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Good afternoon folks.
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This is ICT with a daily market
recap for September 7th, 2016.
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Or we had a, the dollar index.
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We had mapped out a range in which
the void on this big rundown, uh, may
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have, uh, one of the close into it.
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It only came up and hit that.
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The bottom of it.
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You notice the bottom of this range that
we identified, which is the void here,
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but this little piece of candlewick, this
section is already been traded to twice.
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So we're defining the void or unfilled
range by the top of that candle.
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And we're just extending that out in time.
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The buys are respecting that as well.
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Um, Valley's been in a consolidation
all day, uh, today basically
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it hasn't really moved much.
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So, um, that's.
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Men a curse and a blessing for some
pears, depending upon how you look at it.
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The highlight is the U S CAD today,
but we're going to go quickly
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over to the Euro dollar a year.
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A dollar is stuck in a range as well.
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Uh, which means that, uh, it's probably
being held in place for Europeans.
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And we'll quickly jump over
here and take a look at that.
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Uh, we've identified this entire
day during the sessions that, uh,
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we have a liquidity pool above
here, aiming probably for 84 50.
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Uh, that's most likely what
we're probably going to see range
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expansion to the upside, to run into.
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Um, if you're a dollar, isn't
a consolidation as we're seeing
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here, that means it'll probably be
released after your account gets
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its objective at the 84 50 level.
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And if you're a pounds rallying
with consolidation seen in
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Euro dollar, that means we're
going to see weakness in pound.
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And that's what we're looking for today.
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Uh, after some of the New York session
had traded a little bit, um, I was hoping
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it would give me a buy signal on here.
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I wanted to see, uh, uh, bounce
off the bull bull shorter block
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here after the void was closed.
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With this range dropping down.
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Uh, it didn't do that when choppy and
I asked, um, well, they didn't ask,
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but I stated that I would like to
see this, uh, formation stay intact.
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And that way we'd set up a nice bicycle
for tomorrow's London session or
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potentially tomorrow's New York session.
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But as you see, it broke down,
uh, we had this 1 33 45 level,
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um, identified intraday.
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Before the drop down, I was
suggesting the market would probably
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sweep below these lows in here.
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It did that and ultimately went
down below this swing low as well.
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Um, there's a lot of
stops resting below here.
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So given what we've seen thus
far, four pounds, Um, as much as
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I don't want to be a short seller.
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And I said this today, um, I don't
want to be a seller of pound today,
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but I'm probably gonna have to switch
gears and be willing to do that.
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If I'm going to be trying to
capture anything below these loads,
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because it's a big, huge liquidity.
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Of stops resting below there.
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Okay.
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It's just way too clean.
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If it's come all the way down
this far, it's not likely it's
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going to leave this on probed.
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So we will be looking for a
further weakness in the pound
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dollar and potentially more
consolidation for European.
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And that would again, give the
green light for the market to
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run up here on the European.
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But we'll see the highlight of
the day was our us CAD call.
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Uh, we were looking for a turtle
soup to come below these lows here.
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Uh, we mapped this out, uh, intraday.
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You can see that on the live sessions.
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Um, the recordings are just above
the one you just clicked on for this.
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The market did in fact run
up on the rate decision.
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And again, real quick, I don't ask
what the, uh, the data is, right.
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Just know that there's going
to be high impact news event.
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And I know there's probably
going to be around liquidity.
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We talked about the range in here.
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This void being closed in and potentially
trading up to 1 29, 14 was the level, but
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I called them 1 29, 15 as the objective.
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And today's high come in at 1 29 18.
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So I'm a little off by three pips, so
it's not too bad, but nonetheless, uh,
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it did behave as we were expecting.
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Uh, stop still exist above these
equal highs and informed by stops.
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We do also have a swing high
here to contend with, but
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there's going to run that.
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It's going to run these.
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Uh, by stops as well.
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And that may be what we see tomorrow
or going into London for tonight.
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Uh, that's it for today.
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Hope you enjoyed the live session
and if you weren't there hope you
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enjoyed the recorded sessions.
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Uh we're back at it again.
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Uh, given market conditions.
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We'll, we'll check one more time
tonight in my local time at 1:00
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AM in New York time to see if
there's anything set up for London.
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If it's not, I'll let you know,
and we'll be back at it again
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in New York session until then.
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Good luck.
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Good trading.
7784
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