You don’t need to master complex cycle theories or pay to join some elite trading group in order to recognize and utilize daily turning points. I can teach you how to spot them and exploit them with conventional technical analysis.

Scoreboard

EUR/USD: 2 wins / 0 losses; ES: 3 wins / 0 losses

Chart Chat

Today I increased my MACD histogram parameters to 144/377/89.  This means it is above zero when price is above the 144 MA and below zero when price is below the 144 MA.  I took trades only when the MACD and Stoch were aligned.  E.g., on the EUR, the histogram was negative so I only traded short and only when the Stoch was bearish.  On the ES, the histogram was positive so I only went long when the Stoch was bullish.  Both markets displayed LO-HI-LO configurations – the opposite of yesterday.  Have a great weekend.  Be back Monday.

Please click on the charts below to make them larger.

Chart #1

Chart #2