In this video, Paul Wett will give us an update about the trends and will discuss the support and resistance levels this week.
Are we going to hit the 2030 area this week? Watch this Midweek Report video for week ending 03/11/2016 for further details and to see how powerful Wett Trader is.
This is Paul Wett with www.WettTraderLLC.com with your midweek report. I was trying to hold off folks, I wanted to see if we’re gonna bust out of this range that we have going on right now.
Like I said in the beginning of the week, we’re gonna have some support in a couple of areas. One of the areas were gonna have support on at is gonna be right here, my weekly PP. So we tried to pound the high, a five week high, we don’t have time yet. This is a 90% probability that we’re gonna fall in one of my time patterns. So what I’m looking for is I’m just looking for this bar to continue to rally. Now you can see the low of the week has been 1976, we plus or minus a point and a half. So this is gonna offer us some support, we wanna look for opportunities to buy on the shorter term charts.
Now here, we got the, the 60 minute had a nice buy right here. Beautiful, beautiful, this is a key reversal up, buy the PP in the key reversal as well, this thing offered so many opportunities. Now this thing looks like we’re gonna be hammering out the bottom again because in my opinion, oh wow this is beautiful, this is like a head and shoulder bottom. I’m gonna draw this out real quick folks, I just noticed it myself. Got two shoulders here, we got a bottom here, we got two shoulders here, so when we test back here, we’re gonna go one, two, three, four boxes, one, two, three, four, boxes; take out this high 2010. Now where’s our probability for this market to offer some resistance? we’re right this range here folks, I told you, this 74 was gonna be tough, I was right on this 18 week moving average. 18 week moving average. I still think that this is our double bottom and I still think that what this double bottom, we should be going up here. Now I don’t know if we’re going to get there today or tomorrow, but I think we’re gonna get there folks.
60 minute had a sweet buy, these are the types you like. Like I said, with WettTraderLLC.com you don’t have to do any work, just click, look, and see. My weekly PP is 74, we held it, next what do we want to do? We want to buy every opportunity. Like to buy on average everyday and ride it to where I think the probability is gonna be for the next range. Now, this obviously looks like a breakout, obviously looks like a breakout. We plus or minus three points here on the close and the PP from yesterday on the daily. So we have a high probability on breaking out here or here. So we’re actually going to the top here already so we’re really close to R2.
This is what I’m telling you folks, this is why I love WettTraderLLC.com we could go 2020 – 2030 by the end of the week. Could go to 2030, that’s a nice target, nice target – 2030 folks! So continue to watch the videos, use the software, use the demo, it’s free for two weeks, you’ll make a wheelbarrow full of $100 bills at www.WettTraderLLC.com thank you.
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