 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All 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 November 8th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Stevie Perseverance-Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. Now the easiest way to do that is to always remember that life is happening for us. Not to us. That's right, when you and I make that one little two-by-four shift, means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I, we're going to go check out the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I do want you to know I'm absolutely grateful for your presence here. The more important than that, and that's this. During this next 53 minutes, I am here to serve you. So feel free to pick up that phone. You can dial on it at 877-927-6648. Now if you've got a question but you can't call in, you can always send me an email. Send that out to Steve at TFNN.com. And inside the subject, please put radio show question. Of course, if you're inside our Tigers demo, then any and every ping will do. So let's go ahead and get this show started on wonderful Wednesday before this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now we've got a bit of a mixed bag out there. Now the mix is really only coming as far as the indices, only coming from the transports are 42 points in the sectors inside the S&P 500. You've got the XLK trading up 40 cents. The XLF just slightly green. The industrial sector up as well. So is the building materials sector and the real estate. So a truly mixed bag when we take a look at the markets out there. Now, dollar wise, leading the charge the upside. You've got alpha metallurgical resources up 16 bucks. 8% Celsius holding up 9 bucks. 5% take to interactive 6% nearly 9 bucks. Service now 8 bucks extra storage space is up 7%. That is a $7 and 67 cent move. Now the shakers, you've got to inspire medical systems. Not very inspirational of 17% down 27. Buccarini's establishment labs down 15 bucks or 45% that's even worse. Stairest PLC of 6% or 14, 13 bucks, MicroStrategy down about 11 or 2.5% Biogen B-I-B down 4%. That's a $10 move so we got some movers and we've got some shakers. But let's begin the day by what? Let's go take a look at, what we're going to do. Way to call. They came in late yesterday afternoon. It was Mike in Agra Falls And he was talking about the spot follow till next. I'm going to switch over because as you know, we're all anticipating some type of top some type of short-term top Some type of some type of top out here. So what was interesting really about his question Is I'll go back and we're gonna pull up that chart. So give me a moment here. We're gonna change screens We're gonna go back to that then we'll take a look at, you know, some other Chart patterns or what's going on inside the equity futures things like that But first what we're gonna do is we're gonna take a look at the spot file 10x Why are we doing that one of the things I had mentioned to him was that it looked like price wanted to target now Well, I'm just gonna actually take a look at the daily time frame chart not interested right now in the weekly monthly I'm just gonna pull this back. So I mentioned yesterday I still believe this to be the case as far as the two price target areas to the downside The first one's gonna be that lower Bollinger band. I don't have that on this chart We have that on our nine panel chart and that number just you want to mark it down as 1432 So that's one price target The secondary price target is where price and spot ball 10x broke out from a courtesy of its TD nine count pattern That's at 1357. So that's the range that we're looking at for the spot ball 10x But more important than that today is going to be bar number seven of a TD nine count So this Suggest that we could see we could see a TD nine count bottom and that would identify a bottom inside the spot ball 10x When I say a bottom as an example, let's go back and we're just looking at the bottom signals right now Not the top signals here. We have a TD nine count bottom It formed well actually it completed it didn't complete really till September 6 formed on September 5th But it was bar number 8 that identified that top now the key here like with any type of bottom pattern I don't care What is your training it's understand where price is trading relationship that oscillator and change line And if that oscillator and change line is red and price gets up there and test and rejects that that tells you that the sellers are truly The ones that are still in control So even though we had a bottom price got right up that red oscillator and change on and a work list way folks It doesn't matter what what instrument we're looking at here It doesn't even matter what time frame we're looking at it was all agnostic to us We still trade based upon these tools at least we do between 11 and 12 in the 11 in the morning and 12 in the afternoon so but that did Identify at least a short-term bottom. Let's go back a little bit further The next one the next one takes place here on the trading day of June 9th. What do we get? We get a little gap to the upside it did close above that red oscillator and change line You know Stevie's rule to closes above resistance or to close the blows support before we get a real signal out there And certainly on that next day which was June 13th price got back below that red oscillator and change line out there But still it identified a short-term bottom. Let's go take a look at the next one out here The next one that forms out here forms on the trading day of March 31st What does price do price actually bounces up to that red oscillator and change line and gives it up now? I mean it's back up to where we're at right now because this is important and trying to understand Where the if if this forms a bottom I can't guarantee you that it will but it certainly is worth exploring That's why I'm exploring it with you But you could see or you should see a bounce up to that red oscillator and change line now That's quite far away from where we're at right now 1724 so if this is the I pattern that's going to identify when the volatility is going to start rising and then price inside the S&P would start falling it looks like we've got a couple of days before that takes place But it does look like it would be enough of a move just based upon the distance between where prices trading right now in a Spot-volta mix and that red oscillator and change line. Let's go back a little bit further out here Let me try to go back a little bit further. Why is this thing delaying? I don't want to miss anything So now where's the next one so the next one here this work is really great So here we get a TD 9 count pattern it completes on October 27th And immediately fails the very next session when you get a TD 9 count pattern that fails tells you about strong Moment to move to the downside the next one doesn't actually form out here So we didn't get a confirmed TD 9 count on this one when I say this when I'm referring back to the November 4th type time frame Out there. Let's keep going back further Out here. So here's one that we can take a look at there's a TD 9 count. No, this one didn't form either This one did and this is the one that formed on June the 7th And that took price first it took it right up to the oscillator and change line That was red at the time on June the 9th and the very next session were back above it And then there was a big huge gap to the upside So my thinking is at this stage here as we try to identify some type of at least short-term top So let's pay attention to the next couple of days That's about Bell today's and see if we get a TD 9 count bottom. So Mike in an agri-fall. Thanks for making that call And I know I know you want to trade this as some big explosive move to the upside out there that piece of it I can't but it does look like enough of a move Because price would get up to that red oscillator and change sign that it would be worth at least your trade so to speak now Let's go take a look at the daily and the weekly equity futures while we've got just a few seconds here It looks like the yes minute. That's upper left. It's gonna go target that 44 23 area The NQ is trading above its TD 9 count breakdown resistance area its next level of resistance So is its swing point that swing point is out at the 15 468 area the Dow It's next key level of resistance is its swing point as well 33 405 the Russell 2000 in a world of its own but that's because if you take a look at that weekly chart in the bottom right what it price do after Rallying it was a nice rally last week right into what a red Oscillator a change line Steve Rhodes with TFN we get back to this break Let's take a look at some of the requests that have come in and I'd love to hear from you as well eight seven seven nine two seven six six four Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out Teddy keg stats Tiger 4x report Teddy kegs that breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence 4x markets tremendously When you sign up for the Tiger 4x report you also gain instant access to Teddy's 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the Tiger 4x report for all the details and to start your 30-day Tiger 4x report subscription today? Visit the front page of TFNN comm TFNN educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide It's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at TFNN comm 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 and stock prices get the opening call newsletter by Basil Chapman in your inbox Every day first-time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN comm educating investors 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 comm and try mastering probability 30 days risk-free today TFNN educating investors toll free at 1-877-927-6648 Internationally at 727-873-7618 Welcome back folks Let's get rocking a roll on the request that have come in so far the first one the request was I believe this came in yesterday I think it was Joe that had sent in the request wanted to take a look at nugget now We're gonna take a look at nugget but really Joe the better signals you can trade nugget But the better signals are gonna come from take a look at the gdx Which are the charts that which is the set of charts that I've got up on my screen next We'll still pull over the nugget charts for you now in the case of the gdx We've got a TD 9 count top pattern that formed on October 18th That set up the high and that high by the way that resistance level is up at 30 oh seven If price able to close above 30 oh seven then you're gonna see a significant move to the upside likewise the downside It was set up by a TD 9 count pattern as well that formed on November 1st It's that low that's key for you 2761 now the TD 9 count top of the TD 9 count bottom what is set up as a consolidation between those levels But it's really also set up a consolidation with inside its daily profile And that's that the bottom of support is at 2774 and resistance is up at 2981 now today We have for yesterday. We had price test and reject the swing point from November 1st it tested the high of that swing point which is 2833 that swing point at 29.7 million shares yesterday's volume 42 million shares when you test a swing point with volume even if you reject it Odds favor that that swing point is gonna get tested again. Well, guess what? It's being tested as we speak right now But so far it has not been rejected and a price closes inside that swing point again That would be below 2833 volume or not if it does have volume again. That was 29 million shares so far today. This has done 7 million shares So the volume is similar don't know what it will look like at days end But if it does close in side that swing point with similar volume mods favorites gonna go test that lower Certainly at least the bottom of its daily profile. Your specific question was direction for the next couple of days out there So you've got that direction in the weekly chart here in the gdx consolidation with inside a profile below red oscillator and change line 884 versus 74 is its support level for its task market profile and consolidation with inside the monthly Time frame as well. Now, let's go take a look at the nugget charts see what they're signaling to us If there's anything out here, it's different still the TD nines prices trading into that swing point that swing point being November 1st out there I swing point had volume of 3.7 million shares yesterday was tested with 3.6 million shares So it's lighter volume. So one who would have looked at the nugget chart and said hey That was a test of rejection of a swing point on lighter volume. You'd use Tom's expression if you can't bust them down You're gonna bust them up. That's not accurate. So what I want you to do here really not I didn't know that you know, I didn't set this up or anything I didn't know what we were going to see out here So use the gdx because that volume metrics was much more important Which would bet it brought you with a better piece of signal information than the nugget is ever going to but it's level of Support 2820 is the bottom of its profile and its swing point that TD 9 count bottom is down to 2775 out there But really pay attention to the gdx that will give you the better signals for what act whatever action it is You're gonna take inside of the nugt The next request that came in is from a Michael P and Michael want to take a look at Draftkings out here So Draftkings made a new high today that high forms bar number seven of a TD 9 count This says Michael that may be beginning tomorrow. So Thursday through next Monday. You could see a TD 9 count top Let's take a look at it. Let's explore that again Let's say on Friday if you will if we look at the weekly time frame chart, it's very bullish It's very bullish because price closed above the top of its weekly profile last week Intestine rejected that top this week so far and so that looks pretty strong now There is a roadsman to indicator signal that's been triggered. Does that matter? No It tells you about a stretch mark and it tells you that in the Liars poker game so far This is lying now what I mean by that It doesn't have the strength it doesn't have the muscle it can continue to rise and negate this pattern All that this means is just be careful Just watch for a bearish reversal candle to form if one forms on the weekly time frame chart then boom Voila, you've got your topping signal. I'm not it all suggesting that that's what's going to happen However, if we look at the monthly chart and again, we're only into the early stage of the month This is going to be a TD 9 count top that forms this month period end of story inside of draft king So go down in the progression go from the monthly chart continued and right now it's bullish So there's no reason for it to not continue to not continue to rally But based upon having that daily TD 9 count bottom pattern our top pattern that could form by Monday of next week Knowing that on the monthly you're going to definitely form a a TD 9 count top It's really up to the weekly to generate that overall signal that draft kings has made some type of significant top out there We don't have that in store for us right now today Michael So I hope that that analysis helped you out the next request came in from david in Panama city and david wants to take a look at Broadcom AVGO is a ticker symbol and his question is will broad come get up to the 9 25 91 level So yesterday was a good move to suggest that that is a possibility Why because price closed above its TD 9 count breakdown level 8 95 63 Is where it should have found some decent resistance did it it did not And so price is now trading above that level if you're to ask me where is the next resistance level Turns out it's at the top of that swing point and which is also the top of its profile the swing point being from the day of October 13 the price level be 9 25 91 So the daily chart says yes, it's got that potential to get up there now You've got a call that I believe expires on friday. Is that the if that's the case? Do I see this getting up there by friday? The answer there is no Why would you say no stevo? Well right now in the weekly timeframe chart Price and this has a roadsman to indicator top, which has a consolidation with inside its daily profile You need to see this close above that greenhouse that are in changeline even on a daily basis To give you that signal that price wants to make that next move higher. That's at 9 0 3 22 Or 9 0 3 88 Forget about what it says on my screen right now um If it can close don't forget about the oscillator change So but if it can close above that then maybe it will go ahead and start heading towards that level But it's wednesday. We'll do that by friday I don't know now the weekly monthly chart looks pretty good. It's got a TD 9 count top It's got a roadsman to indicator top if a price found supported that green oscillator and changeline its signal David is neutral. So we're neutral on that monthly We are consolidating and neutralish sort of speak on the weekly the daily looks pretty good It's that weekly level of resistance now quickly if we take a look at it not what I'm doing that quick We got an hour No, we got a minute left before the break we take a look at the 30 minute timeframe chart What we don't have is a Topping signal although i'm hesitating because i want to see these counts here We do have wave number seven top. So we that's a real top out there Wave number seven price trading with inside his profiles. No real danger here. So this is a 30 minute chart And david on this 30 minute timeframe chart what i'm noticing. No, I can't say that either I can but I can't say his support is at 8 97 78 It price remains above that looks like this wants to again avgol wants to move higher But you're you're in that kind of a stuck position right now And that weekly may be in a stuck position on that weekly timeframe chart So hope that helps you out david and best of luck to you on that trade The next request that came in was to take a look at apple and that is for g-man inside the tiger's den So let's pull up the charts for apple. We're only going to have about 15 seconds or so So we may come back to these charts out here But apple is traded above a prior swing point now will it close above 182 34? That's the real question out there. If it closed above 182 34 It negates its td9 count pattern and that would go a long way to say that apple should at least complete its one-to-one move g-man and that one-to-one move takes us up to 185 46 Steve roge with tf and then we come back to this break and finish looking at apple that would go out into microsoft point Peter wants to take a look at the currencies joe d wants to take a look at effects I dlo wants to take a look at sap and the dude wants to take a look at tw You're right there The gold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The us futures market and the shanghai gold exchange The gold report tom obrien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30 day money back guarantee so you have nothing to risk subscribe To tom obrien's gold report newsletter now at tfnn.com Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader And gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors tfnn has just launched their new trading room the tiger's den 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 And now they are expanding their reach with the tiger's den available to all tigers and tygruses for just one dollar for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tygruses as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv Folks we're gonna take a look at the chart here for apple continue on with that So even though the uh the daily's got this nice a to b equal cd pen in the upside not been confirmed With volume, but that does not mean that it won't go ahead and make that entire move Out there and certainly it closed today above 182 34 or 182 12 right now on the real screen out there If if that if that holds that's resistance that 182 34 So gmen that would also tell you an important message out there because at the same time that that's resistance On the weekly time frame chart. That's what I wanted to get to I don't want you to get to think I was too euphoric out there With regard to apple where it's going to head to because on that weekly chart We can see that 183 27 levels acted as a real key resistance point So that's really I know as we on my chart. It looks like 182 34 Will be the level that it's got to close above But really it's going to be that 183 27 area that you need to see price trading above in order to suggest that 185 46 level would be taken care of now your up at a resistance point on the daily Chart we know we're up at a resistance point on the weekly chart And so this means what you want to do gmen is watch this 30 minute time frame chart And the reason being Is that this formed a roadsman to mindicator top and it did that at 10 30 it's now one hour later Price hasn't really done much and price continues to find support at the top of that 30 minute profile The top of that 30 minute profile is 180 244 the center is at 181 48 and the bottom is at 180 90 If pray and that's a bullish structure profile if price were to close below 180 90 Then the signal would be price would be pulling back to 178 68 And I would say even on a 30 minute basis if price closed below 130 178 68 that could be telling us that apple is now done with its move higher And it's ready to move lower out there. We certainly want to keep track of april April also we like april, but we also really want to keep track of a April apple whoo stevie apple And as well as microsoft which is the next instrument We're going to go take a look into because they're number one number two inside the ndx 100 And what that means they're over 20 percent of the weighting inside there We take a look at microsoft out here msft is a ticker symbol like apple We don't have any top in place, but here it's a little bit different We really don't have any top in place meaning we don't have any resistance When you take a look at microsoft and microsoft is in an a to b equal cd pattern of the upside This is only bar number six today out here Nancy and this looks in price yesterday closed above the 1.272 expansion Now you don't see it on this white background chart out there So I don't have that a you can draw that a to b equal cd pattern in But the next price target for a microsoft is going to be up at 368 77 368 77 is the 1.618 c to d expansion of that a to b leg out there. However There is a td9 count top that is present on the weekly time frame chart And that really becomes your next key resistance point and that key resistance point out there is up at 366 78 So you got 366 78 and 368 77 as a likely next target So on a weekly basis again apple on that swing point did volume of 228 million shares last week was 119 Quite uh and this week so far we're at 58 million shares out there But you're above resistance you're inside the swing point odds fit the daily chart looks good the monthly chart looks good out there So odds favorite wants to make a run for that swing point area out there on a 30 minute time frame chart Let's just take a look at microsoft here. Let's be thorough If you take a look at microsoft come on open up there we go If we take a look at microsoft this also formed a rogement dominicator top of 10 30 out here So its areas to be paying attention now This is a barest structured 30 minute profile dance And that says if we see two consecutive close below 360 91 This will make its way to 357 23 and a key level to be watching here is going to be 354 97 As a TD night out breakout level out there We haven't seen a close below one of those for some time And so that would be the signal that microsoft is actually getting ready to generate a change in trend We don't have any kind of signal right now like that at all All the signals are really pointing to microsoft wanting to trade higher So i hope that helps you out both nancy nancy and gman with regard to apple and microsoft and that as well Obviously help us out with regard to the nq or the ndx 100 Let's go to that next request that's coming that's from a kota inside the tiger's den And kota wants to take a coin base coion as the ticker symbol out there What do we know about coin base out here? We take a quick peek at the charts and what we know is what? What do we know out here? We know where support is that that's real easy to find Support was really at the bottom of his profile. That was between 71 10 and 72 57 We're trading above profile resistance at 75 52 We're trading above a green oscillator and change line, and I don't have any kind of a topping signal It doesn't mean that price can't pull back and retest support Which would be 81 67 kota, but this looks like it's gunning for 95 95 the 95 95 On a daily basis happens to be as td9 count breakdown level out there So that's one area to be paying attention to Price seems to be struggling at this swing point that formed out here on october 24 So let's kind of investigate that the volume on that swing point was 23 million shares As price got up here a few days ago was 9 million shares yesterday. It was with 6 million shares So it's struggling to take out that swing point That's your real little booger out there and that booger is up at that 89 40 level So if price can't close above 89 40 kota Then that will tell us tell us how pricing it back to the 95 95 level The weekly chart says there's no reason for price not to be able to do that is it's trading above all resistance areas And if we look at the monthly time frame chart, it's also trading above resistance meaning It's trading above the top of its monthly profile So let's go take a look at a 30 minute time frame chart out here and on a 30 minute time frame chart Much like apple and microsoft this generated a rogment communicator top and it did that at 10 o'clock not at 10 30 And now price is trading below the bottom of that profile So what that does code is that opens up the door on a further move lower to run down to 80 205 level 80 205 is its td9 count breakout area if price were to close below that well, then coin Is telling us something else? What's that something else? Well, I don't know. We're not there just yet right now The something is okay. It wants to move up towards 95 95 But right now it needs to regain that 30 minute profile Which is trying to do as we speak in order to regain that it needs to close above 86 37 on a 30 minute bar out there so overall What do we see out here? We see that resistance point We already covered that that was a swing point high from october 24th And that is the real fly in the ointment so to speak. So I hope that helps you out And let's go G man Yeah, yeah, there's a My white background charts in black that a delay that I had not been able to figure out What's causing I actually thought I figured that out g-man the other day Which is why I try to keep two charts open one you can't see but at least so that I grab the the actual prices out there So thanks for that. Let's go take a look at the currencies out here by currencies I mean the euro the yen and the pound that basically gives us the solution to what the us dollar index is doing So we take a look at those charts out here We want to take a look at both the daily and the weekly time frame charts now on a daily basis for the euro It's a td9 count top that td9 count top Falling wait a minute. I'm that's not correct Peace I knew that wasn't correct on the euro It's an a to b equal cd pattern that has formed the top out here And that top was formed by this bearish shooting star candle from november 6 What price should do peter is pulled back to its oscillator and changeline. That's at 106.19 1 1.0619 if price pulls back to that level that will put strength inside of the us dollar index We get back to this break. We'll finish take a look at the currency pairs and move on to fxi sap tw and the ee f currencies commodities and bond markets are as important as ever right now with how they're driving the Volatility and equity market across the globe, which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures Forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both Influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy 60 minute webinar archive. He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of tfnn.com tfnn educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all He's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors 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 8664767523 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 nyse american and tsx under the symbol vgz Come back folks We're taking the charts here for the euro the yen and the pound this for peter inside the tiger's den So what we've established here with regard to the euro is that it has formed? It has completed an a to b equal cd pattern in the upside and it did that with that shooting star candle it formed on november the sixth Now we say that price should pull back that red oscillator and chains on and that's a true statement However, when we look at the weekly time frame chart what we see here is last week Price closed above that red oscillator and chains on the question Is does it close above it this week too if it does That's signaling to an eye that this a to b equal cd top is likely to fail It doesn't guarantee that it will but a second close above that resistance level that resistance level right now is we speak as 1.0702 If price we're able to close above that for a second consecutive week out there peter We might want to circle back and say the euro looks like it wants to move higher That would then take the dollar lower But that's not the pattern that we have right now But there's something for us to be looking at let's say at the close of friday or maybe on monday If we take a look at the japanese yen out here a close this week above 150 16 negates its td 9 count top and on a daily time frame I don't have any kind of a topping signal. Yes, there was a rose mcdominicator signal has been triggered But as you'll see there's no bearish reversal candle In fact, all that we've really seen the yen do is trade with inside that wide bodied candle out there That's all that we've seen it do now typically when all you do is trade inside you have an inside day Well, this has been many inside days so to speak with regard to that candle typically that trend resumes So watch 115 16 at the close on friday peter if price closes above that Then this is selling telling us that the yen wants to continue to weaken Moving higher on this chart the yen would be weakening the us dollar would be getting stronger If we take a look at the great british pound the great british pound had a wonderful rally It's got a td 9 count bottom if we like take a look at that weekly chart and what does it do? It rallies right into that red oscillator and change line So it is not proving itself to us that it really wants to break out if anything just the opposite and says Hey, I may want to go test that breakout level 1.2011 So we have to go take a look at the daily time frame chart. What do we know about the daily time frame chart? Not much. I don't have a topping pattern that's in play out here Um, what we do have though is price is taking out it's trade above yesterday's low But it moved, you know, it's more bearish than it is It's giving us more of a signal that it wants to move lower may want to move lower Then move higher out there if we switch these panels and we go take a look at the 30 minute time frame chart So that's what we'll do next here. Give me a moment. We'll change the screens. This should pop up On your screen here momentarily and so now we're at the 30 minute time frame chart So when we take a look at the uh Take a look at the euro. That's the left hand panel out here What do we have? Right now we've got the euro moving higher and it has broken above a td9 count breakdown resistance level So this is telling us what the euro may want to do peter on a short term basis is go target Its next breakdown area and the next breakdown down area is at the one Let me give you the exact number 1.0738 out there So this is suggesting that the euro actually wants to rally at least on an intraday time period If we take a look at the yen, you may remember Even though I didn't mention it that in a daily time frame peter price had stopped at that oscillator and change line And we can see here on the 30 minute time frame chart It was wave number seven that identified the top. Yes, there's a rose meant to mitigate a signal No bearish reversal candle this suggesting to us that the yen may want to move lower Well, if it moves lower that the dollar gets weaker the yen would get stronger And finally we take a look at the great british pound out to the great british pound It closed above at that last half hour session closed above a td9 count breakdown area That was at the 1.2286 area. This is suggesting to us that it also wants to move higher out there So that's the daily the weekly and the 30 minute review of the euro the yen and the pound out there peter now just to finish it off. I did mention during the 11 a.m update, but let's mention it here during the show There is a new profile that's attempting to form inside the u.s. Dollar index Let's take a look at that That bottom of that profile is down at the 104 91 level the center is at 105 83 and the top is at 106 75 Now I caution you in that this is attempting to form We won't get confirmation of this peter until this evening. So, you know tomorrow ping me Or or you'll certainly see what those profile levels are during that 11 a.m update So I hope that that helps you out Joe wants to take a look at fxi. So let's get over to those charts out here And again with regard to fxi very difficult for me to really call this because this got these are the top 25 I believe it's top 25 holdings in china You got to really see what's in there and analyze those charts But with regard to fxi you've got a consolidation with inside its profile levels on its daily It's weekly and it's monthly. So with regard to support it's at 2504 There's another period area of support on a move lower, which would be at 25 80 That's the answer and change on that number will change as price moves up and down Your other area of resistance at 26 75. That's the top of the daily profile the weekly profile form last week 25 36 as support 27 15 as resistance the monthly profile support is 2506 resistance 33 43 That's about as good as I can Provide for you on fxi. I don't see any other patterns anything else associated with it daily weekly or monthly So joe, I hope that that provided with the information you were looking for ELO wants to take a look at sap turns out an sap. I've got a corrupted file on my white back Oh, shoot. I didn't show fxi charts there. Give me a second. Let me pull that up I did a little brain fart out here It was not intentional It was stinky though. So there's your fxi Joe and here's your 26 75 resistance at the top of the profile 25.04 for the daily 27 15 on the weekly 25 36 on the weekly as well So that was a resistance then followed by support and again support on the monthly 2506 resistance 33 43 No patterns that are we see here with inside this With inside these profiles or anything like that. Let's go take a look at sap now for sap. I've got to change screens again Why do I have to change screens? Well, I've got to change screens because I've got a corrupted data file On the c signal system. I wonder if that's what's giving me the issue of the delays I don't know, but I don't want to fix it during the show I'll take a look at it after the show But here we can still take a look at sap by looking at the black background charts I just have td9 counts and the osciter and changeline But we do have profile levels and we're trading above the daily We're trading above the weekly we're trading above the monthly early in the month But nonetheless the top of that profile is 141 85. So that looks pretty good. What do we know? We know there's a swing point out here on a weekly basis that takes us back to the beginning of july 17 That swing point had volume of 7.8 million shares last week. You closed in it with 3.7 quite light this week You've only done 1.24 million shares. Nonetheless, you're above resistance. Perhaps price wants to go target that high That swing high is 145 10. Let's look at the daily time frame chart What do we have out here on the daily? We can certainly put in an a to b Equal cd pattern. Well steamo if you can put it in why don't you put it in? All right, let's go put it in excellent question out there September 28th is the a point the b point out here is a rally into october 19th And the c point is a two-day retracement down in the top of that daily profile And that was on october 23rd Now what we can see out here with regard to sap is this is attained more than the one-to-one more than the One-to-one point two seven two and likely targeting 1.618 But here's what we know elo and that is the next bearish reversal cattle on a daily time frame We'll generate a sell the d-point pattern short of that 144 73 is this likely target now it's daily swing point high Formed on july 17 the volume there was 1.1 million shares again two hours of trading more than two hours of trading Very light volume only done 300 000 shares out there Steve Rhodes with tfnn You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal 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 basal chapman in your inbox every day First time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis. After all, he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from larry on market movement. 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We're taking a trade web tw is the ticker symbol out here And trade web formed a td9 count topic completed that pattern as well as wave number seven top It completed that pattern on november the sixth a new profile formed yesterday this bearish in structure That new profile has resistance at 92 77 and the center line do it is what you want to pay attention to 91 58 Now price should be able to pull back and test that oscillator and change line at the 97 level price closed below that then the bottom of his profiles where it would target and that's 88 bucks So you've got a top on the daily time frame Likewise though if price is able to close above on a daily basis 92 77 that top gets negated and says that this continues to move higher If you look at the monthly time frame chart, you get a daily td9 count top that lined up right with a level of resistance on the monthly time frame That was the td9 count breakdown error. That was at 92 29 You're at 92 49 as we speak right now. That's a monthly chart There is nothing wrong with the weekly chart the weekly chart says i want higher price But doesn't move lower and pull back towards that 90 47 level first that i don't know But it does have a daily top out there. So pay attention to that one, dude Let's take a look at e em out here the emerging markets and this one You really want to be paying attention to what's going on inside the us dollar index but right now what we can say about this is that there is uh The next level of resistance is up at 39 11. That's a td9 count breakdown resistance area I don't have any reason to suggest that that won't unfold You are other than well the reason why it wouldn't is if price closes the week back below 38 48 If it closes back below 38 48, it's back inside its weekly profile out there and that would just be a consolidation Pattern so with regard to the em the most important thing to do here is also watch the us dollar index because this has a pretty good Inverse relationship. Maybe we could take a look at that tomorrow to have enough time to set that up as we speak Let's finish off the show by taking a look at the 2x for being long brazil. That is br Z u out here. So we take a good brz u. What do we know brz u has got an a to b equal cd pattern But that needs a bearish reversal candle to confirm that top. We don't have that as we speak right now It's also attempting to form a new daily profile band that new daily profile at the top of it Where it's trading about right now is an 83 69 the centered 82 23 the bottom at 79 31 It's not shown on these white background charts But other than that what this is telling me is price wants to go target that 8802 level Folks day two for all the great programming. I'll be back with you on terrific thursday. Please have a wonderful Wednesday. Thanks for joining us. Be safe