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Welcome back folks.
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This is a weekly review
for February 10th, 2017.
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All right, so we had dollar run above
the short-term high in here, gravitating
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towards the buy-side liquidity.
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It sensitivity off of
this down candle intraday.
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Uh, but it's since give up
it's high rather aggressively.
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I was surprised to see that I thought
we would see a little bit more expansion
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above this high, but it is Friday.
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So traders looking to square their
positions still on an overall
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consolidation on dollar still hasn't
left the range at convincingly yet.
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So while it's in the range,
we will look for the buy-side
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liquidity being the draw on price.
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Unless we break below this last down
candle, if that happens, we'll look
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for the sell-side liquidity below the
bodies of these candles down here.
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You're a dollar still inching
towards the sell side liquidity.
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We referenced below the body's over here.
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After it gets down to that level.
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We may see some acceleration
to reach below this low here
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again, ignoring the WIC.
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If we turn the tide and reject
this low, we have to go back above
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this up candle before I would
consider bullishness again on Euro.
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So this up candle is the
catalyst for changing gears.
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So that high on that candle
comes in at a one or seven 15.
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So we have to get back above that
shred start looking for longs.
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Otherwise we're looking for
consolidation to lower prices on Euro.
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Okay.
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We have British pound USD
still in its range as outlined.
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The last couple of days, uh, gave
an intraday objective to study for
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a pound dollar, but didn't hit the
intraday target, but it did have
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a really nice response off the
commentary I gave this morning.
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And I'll share that with you.
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Okay.
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Here's the price action
for pound dollar today?
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Uh, we were looking at this low and
here I said, I'd like to see reject.
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At this low, uh, we went down,
hit it, bounced off of it.
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Capitalizable pull shorter block, ran back
up to the opening of this particular day.
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Rather I wanted to see it run
above these equal highs in here.
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Didn't have the steam to do
that, but they give a nice little
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return back up to the opening.
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So nice little a 50 pips
or so rally intraday.
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Dollar cat.
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Uh, this pair here took me
by surprise, admittedly.
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Uh, I was looking for something intraday,
um, take out it's short-term highs and
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we had employment numbers coming out at
eight 30 this morning and they sank the
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market all the way down to the 30, 75.
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Right to the PIP instantly.
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Um, in one minute it dropped
it down to that level.
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Intraday that was this run right in here.
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Surprise.
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Hit that thinking back up to the 30,
99 or was it 31 big figure almost.
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And then back down made a lower, low,
and we've consolidated ever since
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all this has done inside of one.
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It's entire repricing.
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And if you remember, I was the
level I was given yesterday for the
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downside for dollar cab intraday.
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What I was expecting was I wanted
to see something along the lines of
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expansion up here to take out the
short-term high and it didn't do it.
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Um, I felt that there was bias
thoughts about here and here that.
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Believed, they would try to get
those before you did anything else.
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And it elect, it goes down to 30 70, which
is the level I was looking for yesterday.
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So I was off there.
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Didn't give me anything in terms
of what I thought would happen.
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Aldi dollar maintained its bullishness
as described the last few days, it's
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been bucking the dollar strength.
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And we had it trade up until
a rejection block here today.
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Right?
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About these bodies on
these candles in here.
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Nice little intraday, pop a
longer-term we're still looking
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for buy-side liquidity up here.
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Maybe run through that.
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77 80 still liquidity has been
moved higher on the sell side.
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So resting below 75, 30 Euro
pounds still stuck in the mud.
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Can't find its way out of this room.
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Real close to the sell side liquidity
set up, probably want to drop down
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in there and sweep through that.
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Even if it just goes to a little bit,
it may just stay back in this range.
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I don't see it moving either way
here in any convincing manner.
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I don't think it has anything
to show us in here to it's going
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to move one way or the other.
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So we're going to stand the side on that.
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Pear gold has a little bit
of a rally today giving.
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Some of the sell off in here.
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So that's nice.
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I'd like to still see it
go up to that 1250 levels.
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That's the next objectives.
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The only upside if we trade below the
bodies on these candles here in the high,
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and I'm sorry, the close on this is 1217.
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So we have to stay above 12,
20 to be good for the bulls.
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I like to see it maintain that.
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And silver today.
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Silver made its way up to the low up here.
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Now I had 1800 or 18 big
figure as the objective.
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That's what I was noting here, but
we are looking at this low back here.
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It comes in at 1798 and today
it traded to 1799 just fell one
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point away from the 1800 level.
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So that was a little bit of a.
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And this appointment.
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I, I got excited thought I hit it
right at the 1800, but nonetheless,
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it hit the level we were identifying.
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You could see that on the charts
that's been chaired for weeks now,
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and that's going to be it folks.
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Um, I'm going to
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join you again on Monday at
8:00 AM for a live session.
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So we'll be going over some
things as we teach tonight.
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And the two teachings for swing trading.
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When I start looking for some things
in the charts live that may set up
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opportunities so we can start practicing
our swing trading opportunities.
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So until then, infects have
yourself a very safe and pleasant,
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relaxing weekend and happy studying.
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And I will see all Lord
willing on Monday at 8:00 AM.
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Eastern standard time.
9362
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