 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes At 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Hi everyone, Basel Chapman sitting here for Steve Rhodes, not mastering probability. My show is the Tiger Technicians Hour which I do every every mark a day, 10 o'clock to 11 o'clock. My service is the openly called 80 Newsletter and of course we also do webinars, did a webinar a couple of weeks ago which absolutely is pertinent to everything we do seeing today. These particular chart patterns, there's this dreaded H that we're looking at in Apple. What is the dreaded H? There's this pattern here where you come down the straight line then you have a rally and fail at a peak A or a B the second or first or second peak and how you take out or hold the left side low is imperative. In this case 171.96. There's also a beautiful up channel. We're out of that up channel. I've been doing channels since late 1970s when I used to hand chart with the ruler and pencil and graph paper, engineering paper. In fact I got one right there. I got to make a big photocopy because it was I had to glue these pages together from the 90 when I went back to the Dow charts from the closing prices back in 1930 I think it was 1920 and I had these graph paper. As we were getting to the 1970s and then early 80s I had to glue these pages. I've got pages that are like you know four feet high a wall. So anyway with that said what we're looking at is straight line down that it makes an arch formation and Apple. So Apple in the weekly chart you see in the daily there's a green nine period moving average that has not it's gone underneath the it's gone underneath the 50 period but it hasn't broken the 14. When it does it'll turn pink and that'll say oops now you've got to be careful because there's a chance you're going to test the 171 level. Yeah you're at 178.79 having a low yesterday all the way down the 174 area and today 180 24 was the high and then it got repelled by that high. So this is what I'm looking at. I'll draw it in. In the Apple chart I'm drawing in the potential it's just a potential for this pattern to be repeated. Why? Straight line up and then it comes down and it tries to make the H pattern peak A or B if it fails at that particular level be careful. So this is a leg A to the upside this week because it made a fractionally new high I'm going to just double check that. 189.92 189.88 why am I having trouble seeing these things because it's on the dark side of 98 so 92 98 no it made a higher high so there's still a gray leg A to the upside right over here and that could fail make it gray easy enough and gray there you are gray. And basically look the MACDs week the stochastics week on balance volume the blue line is making lower highs and so far lower low but the nine period moving average and let me go to my 914 chart right here to show you what we're looking at. So this is Apple this is let's go to weekly click and call this Apple AAPL look price is deeply underneath the 14 period moving average but the 90s way above the 14 so it's a process look how long it took before Apple went pink back in going into the October trading of last year so it's a process and that just says to me from the way we're looking at this particular chart yes it can hold green and even see a flip to the upside but the pattern that we're looking at is very similar to other patterns where you made low lows and lower highs I'm watching this closely on Apple so Apple says to me it's having a tough time right now it's gapped it's trying to fool the gap but at the same time that weekly chart says I've had a spectacular run to the upside I mean if I do just a fib right here a lot of people looking at fibs I'll just do the fib right here fibby fibby right there I'll just go to that high it was made at 198 come down to the low of 12417 back in February of 2023 this year that's a spectacular move 124 to 198 in Apple one of the largest companies and it's like it's like a number of countries put together and it rallies and it bounces to the the resistance of the upper trend line says just be a little careful here with Apple as a long-term holder and buying holder I'm just saying to you I wouldn't touch it if you shorter term oriented and you haven't taken a little bit of money off after a great run money management just says take a little bit off I mean that's you got to be judicious in this market you're going to wait while you've got it you've got to do some money management so I take a little bit off and you could plan to put it back whether it's the low or not it doesn't matter plan to put it back somewhere in the 170 is the 200 period moving average in the daily chart maybe put half of that back you know or whatever it is but I'm just saying that money management says so and the monthly chart has had two months of digestive phases this is a chapter we've Roman candle almost at an all-time high the bar after it and this is the month so the month is we've closed halfway or lower than the well the month's not finished but at least for a week and that just says be careful because 183 anytime is holding under 183 in this particular pattern right here says there's just a really good chance that you're going to test that low and if you test that low and you take it and close under it you're in for probably a little bit more of a digestive moment so that's Apple next thing I'm what is the upside at this particular point the upside says there's a lot of resistance levels between 182 and 185 if there is a close next week any day that it closes over 18670 I'd be very impressed then I'm saying look at this as an H to an M pattern what is that that's the lowercase H that has holds the left side low and then has another arch formation not over the left side high not under the left side low until it's completed the rollover that rollover is what you've got to be careful of lowercase h goes to a lowercase m all right where what does that mean we saw that perfectly in the stock called square or block it did exactly that lowercase h goes to a lowercase m there's another one that I was going oh the other one was an look at this lowercase h goes to a lowercase m and it repeats another one and it just says automation auto nation Inc auto sales if it takes out this left side load at any point be careful it could go a lot deeper and that could be around about if it's under 100 and 149 if it closes under 148 there's a big problem all right now the next thing you want to look at so a couple of questions came in so amazon i'll do that right now amazon right now amazon is wholly very nice he said there's a technique that i call the chapwave falling axe and what does it do looking at lower it goes to a spike high goes up it's like a flagpole and it starts to make lower highs and much lower lows and all of a sudden what does it do out of the blue it starts to make you know it is he makes a cup formation we'll talk about that when i return good action so fine amazon and i'll talk about target as well when we get back 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 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 or 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 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 and stock prices get the opening call newsletter by basal chapman and 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 steve road 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 roads is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter mastering probability and you'll receive access to seven of steve's educational webinars absolutely free at tfnn all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors internationally at 727-873-7618 all right folks we're back vassal chaffin sitting here for steve roads hour look at this so you remember what i said about that one minute chart so first of all this is pat and the dreaded h-path that we're talking about before that red that red uh moved down and then it uh tries to route in fails at a peak a does it hold the left side low well in this case it did so that means that the h-path can certainly turn into a cup formation trying to take out the left side high that's exactly why the one-minute chart has done this reversal i could have done a left side right side price time match i just i i don't if you i like to do things in real time doing this now means that i cannot miss right yeah when you go back 2020 are you going to are you going to make a mistake no way you already know the answer so you actually have to search for the questions so there's your left side right side price time match holding very nicely what did i say before i said that that one minute chart is like the daily chart that we're looking at all of these charts where the data is really weak in a cell mode but wait a minute the weekly meaning the five-minute chart that nine it looked like the price is falling it made a beautiful pyramid pattern to the left side support of 440 4464 well wait a minute look what happened that nine period that green line deflected up that's why you don't want to over anticipate what am i trading the short time short term trade and what does it say it says stay with that keeping your mind the larger trends or the larger trend says we've got a weekly or five-minute chart holding beautifully says says you've got to think of short term trades if you're going against the grain i hope i can find that chart again to show you trading the trading the trend so look at this what happens that's the five-minute chart look at the ten-minute chart it didn't even move it barely moved it's still the nine is still over the 14 that means if you're going to short right now the e-mini you have to do it on a very short term basis because you're going against the trend i'll try to find that chart i'd love that chart i'll find it in my from my cd book introducing the chivalry methodology kind of out of print right now but i'll figure out what to do with it one of these days so um so oh yeah yeah but flesh apple going to 149 of the monthly chart um that's different altogether to to a disney it's just it's two separate things look look at disney so disney has been having a rally today um there's a trend line that i've gotten the monthly chart um what i am looking at here is that this chart look at that monthly it is so different to apple at this particular point so what it's 175 even 149 it's just a sideways consolidation so i'm saying they're different chart patterns we were just joking around there okay add a little bing and then you just see what the ping is and the ping is steven nasher steve how are you basil are you and can you hear me okay i certainly can hear you beautifully well you're only just a couple of miles away unit you know i got a brand new phone about a week ago i love it oh good what kind of mobile and uh samsung a14 that's the way to go oh really that's great and i actually mine was also free but unfortunately they gave me the large i didn't want a large one i just took it because they were throwing in as free but and you got a t-mobile do you like t-mobile yeah i had the other big carrier at the end of the alphabet and they weren't good reception in my area oh okay because i've been with the same company forever um and i have to tell you yeah the carrying part of it is fine my daughter keeps telling me why why don't you go with the one we have which is like 35 bucks a month or something i said no i got every liability well you know sometimes it's not quite so reliable but anyway what you wanted to look at uh you know i've been i've been uh treating amd pretty much exclusively the last month and a half to fantastic success you know just day trade excellent yes in the morning you know it goes up to 253 bucks with an hour that kind of thing but i started looking at mrvl marvel yes literally one half the price of amd and it's pretty much the same has the cash as amd but right you can still buy a lot of it and make your wallet your wallet doesn't care about the cash right it loves the cash not the cash but the cash right right right right so can you see my chart right now yeah i'm actually looking on a little kindle fire amazon fire rather all right so then you're probably you're able to see pretty well that the monthly chart went to a peak day at 93.85 folks this is marvel technology in the semiconductor area really great company data center communications symbol is mrvl straining 5628 down 30 cents so this is patent that i call the dreaded h it did this perfectly in the weekly chart which i have as a peak b but it's certainly underneath all the previous high so this is one that could fail as it stands right now so it's so interesting if you look at the daily chart he has an exact example cell mode lower lows lower highs just over and over and over again gaps down tries to ready now to come back into that gap area but look at the weekly chart that was a spectacular move i think it was an earnings and a bunch of things back the week of the 26th of may i had no choice because it took out the left side no i had to start a new peak a and i call this a peak b but when the stochastic fails to hold 80% and then starts to slide below it that's where you get these failure patterns so the ninth right moving average right now i'm going to go to this i'll go to my my chart that just has the moving averages we're talking about it on a weekly basis mrvl you're going to see something very interesting here right the nine is starting to drop drop drop it's still above the 14 but for the first time the 14 if i had to put a a a a a measure here if it was if i was building a wall or something and i needed to get the exact horizontal move that nine that 14 b moving average is starting to decline and that's telling me that the 9 and 14 are now the trajectory is down but it's still holding well enough not to cross negative so that's number one it says you've got to use your shorter time frame to get that on just this one indicator so let me just flip this to the daily you'll see that that nine-speed moving average even with the big spike back in mid-august it deflected that nine-speed moving average is just pink it's not turning it hasn't used any opportunity to go green so that just says to me the trend in the short term that's the daily is down the weekly is still holding well but the price is telling me that they're the lower lows and lower highs now all of this is absolutely irrelevant if you say you're day trading because if you're day trading then i've got to look at something like mrvl and i'll go to the charts and you can see right here in the one one minute chart it's gone peak a peak b peak c we're in leg d and green nine-speed moving average in the five five minute chart is still pink so this is almost the exact opposite of what we were looking at in the daily and weekly but the five minute charts is it might be running but it's going to take a lot for me to turn green in the five minute chart and the ten minute chart is the same thing right so if it did if it could do a 50 percent retrace if it did not ready i i don't i can't tell i don't have faith on this machine here but all right let me take the break down to the 40s and we'll look at it what i want to do i don't know if you ever use the 200 period look at this five minute chart look at the repellent of that 200 period moving average that's a great technique just to add i'll be back with steve in a moment basal captain sitting here for steve rhodesour i'll be right back 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 o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xau 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 o'brien'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 in technical market analysis and it's not 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join our community of traders in the tiger's den you can look over the shoulders of tom o bryan and the other tfnn and 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 tigers 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 so i wanted to show you i don't know if you ever use steve do you ever put the 200 period exponential moving average on your chart uh steve is there oops maybe uh steve left the station uh see if you're still there just give me a yell but what i wanted to show you is this look marvel on the five-minute chart you gap down at the on the seventh that is uh that's not today look what happened it goes peak a peak b peak c your objective always is to go from a bi-signal to a bi-mode to at least a d that's your objective in the bi-signal to bi-mode upgrade in any in the trap wave techniques it goes d and then it goes to an e where does it stall right on the 200 period moving average it cannot break it it makes this rectangle long narrow rectangular technique i teach if you're a subscriber you know you can go to one of my webinars i talk about the long narrow rectangle formation that when it breaks and it breaks to the downside and then it just revisits the rectangle for a moment and then you got to watch out because if it takes out that left side load goes even lower well it just did that so steve you are trading on the very short term you said intraday they're using advanced micro devices but um don't mix apples and oranges oops we're doing that apple just now but don't mix apples and oranges why because if you're trading on the very short term could you care i mean on a five-minute chart or a one-minute chart or a 10-minute chart you couldn't care about the weekly yes the daily maybe but not the weekly because you're in and you're out so keep in mind what you're trading is you want to stick with those parameters in this case look at that beautiful ghost of the five-minute peak at the 200 period moving average guest repel we had garro calling in my show the tiger technicians hour just a little an hour ago he was looking at rig it bought rig he did a great trade on square on the downside but he had bought rig on the long side and i said at that point i think it's stalling but what you need to see is a move to the eight dollars and 28 to eight dollars and 31 cents and it has to be fairly quickly wow it just did that it went to 832 look same thing where did the stall when garro was talking to me i should have done that immediately because he was talking about an intraday trade but we were looking at the bigger picture look at this peak a peak b remember none of this fix i had no idea that i even been talking about this right now see there's your d at the 200 period moving average there's your e a fractionally higher it goes into the rectangle formation takes out the low the other thing i always like to do is look at this you've got your cup formation right here this is that inverse this is the reverse of the technique we were looking at before this is the reverse of this this is the positive why the reverse green why instead of the generation the why could be really positive if it takes out their left side high and holds it for two out of three bars well what did this do it went i like to do the vertical match look at this right here there to there look how weak the technicals are yet that nine period moving average was still holding well but a pullback went back to green and then i took it out look how sharply it declined now you've got a brand new rally in rig this is uh trans ocean uh oil i think oil and gas a b we only looking for each peak if it it's a floating letter until it makes a peak so that's a c when it takes it up by one penny it becomes the new leg this is a leg until it changes d so this could be considered an alt one two three this is not a chapter instant restart this is using the 200 period moving average as resistance and then all of a sudden it becomes a propellant so what i normally would do is the green says just keep the letters going e f when you get to a g after this is going to be a g stash c watch if it makes a little doji candle because that's always a clue and what do we have we have a little doji candle be pulling back so i thought i'd do something live i mean uh good next question i came in is uh where did it go did that did that did that uh did that did that what was it i missed it um oh a u mark from down east so mark a u gold stock uh no silver a u should be silver right yeah angler gold the shanti i guess they also have silver is its a u is the symbol my gold is gc so we're looking at um yeah as you dreaded h there's your peak a there's your b pink nine period moving average daily pink nine period moving average is angler gold the shanta angler gold is that south african company i should know that i'm originally from south africa i used to play at the mines and the little mining town that i lived in as a teenager gave out the most fantastic beautiful city a cape down for this little mining town but you move with the family so look at that there should be something's not right here and that doesn't look like it's a peak c yeah so the question is let me just 2385 85 23 is less it's 2370 so that i i've over the years done this occasionally i make a phantom peak and it's not at a high and i call this because everything about it looked like it should have gone to a c and it didn't do that so in my mind i'm thinking i could call this a phantom c but i'm going to put in the c here that failed so it goes to a peak c and then it takes forever all of these have to be counted but what i'm looking at is angler gold shanta eight years of symbol training is 1684 up 36 cents today this is a lot of work is going to have to be done if i was to consider that this is going to be going into a new buy signal to buy mode and i'll explain what i'm looking at here um if i have to do a left side right side price time match just looking at this even if i was here i would say you know that is just too quick go straight up and straight down i probably want to look at a particular candle and use that as my midpoint the plum line should be number of bars up equals the number of bars down but sometimes the pattern says gee i think it's going to take even longer so i would go to the low usually i'd make the trough after the high was made and i'll say that will be the level that i'm looking at so now i just type in and i match it up and i'll say okay that should be there make that green because this is the way up this is my plum line it's not the center it should be but it's not this is a chaplain wave inside wedge target uh support line and i usually take this to the low i don't want to do that just yet i want to show you what i do so now look at this this is my measurement and what does it do it goes right down to exactly there it is so you kind of health support health support broke support broke support and now it's retesting so it's done the arch formation or it's like a pyramid maybe all right and it goes to there and it actually was a day a day later now it wasn't it was exactly on time there's a weekly chart so that says in the weekly chart it's accomplished a chunk of things but it still hasn't completed the trajectory to the downside just visually it's done it on price kind of nicely now we'll look at the technicals so i'll be back we'll look at AU and DRD is the question what's the DRD so is this something i don't know yeah i'll be right back bezel trapping sitting in for Steve rose hour that was about you 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 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 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on the nyse american and tsx under the symbol vgz but then it went to a b and then went to a c and now it's pulling back sharply but it's holding the 200 period moving average this is drd gold limited ads so it's a overseas company i don't know if this is also south african so au not as good a chart pattern and i did correct that you've always like i did in the chapter we methodology is to identify the lowest most obvious low bar i had to go back to 2015 and that was the lowest it goes peak a b takes a long time but from that low you can't eat successively higher peak so that's a new a b that's a c that's a d then it goes to an e just in july i think it was of 2020 and then i put it down arrow because it's sort of very sharp pullback and the green nine period moving average in the month is still there but it's getting real close to changing to pink it hasn't done it yet so i'm just going to say to you if i don't know if you're long or short au i'd i'd look at this and say you've used every opportunity to rally but you haven't done anything very much and even the gap you're starting to fill in the gap from the other day where the lowest in the 15s so if this is a long-term position i need to see how over the next week if this low of 15 points is that 78 or something i'm just guessing let me just get to it 15.96 15.96 if that is taken out on a closing basis just one day that's just going to suggest that there's still weakness for this to strengthen and i'm looking at the dollar let me just do this now because if the dollar starts to change direction you're going to see a very nice bounce in the house look the euro broke the uptrend the inside track support level now it's a resistance level we saw the same thing with apple not quite as dramatic but it has pulled back but it's kind of holding in the 200 moving average is is at 1.08 it's trying to it wants to try to test that if you look at the usd jpy and the reason i'm going is you need to be looking at the currencies because that's going to tell you a lot look leg d is about to come in the in the yen dollar yen japanese yen currency pair the daily look the nine is still way over the 14 no hint yet of turning down in the daily weekly very strong monthly very strong and this pattern usually says that the price should visit with just under right on or just above the previous high of the flagpole and then you got to be careful so i don't see anything yet that says to me oh yeah a little breather for the dollar but so far i don't see it unless there's something dramatic that happens so now i'm going to say to you i'm putting it together with a u and as far as i'm concerned if you are long i would have a stop 1684 a close below 1560 says at least some of the position i'd ever stop around about that level i'd even ever stop at 1580 which is six cents lower than it was just two weeks ago so that's to make sure but if you're looking to buy i would rather be buying higher highs and higher lows so let it complete this digestive phase and if it's going to work i can tell you this that if it closes above 1780 especially at 1803 it's going to very quickly visit this left side high of the 10th of august and that is at 18 68 and then you can go step by step because look the MACD is doing nicely the price hasn't really followed the MACD all that well so casting is okay 37% on balance funding is okay this is all the daily the weekly techniques are still very poor so i think you've got time i don't think you need to say oh my god and even if it gaps up let's say on monday because the dollar pulls back and it goes to 1710 i say that's okay it's still that's that square pattern where it goes from the h to the dreaded h success rate to a lowercase m in a rectangle formation so i don't see a rush dr was a drd i hope so drd a little different look how severely it's pulled back but look how it's hugging the 200 period period moving average this is and if you look at the weekly this is a pattern that i often look at and i say hmm could break out to the upside for a brief moment in this pattern i call it that's just narrow it's like a trap we're falling x formation except it's a channel because it's parallel lines but look at the resistance levels so it's trading at 970 60 rd it's up 14 cents i think you've got time here as well so i i took i took a bit of time because i wanted this for myself because we did have a silver stock recently and i got out of it a fairly tight stop i said no i don't like it i gave it every opportunity and it wasn't acting well we're done and now we'll have to wait for higher highs and higher lows in this case i don't want to wait for a higher high because it's all the way up in the 1080 that's a point away from where it is what i will say is if that nine-period moving average crosses positive by Tuesday afternoon or Wednesday morning of next week then you've got yourself a trading a better trading stock than the other the au although price wise because the ones lower than the other percentage might be a little bit better gain but that's why i'm looking at it so gold and silver or hostage at least the dollar right now but and the dollar and the euro and the japanese yen so far looking pretty good and the the euro is not looking that great so i hope i helped you there yeah so question came in here a couple of questions i emailed let me just see quickly i won't be able to read them i'll just be able to see what this oh yeah crm crm is salesforce.com that was very good action that that good action was a big bounce held the huge gap it held most of it it went the next day below this is crm is a symbol 22417 apodana 64 and then got back it wanted to get back into this pattern here so now i can draw a cup formation and say uh yesterday and the day before there were nice green candles when the market was kind of sharpie it had a 228.29 high on the beginning of september it opened to 228 round number so 228 is the number to monitor if it closes it doesn't have to it it doesn't it needs to get there and close if it touches it and pulls back that's not good but if it closes above 228 the round number high that was made on the right there on the 31st of august anytime next week i'd say that's going to improve the weekly because look the nine period moving average never went negative it's still positive so yes i like it it's in that category of stocks that i've been listening that have held and done very well it was doing horribly but it's got an island gap look at this island gap from all there this whole thing i'll put it in now but i'm going to take it away this is all an island gap right there so that high the gap down high of the third of uh august was 218.21 and this high right here it was 215.59 so look at that that's nice that actually i i don't like to do that because it has too many other implications so i'll put this in right there it is so that's what you monitor and if any day next week there is close below 217 that's eight points from where we are right now that's going to be a problem but so far it's going to be very i'll be 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 tom yo brian 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.com 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 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things can happen at t well the woman that shard went to a d now it's making this arch formation the inside wedge target support line and some people say could you do this again i do this in my show so i'll do it on uh monday i'll do this live here's this m-shaped pattern with them with the nine still over the 14 and the five-minute chart but look at this remember with we were looking at rig and i said oh let's look for tiny doji candles see if there's a reversal well there's your tiny little candle right there at g-snash c it's pulling back nine is still good in the uh five not in the one-minute chart but the five so think of this as daily weekly monthly so that you've got your time frames as i was saying to steve think of these as uh if you're trading in today the week is not as important but have the daily up and that's the most important thing so let me just sum up as we're about to wrap up great program for the rest of the day we've got um as far as i'm concerned the dow is still in the cell mode in the daily chart weekly we're watching very closely to see if that nine eventually comes this is a big consolidation i know elliott waving all that you got huge moves to the downside it depends on the interpretation i just don't see that i see a rotation correction in the daily we haven't yet impacted the weekly it's just a slow process we'll see if next week we make we go down below 34 000 the dow then that week is going to start to change so far all the week these are looking really good it feels bad it's using time more than price so that's most important look at the smh's that bifurcation i showed you in the credit cards where america express was way down visa was way up look at this target target way down look at walmart i mean the same retail walmart up near highs all-time highs as we speak so bifurcated market very much so just know the positions that you have deal with them maybe even forget about the market what people say for the moment look at your holdings if they working it works look you've got someone who's been holding a rig for a long time look at that they're all-time highs just steady as you go have a wonderful weekend uh stay tuned for for great programming check out my former dating newsletter and i hope you can be here 10 o'clock 11 for the target technicians our monday have a great week