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: 4 wins / 0 losses; ES: 6 wins / 0 losses

Chart Chat

Today, I again substituted a CCI histogram for the MACD histogram while keeping the MACD lines.  Both markets had four points: HI-LO-HI-LO.  I also tried my hand at some Elliott Wave counting.  Every daily turning point is always some type of EW point as well.

Hopefully by now, you have had a chance to read the contents of My Technical Toolbox, My Money Management Plan, How to Read the Chart Notations and Daily Turning Points.  If you ever need a refresher, just pull up any issue from last month.

Please click on the charts below to make them larger.

Chart #1

Chart #2