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

Chart Chat

Today, I substituted a CCI histogram for the MACD histogram while keeping the MACD lines.  There are many ways to trade successfully.  The main meters for determining successful trading are: 1) are you making money?  And, 2) are you in your comfort zone?  Today’s EUR/USD had a well-formed HI-LO-HI.  The ES had four points based on the long-term parabolic: HI-LO-HI-LOs.

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