 The Traders Edge with Steve Rhodes. At 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the November 15th, the Fantastic Friday edition of today's Traders 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. Let's make sure we have an extraordinary one. Let's have an extraordinary week and an extraordinary life. And the easiest way to do that is to always remember that life is happening for us. Not to us. That's right. We now make that one little two by four shift. We're going to go check on the circumstance of these markets. We're going to go figure out what those bulls and bears, what those buyers. There ain't no sellers. I'm just kidding you. But with the buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that. During the next 60 minutes, I'm here to talk to you about what's going on in the next 30 minutes. If you can't dial in at 877-927-6648, if you can't dial in, we've got you covered there. You can go ahead and send me an email. It's Steve at tfnn.com. If you'd be kind enough to put radio show question in the subject heading, that would be great. And of course, inside our Tiger's Den will take any and every ping. Very quiet. I don't know if anybody on the line. No question about the engagement hearings out there, but I'm not consumed with it. Instead, let's be consumed with these markets out here. So let's go ahead and get this show started. If I didn't mention it, you've got all indices in the green out here leading the charge. It's the semis. They're up a little over 1% trade out at 1747. Lead the charge dollar wise to the upside. It's Google. That's 18 points. Intuitive to the upside. It's the upside. It rhymes with Garo. We haven't heard from our man Garo in a long time. Um if we take a look what's moving to the downside, it is Rietta pharmaceuticals off 8 bucks about 4% globe ant is down 770 at 7% and booking holdings is down. You know, it'd probably be good to make sure that I share my screen with you get rid of that ugly mug that was on the screen. Let's start with the short term. What's going on short term out here? So I'm going to pull over my little market analyzer tool. This market analyzer tool is taking a look at the various equity futures contracts. I've also got gold, silver, natural gas and treasury bonds out here. Now when I say short term, if you kind of go from the very right, let's read from right to left. The time frame is going to be 30 minutes. You've got 120. Then you've got your one hour 60 and in the 30 minute time frame. Now the candle signals that I'm just looking to the market condition is in those other four columns to the left of those. But here we're just looking for road momentum indicator. Topping patterns and the ones that are yet not yellow but pink. Um but if you just take a look at the S and P 500 that is represented by take a look at the ES mini and we look at a 30 minute time frame. We've got a roads momentum indicator topping signal in the 30 minute on the 60 minute on the 120 minute and on the five hour time frame. They're just signals right now. Nothing has been confirmed. But what that means is that you've got the market that is stretching. You don't need me to tell you that you're going to have to get the right amount of energy and when it does that, at least for those specific time frames. Um it is a it's a problem out there. Now if you take a look at the larger time frame, for example, let me pull this over here. Same tool, but this is only looking at the daily, weekly and the monthly and you'll see on the weekly and the monthly we've got some topping signals out there as well. So let's take a look at that. Use this information. I'm not sitting here calling the top at all, and we'll go into those reasons. We'll take a look at it. But here we take a look at the 30 minute time frame chart here for the ES mini. What we can see is we can see the price has been moving higher doing a less route of energy. Now in order for this to help us identify a top, we need to see some type of bearish reversal candle and we got that in order for this to help us identify the top of the road momentum indicator top for a 30 minute time frame. The next thing we need to see is we need to see levels of support fail and that at this stage as of 111 the afternoon that has not happened for 30 minute time frame. So where are those levels? Well, you have one at 31 12. 31 12 is known as TV's green line. But then just below that at 31 11 and then just below that at 30 minute time frame. And then just below that at 30 minute that price must close below on the ES mini on a 30 minute bar to then suggest that price would move all the way back to 3103 as long as this profile is the one that remains in effect. So we have right now is we have a we've got a road momentum indicator top on a 30 minute basis, but no levels of support having been affected. So we have a 30 minute time frame. We have a 40% to mean anything out there. I was just using a metaphor, so to speak. If we take a look at the one hour time frame chart, we do see that prices moving higher doing less relative energy. The last candle that completed out here on the 60 minute time frame coming in one o'clock was a doji candle. Now the interesting thing about a doji candle is they tend to move back and consider that resistance, so to speak. But again here you need to see a bullish bearish engulfing candle that would occur by 2 PM should be too tough. But the real thing that would be tough may be tough or not is price also needs to close below support. The first level of support here on a 60 minute time frame is 31 11. If that doesn't happen price can continue moving higher doing it after two hour time frame. We can see this thing has been stretching for well since November the fourth out there it's now November the 15th, but a couple of these patterns I think. Another haven't even had to refresh out here, so this is yet a longer term time frame with that stretching pattern. Now we can see we can see bearish we can see confirmations of some of these tops out here. You'll see they have those bearish patterns. We can see bearish we can see bearish and had one earlier this morning, but price pulled back. It was late last night actually and a test in Stevie's green line as your level of support. That's why that understanding your oscillator and change line is just simply so important, and especially with regard to the close of the session. So 30 minutes, 60 minute 20 minutes to 120 minute time frame. We did mention the five hour time frame chart and the five hour time frame chart also doing the same. But again, none of these have confirmed that topping signal and that is because price has only come back to levels of support out here. But if we do see some bearish reversal candles, this is what the market is telling us. It's saying it's it's it doesn't have the same. It doesn't have the required energy, but it doesn't have the required energy. I'm going to sum it up like this. You've got warning signals that have been shot across the ball, but we must see evidence and that evidence begins with the bearish reversal candle and encloses below Stevie's green line. 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Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge on the Tiger's Den website. You can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com now toll free at 1-877-927-6648 internationally at 727-873-7618 The ticker symbol, the charts that we have up on my screen right now is a Aurora Cannabis Inc. ACB is the ticker symbol Max writes in, M.M. writes in and he says could you look at the Aurora Cannabis for a bottom, bottom fishing trade out here, he's hoping for a dead cat bounce in the cannabis stocks out there. Hope is not a good technical term out there. Hope would seem to imply that maybe you're in it at this stage but whether you are or you aren't here's all that we know right now just in taking a look at profiles. Prices below a bullish structured daily profile, that took place yesterday, that's not good by the way just because the candle is a bullish reversal candle just so you know, that just tells us where price opened and closed from a weekly perspective, prices below the bottom of that profile and from a monthly perspective and I know you're looking for some type of bounce this would be about we'll switch over to my other charts but this is about the only place that we could suggest that you look at that or consider that and that's at the 267 level now the low so far this week was 272 at the bottom of the monthly profile but let me come over and take a look at the monthly profile using Stevie's other tools out here and here what we can see is that when Aurora cannabis top that did it with the Rhodes momentum indicator top, there's our diagonal line there's our bearish reversal candle clearly there's an A to B equal CD to the downside out here if we take a look at that pattern just to give you an idea max where that might be headed to you've got your one to one level 7 but at a buck 60 that is where price actually broke out on a monthly basis this is going to be or appears to be bar number five on the monthly chart of a TD set up nine count this could be if the nine count shows a bottom signal here this could be something that doesn't take place for another three to four months and it's November that's with the monthly time frame chart so the monthly time frame chart says okay if you're going to take the trade out you can do that but if you are go ahead and take it you can take it now and you close that trade out as soon as price closed below two dollars and sixty seven cents out there because that then would suggest the lower price that we just looked at now let's look at the weekly time frame chart the weekly time frame chart this is not good this says at a minimum price should head back into the two twenty nine area where it had broken up this breakout takes November the third the reason why I say it's not good couple of reasons number one it's trading below Stevie's red line out here that's at four oh two of course that would be a heck of a nice move if it could even get up there but what it's also done it's trading below the TD set up nine count pattern and so max this says to me why don't you just hold off until about two dollars and twenty nine cents out there that would be unless we see some type of pattern on a daily time frame chart for Aurora cannabis what are we going to see we're going to see the prices moving lower doing less relative energy again you need to see some type of bullish reversal candle today is not it it was almost a test of Stevie's red line at three twenty two out there so I don't I don't think this is ready for prime time now today may be bar number five on the daily basis of a TD set up nine count pattern out here but I think the pot stocks because we looked at several yesterday as well max I think the pot stocks I try to come up with something cute but I can't really come up with something cute I think I think the chart patterns are telling us that now is not the now is not the time to step into weed it's just a just don't see the patterns there but again specifically with the ACB the only thing that you've got the only thing that you're back is up against the wall so to speak is at two dollars and sixty seven cents and that's a type of aggressive trade that you want to take then you know then then then go for it that's not one that I would recommend at this stage I'd rather you wait to see some type of bottoming signal and it just it just isn't there and I don't know the reason why I can't tell you the reason why and at some point time they probably will put in a nice bottom it's just not now so stay away from you know and it's two dollars and ninety five cents I mean if you really want to take a trade here then do it as a do it as an unexpired option it's two ninety five take whatever percentage it is of your working capital maybe it's one percent you know so let's just say it's a on ten thousand dollars one percent is a hundred bucks take a hundred dollars and just simply divide it by two dollars ninety six cents and that's how many shares you buy and you stick them in your drawer if for some reason you think there's some other bottom that we're not taking a look at out there and then you don't have to worry because then it becomes a long-term trade but as a our investment really but as a trade is concerned I just don't see the bottom so I hope that that helps you out Max and best of luck with that set P writes in and wants to take a look at ticker symbol ETSY I believe that is a arts and crafts kind of a place or so I believe that because well I don't use Etsy but doesn't matter if I'm right or wrong and so what set P could you please take a look at Etsy and suggest an entry price to buy a few shares so oh that's terrible that's okay for some reason my other charts went haywire but I do have a backup plan and we're going to go ahead and use it so here's what we know right now price is potentially bounced up to resistance it certainly which resistance here in a daily time frame is the top of that daily profile at $42.87 it's a bearish structure out there and so if price did close above $42.87 it's got some potential promise but right now it's just a little counter trend rally that has occurred until we go over my other charts see if there's any kind of bottoming signal there and if there isn't then in prices well below it's weekly profiles out there let's expand this chart out here don't look at this green line out at the $39 area that was an old profile so and this has got an A to B equal CD to the downside we take a look at the monthly time frame out here the A point I'm using is March the 4th the B point that I would use is September the 2nd this is a weekly time frame and then a couple of week rally into September 23rd the 1 to 1 the A to B equal CD pattern takes us down to $35.89 now the B point on this weekly basis was $47.70 there was $12.4 million shares and it was passed with $37 million shares yeah you know we're going to say here Sat just take a look at this your suggestion did I give you an entry price for a few shares what I'm going to share with you is the weekly says this is targeting the $35.89 maybe $28.92 but what we would want to be seeing there is a bullish reversal candle on a weekly time frame that's not what we have here so Etsy has blown away a weekly swing point usually not that easy to do and that is telling you to stay away now let me pull over my other charts out here these is I'm upgrading to or Ninja Trader 8 versus 7 and the reason I'm doing that is because it will take advantage of just the computing power that I will have and so what I've done here you see me on Ninja Trader 8 where I go ahead and I have a manual tool to figure out wave counts I'm pitching that so to speak and trying to automate this where I can just simply put in a chart and it automatically populates with the wave counts out here so still working on that piece of it but what I'm also looking for some kind of rose momentum indicator tool out here and I don't see that now I do see wave number seven out here that would be from my third time frame right now I'm adding a couple I won't go into the details but I don't see it as as a reason for you to get into Etsy right now I would just stay put see roads with TFNN we'll be right back to what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months. Timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. 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TFNN is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleys, ABCs butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets or stocks just beginning to form the trading patterns that many investors spend days, weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're 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 this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of TFNN.com welcome back folks so we're going to go take a look at the ticker symbol here this is for James right who's this J I think so but in any event J we'll call him JJ at here can we take a look at ticker symbol UGI and the question is what's going on with it today let's go take a look at it first I don't know if I'll be able to tell you with regard to what's going on with it today other than from a technical standpoint I assume that's what you're asking about so what's transpired to this is UGI Corp out here and we're looking at the daily time frame and on the daily time frame you've got a brand new profile that is formed so resistance for yet I don't know if you're in this trade or not but resistance for he's going to be 4404 support is going to be the weekly price trading below the monthly profile so what we need to see determined is whether or not there's some kind of valid bottoming pattern out here there's no bullish reversal can on that daily time frame chart but let's start on the daily see what we see out here I do see a wave number seven that's letter G out here so that could be a bottoming signal price going to need to close above resistance and resistance in this case as I said earlier 4404 but 4451 is Stevie's red line here so it could be a countertrend rally up to that level now today is I take today is a little gap to the upside so there's your bullish reversal candle and certainly there's an A to B equal CD to the downside out here that's on UGI but you know let's take a look at the weekly let's understand what's happening above us and on two different time frame so let's look at the weekly and on the weekly basis so what UGI did was it came all the way back to where it had broken out the breakout level was 4278 granted it pushed through that during the week but it's really come back to a breakout area out here this is on a weekly time frame chart for this so 4278 you're trading at 432 you'd close it out if there was a close below 4278 let me look at the monthly time frame see what's going on here so the monthly time frame you know kind of says not so fast so if this did not generate a wave number 7 bottom on the daily time frame and if pulling back to the weekly level of support it's breakout level doesn't hold then price would head down to 33 33 out here but right now it's got some potential James it's got potential but it's risky potential out here because where's my cursor this would be great if my cursor showed up and there we go and the reason I say that is because of price still trading well below key levels of support in that 4404 area so UGI it's got potential based upon the daily and the weekly time frame and I could see you entertaining a trade there look your average true range is over the last 10 days is a buck 12 so make sure you stop if you're going to take that trade is a buck 12 times 1.618 that becomes your stop less your entry point and go from there. Hey let's go out to Martinez California and speak with Brent Brent thanks for calling thanks for holding how are you today and there you go there you are Steve yeah how are you today I'm doing okay you know I went to the doctors yesterday just normal check up and just draw some blood and so forth and and I looked at me and I said you know your age Steve oh he said you really need to take this pneumonia shot and the shingles shot and then when I said you know I had shingles maybe about 15 20 years ago then he said you definitely need it so I said yeah go ahead I'll go ahead and do it I know there's lots of vaccination issues or what have you but I'm like that's a you know you recommended it I should take it man I feel like I've got the flu you know just from from taking those shots which I and then I talked to a neighbor of mine her and her husband did the same thing a couple weeks ago and they said yeah they were out with flu like symptoms for about a day day and a half so anyways you asked how I was that was too much information for you sorry about that no that's all good stuff it's funny I think I've only had one time that my wife's best friend growing up from when she was a child is very high up in one of the local hospitals here yeah and so three years ago she recommended we did the flu shot I did that and that's the only time I've ever done it because I've seen it do okay without it yes and I actually got I think they're basically giving you a strain of it and then to build up your immunity but after that I'll pass I'll just I'll take my chances and so far so good and yeah well the shingles preventative you know sure so shingles I get it yeah shingles which I've had before and and it's one it's a very painful experience especially dependent upon where you get it and and it was the only time when I when I did have it in the last for a while where and I was still traveling I had my own business that I was running and I still had to travel to meet clients and everything but it was the only time where on the airline I went ahead and boarded because I did need extra time because it was just simply so so painful and so he said you know lucky you know you really got to take this at this stage of the game so I said okay go ahead and do it and but anyway let's talk about Gulfport Energy Corp out here and tell us what you're doing and how I can help you my specific question is I sold at that last high up there but I didn't know it today I was just wondering about that that candle and put in today and I know I think it just recently did that bullish crossover on the zero line so I was wondering if it was going to go down and testing that or some kind of has you know market profile level and it looks like it might on the daily I have there that was my question yeah so so you know you've seen a you've seen a pullback and the pullback was it to the center of the box so no pattern or anything like that but just a just a normal pullback to the center of its profile at 283 we know at the center of a box we have both buyers and sellers we're looking to see where where that center line is in proximity to the top or the bottom because if it's closer to the bottom then we know that there's a group of buyers there here it's pretty much equally distributed for the most part but price right now is trading above the top of that profile at 308 interestingly enough the center of the weekly profile Brent was 281 the low of the week is 282 and but prices trading below the top of that profile so I don't necessarily know what to make of it at this stage and price of trading in between profiles on the monthly timeframe so as we pull open the chart I would feel so you know it's really not too bad so when I take a look at this setup out here here's what we can see we can see that this generated a beautiful bottoming pattern back here it actually confirmed the pattern on September 5th it was a three river morning star pattern confirming the roads momentum indicator signal looks like one of my timeframes out here also have wave number 7 that it makes a nice run I don't know what stopped it up at those highs on a daily basis I don't have a a pattern so to speak but it pulls back and it pulls back and it retests that bullish area and it's a slightly higher bottom out there and then the looks like you know the action that you got in on and then you sold it here back on November the 6th as it was really approaching prior resistance area but it still made a higher high so now we've got it's second higher high off of that roads momentum indicator bottom and now price pulls back to a level of support that we could call it 283 and 281 the daily and the weekly center of its box out here so are you considering taking a long trade right now I just wanted to get your thoughts on it I can stay on the line that would be great that would be great if you would we're talking with Brent in Martinez, California and we're looking at Gulfport energy folks I'd like to hear from you too as well 877-927-6648 Seabroads with TF in it we'll be right back tax free zones where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a 4-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal 4-year CD rate of 3.1% would give you income of 1550 per year or 6200 over the 4-year period would give you $50,000 investment in the target first mortgage program would give you 3,500 per year or 14,000 over the 4 years what should you prefer 6200 or 14,000 of interest on your investment if you'd like more information about the target first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative, up-to-date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks, bonds, metals, commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course L-A-B-U or L-A-B-D Directions daily S-M-P biotech three times bull and bear ETFs visit Direction Investments.com slash biotech today an investor should consider the investment objectives risks, charges and expenses of the Direction Chairs carefully before investing the prospectus and summary prospectus contain this and other information about Direction Chairs to obtain a prospectus or summary prospectus please contact Direction Chairs at 0767523 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 to market information at ticker symbol GPOR that is Gulfport Energy we've got Brent on the line from California and so you know Brent ideally this would have found support on the 14th as price was pulling back and and found support at the at Stevie's Green Line the oscillator and change line now the mere fact that price closed below that just tells us that it's searching for the next support level and you know with that profile being the center of the box at 283 that certainly qualifies as one of those support levels and if it closes today above 308 it's got promise of course if it closes back above Stevie's Green Line at 322 you know likely what we'll see here is another higher high out here just because it's got a nice solid bottom from September the 4th that's what the daily chart had the weekly chart what we can see out here is really just kind of sideways move over the last couple of months out there so that's not really being completely helpful to us and the monthly chart you know I do see a 7th wave move potential out here but I like what I see it's not a confirmation what are you inclined to do here based upon that information I'm just looking at excuse me the one that has me a little leery of some of these in this area there's a lot of them having problems I mean a lot of them even going there's that I think that person had called you about that Carbohydrate I mean they're planning to go bankrupt there's just some problems with that I think they've just gotten themselves over leveraged with a lot of this debt even with the price of oil not even being kind of almost in the mid range they've got themselves in a little bit of a pinch so that's the one thing that makes me a little leery of I've already done okay with it and I sometimes just walk away and plan something else I'm just kind of watching it at all to be honest what's interesting about this equity as an example so there was a gap a gap up on November 4th with 7.6 million shares and then the prior day had 7 million shares and then yesterday's move lower was 2.2 and today you're at 3.6 so volume is pulling back into a breakout area with lighter volume as well as price close above the top of the daily profile and the fact that we're seeing higher lows and higher highs out here are what I think is intriguing about this equity now again we looked at that weekly chart you know we could see a lot of sideways action out here but I can see where somebody might consider taking a long trade in this based upon the data I've seen worse that for sure I'm going to have some potential yeah would you mind looking at Mylan I've always had one question about it if it were to close where it is right now on the weekly it could be a little better as far as it could be a little hammer candle on MYL Mylan yeah so if we take a look at Mylan probably not a hammer candle on the weekly basis Brent because it just looks to me like the body of the candle is it's too large of a body of a head on that candle and it almost looks like the wick is not twice the size of that body or if it is it's really close but then the body itself is a little bit too high but I guess more concerning on Mylan out here this week is that it's still found resistance at the bottom of its weekly profile and the bottom of its weekly profile was 1781 and the high this week is 1780 out there that doesn't mean that price won't bounce up to the top of the daily at 1823 but you had mentioned the weekly as maybe a signal out here and it's not a we don't have a bullish reversal candle on the weekly timeframe here's the weekly timeframe as well you know the positive is that price is found support at its oscillator and change line on a weekly basis that's not necessarily good enough to take the trade but it does look like to me that price will bounce up to 1823 and that's the top of the daily profile but it does from there I don't know but it looks like there's a pretty good chance that that will unfold and that's because it's trading above 1758 which is Stevie's red line on the daily timeframe does that help you out? No it does absolutely thank you very much Steve have a great weekend I'm sure I'll talk to you soon You do the same good to hear from you thanks so much for calling our next question folks comes in from William Bill writes in and he says I'm in TTD that is the trade desk let's go ahead and punch that symbol in here and let me get it on my other charts as well TTD let's finish reading the question from the 190s this is trading at 231 so kudos to you Bill nice job there what do you think this could run to new all-time highs as a question mark so let's take a look at the trade desk again TTD we know that it's trading above the top of its daily and weekly profile so just simply from a profile standpoint that would suggest that this could move up to the top of its monthly and that's at 259.32 no that's not going to get you new all-time high this is a bullish structured monthly profile out here this week's close is nice with a close above 222.87 and so it does suggest to you and I that it should be trying to make a run for the top of that monthly profile now let's take a look at this equity using my other sets of tools out here let's come back to the daily time frame and the daily time frame I don't see anything out here in the daily frame time frame to suggest otherwise let me make a change here again on this chart I think I need to make one change here give me a second to find it and bar close there we go it's just with these new tools just want to make sure I've got so the daily time frame chart Bill says price could be making a run for 252.46 that is the previous breakdown area now this week the beauty of this is it broke above its breakdown area of 214.49 and what it suggests to me is a change in trend out here so we can see how this forms its high does the roads momentum indicator top we've got wave number 7 letter G when it makes it slow it does with the roads does with the TD9 count as well as wave number 7 letter G at the bottom out here and then this week it takes out a resistance level to tell us there's a change in trend so 252.46 is that level it was 259.32 for the monthly level so so far everything looks pretty good pretty copacetic whatever that means 265.65 is the number on the weekly chart for its target to the upside and in essence I think we've covered the monthly level so Bill this looks good you're looking for some upside I think in that 259 area is the place that you should be focused on and looking at so best of luck with that trade and kudos to you so far so I don't see any other questions that have come in and we're about to go to a breakout here and then the two minute to wrap so what can we do in the next few seconds out here take a look at gold gold yesterday I have been warning a be careful because gold may the counter trend rallying gold may be over with this making an A to B equal seeding to the downside taking price down into the 1412 maybe 1348 layer area red line that held yesterday price is still trading below that area right now so now is a extreme time of caution inside of Goldilocks because what it doesn't have is some kind of bottoming pattern for its daily time frame that might not happen till 1424 1412 1397 1348 Steve Rhodes with TFNM we'll be right back Basil Chapman has just announced a live 90 minute webinar and will be conducting for subscribers to his daily trading newsletter the opening call which will be taking place Tuesday November 19th from five till 6.30pm eastern time titled a comprehensive review of the Chapman wave techniques and market outlook ahead for 2020 this is a great time to sign up for a 30 day free trial to the opening call while gaining access to Basil's live subscriber event taking place later this month with some stock picks up from 14 to 30% this year alone Basil will review many of the Chapman wave techniques that helped in their successful analysis as well as providing the sectors and stocks that he thinks will be of importance heading into 2020 for all the 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trades that are recommended within the gold market. 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This will be a new all-time high if it closes at this area here but it looks great. If you take a look at the TAS market profiles you're above the daily, the weekly and the monthly out here. If I pull over my other charts let's just start with the daily and the daily time frame. Price was moving higher doing less relative energy and it closed above that level. That level by the way is the November 17th high and that price was $13.2374 or $13.28. Boy that's a beautiful thing. This would suggest that it wants higher price. We can see the buy the buy point on this was as price pulled back to its breakout area of $11.63 on October the third out there. The weekly this is going to be the second week in a row. Satish where price is above $12.8927 the importance of that was at $12.8927 was the breakdown area. I like to see two bars above or below support or resistance to just confirm the move. This will be week number five of a potential TD set up nine count pattern so this could say that you've got weeks to go if that's the pattern that unfolds here so the weekly looks pretty strong looks very strong and the monthly price is moving higher doing less route of energy not an issue unless we were to see some type of bearish reversal candle. So that looks pretty good for you. Lastly John in the Tigers Den I know you're trading natural gas you're trading the the 2020 contract out here UNG the holding inside it is the December 2019 contract and so I'm just going to use this those that is for those folks that may be long or short natural gas out here and all that's transpired so far has been a countertrend move right up and today was the test was the test of Stevie's green line at 2.708 so a good reason to be cautious out there if price were to close above that level. That would be that would be at least short term bullish out here. Hey folks we're being here all week long always great to be with you have a terrific weekend and I look forward to seeing you on magical marvelous Monday stay tuned. Our favorite polar bear David whites up next time will Brian to take it on home from 3 to 4 and tune in Monday at 1 o'clock again.