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Good afternoon folks.
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Welcome to a weekly recap, February 17th,
2017, or we have a dollar index daily on
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the left, and we had an order block here.
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We were watching.
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See if we had any kind of
pause or a bounce there.
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We had that today and we have the Bush
candle right for the down move here.
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The opening price comes in at 198.
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Phase high
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comes in at 100.99.
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Just five pips short event.
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Uh, we do have a breaker in here.
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Okay.
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We have all these candles down here, so it
begins at the high of one hundred and one
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oh three and the opening is 198 as well.
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So that's an alignment with this openness
last bare shorter block on the daily.
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So it could see it little, a
little bit more on the upside.
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If we get through that one,
I will be watching this.
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So this level will be the
next upside objective.
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Now I personally think
that this one will cap it.
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If we fail to, uh, to stop going
higher at 100 point 98, I think it'll
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reach for that a 1 0 1 20 to 1 0 1 15.
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That's the next breaker, the last
down candles, right before this swing
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highs violate, then the rejection.
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So a lot of, uh, rejection sell off
their builds the idea that this is
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the breaker, but ultimately there's
a big block of price action in here.
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So it's wide struggling at this point.
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And that's why I also was stating that
I wasn't really terribly excited about
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this order block just yet the propel
price higher, because we had such a
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strong rejection here and the fact that
we were in a larger consolidations.
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So that's all contributing
factors to that decision.
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Okay.
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Looking at the Euro dollar, a Euro
dollar, we had a 100, 6 80 level
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objective, uh, with the highest
high as 1 0 6 85 called for the.
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We had a rejection, their price
came down and said we would
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probably trade in a range between
one and six, 80 than 1 0 6, 20.
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Uh, price came all the way
down for an intraday low of
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one hundred and six oh eight.
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And if we continue to go lower, we will
be revisiting that 1 0 6 big figure.
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Really nice intraday sell off.
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Uh, as an example, I shared
with you on the forum, you
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can get that link on Twitter.
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On my feed.
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I sent that a little later on in
the afternoon after the lifestyle.
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So we had the last down camera
here on the daily chart.
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It's open as one of 5 99, essentially.
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One of the six big figure.
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So be mindful 1, 2, 6 big figure.
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You make it a little
bit of a bounce in here.
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Pound dollar.
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This one is been
heartbreak for me all week.
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I've been wanting to find something
in here to give me a directional
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bias, to be able to trade this.
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But it's not doing anything,
but staying in a consolidation.
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As we noted earlier in the week and
mentioned last week, going into this
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current price action, that's been
lethargic, uh, frustrating on a higher
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timeframe basis as this can't find
its way to find any kind of flooding.
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So we will be watching this pear
waiting for new developments.
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Again, there's nothing more
I can say about this $1 cat.
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We had a little bit of a
lift today, came up hitting.
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They're shorter blog, which is the
last two up candles together blended
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that's a very shorter block trades,
aggressively, lower cleared off these
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equal highs went right to the order
block by one pit and made a tie today.
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Uh, we are stuck in a range as well
with this pair, just like the pound.
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So we'll be watching to see what side
of the marketplace even wants to reach
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for buy-side liquidity rests above here.
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Sell-side liquidity still rests below that
one 30 level until then we're going to
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chop wood and go sideways on this pair.
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Aldi dollar.
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Uh, we had some give back today.
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Didn't quite get down to my
mean threshold objective, 76 56.
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So it was only one person.
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From my 76 55 objective, I believe
we may see one more, try to rally
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in here a little bit going into
next week, and then it would
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probably make a run for that 75 92.
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Now I'm not saying that we're
going to make it higher high.
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I think they're gonna come down
for this area of liquidity and
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draw it down to that 75 92 level.
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So that means we could potentially
see the dollar consolidate
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or trade higher as a result.
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So those are the two factors we're linking
together for these two pairs Europound.
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As we indicated this week, we said that
cable was being held in consolidation and
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your dollar was permitted to trade freely
without having any consolidation that
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tells us that your pound had the trade.
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And there you go.
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We have the rally up.
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We have a small little
liquidity void in here.
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Price was delivered balanced from this
point, all that to here, creating.
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Buy-side delivery offered
once only sell side was here.
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Buy-side was offered here,
went right to the PIP.
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Can't get any better than that.
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The low comes in at 85 92.
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The high comes in at 85 91.
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They're sort of blocking here.
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As an objective mentioned this today,
intraday, this was done for the day.
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So it probably wasn't going to see
any more, further upside on the pair.
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And it's already given back since
that live session commentary, it's
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still in a large consolidation.
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Um, I'd like to see it so off here
and make a run for the objective down
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here, 83 40 that's I'd like to see
what would I like to see and what the
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market does is two different things.
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Now isn't it.
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Gold.
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That can get up of our equal highs up
here for a four hour buy-side liquidity
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pool, equal highs just fell short of it.
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And we mentioned that if the
dollar was rallying, it's going
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to be hard for this metal to, to
rally up and create higher highs.
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We still will be looking
for that next week.
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So be mindful Monday, Tuesday, and
Wednesday, we will be looking for
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gold to try to make a run to that
1245 level in there higher, and then
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go up into 1250 and maybe 1255 as a.
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Uh, pop on this metal, silver
still consolidating taking
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people for holding it long.
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Uh, still out again, looking
for 1820, nothing changed here.
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Just want to be complete and make sure
this is included in the commentary.
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And that's it.
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Folks.
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I'm going to, uh, have your lessons
on tonight by eight o'clock.
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I will wish you a very
pleasant, safe, relaxing.
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We will be live again Monday
morning, 8:00 AM, New York time.
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So until then I wish you'd good.
10180
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