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Good afternoon folks.
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Welcome back is daily
recap for March 14th, 2017.
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Okay.
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We were on the sidelines,
uh, awaiting FMC tomorrow.
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We have an interest rate announcement.
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Uh, that's on the horizon.
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So the markets are going to be a
little fickle as we've seen today.
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Um, dollar index, we've seen it
rejection on our main threshold or
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block that we've been noting run a
four hour basis on all the timeframe.
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As we go through today's charts.
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So I'm aware that we're on a four
hour and we're not going to drop down.
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I'm going to keep the focus on it.
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Four hour levels.
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We're going to be most likely
trying to make a run to get to these
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buy-side liquidity equal highs.
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So we have bicycles resting
above this level here again, it's
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not that it's so one or 2 25.
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So if we get rally through this
main threshold level, again, we'll
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be looking for that rally to.
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Level buy-side liquidity above us
as indicated sell-side liquidity
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still rests below here, Euro dollar.
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Right?
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So we saw the market trade down into
the beginning of the fair value gap.
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We have a little bit lower.
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I can trade two, uh, not many pips
at all, eight more pips, and it
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would complete the fair value gap.
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And then it would drop down into
the order block that's seen here.
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One for our basis for our order
block comes in at 1 0 5 95.
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So that'll be the next downside objective.
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If one of six, 12 gives way
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pound dollar I yesterday, I gave
you an example of analysis done
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by Cody in regards to 1 22 50.
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I'm looking at a bear trap and you
guys can take a look at that level.
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It's been shown on the chart setups
portion of the March content on the form.
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And I said that we would probably
most likely look to reach up into
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some measure of resistance and then
we'd go into our fair value gap.
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Now we just traded down into it.
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And it's going to be interesting
to see if we get tomorrow's
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rate announcement at catalyst to
drive it deeper into this level.
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So we're looking for a
continuation on that theme here.
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Ty comes in at.
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2086, basically 1 20 90 to 1 25.
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Uh, downside objective still
resides for pound dollar
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dollar CAD.
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Uh, this really ugly day intraday,
except for our small little rally Doron
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early New York, which was, was not
something I could give a notice to.
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So it was a missed opportunity there in
regards to that little intraday rally.
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Um, With FMC tomorrow, it's this better
for you guys to be on the sidelines.
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And it's hard for me to convey a clear,
uh, trading environment where you can
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practice ahead of FMC, because invariably,
you're all going to get to the information
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at different times because you're doing
your own thing, either running a business
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or your job, and you're not going to be
able to watch the video at the same time.
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Everybody else is watching it.
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So you're going to have
mixed results anyway.
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So it's just better in this environment
just to stay sidelines and we'll
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hopefully get the FMC out of the way
tomorrow and Thursday we'll have much
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more favorable opportunities to trade
because I need to get some movement
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also in my own trades this year.
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And FMC is the near term speed
bump to that occurring Aldi dollar.
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Uh, we saw price trade down into
the four-hour bull shorter block.
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Uh, prices rallied away.
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Um, we're probably going to see a more
attempt to go above the short-term high.
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And then we have a rejection block in
here at, um, the open coming in at 76, 10.
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Okay.
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So we're looking for
that upside objective.
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If we can continuation on the upside.
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Euro pound.
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We're looking for the market
to want to trade back down into
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this area at market structure.
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If we see the price trade below this
low, we will be looking to go for the
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sell side liquidity resting below over
here, dollar again, uh, we're looking for
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maybe a rejection below this low here.
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I'd like to see that
happen and trade higher.
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Uh, but if it doesn't, we're probably
going to stay in a range between one 14.
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And 1 15 40.
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So that may be a
longer-term trading range.
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We reside in dollar Swiss.
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We're staying neutral on, um, slight
little bullshit, um, maybe bullish,
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but I'm not terribly excited about this
pair, so I won't be touching it gold.
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Um, and again, I don't
see anything in here.
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Terribly exciting about this model.
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It could run up here and fill in the
fair value gap here on four hour,
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which would also take us back up
into this market structure as well.
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So that could be a resistance idea.
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It could see price tried to
trade higher and silver again,
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same, same scenario with gold.
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We don't have any opinions, right.
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And we're waiting for the interest
rate announcement tomorrow
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to give us further insights.
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So with the interest rate announcement
tomorrow, hopefully we'll get a green
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light for much more favorable price action
on that Thursday and Friday, I will try
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to do a session, um, in New York, either
Thursday or Friday, if the technicals
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align where we can do something live that
way you guys can watch it, I'll use an
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hourly chart to key off a, a set up until.
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