Trading Futures | John McNichol | 3-29-21| Trading Levels with Fibonacci

Trading Futures | John McNichol | 3-29-21| Trading Levels with Fibonacci

Show Video

good morning everyone john mcnichol here and welcome to another fantastic week of education with td ameritrade i've joined my good friend ken rose you have reached trading futures what we'll do is we'll take a look at the market open with some of the indices and some of the fallout from some of the hedge funds i guess over this last week also go ahead and apply fibonacci to various asset classes so stick around okay hey do appreciate those of you that are joining us live today such as ricardo uh m.a charles swing big doors m.a medhi anvil hv carrick thanks for joining us and joining us each and every week special shout out to those of you listening to the archive session as well uh as you can see uh mike fullette it is is not here for this session uh we have been you know kind of mixing things up a little bit i think we're still uh will the determine uh how some of this shakes out but i am here with you today and a great day to start to start a week off right with education so let's take care of disclosures we'll get right into it presentation is for education purposes not a recommendation or endorsement of any particular investment or investment strategy past performance of any security or strategy does not guarantee future results nor success now in order to demonstrate the functionality of the platform we will be using actual symbols keeping in mind td ameritrade does not make recommendations or determine suitability of any security or strategy any investment decision you make in your self-directed account is solely your responsibility futures futures options not suitable for all investors and futures and futures options trading services are provided by td ameritrade futures and forex llc those trade privileges are subject to review and approval not all clients will qualify options as well not suitable for all investors spread straddles other multi-leg options strategies often involve greater or more complex risk than single-leg option trades now uh you're encouraged to practice which you learn with tools such as paper money software however that application is for educational purposes and successful virtual trading your one time period does not guarantee successful investing of actual funds during a later time period as market conditions change continuously uh also uh td ameritrade network brought to you by td ameritrade media productions company uh that media company and td ameritrade are separate but affiliated subsidiaries of uh the charles schwab corporation uh okay now let's go ahead and get into uh our agenda let's talk about market trading levels uh and uh you know as tied into with some of the news and then we'll go ahead and apply fibonacci to some of the different asset classes uh let's go ahead and actually bring that up we've got the thinkorswim platform uh point your attention uh over on the scratch pad if you wish to follow myself and other fine instructors such as ken rose who's helping out on the chat go ahead and follow us on twitter also if you like what you're listening here today make sure you click like on this webcast on youtube and likewise feel free to subscribe to trader talks you can be informed of some of our other sessions all right so uh starting off uh you know looking at a list of some of the index futures you know we are starting off in negative territory for the week uh with the s p futures off about uh three tenths of a percent uh looks like that's the same across the board on the russell ford slash rty on the nasdaq forward slash nq and uh looks like the dow holding up relatively well however a little bit in the negative territory as well uh let's go ahead and uh start off with a uh a daily chart now also if you look on the left-hand margin uh i do have shared a grid chart that is case sensitive so if you want to follow along with a similar chart i have a daily chart on one side and i have an intraday chart in this case five minutes uh with pivot points on both a a daily and a weekly basis and that can give us some insight you know at least with some of the current trading activity let's start off with the daily chart go ahead and maximize this let's go down to three month chart and you know looking at those s p futures uh with uh an intraday high uh the cash index i believe had made new highs last week uh actually not quite it had a higher close uh but not a higher intraday high let's go ahead and go back certainly even myself uh digesting uh the happenings last week as i was on military duty previous week i just got back saturday night and as my first commercial travel about a year back at fort leavenworth so uh here's the intraday highs uh for the s p futures forward slash es and we can see you know we're off of that level now you know some traders may go ahead and you know consider that you know as far as areas of support and resistance you know whether at the intraday uh high range some traders may focus around you know the closing ranges or the bodies of the candles one approach is uh certainly being consistent on how one applies that you can see even today as far as with the closing range you know price is pushing up against uh some of those previous levels as well as on the downside you know looking at some of the lower ranges where we can see both intraday you know as well as with some of those opening and closing ranges now if we take a closer look uh and so we'll get into the uh the question of um you know with some of the news uh you know a lot of discussion i believe it started uh on friday and this is uh continued into monday uh as well with a uh with a hedge fund and with exposure uh of different banks and uh some of those banks such as credit swiss uh had talked about that this morning uh previous to that uh one of the japanese banks uh nomura uh had also talked about their exposure now nomura mentioned about i believe about two billion dollars uh credit suisse hasn't uh exactly how much they're still going through it but can have a material effect uh on some of their numbers there and we'll see if that's going to apply to other uh banks as well that's where some of that fear may be um however you know looking at the price action you know uh looks like the market's still somewhat taken in stride as we're trading up in the higher range of that market now a lot of you know any of you that are technicians uh you know technicians do uh dislike news as it uh instantly discounts uh what is happening on the charts and you know as we look at forward slash es you know at the opening prices are trading higher first five minutes trading into that higher range on what we saw there on friday now some things that keep an eye on uh during today as well as this week uh you know i had i do have pivot points on the chart uh both a combination uh of daily and weekly again this is on this shared grid over here if you don't want to add them individually yourself there's the daily pivots there's the weekly pivots which are identifying potential support and resistance areas based off of previous trading ranges in this case again daily and weekly [Music] the only thing i did different in in my settings is just to give a little contrast is i change the pivot on the weekly to gold just to contrast with the daily now as we can see uh price action had been navigating back and forth uh on the daily pivot in the overnight this is friday's close this is sunday evening going into early monday notice the weekly pivot down here below the price potentially acting as support so you know even though the market being down you know referencing the pivot points you know going back to really last friday where price action had been previously below those weekly pivots price action is now above it and so uh going this week you know we still have you know more of a trend developing from that bounce last week uh other things we can be looking at here and i'm trying to look keep an eye on your comments as well so we can see us trading again up to that 3961 which i had as acting as some resistance and so for a bullish continuation you know traders may look for a pop or a break above that you know bears may look for a fade but ultimately from more of a bearish posture on the day is to see prices break down below that overnight range being below the daily pivot in this case around 39.43 and then see if that retests the weekly area and then if the weekly area breaks down that could build towards more error sentiment over the course of the week so even though you know some traders may not uh trade off of pivot points uh it can give you an an intraday feel as far as where some of that bias is and you'll notice that you know these weekly pivots have held so even from that overnight you know the worst of trading last night hitting those lows still stayed above that and possibly bulls taken some positions see if we're able to break in the higher highs apply the same thing to some other indices that was the forward slash es so let's take a look at the small caps and notice in the case of the small caps uh there's a little more uh tightness there between the daily and the weekly uh so in this case looks like at around that 2100 mark and we can see the russell you know popping out again looks like trying to get up to those highs from friday the nasdaq as the nasdaq continues to battle against the uh the bonds or interest rates and just looking at the weekly pivots you can see that transition where price action being below those pivots breaking out on friday you can see an example of kind of that double bottom formation rectangle broken resistance have a tendency of acting as new support you can even see uh some of the common patterns that we discuss uh in our technically speaking class a little later on today at 2 p.m eastern breakout and reversal patterns we can see in the sunday overnight with the small caps a smaller inverse head and shoulders that price broke out notice that weekly pivot acting as a neckline uh broke out came back and retested that right before the market open and we got a bounce broken resistance acting as new support so you know market seems to be taking whatever's happening in stride at least at the moment and still being supported to the upside uh going back since the lows on thursday okay uh with again you know looking at that high range from friday as being resistance that's gonna be the next test if prices are able to break hey ken thanks for sharing uh that's a link to the breakdown reversal class later on today and then looking at the mighty dow forward slash ym and notice in the case of the dow uh dow looks like it's been relatively stronger uh we're able to kind of deduce that a little bit by looking at the opening the day uh on the net changes notice that the uh futures uh on the uh dow are actually turning or attempting to turn positive and looking at this as well you know kind of dancing around that daily pivot weekly pivot a bit below and again trading up into that higher range from friday there as we did a a run through of some of those indices let's go ahead and apply some of the similar analysis but we utilize fibonacci tools on looking at some of these indices as well as some of the major asset classes so kind of like a big picture of you uh to kind of see you know what's happening in different areas of the market that can help develop a bias you know if you're in on your stock trading or stock investing side and then likewise on the trading side on possibly looking for trade setups on some of these instruments as well so let's go go ahead and do that on applying fibonacci some different asset classes and let's take a little break with this i'm gonna go ahead and maximize this we'll go to a daily chart and i'll maximize now let's take a break from the indices we'll we'll go back to them and you know let's look at uh an example the bonds forward slash zn is going to be the 10 year slash zn that's going to be the 10 year future now if you're not familiar with uh some of these all right there's a little off here on the thinkorswim platform you can click on the drop down menu and there is a tab for futures and you can see here as far as on the link here's all the futures that are available for quotes on the thinkorswim platform and those you can see quite a few different asset classes there along the line there you can also see information such as the minimum tick size on how it fluctuates what the leverage is for that tick and also what the required margin is uh for trading that future and with uh you know volatility historically being a bit higher and you know potential for larger moves one can see that a lot of these margins have increased quite a bit over the last year to take that into consideration another way of bringing up information more actionable by the way there's a here i am on twitter uh his uh go to uh td forward slash

futures uh i have that link also here go ahead and we'll paste that into the chat and for those you listen in the archive you can go ahead and that by the way there's my salutation that i've got to push out at the beginning of the session but there's a link for forward slash futures when you go to that page you don't even have to log in uh but at the very top to the far right you'll see a link that'll say available products available products there and if i go ahead and click on that you'll see available products and this is an important note because not all futures and particularly futures options are necessarily available for trading on td ameritrade a lot of that's due to liquidity but you can see right across the top different asset classes such as the stock indices some of them we've already had glanced over energy metals here we have treasury and interest rate futures i'll click on that and you can see the different uh maturities we'll focus on the 10-year note and you can see some of the shorter and longer duration as well i'm going to go ahead and bring up forward slash zn and we can see you know the overall you know trend of this being down uh one may go ahead and look at things from different time frames if we look at this from a longer term basis uh you know here here are bonds uh going back to 2018 you can see an overall bullish trend you can see that bonds have pulled back to areas that we haven't seen since uh the latter part of 2019 and traders or investors may go ahead and you know do some discretionary analysis on identifying some of those price levels there's previous resistance you can see how the bonds went ahead and broke out uh with kovid and the shutdown and you know if we didn't know anything about covid or you know a lot of those events uh we can see that bonds basically have retraced back to where they were before the question mark is you know are our bonds going to recover or are bonds going to continue falling which means that interest rates will continue to rise and uh you do have an indicator of t and x which represents the yield on the 10-year and you can see you know inversely yields are getting back to where we were back in 2020 and uh and there's speculation that uh yields will continue to rise as the government continues to spend more and more money uh even some talk about going back up to about three percent and we're just a little bit of a half halfway there uh for us to see where we were last time at around three percent and won't have to go back and look at a chart over a much more longer period actually it wasn't actually uh necessarily as long ago but we were at three percent back in october of 2018. that would be at least somewhat of a normalization of rates if we get back to that area even though one looks at it even longer uh interest rates uh have and higher at other periods you know in this case around four to six percent back in the 05s uh or the first half of the 2000s okay so at least we're potentially getting back in a range of where we were before particularly from that 2010 to 2018 period let's go ahead and go back on that chart forward slash cn now considering that futures do expire uh you know in this case on a quarterly basis this is more of a continuous contract which is looking at uh those futures and just basically connecting uh after uh each expiration or each rollover now if i want to go ahead and apply fibonacci well one i can already visualize that as far as this last swing up uh bond basically have retraced a good majority of this bullish swing post covet but if i want to measure that pullback uh we can go ahead and go to our drawing tools now uh if we were to go ahead and do that i'm going to click on the drawing tools up at the top draw tools are also accessible down on the bottom someone also said that if you have a mouse uh wheel you can click on the mouse wheel as i'm doing right here and also bring that up and i would love to give attribution i forgot to make note of who would mention that to me i do have a bunch of drawing tools sometimes uh i have uh different functions for different buttons there but at least the toss function is getting on your mouse wheel you can bring up those tools and we're bringing up the percentage well that's a fibonacci retracement right there as far as drawing fibonacci uh for retracements the application is as prices pull back in a trend you know question mark you know where are those potential support areas and you know you can see we discretionarily uh you know applied some support based off of a previous breakout but fibonacci basically takes ratios seem to occur in nature and apply them now on the draw we're basically going to isolate a a swing or a trend and as far as what period you look at a lot of it's going to be based off of what time frame you're focused on in this case this is a weekly chart so going back on looking at some of the larger moves over a weekly if i want to look at it daily i can go ahead and you know do the same thing and just change the period i'm going to focus on the longer term kind of work our way in and then i'm going to go ahead and draw from the low to the high now in fibonacci retracements you draw in the direction of the prevailing trend so going from a low to the high you can see some of these percentages appear on the screen such as about a quarter a third a half and two-thirds now notice on the 61.8 i actually made that in gold the golden ratio uh a lot of technicians may reference that as kind of a maker break point for the trend and so in this case based off of the run-up from the lows in early or late 19 to the highs in early 2020 notice we did break below that's 61.8 and those of you recall you know when did you know whether you call it the the temper tantrum the the bond tantrum or or concern about rates notice that has been a recent phenomenon on this weekly chart over the last several weeks so you know by breaking that 61.8

uh there was a little more momentum you know to the downside there on bonds which pushes those yields up now we're not significantly below that again we're kind of around that support so what technicians may be looking for as far as the support for bonds is if the price were to bounce and bonds were able to get back above that 61.8 that would potentially support the trend that's at around 132. uh now if we go ahead and you know look at even longer term and let's say if if rates were to continue rising meaning bonds may continue sliding back you know we can go back uh to more of the overall trend versus the last leg and this is going back to 2018 i'm going to go ahead and draw bibs on that again we're going to draw from the low to the high and as it stands right now we're still at a third retracement um here's the 50 and here's the 61.8

so there potentially could be some more downside for bonds if there are pressures for yields to go higher now i can probably apply the same thing on the yields as well so let's go to tnx which is really just the inverse these this is the yield on that 10-year future and we can say okay well what is a make or break for some of these yields well i'll go in i'll do the same thing i'm going to draw fib but notice that this prevailing trend is more down so now i'm going to take the fib and we're going to go ahead and draw from the one i can go ahead and do the same thing we did on the last uh evolution on the bonds and you can see kind of the make or break for yields which was right uh in this case you're a lot of talk about close to like one and a half in this case on the fib it was around 1.35 you have to carry the decimal here on these yields by the way and notice that was kind of a make or break over the shorter term as yields have continued to go higher let's uh go ahead and look to see from the standpoint of you know that three percent view which that would be a full retracement of yields going back to 2018. uh i'm going to go ahead and draw from the high down to the low and kind of look at the next potential leg as far as for those yields i'm going to remove a drawing there we're kind of approaching the 50 retracement which is at around 1.8 percent and notice the 61.8

uh is a little over two percent about 2.18 uh to be exact so this could be at the next tipping point uh for uh interest rates uh as uh you know if the economy heats up with the reopening basically recovering back to where we were in 2019 and then kind of more of the overheatedness maybe a break above that two percent level okay so yeah we're kind of viewing you know more of an uh a macro as far as on these bonds and uh that can have an impact on some of those equity prices go and look at some other areas uh go back on the platform you know energy a lot of discussion on energy let's go ahead and take a look at crude here we got forward slash cl and a lot of talk in the news as far as would trade as we still have the the large shipping container ship in the suez that's impacted trade as well as some of the prices now we're looking at a daily chart right now and you can kind of see how the news really has impacted back and forth as we see crude just vacillating back and forth up and down uh over the last few sessions it's still holding kind of more of a trending support as i have a 55 day moving average here now some investors or traders may speculate if we apply some of the pattern know-how that we teach in breakouts and reversals we can see those higher highs possibly transitioning to lower highs that would be an example of a head and shoulders top a break below that range could be more bearishness for crude let's go ahead and apply little fibs into the mix you know if we look at a more near-term you know we can go back and look at major swings uh in that trend uh a tool that i shared and utilized in a lot of my technical classes is the williams fractal for those you that may be fairly new the technical analysis trying to identify those highs and lows is go to the patterns tool on the platform uh go ahead and do select patterns and go to candlestick so pattern select patterns candlestick part of the candlestick patterns it's called williams fractal basically attempts to identify uh handle reversals which would be highs and lows in the trend and you can see these little carrot points here i'm looking for some of the major ones here so you know from a low here going up to the high i can go ahead and draw fibs from those two points let's go ahead and do that again we got the fibonacci tool selected we're going to draw from the low to the high and then you know this is where you know fibonacci coming into play here as far as these natural ratios there's that 61.8 and notice that 61.8 is holding so this is an example of a make or break based off of that previous trend that if price was to hold and get a bounce you know the trend is still intact prices break down below fib in this case it's just below the 58 level uh that could potentially point towards more downside a question was asked what moving averages i'm utilizing uh those of you that follow me on my uh breakout and reversals as well as swing trading certainly uh no or observed but here you go right here you can usually see it at the top of the chart we have a five period exponential a 13 period exponential and a 55. uh my selection in that as an example is uh very fond of fibonacci series and ratios and those numbers are part of fibonacci series example of about a weekly uh period last five trading days about half of the lunar cycle and 55 that's about a quarterly cycle there you go so notice confluence there with that 61.8

and why you know traders you know may be comfortable uh on you know taking a position you know off of that support and then if prices break below then potentially closing out so at least an attempt to hold some of those support areas now from a longer term standpoint you know that's just over the near term notice this was a three month deal daily if i go back even further you know and i actually communicated this on our affiliate uh td ameritrade network uh is that we have basically have traded back a bit of a skew here let's see what why it's not auto scaling for me here uh but this is going back to 2020 uh early 2020 we had a range between 50 to around 65. uh now those crude prices have pushed our way up kind of back into that range we actually got a bit above that appeared on why my charts are acting up a little bit here the auto scale in there uh we had briefly gotten above that 65 range but looks like we're still trying to stay in somewhere in the mid 50s to the mid 60s that trend is still relatively holding the kind of bearish case for crude uh would be if the prices were to break down you know below this trend all right so we've looked at uh bonds uh we've looked at crude let's go and look at gold gold's been kind of disappointing for a lot of gold bugs as a lot of speculation that uh bitcoin uh may be the new uh gold if i take a look at ford slash btc there's the futures for bitcoin and we can see bitcoin is up eight percent you know they made a high of about sixty one 000 last month actually earlier uh this month being up eight percent if we look at forward slash gc for gold uh it is down uh one point six three percent uh so not a lot of correlation going there uh with uh gold versus bitcoin uh although bitchin to see if that actually changes some of these things could be a little cyclical here now looking at gold gold still off from their highs from the summer trending down as you can see this gold line here that's another fibonacci draw if i go back and remove this draw fibonacci again from the lows to the highs goal to kind of hit that make or break point recently as we traded just below that 1700 level uh technicians may look for you know that candle reversal or that bounce kind of the hold which we did earlier this month but price is pulling back it certainly has not been a strong bounce or more importantly a bullish reversal of this current trend um you know with some of the talk on moving averages you know some traders may look for a moving average crossover to confirm a bearish a bullish reversal as well as looking at previous trends in this case the downside almost broke the trend as far as price earlier this month we may be breaking that trend based off of time if this price continues to form a base and you know this could be you know part of the inflationary story as well that would be expected that gold would rise at some point uh if uh inflation heats up uh you know will it be totally replaced by things such as bitcoin all right so that's what we got going on with gold uh you know another uh since we're looking at metals uh forward slash si is for silver now silver uh is also used commercially maybe more commercially than gold um so one can see a little bit of a different story uh if we uh go ahead and go ahead and adjust this here if we go ahead and identify some fibs here now silver's been in more of a sideways range and zoom in a bit here we can go ahead and identify some of those price levels for that range that you can kind of see some of the upper and lower boundaries now those those were some horizontal lines uh another drawing would be a price channel which are the parallel lines and typically you may have a a midline that may come in and wouldn't be surprised the silver probably trading close to that midpoint as far as applying fibonacci to a range bound uh probably not as practical if i was and make that draw in this case drawn from a low to a high looking to see the bounce and you know potentially bullish move on silver notice how silver had been trying to stay in that upper channel around that 61.8 retracement not looking good today as the price was attempting to bounce but from a bullish case is looking to see if prices are able to bounce and get back above that area then we may be seeing a similar pop in formation as we were looking at some other areas of the market and a breakdown below that area that range to be significant of that all right so we went ahead and we looked at the bonds we looked at energy we looked at some of the metals agriculture food you know being in the military there are a lot of things that cause unrest uh but a lot of it starts around food um and uh food prices uh have been going up and a lot of these commodities have been going up as well so let's take a look at that uh forward slash uh zs for the um soybean futures and you can already get an idea of how a lot of these were on a downtrend you know soybeans a lot of tied to that china trade those that formed more of the base and we broke out uh basically around the second half of uh 2020 and overall bullish reversal now if i go ahead and take a look at this from a much more longer term let's see how far out we can go here so going back to highs back in 2012 which i believe is current trend going from the high to the low you can see that uh even though a tremendous run still may be a question mark as far as longer term as we're kind of at that make or break point that's 61.8 kind of hanging around that area so again a an inflationary story uh is that you know as yields go up you know economy's heating it's probably driven by overall prices and raw materials and looking for these things to rise but for as we start off this week uh notice satellite commodities are actually down the next leg is looking for that breakout uh to the upside and do the same thing with corn dc now corn is another component it also goes in in people's tanks with ethanol and you know looking back uh into 2012 going from the high down to low so when you hear you know investors or speculators talk about commodities going into a new super cycle uh we're actually not quite there yet based off of the technicals uh even having fully reversed some of these bearish trends in commodities even looking at corn basically had a 50 percent uh retracement of the overall going back to 2013. yes we have broken multi-year

highs but as far as a super cycle uh that may not end up being more discussion in this case on corn it's able to break well above the 600 is closer to 620. i hope you find this helpful folks as we go through these different asset classes and get an idea of you know overall trends uh likewise you know what areas have been coming into favor and we've seen a lot of moves in the commodities front but we can also see you know there are some resistance areas that potentially need to break uh you can apply fibonacci to any instrument apply it to stocks as well as we have done and some of my other classes and let's finish off by looking at uh let's see [Music] you know on the currency side uh we'll go ahead and we'll take a look at the euro which is going to be forward slash 6e a lot of talk about the the dollar being relatively weaker overall and you know here's the trend of the euro which means if this is rising that means that that currency is stronger uh in this case the euro if it's falling it means the other currency is in stronger in this case the dollar and even though the dollar you know may have been overall relatively weaker compared to a basket of currencies uh forward slash dx i believe is the dollar index uh notice that the dollar actually has been uh for 2021 overall strengthening up and you know that can go for a few reasons one with higher interest rates it points towards a stronger economy stronger economy stronger dollar uh it can also be based off of weakness of other areas uh and different asset classes uh such as commodities and things like that um let's go ahead and bring up 6e one more time and uh you know if i was look at this leg up here this last leg up on uh the euro again i'm going to draw from the low to the high you can see we did break below that 61.8 which gives more weight for the dollar uh to be stronger at least over the nearer term i look at this much more on more longer term you know there's a 10-year chart you can see currencies you know not necessarily strong trends across the board when one looks at it you know overall uh you know for instance john i can deduce that uh when i was in normandy in 2019 uh i was getting a little more for my dollar uh back here i think closer to about a buck 15 on the exchange rate whereas now you know not so much but you know basically we're getting back to areas that we have seen back in 2019 but from a much more longer standpoint you'll notice that the dollar has weakened compared to the euro as the euro did break above of a longer downward trend and on measuring that how far back we can go on as far as more of an overall cycle that reversal as far as the euro being stronger than dollar would probably be more contested if the euro is able to get back above about a buck and a quarter all right i would encourage you to go ahead and practice the same thing maybe on some of the different indices now we really haven't spent as much time on the indices because there hasn't been a significant retracement uh to account for here but there were some recent ones here uh if i go ahead and look at the uh the s p futures as an example both from a bullish one drawn from the low to the high as far as traders looking to buy the dip notice here on the daily chart around that 55 average that 50 retracement still good support for the trend didn't even come down to the 61.8 good bounce off that 50 retracement uh when prices were pulling back over a shorter term and some traders uh may look at smaller periods such as an hourly chart i'm going to go ahead and bring up an hourly chart and we'll wrap things up go to intra-day bring up a 20-day 60-minute chart okay when one goes ahead and takes a look at some of these moves so here's the s p futures and here is more that downward move i can do the same thing draw from the high down to the low and notice here even on the hourly chart you know acting as resistance around that 61.8

supporting the downward trend uh notice from friday we saw a breakout and a reversal above that 61.8 now it happened very quickly over the course of an hour just a melt up and uh buying going in the end of the day and as we finish off our session folks we're basically just inside that range from the overnight so not sure what the catalyst is the move prices but this is where we're at as we finish off our session on trading futures hopefully you enjoyed what you learned here today and uh final point uh someone asked for a little i i always hate to skip out without showing a a a tip or a trick uh one was making reference that notice when i went ahead and selected a drawing pull tool and how it snapped to that higher that low that's part of your chart settings if you come here to the top where you see the gear we'll click on the gear uh since this is part of i believe the general tab right here on the general snap drawings to i've selected ohlc for open high low close i don't know why it just doesn't make that a a default very helpful but there you go you can go ahead and select that click apply and okay and there we go alright so once again folks hopefully you enjoyed what you learned here today i would encourage you to practice what you learn on utilizing fibonaccis a lot of chartists utilize it in that technical analysis and kind of confirm some of those areas of support and resistance so you've been able to pick up on some of that today uh coming up next is going to be getting started with technical analysis i believe connie hill is going to be covering for cami uh uh uh cameron may and remember in order to demonstrate the functionality platform we did have to use actual symbols keeping in mind td ameritrade does not make recommendations or determinability of any security or strategy for individual traders any investment decision you make in your self-directed account is solely your responsibility have a wonderful day folks we'll see you again soon bye now you

2021-04-04 15:58

Show Video

Other news