All language subtitles for Daily Recap Video 6_1_17 EN

All right, folks.

Welcome back for a
recap of June 1st, 2017.

Okay.

We had a little bit of a consolidation
day in the markets, which is typical

ahead of the non-farm payroll.

It doesn't mean we can't scalp it
as we did today, but nonetheless,

we had pretty much a sideways day
dollar index came up, almost filled

in a little bit of a gap in here.

Uh, we had this fair value gap closed.

And here the shaded area, we're
pretty much staying in that low

area towards the close up today.

The Euro pound finally came up in
trading above the Friday's high.

As we were mentioning the other
day and rejected there came all

the way down to take out a area of
self stocks rate below this low.

And our Euro dollar.

I tried to get a long
on the central pivot.

Let the expectation we'd probably make
a run for the one 13 big figure and we

just simply didn't do anything at all.

We got down at eight, 15 news,
right to my start right up,

back into the Asian range, low.

Stop dead in his tracks
and then consolidated.

So it's very hard to make
money in something like this.

It's very difficult, which is the
reason why we said we weren't going

to touch the Euro the rest of the day.

And to go back in to
try to clean things up.

I went along on the British panel.

And as you saw live in the New
York session this morning, I went

through a couple of different
premium PDRs as objectives.

Okay.

The London, London closed kill zone.

When you want to take profits.

Uh, we were looking at the old high,
we are looking at the rejection

block here, the last closed candle.

So that's our rejection
lock right in here.

And we talked about the, uh, uh, rejection
block being it's at one eight at 1 29 18.

So 1 29 20.

And it also put us.

Right inside the time of day
where the high with form.

And while I was expecting a little bit
more of a move higher, ultimately, um, to

1 29 33, that was where I was trying to
get out with my objective to close the.

And it didn't do that.

It didn't give me an opportunity
to do that limit order that

was placed live in a session.

We never got up to that level.

So taking profits on the increase
and price found it's a high during

the London close session, right.

At an institutional level one 20.

20 very, very difficult market.

But when it's difficult, either
have to be a scalper or you

have to sit on your hands.

And this morning, I stated that
we had equal highs in here, the

Asian high and the London high.

And I said that we were
probably going to run it.

We saw this wick here.

We got 1, 2, 3.

Now as a recap, justifying why
I did what I did and think in

terms of market structure, we had
a low, with a higher load to the

right, a higher, low to the left.

This is going to be an enemy
at term low short-term low.

In between the and term low in the short
term, low, and the left of it here,

that high is an intermediate term high.

You have a higher, I'm sorry, lower
height to the left of this high.

And we have a lower
high to the right of it.

So this is an intermediate term high.

So what we would do is.

Instead of an Archie here's our high.

So you know which ones you're doing
using not just indiscriminately

grabbing any old swing.

We have 1 27 extension
in here using the Wix.

And if we use the bodies of the camera,
we'll get much more precise in terms of

the volume for the swing right in here.

And that would give us a
symmetrical price swing of 1 29, 25.

Always looking for a
little bit of a move up.

We were still looking for that 1 29 33
ADR was a little bit higher than that.

I think it was 1 29, 35.

So projection wise, uh, we fell short
of it, which would be typical of a

classic sideways day, even though
we had the swing in here, right.

It's still ultimately a consolidation day.

We didn't have an expansion thing at all.

Between that idea on a fib and the
projection block, and the fact that

we had equal highs, London high and
Asian high buy-side liquidity, and

adding to that also the movement
of this high coming in at 1 28 96.

So at 1 28 96 and.

15 and you have 20 pips right
there that takes you very close

to the rejection block as well.

So static price action alone
as price rallies up is going to

want to take out that body and
that candle on the last drive up.

And that's what we've seen here in the
form of the rejection block right there.

1 29 18.

So that's priced true through that.

I want to always try to
be getting out before the.

And time of day was an impact.

So two things you could've
done, you could've just taken

profits posts a 1 29 rally.

Anything about 1 29 is good and,
or take your stop loss at 1 29 0

5 and let the market take you out.

And either one of those would
have done that in this case here.

And that's it for today,
we will be live tomorrow.

For non-farm payroll again, there
will not be any London session.

We never take a London session
trade ahead of non-farm payroll.

Anyway, and as a region, And a reminder
of how we're going to be going forward,

even though there's four asset classes
that's being discussed outside of

Forex this month in our lessons, we
are still every single trading day.

Monday through Friday during
the New York session, we will be

live between 8:00 AM and 9:00 AM.

It just won't meet two live
sessions with London and New York.

I'm going to leave one into itself.

And I'll use the information we gleaned
from London's action to fared out a trade

like we did today in the New York session.

So we'll be daily every day,
Monday through Friday during this

month, we're not abandoning four X.

Okay.

But I have to budget my time because
I'm doing other things besides

this mentorship in my own personal
life, and also dealing with, uh,

folks that are in the mentorship.

So there's a lot of things
that have to go on and I can't.

Everything inside of 24
hours and still sleep.

So I'm going to focus primarily
on the New York session.

We'll refer to what's going
on in the London session.

I'll give you a pre-market analysis
of what I think may unfold, whether it

happens or it doesn't make a difference.

We'll be trading in the New York
session as we did today, Monday

through Friday, except for obviously
anything that like, um, Interest rates.

I got to look at the economic
calendar and see if there's

anything like that this month.

But apart from something like that, we're
going to be trying to participate every

single day, trying to capture 20 pips.

Remember that's the goal, you know, and we
made 51 pips I've made on this one here.

It's still not a positive day because
it was only done with a one lot.

And I took 21 pips as a
hit on three meanings.

So three minutes I took a hit for 21 pips
and I banked 51 pips on one mini lot.

So it took a little bit of the sting away.

But, um, what is that?

Negative 13 pips.

I want a mini one mini that
would be the equivalent.

So only $13 on the day.

So that's going to be it for today.

I will see you all by way of
tomorrow morning at 8:00 AM

ahead of the non-farm payroll.

And we'll be lying.

I'll try to do something live
with you to try and take a scalp.

And until then I wish you good luck.