Original subtitles

Well folks, welcome to a new week of Forex trading.

Today's date is November 6th, 2016.

Okay.

We have the dollar index on the left-hand side and we just came.

Really close to the order block right here.

The opening that we talked about last week, the high it comes in at 97 18.

The open comes at 96, 88, and then we had 96, 88 noted as a potential

low for next before last week.

And the low come in at 96 90.

So we're only two pips off of that, off of our bear's expectation on price up

here, off this bear shorter block, uh, so far for the week, we've already seen

it opened up in Amelie trade higher.

Uh, we're gonna probably look to see some of this range in

here closed in, be mindful of.

This candle here is down candle.

Um, more specifically, I'm not, I like the idea of this candle.

So let's note that.

So on the upside we have a 70 97 76, and if we change directions and go

below the middle of this down candle.

Uh, we'll be looking for a little bit lower price action.

Now here's the caveat.

We have the presidential elections coming up on the, on Tuesday of this week.

So with that, there's a great deal of uncertainty.

And while that will be probably exciting for some of you to want to

get it here and probably try to trade some of the volatility that may occur.

Uh, it's my.

Thinking that, uh, it's probably be better than sit on your hands and just wait.

And then it's not what most of you want to do as an, as a trader.

You want to get in your trade, the, uh, the movement, but it's going to be a

lot of knee jerk reaction potentially.

So I'm going to be sitting on my hands, um, Monday and Tuesday as a

result of that, uh, is this too many?

Up in the air about the U S presidency.

So I'm going to be really focusing in and listening about what, uh,

what we end up with as a president.

So, uh, this keep our cards close to the vest, as they say, keep your powder dry.

Uh, don't be in a rush to take any countries this week, at least for the

first half of the week, when we're looking, uh, about Wednesday, uh, New

York session, uh, Thursdays treat.

Uh, possibly for a next opportunity to take some live trades, the Euro, uh, we

had outside objective for, uh, 1 11 45.

I rounded up to the last nearest to buy level or the actual

open comes in at 1 11 44.

Again, last week.

I came just two pips away from objective.

It fell just short of it.

High coming in at 1 11 43, we were looking for 1 11 45, but the opening

price was at 1 11 44 and we saw price obviously in gap down on this week.

Uh, we have a lot of range in here to close a big, big gap.

This is the reason why I tell you last week.

Uh, you have to be careful because we have the election coming up

and you're going to be potentially a lot of whipsaw price action.

And we're seeing it obviously already at the beginning of the

week, we may see price, want to come down here and close in this void.

Um, if we change gears in closing a little bit of the gap of a higher than

what it's already done, um, I just don't know if we're going to do it this week,

or if we're going to press it on through.

I liked the fact that we have found support down here.

We basically closed in this range so we could consolidate in here, which

would be welcomed and then maybe run it for the one 12 big figure.

On the other side of the U S elections

pound dollar.

We saw another gap opening down here, a pretty significant gap.

This pair did.

In fact, a trade up last Friday, like we were expecting it to, uh, I don't

suspect we're going to probably lose all the ground that the pound dollars posted.

Uh, we still have a little bit more upside objective.

Uh, 1, 1 27, a big figure.

Two, one, well, 1 26 80 is next institutional level just below.

The last off candle, which is the bare shorter block.

We would look for 1 27 big figure and 1 27 30.

And if we get through this, we would have to contend with the

level up here, 1 28, 75 to 1 28 80.

And cat finally gave up the ghost.

Uh, we were expecting some bearishness in here.

It had to go one more time driving up.

Uh, we explained how this was, uh, SWAT stop sweeps it's above, uh, an old

high and ultimately gapped down there.

Here's the, here's the.

The lack of symmetry that I talk about.

We have the U S CAD, nothing about the name of the other pair period

begins at the U S dollar and then Kat, it got down extremely lower.

Okay.

So if that's the case, we see that, but we don't see it so much with the dollar.

The dollar index is obviously showing us strength rate from the beginning, opening

and rallying hard, right from this.

Why is the us CAD gapping down like that when you, it should be screaming higher.

So that's, that's the reason why I'm sitting on my hands and not being that

active because the market's not showing me a very symmetrical on marketplace, even

though we're seeing the Euro and pounds.

Moving in the direction you would expect relative to the daily chart

on the dollar, just being a mirror image and the words as the dollar was

moving lower, we saw the Euro moving higher and the pound moving higher.

Um, the dollar CAD was.

Performing as it was, as it should have been onwards, in my opinion, a, this

thing should have been trading lower all last week, but it wasn't dealing.

It was trying to whip above that a 1 34 big figure or 1 34 mid figure.

And we've obviously seen it give up the ghost today.

Now, whether it stays where it bearish, that will be a while to

see trading through this week.

But for now, uh, I'm still looking for, um, some weakness on this particular.

Uh, maybe down into the 33 big figure and 32 80, um, relative to

the daily chart here in looking at the bodies of the candles over here

and the body of this candle here.

So watch those levels as well, going into this week.

Again, I can't stress it enough to sit on your hands and try not

to be in a rush, to get a trade.

Anything can happen in the marketplace.

And these are the types of scenarios where they could manipulate the.

And create a really adverse trading condition.

So, um, w from the jump this week, we're looking for 97, 75,

97, 80 as a potential upside.

If we see expansive continuation and anything lower, we're looking for a run

to closed in this range here about the 95.

80 level to 96 big figure.

And that area is downtown objectives.

That's all I got for this week going in.

I wanted to wait and see what we opened up at.

So I appreciate your patience until I see you again.

And I'll be in prerecorded session on Monday, but for

good luck and good trading.