Original subtitles

Welcome back folks.

This is a review for February 7th, 2017.

Okay.

This is the dollar index.

We had a move above the buy-side liquidity.

The body of these candles in here came up WIC through it and came all

the way back down below the bearish quarter block or last up candle.

Right?

First download I'll move in here.

Overall.

We've maintained lower highs and lower lows here.

So even though we had this little bit of a move, we did run some liquidity out until

we get back above today's intraday high.

Looking for this 98 90 level.

And there's some of you probably think, well, wait a minute, we've

already tried to see it go up here.

It went hard today, Michael, it has not closed above a level of

resistance as we would outline it here.

So even though this is a raid, we don't see that as a turn on

the market yet we're looking for a breakdown on the dollar index.

Or if we get back above this level here in close, Especially if we make

a new hire high in here, that to me would indicate that we have probably

turned the corner until that occurs.

We're still looking for mark breakdown.

This could just still be larger consolidation going sideways.

It doesn't make it a turning point to go higher.

It just means that we're pausing and not going lower at the moment.

So again, my, my focus is still on the sell side of the marketplace.

Euro dollar.

Uh, we did come down below again, this same level here.

We worked through it with, through it and went through it one more time.

So I'm gonna move this out of my way a little bit, and I'm keep the

delineation here on a closing basis.

We have to stay above this level.

Um, to me, if we came down below this level today with any meaningful, uh,

I would've expected it to trade below this below the bodies of these candles

in here that isn't apparent here, but we're going to adjust our PDAs.

You see how relatively painless this can be for you once you get good.

And just adjust every day.

He is keep moving it forward and that you have your last 60,

40, and 20 days to look back.

And that when you're looking for all of the PDA above and

below market price, Okay.

So right now, Southside liquidity is resting below here.

Buy-side liquidity is resting above this high back here and above these

candles in here, the bodies that we have a small little liquidity pool resting

in the form of rejection block there.

So we're still treading water sideways, just like we're looking

at the dollar index, just reversed.

So again, as long as we stay above this level here on a closing.

We're still looking for upside on the Euro dollar.

What changes it?

If we trade down below this here, and then we'll have to succumb to, uh, the

market internals suggesting that maybe we'll be either looking to trade down

below the bodies of these candles here or in a more long term consolidation.

Pound dollar.

Uh, let's like we, with the Euro, we trade down below the equal lows.

We've watched several days now and traded down through it and

then look at the rejection.

Really nice rejection.

So while we did take the sell side liquidity out, we did come back

above and now it'd be interesting to see if we resume higher.

I do believe that's what we're looking to see.

I don't like this as a bearish order block idea.

Like I don't see it coming up here and seeing as a sell off.

I think that we're going to probably try to press higher in here and

make a run for these candles.

Now, what changes this again?

As if we go down below the mean threshold of this candle here, which essentially

what we did today, we reached into it.

Didn't violate it.

And we found, uh, a Raleigh of buying came in and got the pound

dollar back above our level.

We were watching here.

So pretty wild spike through came back up.

Now we're looking at a positive close when the day we'll be watching to see

if the pound dollar doesn't factor.

Nico a showing on the strong side, reaching up to that 27

30 for the rest of this week.

If it doesn't do that, we could still see consolidation in here

and it could eventually lead to a longer-term consolidation depending

upon what the dollar index does.

Dollar cat had some strength today.

We took out a buy-side liquidity above these candles here, the bodies, and

we whipped up into almost to the last.

Candle on here, but what we really did was he went into the main threshold

of these two candles together.

Okay.

And add that together.

Basically the main threshold of that range, uh, we came up, gave

up the ghost on the high, nice little pullback off of that.

But, uh, nonetheless, this one looks, uh, considerably, uh, um,

more bullish than the dollar index.

So we'll have to watch and see what this pair gives us the rest of this week.

Maybe, uh, maybe farming something significant down

here and we'll have to see.

Aussie dollar, um, slightly lower.

Didn't get quite down to the level.

I was looking for 75 95.

These candles here, um, liquidity pools resting around the 20 is the high here

and self stops still reside below here.

We have a small little rejection.

In the form of a sell-side liquidity in here.

I'm not going to note that.

I think that the trailing sell stops are below here.

Not necessarily here, there would be some hint underneath this low, but

not in the point of major concern.

I think if they do sink it, if they go down the here, they're certainly

going to take it to below here.

Trailing stops, but I would like to see a consolidated here and he may come run

one more higher, run up into a 77 50, take out the buy-side liquidity here again.

What changes the tone?

If we break down below this level here that 75 90 level, if we trade down below

that and clear out these levels here and then fail to make another higher

high back above this level, we have to start now considering ourselves, uh,

potentially looking for a lower Aussie dollar and fill in this gap here and

make a run back down to its potential.

Bullish or block, uh, that's the idea as I'm watching for palsy dollar Europound

gave up a lot of ground today and today I'm still finding resistance at that

last up candle bear shorter block.

I was surprised that it didn't try to make a punch through

for that buy-side liquidity.

Uh, given what we see here, it certainly looks like it wants to

make another run for the sell side liquidity below this bodies here.

And again, if it does, we'll be looking for 83 40 as a downside objective.

Gold almost, uh, having excited about the 1240 level potentially being hit.

That's all, this is, is a little alert.

Let me know when I get that, it'll send me a text messages.

That way I can make a notation about it.

I'm with you guys on Twitter.

I don't usually take these off, but at the time of this recording, I didn't.

So looking at, uh, what we have on gold is still looks like

we could potentially make mum.

Uh, 1240 to 1245 level.

And if we get a real nice run, we could potentially see it trade up to

1250 on gold, silver, same scenario, still looking for the 18 level on it.

And as long as it stays above the 1725 level, it should be good for the bulls.

That's the breaks for today.

Uh, I don't have anything else to talk about as it relates to Forex, I will

be with you again, live tomorrow with.

A review of the daily and four hour levels on a Kiwi homework assignment.

Make sure you do that so that we can review that in live session.

And I will catch up with you tomorrow, Lord willing until next time.

I wish you good luck.

And.