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Welcome back folks.

We're doing a price action review and key level session, January 9th, 2017.

Okay.

We're looking at the dollar index.

It's a daily chart and I have a few areas of notation that need to be

watched throughout the rest of this week.

Uh, we had a gap here last week as a result of the new year opening

and it can see that one candle up close another candle gap.

What's up close.

So price was deliberate on the upside.

Through here.

This is high

comes in at one or 2 52 in this candles.

Comes in at 1 0 2 95.

And that's what these levels are delineating essentially.

So in between these two candles, this candle is low and this candle high prices

gap through between the two candles.

This is closed and this candles opening.

It treated down a little bit here, but essentially there's

a gap in the price delivery.

So we had to encapsulate this range between this candles close in this

candles, opening between the two candles and here, because price has gap up

through this absence of liquidity.

That's even though it's been traded higher, that gap has offered by south

liquidity up to this point here, but there's a gap in between two candles.

So while the next candle traded lower, this was sell side delivery.

Came all the way down, hit the mean threshold or the bullshitter block here.

We did see a reaction there.

This week's open relatively unchanged, small little retracement in here.

I do suspect we'll probably want to see that range in here

closed in with buy-side delivery.

So while we have passed through, on this candle and the downside, there's no.

Green candle or movement up between these two price points after

this range has closed through it.

So it probably going to see that happen this week.

Um, I'm not sure if we're going to continue through on the outside

through this week, but if we do make them pass through 100, 3 81 where

we're looking for 100, 4, 104 50, and then making a run for 1 0 5.

If we lose the low in here, um, that's going to suggest that this

gap is actually a breakaway gap and it may remain open for awhile.

And we'll look for liquidity run below this low here and below the

bodies of the candles down here, $4.

So it's, it's still, it's still a little bit too early, um,

very new year in trading so far.

Let's let sentiment build a little bit more next week.

We'll have a better understanding of what may fall for the rest of this month.

Okay.

We're looking at the Euro dollar.

Now.

It's a daily.

Yeah, I've got two areas as well.

I want you to take a look at, uh, on the upside.

We have this up candle and price had treated down away from it.

Came back up to this level here left.

This candle is low to this.

Candle is high.

No buy-side delivery has been offered since we moved down away from here.

So I suspect we're probably going to be wanting to reach up

into that buy side liquidity.

Looking to fill in at 1 0 7 13 level.

Uh, the low end of that range starts at one or 6 73 on the downside.

We have a level to watch in here, basically opposite when we, this is closed

for the dollar index and we had the.

And here price delivery on a downside.

No liquidity offered here.

One pass through on buy-side delivery, looking for a black or down candle

movement into this low 1 0 4 48.

It doesn't have to do that.

If we continue to run, this makes this a breakaway.

And we'll probably look to see a much further rally on your

dollar if that's the case.

And again, in retrospect to the, your Euro rallying and the dollar being

contrary to what you see in processor for your dollar, the dollar index

would probably move significantly lower than just below these lows in here.

But it's too early to tell them, we'll see what we see the rest of this.

Pound dollar a cable is a daily chart, and I got a couple of points in here.

I want to draw your attention to as well.

Uh, we have price moving below the October 28th, 2016.

Open.

Let me show you what that looks like, why I drew attention to it.

The bodies of the candles.

Okay.

While we worked through it, the body is where we begin our rejection block.

So anything below this, these candles bodies at 1 21 60, a

rejection block begins below that.

So in other words, we're looking for a pass through and a

potential turtle soup scenario.

So far intraday, which we're not going to look at because this month we're

focusing on hard timeframe charts.

We've seen a small little rejection.

And price here once making a pass below 2160 price has moved below

the buyers of the candles in here, running out the south side, liquidity,

all sales stops are now gone.

We rejected off of this bullish candle here, which is a bear shorter block.

Uh, we were looking for a potential move above this area here for by stops

to run the liquidity out at 1 24 19.

Eight to 1 24 big figure bullshit candle here, which is a bear sorter block.

Stopped it dead in its tracks and has moved lower as a result.

That is also the price action on pound dollar, the strong rejection

off this bare shoulder block and here making a run on the lows, this

downside movement on pound dollar in relationship to the Euro dollar that we

didn't see any of that downside move.

Yeah.

So that's going to be bullish for Euro pound, which we're not going to

look at it in here, but we've stopped.

We will start adding Euro pound on the chart reviews for

notation syndrome purposes.

But the fact that we were able to maintain price action here in the consolidation, it

looks like we probably going to make a run up into debt buy-side area or liquidity

gap or fair value gap, dollar cat pair.

We have maintained a small little consolidate.

Nothing, uh, on the downside or upside, I still think we're gonna probably

make a pop down into that 31 25 area.

Make it run below these cancers.

Body.

And then we'll probably see a little bit of a bouncing, or maybe I'm

not suggesting it's going to be significant enough to go in here

and at the farm, but we'll probably look for a little bit of pop there.

Now, if we trade back up, we're looking for this level here at 1 33 60 to

1 3, 365 for short-term resistance.

This is a mitigation block, the last down calibrate for the up move.

Anything that was bought here, throwing the water.

So they may want to come back up here first.

So this level is the target.

Even if we trade back up here, if we start to sell off 1 30, 1 25, the next

downside of detector for dollar CAD,

all the dollar, uh, we were watching and have been watching that 73 80 level.

Um, so far we're almost there today.

Uh, we got as high as 73, 74.

So about six pips away, uh, fell short of it, but it's these candles here, the

body's the lowest of the body, not looking at the fact that this is the can, I'm

looking at the lower of the two bodies.

That's what I referenced there.

And we'll see if there's any little bit of resistance offered at that price point.

If we start to sell off, uh, we will be watching this level down here, 72

34, 4 potential by, uh, continuation.

We will look forward this down candle here to then see, cause a potential buying

opportunity that would come in the form of a 73 35 to 73 40 again, but it would

have to pass through that 73 80 level.

And it comes back down.

If we can get a retest back to that level at that.

That could be a potential buyer, but if that one gives way, should we pass

through 73 80, all eyes are on that 72 35 to 72 40 level as the next significant

Larry area to look for support.

That's it for now, children, I'm going to escape and I will

get with you tomorrow morning.

We have a live session at 10:00 AM, New York time.

Uh, it's about 30 minute long in duration.

It will be recorded for those that can't be a part of it.

And I will get back with you then about the remaining.

Uh, scheduled for all of the teachings that go forward

for January till next time.

Good luck and good trading.