trade what you see with Larry Pezzavento call now toll-free at 1-877-927-6648 or internationally at<PHONE_NUMBER> now Larry Pezzavento each day when I do these shows I try to give you things that I think are very important and I wanted to bring to your attention you know these 3-8-2 patterns and I posted the one from the crude oil and I posted the one for the E-mini S&P and I posted the other one for the Treasury bonds all of them were you know huge winners and someone said well that's just you're not posting all I can't post them all I'm just posting the ones that I see now this is part of the crude oil complex because when you crack crude you get a heating oil and if you notice here the load today was an exact 3-8-2 of the load that we made right here after the big move down it went exactly to it and stopped right there and it's already taking these highs out in just a matter of three so that's three out of three today folks of all the stuff that I've done in in my life in trading and I've done a lot and you know the ABCDs are extremely important the Fibonacci's are extremely important but if you had one thing and God said you can only trade this I think I'd say God I think I'm only trade 3-8-2's and the answer for that is threefold one you're trading with the trend two you know exactly when you're wrong because if it goes below 618 you know something's not right and three this puppy works about 70% of the time and I'm I'm just I watched and Tom Hoogard does not quantify it like that but that's how he trades he trades in the direction of those types of of trends you know that's what he's doing here is the one in the crude oil because this was the one that it's it's also gone up in the new high ground also today so you'll see and I'm not going to do all of them because you know you repetitions the mother of knowledge and but that doesn't make a whole lot of difference but you know we did we showed you the treasury bonds and they they broke well over 1500 dollars these have moved several thousand dollars the the S&P worked for about 15 handles it's now back to the 3-8-2 retracement the last I checked it was trading there at around the 20 I believe excuse me it's 21 45 21 45 is the number on the on the crude oil and but the 1.27 on the downside was what 41 24 and it didn't get there so there's a still possibility that this market could have another rally in it you know because it's holding up incredibly well I mentioned that you know early in the day because as we looked at the even any Dow Jones which has been the leader because of the you know the big stocks are their price weighted not cap weighted after the 61 percent retracement was hit it's been only down 400 Dow points you know and the S&P's come you know all the way down to almost to the 3-8-2 so this is held up well Russell not so much and neither is the Nasdaq but the Dow Jones is holding up and that's part of the reason of you know what you're looking at with those 16 or so stocks in the Dow that trade in the hundreds and and what was it Boeing Airlines happened to be one of those and I focused on that this was from the folks over in the Las Vegas group keep it as simple possible just looking at hourly charts and finding ABCD patterns and you can see today you had a beautiful ABCD right up here at the 61 percent retracement and it broke five dollars I don't know what's happened since that time but there was a beautiful ABCD right there at the 61 percent retracement and look at the on the way down there were ABCD's all the way down there three of them and telling you this will be a good place to buy it and boom by golly that happened to be right now it doesn't work all the time I say but by golly you should pay very very close attention to it I'll tell you what I'm going to do is when we do this next trading session I'm going to spend probably 90 percent of my time on 382 patterns for the folks now they work the best in strong trending markets like we're having today in crude oil heating oil gasoline and some of the others but that that's the main thing that that that you're trying to do is to is to pick that out as your best guess to you know try to find out which one which one of these work the best but the probability of them winning is extremely high and you know the risk is extremely low and you know right away when you're wrong because it just goes through it and you're just out and you just go on to the next one but I bring up the ones and remember folks I did these ahead of time on some of these today I did it in the especially in the treasury notes and treasury bonds because we had had the big break and we had a 382 retracement the previous day and I wanted to show you that's what you should probably try to expect and that's what we were looking for was that now we had one here in gold here at the 2044 I believe just a little while ago in fact it's above 2047 that's a no good that means that would that that one's not break that's not working but this one had two of them now there was your 61 percent retracement was right there that's you know remember we we got out of our longs there I didn't reverse and go short why I don't know but I didn't and anyway there was your 382 we mentioned that to you yesterday here's the one today and we've already broken down we're almost taking out I don't know if we've taken out 120 the handle of 129 in other words to make 128 31 yet or not but it's been a big big move down and those are some of the things that you know there we as we go through looking at these today that it's it's extremely important here I've got the treasury bonds not quite up to date but close enough you'll be able to see the fact that they are breaking down from those levels that we were talking about you can see them they're just lined up really nicely and I know we're lower than this because I haven't checked it since that time and so that would tell us that we're going to make a large A B C D to the down here and at that point you'll have a three drive pad and you'll have a drive one drive two drive three that'll be down 128 probably 128 16 somewhere in that ballpark we have to do the work on it a little bit later but the fact that we broke below there tells us that we're we're getting ready to this in fact that once it went below 130 folks it officially became a bear market that's why this rally back to the 382 was so important because after the market became bearish just like it did here it rallied right to the 382 it didn't get any higher and this is the second largest thing that's traded in commodities folks number one of course is a treasury notes that's the 10 year and then this is the 30 year but that's how it works now this is not foreign exchange this is the actual treasury notes and treasury bonds this is treasury bonds so that's what we're paying attention to as we go through some of these I've been asked to talk about that hog trade mainly because not many people trade hogs but when the pattern is there I think it's necessary to you know to pay attention to to why it works and I'll get this hog trade up and when we get ready to come back from the break I will show you my thinking behind it I got a lot of laughter in the video last night because I couldn't make up my mind down in here and what I finally decided on was this and when we get back from the break here pretty soon oh we've got plenty of time we got a few seconds left anyway uh oh now I messed it up just a second there we go but I was assuming that the that went there now I now we can take a break eight seven seven nine two seven six six four eight 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 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 tfnn has just launched their new trading room the tiger's end 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 tiger's for just one dollar for the year there's no catch 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 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 are you looking for a way to consistently add winning trades to your portfolio tom o bryan is here to help tom o bryan has been successfully trading markets for over 30 years a frequent contributor to tv ameritrade network and cnbc tom o bryan founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get tom o bryan's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors at 1-877-927-6648 internationally at<PHONE_NUMBER> hey folks i've been asked to explain this hog trade first of all don't trade cat don't trade cattle and hogs very often but when the pattern is nice and these these hogs and cattle are traded by the hedge funds big time there's a huge open interest in these the pattern is beautiful we had an abcd coming in here as you can see at the 1.27 that was at 82 90 and the load today was 82 65 right after that it rallied two full points which was $900 and i don't know what it's done since that time but what i tried to do was to be a little clever and buy it at the abcd and that that that violates a very important principle albert einstein said mathematics proceeds geometry is what einstein said and this is mathematics are these little lines like this these little abcd lines are the geometry so you got to go with those lines and that would have got you in right on the low of the day and it would have worked now i had to make a decision i make these all the time sometimes they're right sometimes they're wrong but i try to forget them as best i can but you know you don't always get that choice but what you try to do is to keep the odds in your favor and when you're wrong you get out of dodge that's all you can do folks and believe me i can tell you i've been to dodge a quite a few times so i know that it's uh it's uh it's a pretty big deal anyway i i've been doing charts for so long that i've seen so many of them that i have a tendency to be a little bit more careful with other people's money when i'm working with tom's group and stuff to keep our losses small but i spent at least seven or eight minutes trying to talk myself where i should buy it and i find it ended up on the abcd here of this big move and i i even mentioned the fact that mathematics proceeds geometry and yet i still went to that level right here and there was a reason for it it was this gap right here gaps are danger signs in the abcd program folks whatever you when you're in a bc swing like this is right here bc when you this is you there's your ab here's your cd when you're in this cd swing like this and you're coming down from c and you have a wide range or a gap you can almost bet two eggs out of a dozen that it's probably going to exceed it by a little bit now this is still only rally two points this might come down and still make this so i'm going to make this a still a live trade but i've got to follow it closely here for now if a day or two because if i'm wrong and if i'm wrong what i'm going to do is johnny what am i going to do johnny's holding up a little placard with three numbers on it one is a three another one is an eight and the other one is a two and he's going to say yep i'm going to be looking for three eight two and why because when major tops and major bottoms are formed the three eight two is where you want to be folks that's the main thing you've got to be able to you know follow that but i i did want to bring those to your attention today because they are you know extremely important and uh the fact that that heating oil and the crude oil i didn't even look at gasoline because i hardly ever trade gasoline i wish i didn't have to use it could cost me 90 to fill up my car yesterday first time ever oh couldn't believe it i to me that was uh just absolutely unbelievable i've had a request to talk about stan harley's chart here that uh that he talked about here last week because it's it's very very important because these markets repeat over and over again and we really need to be watching the time around the uh june 29th level that's what he was looking at for a pullback in here so if we get that that would be a very very interesting one to pay attention to basically what this is folks uh this is a 20 year chart overlaid over a 20 year chart in other words this is a 20 year time period this is a 20 year time period and it shows to you the lows and highs have very very similar time frames involved with them and there's the next one coming in so the work that he does is very very sensitive so we'll have stan on several times before this happens but we want to keep watching that because that's an unusual chart to see that and we know that these things repeat over and over again and that's why it's uh it's so very very important um the uh someone else also asked the questions uh about the the natural gas that we've been trying to buy here again this was what we did here uh on the natural gas and the same thing occurred you'll notice here that we were trying to buy this abcd pattern down in here uh and and we did and we did it okay but what we did was after it had a really good move i moved my stop too soon to break even so i didn't get it until sunday night because this was the 382 and i went through all of the the the things from the uh crude oil complex the heating oil crude oil and gasoline and also through in natural gas and all of them were saying that we had had 382 retracements and we had mike moron last week and he mentioned several times that this was probably going to be a real interesting bottom and so what we're looking at here is a spot where we can probably buy the natural gas and uh it opened slightly higher and had a run up and we've not been able to make the 382 yet see we missed it by uh two dollars here this morning because there's your low uh there's your high there was your 382 and now you're in the the process of making a another abc to the upside so i will still be following to find out when we do get the first 382 because you know what happens is these things keep going up and then you forget to go back and look at it and that's what it happens and you want to be paying a close attention to it really powerful pattern folks it's one of the it's a well some people use 0.238 but frankly i i've never used 0.38 0.238 i use 382 only in strong trending markets and that's what we're seeing so far here in the complex for crude oil and then also in the energy part with natural gas so those are the ones that i'm watching and and how i follow it so it's all related to risk control it's a simple process of you know getting exactly where you want to be at a certain time and that's the main thing of why you want to do those so i hope that gives you some really good ideas of what's going on when we come back from the break i keep a file here i'm not an elliot wave person but i i like the charts that they bring up sometimes and in longer term some of the work that they have is is really amazing and i think it's time that what we'll do is we're going to review that this is going back just about a year i've kept these because i wanted to see what the market would do during that time and it's done pretty much what was expected and we'll go through where we are and the fact that we've had retracements back and all these things and it's interesting the fact that all the news that's coming out is telling us that wow something really big might be out here but we have to wait and see if in fact this is going to be too much at all but we'll have it's not a lot of stuff there's just a few charts and some of them are really interesting because what they do is they tell you a pretty good story of the psychology behind some of this stuff timing wise shucks that could be off by six or eight months but the underlying fundamentals i guess is what you would call it are still there what we try to do is to match the patterns with the ratios to get on board we'll be right back folks eight seven seven nine two six six four eight 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 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 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 am to 4 pm 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 are you looking for a way to consistently add winning trades to your portfolio tom o'brien is here to help tom o'brien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom o'brien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o'brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors 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 okay folks we're back and i wanted to bring to your attention some of these elliott wave charts now remember these are these are quite old these are probably nine months old maybe longer because you can notice here that the year down here was a couple years ago but you can see we're released into 2021 so they're about nine months old what i wanted to do was to show you that as we're going up into this area what you want to be doing as a trader is trying to find out where would be the best possible place to exit now you can't this happens to be margin debt you know i don't trade margin debt i hardly ever look at it but there's others that were in here the other one was the fear and greed index but all of these charts and i saved them for a reason because they had some validity as far as what was supposed to be going to happen now here is another one and believe me these things have gone completely off the tops of these charts in other words these this was not even close to the top they went much much higher than this but they kept going higher and higher and higher nothing wrong with that i mean i'm wrong i'm wrong a lot you know when i'm wrong i'm certainly going to tell you why don't have to tell you you're going to tell me because you let me know that for sure but look at that here's one that i never follow at all but this one happens to be with penny stocks i've never traded a penny stocks i've looked at them i've been involved in court cases with them and stuff but i've never looked at but look at the trading volume in the pending stocks i mean this looks like the tulip bowl a thing from 1649 for god's sakes i mean that's uh that's a huge thing and then here is another one here this is record volume on the new york excuse me on the nasdaq exchange and believe me this went much much higher than this when we had the you know the all these stocks that went you know crazy to the upside so they went much much higher than that the reason why i'm trying to show you this is going to be the very last chart and this is second to the last which is shows the insider selling versus insider buying and i wanted to show you that here again you're looking at these spikes levels that we've never seen before but the next one this one this is the one why why saved the whole group is because of the fact that this was the one that really really made sense to me and this is his long-term prediction of what the stock market might do and if we get this up here you'll see that he was looking at these ratios now he picks uh he picks a you know certain of these this is the area between 1960 through 83 83 is when it broke out to the upside but this is where um where he picks one of these numbers to come up with the square root of of 1.618 up into this area here which is what we were looking at eventually what we were doing as we go as we kept going higher here's where trump was elected but as we get up into this area that's what i go to is the daily chart i look at the daily for the dow jones the s&p nasdaq russell and i try to find places where the time and price comes together and says yes this could be the spot where i'm going to take a legitimate risk calculation that intelligent risk speculation as we say uh in in the trade here as we look at this the other thing is folks uh what we do here has nothing to do with gambling we are what we are we are insurance investigators is our we take the the alternate risk of insurance in other words if someone wants to have insurance on the house we'll take the other side of that in other words if someone thinks something's going to go up we might think it's going to go down so we'll take the other side of it so we're basically an insurance has nothing to do with gambling folks gambling is based on an event that once it starts it cannot be pulled back the toss of the coin spin at the dice turn to the card you know the toss of the ball blow the whistle shoot at the gun whatever it happens to be that goes on until the event is over and then the bets are paid off well with trading you can go in in two seconds later you say you make a mistake and you can get out and they'll pay a very very small commission you can't do that in a gambling event they have control over that and the odds are predicated in their favor when you bet on a spending a sporting event you have to pay 10 percent in other words if you if you uh lose the bet you pay 10 percent if you win the bet you don't have to pay it but somebody's going to pay it so it's five percent every time they take your action they're making five percent we used to talk about the billions of dollars that are bet on these games in horses and soccer and football basketball they make a lot of money and they're very good at what they do i follow the spreads just to see how good they are i might make two bets on a event uh in a year uh football game never basketball football games once in a while never baseball but that's and that's only what this year my in the in the bowl games alabama was in some type of a bologna bowl i mean it was nothing and they were playing a team that they couldn't even carry the uh the the equipment for the alabama team and alabama was a 21 point favorite and and i said oh this is a mortal lock and they won by they won 47 to nothing so when i see a mismatch like that then i'll they'll make us and when i talk about a small bet i'm talking a hundred bucks and my my record in the derby is unmatched folks i mean you talk about somebody that's been hot boy i hit the 1987 derby with furten and the number one horse i had thunder gulch in 1995 and that's two out of the last 30 years so i'm 15 for one i did get a fourth place finish but it didn't play anything this year but i only bet 50 or 100 bucks so it's it's not anything you know to write home about but when anybody challenges you about the gambling and speculation believe me there's there's no comparison there's books that have been written about it that in fact mark douglas introduced me to several of them because people would ask me that question and he told me the answer he says the answer is the only thing that they do is we keep score with money other than that they have no legitimacy or any any type of things that are the same because you can change your bet at any time and quit get out you can't do that you you don't have control of your money if you're gambling if you're speculating you have control of the guy of your money and that's the that's the whole difference of what we're what we're doing you see that's a that's the important thing i did want to mention one other thing here on the this trade that we were looking at yesterday that worked so well which was in the canadian dollar oh what happened here which was a canadian dollar once we went through that you know the seven eight six level i says we're going to go down here and make a double bottom and that's exactly what we did and then we rallied up and we're just in this zone right here right now so soon as we got to this level right here buyers finally came in they didn't come in at seven eight six they didn't come in at six one eight they didn't come at fifty percent they didn't come at three eight two but they did come in right here so this is going to be really interesting here in the next day or two in fact is what we're going to do is when we come back from this next break we are going to take a look at this particular trade and to see if in fact it is going to be you know something that we can actually put our number on it and see if it's a see if it's going to work or not but that'll be when we come up with the next break if you have any questions eight seven seven nine two seven six six four eight i'd be happy to answer any questions any questions for you i will probably be doing two shows the rest of the week possibly three because basil's going to be gone and i'm putting together some things uh pass things that i've learned and uh trades that i did that didn't work and why they didn't work and you know all those things help because you got if you got a bad golf swing you got to get it corrected folks it'll be right back eight seven seven nine two seven six six four eight 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 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 dot 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<PHONE_NUMBER> 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 okay folks what i've done here is blown up the chart of the canadian dollar versus the us dollar to show you what happened here on a longer term well it's not longer term but to give you a macro view as opposed to many of you we went through the fifty percent three eight two fifty percent sixty one seventy eight six and we got down to the double bottom that's when we came just in a few pips of the exact double bottom then you can see we started to get a rally in here so what i'll be doing tonight is i'll be looking for the high down to the low to see what the three eight two retracement is going to be on this move because that's going to give me a chance to go in and you'll have a pretty good chance to see whether that's going to be a viable trade or not here happens to be a three eight two right here you see that we've rallied one two three four five six days and if you went from your high down to your low up to your high that was exactly three eight two now this fifty percent is based on this number back here but the three eight two from this high down to this low comes in right there at the three eight two level which is pretty much about you know that is right it's at the fifty percent level not the three eight two so the three eight two is here so it goes right here fifty percent level and then it has the final final move down so we'll be watching the three eight two on this part of the move and that's what will give us a pretty good chance of what we're watching through some of these other things that we're paying attention to today now i wanted to bring to your attention i talked about bowing earlier but i wanted to also talk about this wheat market because i tried to stimulate a little action from those that seem to be really interested in abcd patterns when i was doing live in las vegas on the twenty six and it's uh some people have certainly uh opened their eyes but there's the wheat trade we said last night saying that should have some resistance up here at the three seventy and look for a move that would be equal to this one right here and we in fact did get that today we went a little bit below uh the three eight two retracement but it did equal this last correction so there's a possibility now that we've got another abcd on top of another abcd and that's what we'll do tonight is determine if in fact that is what is happening we don't always know that it's going to be happening but that's what we think it might be happening so let's watch that as we go through and look at this the euro also the euro has not gotten to our area of uh buying or covering the short want to get this up here because it's close but it still hasn't gotten there and we'll get this up here you'll see there's where we uh we sold it way back here is where we sold it there was the first little garly we rallied up and now we're making this larger abcd pattern down in here that's well over twelve hundred dollars and uh so what we'll do is we'll book that that money and then when and if we get a rally and we're expecting the rally to be just like this one you see that if you added that to it what you're going to be looking at at that point then is it looking at a one three five pattern that tells it just still had it to go lower and if we start getting above this level right here folks that tells you that this pattern is wrong and you have to do something else because you can't stand in front of it it's like trying to catch a folding knife just doesn't work very well so that's that's what we're paying attention to here and then and i really need to talk about this because the theory behind that euro trade started you know two weeks ago because when we were hitting this uh three eight two sixty one percent retracement sixty one percent retracement on this long-term weekly right here see we missed it here by quite a bit then we backed off and we missed the three eight two by just about ten pips here three days in a row and then it took off and went up and made that 61 retracement two weeks ago and now it's been rolling over and as you can see it's completing that a bcd uh to the downside so that's another one that we that we're wanting to uh pay uh really close attention to because it's uh it's an important one and then what we what we do is we follow it through here this was a uh this was done uh last night because we started to see that the fact that this euro trade was finally rolling over and how did we know it was rolling over this was the one three five pattern you see there's your one there's your three and there's your five the difference between this and a three drive to a bottom pattern a three drive to a bottom pattern would look like this there's drive one here there's drive two and there's drive three that's what you're looking for and the one three five is just the mirror image of the a bcd because what do you have in it you have a bcds but the cd legs are all retracements you see goes right to the 78 percent level right to the 61 there's your three eight two and if you put the a bcd three two together it's going to get you down into this level here and that's where we'll be looking to you know cover the euro and then wait for a bug and actually go long and see if in fact it goes up to our next level we reverse and go short again so there's several trades in here if it lines up perfectly whether it's going to do that or not one doesn't know but that's the nature of trading boys and girls there's no question about that now i'm not watching the the markets right now but i wanted to see if in fact that the e-mini had held up against this 382 that started earlier and that was up here around the 1146 level so that'll be one that if it happens it's going to be very very interesting and we'll we will know that until that happens but we will pay pretty close attention to it and by golly it looks like it uh went right up to that 1145 in fact it did stop it didn't get above that 382 one more time so that's what i'm looking at by the way folks if you did do that trade in the uh the the gold selling at 11 excuse me 2044 you got a three dollar stop you know you're talking to something that's worth 244 204 thousand dollars so make sure that you're not risking more than three dollars on that trade put your stop at 47 and see if it's going to you know hold up you know for for a good trade and if it's a bad trade you just get ready and do the next one that's basically that's all that's all you're really doing so that's pretty much it i hope that answers the questions about the the natural gas also the questions about the hogs and those are the main questions because the natural gas did not make a 382 retracement as of yet that's why we have to continue following it i want to bring this and this is what you do as a trader because you don't have to be in front of the machine all the time all you have to do is to know when and it's what you set your limit miners because when you get close see i'll be watching the 382 retracement of this whole move now so you can't use this one anymore because this one's higher so your your line has got to be from your high let's try that again there from your low up to your high and then you watch the 382 retracement that'll be the one it might even come right to this level i don't know but that's where you want to be watching for a spot to say okay this is what if it works fine and here's a contract that's worth 77 thousand dollars your risk 600 bucks 600 bucks in the 70 thousand dollars is not a lot of money folks so that's one that you don't have to worry too much about and oh my goodness the clock on the wall says we're taking a break eight seven seven nine two seven six six four eight 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 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 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 everything in the universe is governed by the Fibonacci sequence this mathematical principle is 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professional traders during market hours the tiger's den available to all tigers and tigers for just one dollar for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com catch Tom O'Brien professional trader and educator founder of tfnn also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on tfnn okay folks I posted the chart of the Dow Jones the many S&P because that's been the one that's been the strongest the high we made Sunday night at 33,848 was an exact number that's was the high that was the 61 percent retracement from the high on May 1st folks in two days now that's well three days Sunday Monday Tuesday we have not been able to make a 382 retracement and that's in that's also coming true when we've had some pretty good corrections in the S&P the NASDAQ and the Russell so the Dow Jones is holding up relatively well now remember the Dow Jones is only 30 stocks and they are price weighted in other words the price of their stock is what counts it's not the capitalization capitalizations you take the price of the stock with a number of shares that gives you the capitalization so it's a skewed program but that's the way the Dow family wants it anyway it's held up extremely well partly because of some stocks like Microsoft and Apple and also Boeing all three of those are high priced and they're acting relatively well compared to the rest of the market whether that'll continue or not remains to be seen so let's pay a little bit of attention and we'll be able to answer those questions but that charts the most important one of what we're looking at today and the fact that we have a major bottom on our hands in the crude oil market so watch for your first ABCD pattern in crude oil on a half hour hourly chart because as H.M. Gartley said on page 222 watch for an ABCD bull market buy and watch for an ABCD bear market sell and he didn't have any idea about 0.382 but we do and we know that it's a big help when you're learning to trade so keep that in mind now make sure you live every day in an attitude of gratitude and may God bless and we'll see you on the flip side tomorrow thank you folks