the request and have a terrific thursday jimmy d inside the tiger's den He'd like to take like a tiger so that wasn't it by on I'll get it up here for you in a moment jimmy And his question is is this just a one day sell-off and stevie would have to say Looks like it's going to sell off a little bit more So where are levels of support that is tessie? Well, it's cleared the daily levels of support It did that yesterday now you got two days below it the daily time frame is suggestion to pull back to 2646 That's the TD 9 cal breakout level But before price can get down there the weekly is trela is dealing with potential support areas Areas because there's a brand new profile that formed this week And jimmy, I don't know what it's going to be the close is going to be tomorrow, but if price holds 31 93 That's it's but that's a bottom of its bullish structured weekly profile well You won't get a td9 account top this week. You have bar number nine that's forming But that means price has to close them a bar number five So you need some major rally that takes place tomorrow. So that's probably not likely You're not going to get that type of a topping pattern. Maybe there's a sell the d-point out there It doesn't even look like well, let's I know it into my eyes could Mislead myself. Let's just see if we do have that out here. Give me a moment Well, we do Okay, so you've got to bearish your golfing candle right now So you have to watch so the levels of support here So that's got to sell the d-point pattern right now still watch that 31 93 level tomorrow your price closed below that it's 30 96 And I'd say 30 96 is a real key area because if price closed below that that's what's going to bring your 26 46 level into play Just 26 46 is just a marker right now The other work that has to be done is it's got to get through these resists or the support levels On the weekly time frame And it's only the daily and the weekly that are really providing us with a ton of information out there This will be day number five to the downside out here We've seen six days to the downside most recently So it looks like even got another day from that perspective And then you should end up with some type of at least a counter trend bounce out there that maybe last for a day or two So jimmy, thanks much for that request. I hope that provided you with the information You were looking for electric light orchestra would like to take a look at ticker symbol dks when I take a look at dks This has a confirmed roadsman to indicator top It did that when price gap down on tuesday out here Price is now trading with inside a bowler structure daily profile So yellow you've got support in a zone the zone is between 20504 and 209 51 You've got a do you have it? Let me see here the high of bar Of that is 224 72 the close is 224 86 you do not have a well take that back You're likely going to get a sell the d-point top inside of dks on the weekly time frame So roadsman to indicator top of the daily sell the d-point on the weekly nothing yet on the monthly time frame You need to watch the buy zone out there. That's between 20504 and 209 51 if you close below 205 04 you're likely going to close the gap or at least head back to 193 76 or thereabouts that's that weekly oscillator and change line Will he wanted to take a look at 3m out here? Let's take a look at the 3m church in the case of 3m What do we got? What did you want to know how high will it go? Well 95 66, which is likely the high of the day might be it 95 66 is the top of its daily profile that formed this morning and it got up to a high of 95 67 So right now you do not have any kind of bottoming pattern on the daily time frame You do have a key level of support that held that's its breakout era at 91 57 And so far all you've had is a little bit of a counter trend move up into the top of that profile 95 66 You asked how high will go? That's it Now if price were to close above that I don't have any control over this But if price did close above that then you I would say the answer would be 99 40 The weekly time frame price is also pulled back to a breakout level at the 87 78 area You're consolidating inside the monthly profile. So at this stage here dot until 95 66 gets cleared Would this suggest that it wants to do something else out there? And then lastly we've got mary who wrote in mary joe wrote in and she said Is gold she heard yesterday that gold was nearing to pull back I'm going to assume that your question came in before Z mr. Z john in philly and I were talking about gold And so yeah, we you're asking specifically what day if I was going to guess what's day It's not going to be today out there Because today is only bar number eight with regard to a goldilocks. I don't have time to pull up those charts right now It already closes them The only thing I and you want to take profits and that's cool. I get that do that take your beach ball Longer term longer term. So I don't know where you got in and what you're trying to do there Longer term. I'm coming from the position that gold's headed higher when we come back to this break We're going to take a look at the u.s. Dollar index And what you need to kind of watch there to perhaps assist with that trade steve roads with tfm will be right back Hi folks, this is tom o'brien. It's the 22nd anniversary of the gold report. Can you believe it? 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So We've seen a nice rally inside of the euro that was we saw that coming We saw that coming because of the td nankow bottom that formed on tuesday as price was pulling back to its breakout level at 1.07 area As far as where would price take it to price would take us to the 108 area if we take a look at the weekly time frame chart We've got that weekly oscillator and change sign and we're trading on it right now We're trading just slightly above it But basically we're back to resistance if in fact the dollar is going to start turning up It's going to primarily be because the euro is getting ready to turn down and the euro is up at a significant level Now if price closes above this weekly oscillator and change line that number to be exact right now is 1.08 Six we can take a look at this again tomorrow out there Then that would suggest that the euro is going to rally further with a price objective of 1.094 That would say the u.s. Dollar index is going to pull back further Now let's go switch our screens out here and the screen we're going to switch to is going to show us the current correlation Between gold and the u.s. Dollar. We're taking a look at a daily time frame I've got this over a five day period. So that's an average over five day period When bars are at the bottom it tells about an inverse relationship when they're up top It tells us about a directional correlation dollar higher gold higher dollar lower gold lower That would be the directional correlation We can see that since the middle of march we're starting to get more bars above zeros more of a directional correlation But longer term. I don't know if we've totally broken out of that of the concept of Of the dollar still may be impacting the direction of gold was really what I wanted to say So now we take like what's the dollar doing dollar doesn't have a topping pattern out here I do not have a top In place, but I didn't I don't need a top I've got a new profile that has formed and that new profile has supported 103.85 now I won't get confirmation on this profile until tomorrow, but a price closed above 103.85 today Key level of support will hold and that could say that the dollar is getting ready to resume its rally And if it does that that adds the idea Mary joe that gold might pull back further But longer term. I want to be really clear on this longer term Gold is headed higher Folks stay tuned for all the great programming. Thanks for joining me on terrific thursday Please have a great day and I'll look forward to seeing you on fabulous friday. Take care. Be safe out there