Original subtitles

Good afternoon folks.

Welcome back.

This is a daily review for Monday, February 6th, 2017, because of the

action we solve for dollar index.

Uh, we seen price stay inside of the range defined by 100 point 30 and 99 50 level.

I saw a little bit of an upside again, noticing all the wicks in here, not

having any continuation on the upside.

So it'll be interesting to see if we see some soft.

Tomorrow dollar still looking for that sell side liquidity

down here at a 98 90 level.

So nothing's changed in that regard.

We have to punch up into this buy-side liquidity to change gears

on dollar until that happens.

We're still looking for this level down here,

Euro dollar, uh, we saw price get back a little bit again, took out.

Yes.

Uh, last Friday's low and price has to stay above this level of.

For the balls.

Otherwise we're looking for them run down to the sell side, liquidity below here.

And the buy-side liquidity still remains as an upside objective at 1 0

8 70 to 1 0 8 80 institutional level.

I've got a question in regards to what are we looking at?

When we look at the, the range is 20 days back, 40 days back and 60 days

back, the first thing you want to look at, where are we at in 20 days?

Okay.

We have this little area down here where stops will be residing.

We blow the bodies of the candles in the form of a rejection block.

Price has not come down to that.

Okay.

And we're looking for clues as to what side of the

marketplace they're reaching for.

We're winding up for another price line.

I don't know if it's going to you rebel from here and go higher.

I would like to see it, do that because that's what we're looking

for in terms of barest dollar.

But if we lose this level here, we immediately go back to

this level here looking for a breakdown to potentially this low.

So that would give us a near-term objective in the 40 day.

Look back.

These same levels still are the most recent areas at which sell

side liquidity or sell stocks.

We don't have any voids in the 20 and 40 day, and we don't have any

bullets or blocks to be considered.

Cause we've already treated into this one here at this level, and

we've already seen price react here.

And we're also working basically the mean threshold of this one here.

We whipped through it today, but then gave back.

So I'm hoping that we'll see some rejection and go higher and

reach for the buy-side liquidity.

Mother's candle's high.

And in 60 days, same thing, the stocks would be below these loads down here.

And again, About here.

So all we're doing is looking at where the liquidity would

be for the last 20, 40, and 60.

And by shading, the areas like this, it keeps your focus on the most recent

one that we, the content contend with.

And then the next one out intermediate term and longer term for the 60 day.

Look back period.

Uh, we saw a tree down to the bodies of these candles here, right to the PIP.

We saw the market trade down to its closing price here 1 24 24, which is what

we have noted price came down and hit that to the PIP, whether it's low of 1

24, 24 rejected their sell side, liquidity rests just below these equal wicks.

Uh, so it's, it'll be interesting to see what we do here.

Um, it may stay in a consolidation and allow.

Euro dollar the rally, or if we lose this here, we have to go back and start looking

at these bodies here for the cell stops.

And then on the downside from that level, um, it could WIC down through

here and then reject and go higher.

That's another scenario that we had to watch.

So that had to be monitored on an intraday basis, which is kind of like outside

the scope of this month's discussion.

But nonetheless, um, if we do see upside resuming, we're looking

for the buy-side liquidity resting about these candles bodies up here.

Dollar CAD.

We saw a price rally all the up into the candles close here is at 1 30, 1 36.

And today's high come in at 1 30, 1 36, exactly.

Where we had mapped out.

You can see that's the case here.

It went right to it, to the PIP.

You see it traded right to it.

Let me zoom in a little bit for you.

Right.

Here's the high trades rate two at 1 30, 1 36, and this candles close

1 30, 1 36 or eight to the PIP.

So we, uh, we didn't get above it.

We went right to this level, but we come back off that level a little bit.

So it'll be interesting to see as well, like tomorrow, what we see for the dollar.

I'd like to see this one.

Uh, Reject here and trade down and turn into like a doji of some sort, not to

that trade to doji pattern about like to see it just completely turned into

a wick and go down here and punch this, uh, 29 35 level, if we do not get that.

And if it was all we were doing was coming down below these equal lows, as

we indicated last week, uh, we will be looking for price to treat all up into

this candles opening, which is 1 30, 2 63.

And again, that would be an.

Line with a reversal of sorts for the dollar index and the higher prices for it.

Aussie dollar prices moved a little bit lower off of this high in here.

I still think we're going to punch up and grab the liquidity

above that 77 45 to 77 60 level.

I think it's possibly going to be reaching for it could be a 77 80.

So we'll see what, uh, what this pair wants to do, uh, on the downside.

I think we'll find some support and.

75 91.

So at that level,

we'll have that level noted as well.

And we'll take this one off.

So that's the downside, a support level we would expect to see also

lines up with two down counselor, which would be a ball shorter blocks.

So it could cook, could trade down to that 75 90 level and then resume higher.

Longer-term I'm going to weekly basis.

Uh, it does have some by stops a little bit higher than where we're at.

Euro pound, uh, still stuck in the range.

I think that we'll probably see a punch up into clearing out these

bodies and run that liquidity out.

Uh, we came down into this down candles.

High comes in at 85, 94, and a low today came in at 85 92.

So it went to pips below into this down candle and showed

a little bit of rejection.

So it might be favorable for another.

Press hire.

Um, we'll see.

I like the idea of this little gap in here filling, cause we only had an

exhaustion gap up and traded lower.

So we would be looking for price.

Don't want to trade back into this and we had this weeks ago, but it just

simply never came back to this area yet.

So we're going to have it now added back into our charts.

So we might come up in that area here and fill that in a little bit and ongoing.

Gold has just recently, as we're at the time of this recording has

traded into the area we called for a couple of weeks ago for a gold bowls,

1230 to 50 being this candles high right here, and an aloneness candle

here, 1 12 40, that was framing the.

Fair value gap in here where we expect to see price, to be balanced

out and deliver price on the upside.

So we're looking for 1240, still as a upside objective for gold, a nice

little rally for that silver we're looking for 1800 X marks the spot.

Basically, we're looking for upside objectives there.

And that's it for, uh, today's markets.

The, uh, tomorrow session will be at 9:30 AM.

It will be about a 45 minute presentation.

It's going to be on the Kiwi dollar, uh, homework assignment.

I gave you in one of the lessons.

So we're going to be specifically dealing with that.

Began promptly at 9:30 AM.

Usually I wait a couple minutes, but I'm going to get done tomorrow.

I have an appointment to meet someone at 11 o'clock, so I'm

gonna make sure I get done.

So be aware of that and I will greet you all then tomorrow.

Uh, tomorrow's live session recording is underneath this link

and you can subscribe and re uh, register that session for tomorrow.

Again at 9:30 AM Eastern standard time, about 45 minutes duration until then

I wish you good luck and good trading.