Welcome back to the t-shirt. We've got the one and only Mark Walton with over 12,500 students and the owner of the Forex Mentor Pro page. How you doing? I'm very well thank you. Thank you for inviting me. How's your journey here? It was very nice. I flew EasyJet. Didn't go push the budget. Came from Portugal yesterday, so yeah, it's good to be here. The weather dressed it changed must be the year. We had originally lived in the Canary Islands for 20 years and the weather there is superb because in the winter it's 20 degrees, very rarely rains and 300 days of sunshine. I'm the only one that likes the winter. Go pale! Oh, I don't mind it. I like a bit of rain, a bit of snow, a bit of wind.  I mean, I always have loads of clothes. We come to England in the winter and my wife's not bothered. I have every photo.  I think at times like the damp weather, nothing that's cool but I think weather really impacts the mood. Oh, big time. I get happier. I was obviously using South Africa as well. It must have been great. It was 25 degrees, I struggled. Living less. But I guess the main thing for me with we're here to discuss obviously is trading and it's the trading that has enabled me to be able to choose to live where I want to live. And now my average client pre-Covid and it's almost nowadays is everything's pre-Covid or after COVID but was 50 plus thinking about retirement. My average client now, private, is your age and they all want freedom. And they're kind of saying COVID has taught us I don't want to do corporate work. I don't want to be tied to something for the rest of my life. And if you think about it, how old are you now? 23. You will quite probably live till you are 90 or 100. I hope so. Seriously. The average age in the UK has gone from 69 to 83 in one generation. There's more than 100,000 people in Japan who are older than 100. So the point is why get involved in something if you're not passionate about it? You know, why would you want to go do a job? You know what the acronym J-O-B stands for? The job. Just over broke. Just over broke. That's most people. My daughter when she left the university didn't know what she wanted to do. And I said the last thing you want to do is get a job because if you get a job, you will get on the wheel and you will be working to pay rent and to pay transport by phone and you'll get to the fourth week of the month. Like most other people, kids in the UK, you won't have enough money. I mean, I always do say to that. I understand. But there is a place for someone as well that that's the life they want. They're happy in a life where they have their routine.  So I do understand that side of it. But at the same time, they still need to be given the knowledge to make that decision. To make the choice. And they're not necessarily being given that. Do you know if you owe a thousand pounds, 3,000 pounds on a credit card and you only pay the minimum every month, have you any idea how many years it takes to pay that 3,000 dog? 25. 31. Oh, that was so close. 30. An 8,000 interest. Yeah, I know.  It was sort the mess out. There was nothing left. But he'd had credit debt card debt for tens of years. Tens of years. It'd be damaging. John, that's why we're here. We want to try and educate people. And hopefully we can level up people's financial knowledge through these kind of scenarios. I talk to you all about your self experience and hopefully showing some wisdom yourself. Yeah, I'm not. I've noticed your mindset is very advanced, especially for, you know... Now what's on my mindset? Put an older per go on. Yeah, I can't say it. 23-year-old poker. No, four or four. 26, I like that. Four or four. Someone has lived on the earth for a while. Yeah.  Stoke digging.  But I mean, when you're sending your biography, it makes sense because you lived 10 different lives. And in your lifetime, you know, I've seen musician on there, law re-driver, restaurateur, builder, property developer... Football coach. Yeah, it's... Trader. Yeah. It's some... The irony is that trading funded everything. And the other thing, I was a coach in the Spanish Second Division for Fort Sol. It sounds grander than it is because when you coach the Second Division, it's regional, so I just coached in the Canary Islands. But we were playing some of the team's ex-prouts. But the only reason I was able to do it, because I was making money from trading on a morning, I mean, I was working five nights a week, coaching kids, and then two nights a week, coaching adults, and I was getting on a plane every other weekend to another island with the adults to play a game and then get back Sunday and be ready for the market. Oh, that's good fun, isn't it? But we do have to ask, out of all of those jobs, is trading the best? Oh. Trading has been very good to me, and trading is very good in that if I suddenly need money, I can make money. But trading is not the be-all and end-all for me. Trading generates the money to give me the choice to do what I want to do. So my philosophy, I'm not addicted to it, but I also don't just trade Forex. I did very well out of crypto. 2022, then 21, I took on private clients again, and also the members of Forex meant to prowl, and I explained why I thought that crypto was going to really kick off. And we got in well. I mean, the first Bitcoin I bought wasn't a goodbye. I bought it in February 2020, just under 8,000. The following month, the COVID crash came, and it dropped to 4,000. But I, because I understood the blockchains and what was going on, I was convinced it was going to work. So I took people on at 8 grand, and then in the October week, we did a launch to the general membership. And the gains that we made were insane in nine months. I made more money personally in nine months than I did in the previous 20 years. Wow. Now, Bitcoin has started again in recent days, and I was showing at Poco and I, before we started, was sharing tips, and this is a trade I've done. But two weeks ago, I explained to people, crypto is a no word in a lot of cases, and the banks, you can't talk about it. But I showed them how using stock, an American stock, which is a blue chip stock, you can actually invest in Bitcoin, and it's more tax efficient because you don't pay, you could buy the stock within an ISO, and you don't pay tax. But the stock went up 35% in 10 days, but it's linked to Bitcoin. But the reason I knew how to do it was I used exactly the same technique I use for my trading for Forex, for crypto, and for stocks, and for gold. So the beauty is, if you can learn it, and it's really simple what I do. I've looked at all the interviews you guys have done, and it's really strange because you had Jason Senon, and Jason was one of these traders in the pit when they're shouting and screaming at each other, and I say, I started as billionaire mates in the basement, and yet we both, at the end, do virtually the same thing. And it's all keep it simple. You don't need fancy indicators. To me, it's just all repeatable patterns. You don't when things shoot up, dive in, you wait for it to come back. And there's a saying in trading is you make the profit, we're paid to wait. And so the Bitcoin, I'd waited six months for Bitcoin. This week I had a trade, this week three trades, one on the euro pound, and I am known for being spookily accurate for the entries. I picked them from hundreds of pips where it's not rocket science. I look at Fibonacci, I look at trend lines, I look at the trend, I look at the daily range, and I look where did it bounce last time. And Bitcoin, when Bitcoin went to 67,000 and then it dropped, it came back down around 30, which is where it struggled on the way up. So it was obvious. If it was going to stop anywhere, it was probably going to stop there. And that's what trading is. You don't need to make it over complicated. You don't need super sophisticated computer systems. I bought them all and I regularly get offered things. Will you promote this? I hardly ever promote anything because most of it is not needed. You just need to understand the basics of it. You said this, there's a, keep it simple, is a philosophy that's worked for you. Yes. That you think and that you see working. I see it working in other aspects of my life, especially in finance as well, when I speak general finance, personal finance. Yep. Keep it simple. You can go and start learning the more complicated stuff, leveling it up, but for the majority of people, the simple is enough. Yes. But on the flip side of that, like you've taught a lot of people, you've got a massive audience of people that listen to you. I'm sure you've seen a number of people do well, but a number of people not do well. What are the biggest pitfalls you're seeing in trading? The ones who do the worst often are the ones that start off the best, because I've had people come to me, I had one particular guy, I was, we have a weekly life training session and I was talking in this training session, explaining about a guy that came to me, started to do really well, doubled his account in three months, did it again in three months, quit his job, started trading for family money and you know where it's going to end. He then, he'd been on the biggest winning streak ever and he blew the lot and then he'd got family that he owned, run it or not, never trade for family. And then while I was doing this live training session, there was an Australian guy in the room and he said, I took 2,500 to 75,000 in three months and I was reading the chat and I thought it was a misprint, I thought it was 2.5 to 75, but I spoke to him afterwards, it was true and he'd been on the biggest winning streak everywhere and he'd been financially struggling, suddenly he thinks that he's now going to be a multimillionaire, he's looking at brochures for Porsches and everything and he lost it all in one night and again, he'd just been on the biggest lucky streak ever. It's difficult to tone people down and unfortunately, a lot of people don't listen. So we have a guy at the moment, we've just done a case study from him, he joined us eight years ago, I mean a lot of our students joined a long time ago, we started in 2008, so a lot of them, they're not necessarily active anymore, but this gentleman is 63 now, he started in, when he was 53 and he said, when he came in, there's a bit at the beginning, right at the beginning of the course, that says right, the first most important thing you need to do is create a business plan and it's a business stroke life plan. What are you trying to achieve? What period of time? And let's be realistic, you will not get rich quicker at this. And I talk about all the different things that you need to do to put the foundations in properly, to be able to do this and most people kind of go, oof that's boring, right let's get on to the technical, let's go on to the charts, this is the sexy stuff, so this guy David's just written a thing where he came back in July, no June, and he said, right, I realize now, I should have listened to Mark in the first place and I even had a guy last year from Sunderland, he's been with us 10 years and he attends the weekly live sessions regularly and he sent me an email last year, he said, you know what, I finally thought, oof sod it, I'm going to do what he's been banging on about for 10 years and you know what, it actually works. But the problem is, is that people come in and they think, well okay, what he's doing works, but he's on, I only risk 0.5% per trade, but I'm looking for two or three percent return, I don't need to win more than 50% of the time, I can actually be profitable at 40% and being from a sports background, that's difficult, because we're brought up, we want to win and losing is bad, well actually it's not, it's just math and as long as you're taking trades that would give you at least three, four times the risk, you only need one in three to be profitable, which is a real mind shift and difficult for a lot of people. But this general thing is, everybody wants to get rich quick, the crypto actually spoiled young people, because I had a good friend of mine, his son was at university, I said just ask him, how many of his mates are in crypto, the whole university is in crypto and as we know, it's gone up, it's up another 50% this morning, this is easy, life's going to be, and now suddenly it's not, but I was trading stocks in the 90s, the dot-com boom, in those days you used to have to ring the broker up to press a trade and I stayed in too long, because I got caught up in all of it, we're all going to get rich quick, this is easy, but it's 20 years later before we had really another brilliant occasion and that was crypto and it might be another 10 before it comes again. The other thing is, don't just learn to trade, have another skill, because you don't need to spend more than an hour a day doing this and therefore if you can learn another skill, so the main investment you should make is to learn something that preferably online that you can do, whereby you can generate some income and even if you only make £200 a week from this and £200 for that and £50 from this, it doesn't matter, so if you have a bad month from trading, you're still going to be okay, because the worst case in trading, I was doing it only trading for five years and if you go into a slump and we're all going to a slump, no matter what they say, we will all go to dig your way out, it's like digging your way out of debt. It's twice as hard when you're in debt to get back to naught than it is to go forwards. So, realistic expectations, create a business plan, a life plan, work out the trading rules and stick to them. Yeah, definitely. I think especially with trading, I always like to tell people, always be doing something else, because I think once you're relying on trading to live on, that's when your psychology is all over the place, you're trading as if this has to work and I think give yourself time to breathe and learn and maneuver the markets. It's so much easier on my mind especially. Yeah. Do you have an approach to turn people away when they come in trade and do you encourage a lot of people to trade or do you really think there needs to be a specific person when it comes to this? Anybody can do it in theory. Anybody with a reasonable level of intelligence can do it. There are certain industries that accountants generally struggle and I think it's because 2 plus 2 always equals 4 for an accountant. Whereas in trading, I can do the best analysis going and this is the spot and it doesn't work but I will still take the same thing next time because it will probably work. So, they struggle. Sports people struggle as I said earlier. We want to win. We want to win. We want to win. You know you don't need to win. You just need to be calm and wait for them to come to you and when you win, win decent amount. So then in terms of strategies that you may teach beginners or those as your students, how do you go about and what type of strategies do you like to implement? I have one strategy I've used for 20 years and all I've done over the years is take more and more things off. So I now start with a very simple chart. I have, I used 200 EMA and the 55 EMA. I use trend lines and I use Fibonacci which Gabriel's probably like, well, but the thing is to a technical trader, then that you understand where I've got to use. So it's not complicated but I look at structure first and what I say to people is, look at a weekly chart to start with and look to see is it going up? Is it going down or is it going sideways? Because if it's going up we want to buy. If it's going sideways, we have a different bet we will look to buy on the puller. If it's going down we want to sell. It's that simple. So you're looking at the structure. Then I go to the daily and I am then looking for multiple reasons to support the theory that if this thing drops, it will probably bounce here for multiple reasons and I look for five reasons. So that could be the trend. It can be a Fibonacci level. It can be previous major support and resistance. It can be a whole number as silly as it is with a lot of pairs. So you look for four, well, five reasons I teach people to look for and is it going up down sideways? And then the only difference would be is if there's some big news out, so the Australian news usually comes out in the middle of the night for us, wait until the news has come out. But other than that, I will place the order at the market open. So it's not complicated. The other part of the equation is when you're looking for a trade, it must have the possibility to make it minimum twice what you risk. Yeah. And ideally three or four times. So on that basis, you can win one in three and still be profitable. You don't have to win all the time. You don't have to take many trades. You just need to wait. And so I was telling you earlier, I did a trade last week in a live training session with my students. I'd seen that Bitcoin had broken out of the triangle, which technically, as you know, is an important area. So what I said to my students, if you're not interested in crypto and it scares you and you can't put money in because the banks won't let you, you don't want all the hassle with the wallets. One of the ways that you can do this is to use a US stock called MicroStrategy and MicroStrategy had broken a trend line and a 55-year mag and it was following Bitcoin. Why is MicroStrategy important? Do you know why MicroStrategy is important when it comes to Bitcoin? No, I don't. MicroStrategy own 158,000 Bitcoin worth $5 billion. So if Bitcoin goes up and they've got 158,000 that an average buying cost of 29,000, their price will shoot up. So from my telling my clients and students, it shot up, it nearly went up 40% in the end, in 10 days. But that was just structure. As it being going up down or sideways, has it consolidated in an area? Is it breaking an area? And fundamentally, well, Bitcoin's gone up. They've got 158,000 of them. It's not going to go down. So again, start in the big picture.  If it drops, where's it probably going to bounce for as many reasons as possible? And that's all you need to do. You make it sound simple. It is simple, but it's this that screws everybody because they get greedy and emotion and silly. I was telling a tale yesterday, I have a guy I'm just teaching now. He is a deep sea diver in the North Sea and it's one of the most dangerous jobs in the world. There's three of them go down in a capsule for a week at a time. It's pitch black and it's terrifying. But it's the kind of job, it's one of the most dangerous in the world and he and his two other guys down there have to follow every health and safety protocol to the letter or somebody could die. I'm teaching him forex two weekends ago. He'd been with me a fortnight. He spotted a really good trade and when the market opened the spread was 15 times wider than it should be and he took the trade. And I said, you're running around like it. There used to be a character in the Muppets that used to run around with his hair on fire. And I said, how can a man who's in such a structured disciplined environment when it comes to trading run around like a lunatic? I've always been, when it comes to the UK I've always told my friends, I would rather focus on conquering the UK so in terms of maybe selling up a business here make a struggle on my network and then branching out. Well, what do you think about? What do you think? That's the UK and there's- No, but you're 23.  It's like pensions. I mean, I briefly sold pensions for a UK bank and I am not a big fan of pensions for young people. I think it's nonsense. You know, if you're 23, I disagree. You would bank. You can have that one in a minute. You at your age could quite probably live till you're 100. But seriously and healthily to 100 because the life expectancy is going up all the time. The downside is the pension scheme for the government pension is going higher and higher. So whether there is still a government pension when you retire, at the moment it's now you've got to be 67, used to be 65. The governments are not getting enough money and we have an ageing population so they're going to keep pushing it. So when you retire, it will be 80. So do you want to start putting money away now for 60 years time and do you want to follow the mantra of always put money in stocks because you always make money? That's not true. I think there are other ways of putting money away. So even if it is in property, for example, that's still money for your future. The reason why I do believe in pensions is because time is one of the biggest assets for money. Yeah, it is. It really is. So I do encourage people at a young age that, okay, you might not think that 50 pounds a week will do anything for you because it sounds like nothing. But the truth is if you're putting that away from the age of 20 or 18, all the way up to the age of 60, 70, 18, it's just a little bit just to give you that security because so many people are hitting retirement age not able to retire, having to continue working, nothing in savings. I think the average mean savings at retirement age is probably around 50,000 pounds in the UK. Now, don't quote me on that number. It's about 75. 75,000 pounds. Can you live off 75,000 pounds in your bank account for the next, now you said 30 years of your life? That's why I do encourage people to think long term. Maybe it doesn't have to be labeled as a pension but just something put away towards an age in your life where you're hoping to not have to rely on bringing in an income. The point I'm making is I'm not saying don't buy stocks but it's the timing. So for example, if in 2008 you'd been saving for 40 years and you have a million pounds in your pension fund, when the stock market crashed in 2008 it dropped 58%. So your million, you're going to retire next week, your million's just gone down to 480,000. And people say, yeah, but it always comes back. It took five years for the S&P to recover. But gold tripled within those five years. So just like I had mentioned earlier about crypto, if you catch the right time you can make a lot of money. Somebody said to me recently, if you had to start again, what would you do? I would buy property. And the reason I would buy property is I looked at an exercise this morning. If you put 8,000 pounds into the S&P in 1970 you could buy two houses at that time or you could put it in the S&P. Now it would be worth one and a half million pounds and those two houses would only be worth half a million because the average house price nowadays is 250,000. But the second house would have been, if you did a conventional mortgage would have been paid off by 1995. So it would have been giving you income for 23, 28 years now. And this year it might be giving you 2,000 a month. And the point of that then is instead of putting money away for 60 years time you could draw that money on a regular basis. It also gives you the freedom to say okay if you really wanted to do something you could sell one of the properties and as you get older tax wise there are advantages as you can put larger amounts in. So I'm not saying I disagree with it per se but the timing. So for me I don't think for a 20 year old it's the best advice. Yeah stocks always make money but stocks are cyclical. What I'm hoping what someone takes out of this really is there are options and don't just take things because someone tells you. Exactly. Do your own research and there's a number of right decisions. This is what I like to people. Everyone's scared of making the wrong decision. I say there's a number of right decisions you can make. One of the most important one is to actually make a decision. Yes do something. Do something. Be active and be conscious and educate yourself on that topic. And on that line of looking at the future the young generations and pensions the world is going to look very different financially in 20 years from now very very different. It may not even be the same as it is now. I think it's going to be a full 180. Yeah you look at AI you had the conversation with Jason saying about the AI for trading that's a different conversation but the thing is now when I was a kid there used to be a program in the 70s called Tomorrow's World and they were trying to interpret what was going to happen by the year 2000 and they thought they'd be flying cars and nobody could even imagine the concept of the internet. And things did change I mean there was a lots of things happened but the last 10 years things are moving so quickly. I think one of the Amazon factories now that used to employ hundreds of people is employing like 10 because there's robots flying everywhere. The only thing they need people for at the minute is to take stuff off the conveyor belt and put it onto the robot. Now they announced last week that they're testing robots to pick things off the conveyor belt. But so you've got that level of work's gone you've got the supermarket now a Tesco near where my daughter lives in Middlesbrough used to have 27 checkouts there's four now. Everything else is self-checkout. So that those jobs have gone and then you look at train drivers I think it's Saudi Arabia the whole network the whole metro system is no drivers. So if all those jobs are going to go and anything I talked to a lawyer recently and he said there's a lot of jobs going to go in the legal world because a lot of the admin work is done for people searching for the documents and case examples you just have to do you pick now and again accountancy most of it can be done automatically. So then if you're going to end up with millions and millions of people around the world for whom there is no work there's no realistic possibility of work they tested in Switzerland last year the testing in the UK now is what's called universe Lincoln and what that will mean is everybody they're going to get rid of all the social security system and the tears of government and everybody will be given £2,000 a month whether you're working or not if you work then you can earn more but the thing is if you have tens of millions of people with no jobs and no prospect of a job you're going to end up with rioting and revolutions and the rest of it so the rich need to keep a lid on it by spreading the welfare out give the money to people so it may be as you've started the conversation quite right I think so I think within 20 years the current financial system will not be the same because everything at the minute is geared to growth every country has to increase its GDP every country has to make more stuff every year to sell to more people but there is a drop in the birth rate in the western world so there might be fewer people and there are minerals and things that we'll run out of so you can't keep making stuff to get to make more so I think the world will change and again that's why I wouldn't be in a rush to commit to something 60 years ahead now property gives you flexibility there are not enough houses in the UK and everybody needs somewhere to live so as they flip side to this conversation is this idea of with new technology brings new possibilities and new opportunities so we know it's a fact that there are going to be millions of jobs disappearing but maybe the same way that the internet was created millions of opportunities are going to be coming so what's your approach what's your ideas to young people today how do you prepare yourself for this new world coming so that you will put yourself in good stead even if it's to do with trading specifically to take on teach yourself a skill learn a skill learn trading learn I mean I bought my kids one Christmas you know they're unwrapping presents and one of which is a course on how to build a website and it's like oh god now what's he doing but all my kids could build websites my youngest daughter the one that went to Australia is still touring the world she's a photographer as well but she is able to build websites that will probably go with AI but she's made a good living for the last seven eight years so learn a skill a practical skill that people need and ideally that you can use online or if you're more physical get a trade learn to be a plumber you know still people are going to have to crawl under floors to put pipes in and things that AI won't be able to do and electricians and things and if you if you learn that kind of skill you could do that anywhere in the world so just learn more of a skill do not depend on your job to be there in 20 years time and don't start devoting yourself to a career for something you know think the implications so could a machine do what I'm doing could he do it better quicker and smarter than me and cheaper and won't go on strike well if that's the case you need to start thinking now about another way for what to do in the future with AI is entering the trading space have you ever thought you know that AI is trading for people making money for people there's bots out there do you think that will ever affect our retail traders trading manually or you always see that as another side of the market which if someone was entering we've always had the last 10-15 years we've had a level of automation the banks have all got automated software a lot of which appears to be influenced by Fibonacci which is why I think Fibonacci works so often you will see price will hit the 78.6 Fib and bounce straight off it well if all the banks and the funds are using technology with that in built then it becomes a self-fulfilling prophecy so we've already got a level of automation I talked to a programmer last weekend and I said to me what would be a concern is if everything was perfect because it's learned from its mistakes would we end up with a situation where price doesn't move because and then then we've got a problem because nobody can make any money but then again because the funds and the banks make so much money from it they're not going to play that game so he said exactly the opposite he said because each piece of AI is going to be programmed slightly differently and he thinks there will actually be more extreme moves but at the end of the day I have no idea nobody has any idea and to answer your question about kids for the future nobody know the internet nobody dreamed of the internet when the internet started there was a famous Nobel Prize-winning economist called Paul Krugman who said that it'll never catch on it'll be like the fax machine it'll be gone in five years and this guy is still writing in the New York Post and he said the other week if you take food, housing and heating out of the inflation figures we're back at two percent hang on a minute if food inflation is still at 15 percent and house you think of the rents in London and how much they've gone up 10, 20, 30 percent how can you turn around and say well we'll take food and housing and heating out of the this guy's a Nobel Prize-winning economist we take the three most important core elements of our life about of our life everything's great yeah it's insane it's insane so and again you need to be able to read things if a survey I said to a kid years ago if a survey comes out and it says listen eating beef burgers is really good for you just think who paid for the survey and so if somebody from a bank says to you oh we're buying the euro today at 106 with a target 108 a bank to my knowledge is not a charitable institution the only reason they're telling you is because they've got a load of it at 108 they want to sell then they want you to pile in and buy it so they can sell it so you've got to learn to cut you talked earlier about there's so much information you really need to peel it all back and just be very cynical and just say okay I have a few people I recommend and I'll send you the links later on and another thing I would give you you had Richard was on last week and he kept pulling presents out behind the plant I will give you a $60,000 present if you want to understand what really happens with Bitcoin and blockchain there is an MIT course on YouTube completely free it's a 20 hour session so it's a slog but if you want to understand blockchains which is why crypto is so important you can watch that course and the students on that course have paid $60,000 for that course on that note thank you very much for our present um I just want to say thank you so much for thank you for inviting me for this that was that was brilliant I think so many insights Poku yeah no I definitely learned a lot definitely going forward and we'll definitely play that especially that course I think more older people should be willing to share experience but not in a negative way the world is a beautiful place still there's more good people than bad and you really need to get out there and enjoy it while you can you know I like that always end on a note of positivity there are opportunities if you're willing to work hard search and educate yourself on them must educate yourself which we have done for ourselves today selfishly by taking all of your knowledge from you so thank you for that you're welcome nice to meet you both thank you


Hello and welcome to the session. In this session we discussed the following question that says let D14 be a set containing the elements 1, 2, 7 and 14 define the operation of sum, product and complement in D14 by A plus B is equal to LCM of A and B that is the least common multiple of A and B. A into B is the GCD of A and B that is the greatest common divisor of A and B and A complement is equal to 14 upon A where A and B are the elements of set D14. Show that the algebraic system consisting of the set D14 operations of sum, product, complement 1 and 14 is a Boolean algebra. Consider the algebraic system consisting of the set B operations of sum, product and complement. Now this would be a Boolean algebra if the following laws satisfied. The first law is the closure law. Next law is the commutative law. Then we have the distributive law. Then next associative law. Then next is the identity law. And then we have the inverse law. All these laws are satisfied. Then the given algebraic system would be a Boolean algebra. This is the key idea to be used in this question. Let's now proceed with the solution. We have given a set D14 with elements 1, 2, 7 and 14. Now for A B belonging to the set D14 the operation of sum is defined as A plus B is the LCM of A and B. Then A into B is the GCB of A and B. Also A complement is equal to 14 upon A. Now we are supposed to show that the algebraic system consisting of the set D14 the operations of sum, product, complement and 1 and 14 is a Boolean algebra. So for we will construct the tables corresponding to the operations of sum, product and complement. Now the table 1 defines the operation of the sum as A plus B is the LCM of A and B. So 1 plus 1 would be the LCM of 1 and 1 which is 1. LCM of 2 and 1 would be 2. LCM of 7 and 1 would be 7. LCM of 14 and 1 would be 14. In the same way we will fill the rest of the table. So this is the table defining the operation of the sum. Next we have the second table which defines the operation of the product. Now A into B is the GCB of A and B. So 1 into 1 would be GCB of 1 and 1 which is 1. GCB of 2 and 1 is 1. GCB of 7 and 1 is 1. GCB of 3 and 1 is 1. So in this way we will fill the rest of the table. So this is the table defining the product operation. In the same way we have the third table defining the operation of the complement. Now as here we have A complement is equal to 14 upon A. So if A is 1 then A complement for 1 would be 14 upon 1 which is 14. Then if A is 2, 14 upon 2 is 7. So complement of 2 would be 7. Now A is 7. So 14 upon 7 is 2. So complement of 7 is 2. Now if A is 14, then 14 upon 14 is 1. So complement of 14 is 1. Now we will see if all the laws are satisfied. First consider the closure law. Consider elements 1 and 2 which belong to the set D14. Now 1 plus 2 is equal to from the table we have this is equal to 2. So this 2 also belongs to D14. Now consider 1 into 2 from the second table we have 1 into 2 is 1 which belongs to the set D14. Therefore from this we conclude that if 1 and 2 are the elements of set D and 14 when 1 plus 2 also belongs to D14 and 1 into 2 also belongs to D14. So we can say that if A and B are the elements of set D14 then this means that A plus B also belongs to D14 and A into B also belongs to D14. Thus we can now say that D14 is the closure law is satisfied. Now consider the commutative law also we consider the elements 1 and 2 of the set D14. Now from the table 1 we have 1 plus 2 is equal to 2 also 2 plus 1 is equal to 2 so this means that 1 plus 2 is equal to 2 plus 1. Now consider 1 into 2 from the table 2 which is equal to 1 then 2 into 1 from the table 2 is equal to 1. So you conclude that 1 into 2 is equal to 2 into 1. Therefore that if A and B are the elements of the set D14 then A plus B is equal to B plus A A into B is equal to B into A. This is the commutative law. Thus the commutative law is for the next law that we consider the commutative law for this we consider the elements 1, 2 and 7 belonging to set D14.  Now consider 1 plus 2 plus 7 the whole now from table 1 we have 2 plus 7 is 14 so here we have 1 plus 14 now 1 plus 14 from table 1 is 14. Now consider 1 plus 2 the whole plus 7 is equal to 1 plus 2 is 2 from table 1 or 2 plus 7 from table 1 is 14. Therefore we conclude that 1 plus 2 plus 7 the whole is equal to 1 plus 2 the whole plus 7. Now consider 1 into 2 into 7 the whole is equal to 1 into now 2 into 7 is 1 from table 2 now 1 into 1 is 1. Now consider 1 into 2 the whole into 7 is equal to 1 into 2 is 1 into 7 now from table 2 1 into 7 is 1. So this means that 1 into 2 into 7 the whole is equal to 1 into 2 the whole into 7 and so we can say that if A, B and C are 3 elements belonging to set D14 then A plus B plus C the whole is equal to A plus B the whole plus C and A into B into C the whole is equal to A into B the volume to C. Thus we can say that the associative law is satisfied. Consider the distributive law we consider 1, 2 and 7 the elements of the set D14. Let us first check the distributivity of the product operation over the sum operation. So for this we consider 1 into 2 plus 7 the whole now this would be equal to 1 into now from table 1 2 plus 7 is 14 now 1 into 14 from table 2 is 1 so this is equal to 1. Now consider 1 into 2 the whole plus 1 into 7 the whole from table 2 1 into 2 is 1 plus 1 into 7 is 1 and from table 1 1 plus 1 is 1 so they both are equal that is we have 1 into 2 plus 7 the whole is equal to 1 into 2 the whole plus 1 into 7 the whole. So this shows the distributivity of product over the sum. Now consider 1 plus 2 into 7 the whole this is equal to 1 plus now 2 into 7 from table 2 is 1 now from table 1 1 plus 1 is 1. Now consider 1 plus 2 the whole into 1 plus 7 the whole. Now from table 1 1 plus 2 is 2 into 1 plus 7 the whole. Now from table 2 2 into 7 is 1 so they both are equal that is 1 plus 2 into 7 the whole is equal to 1 plus 2 the whole into 1 plus 7 the whole. So we can now say that if A B and C are 3 elements of set D 14 then A into B plus C the whole is equal to A into B plus A into C this shows the distributivity of the product over the sum then A plus B into C the whole is equal to A plus B the whole into A plus C the whole. This shows the distributivity of the sum over the product and thus we can now say that the distributive law X we consider the identity law meant A which belongs to the set D 14. Now from table 1 we observe that A plus 1 is equal to A which is same as 1 plus A. If we consider A as 1 then 1 plus 1 is 1 if A is 2 then 2 plus 1 is 2 7 plus 1 is 7 14 plus 1 is 14 therefore we can say that this 1 is the D element for the sum operation. Now from the table 2 we observe that A into 14 is equal to A which is same as 14 into A. Like if A is 1 then 1 into 14 is 1 2 into 14 is 2 7 into 14 is 7 14 into 14 is 14. So therefore from this we can say that A plus B is equal to A that this 14 is the identity element for the operation product. Next law that we have is inverse law consider A to be equal to say 1 then from the table 3 we have A complement is 14 that is 1 complement is 14. Now 1 plus 14 from the table 1 is 14 also 14 plus 1 is 14. So therefore we have 1 plus 14 is equal to 14 which is same as 14 plus 1. So we can say for any A belonging to the set D 14 A plus A complement is equal to 14 which is same as A complement plus A and this 14 is the identity element for the operation of the product. Now consider A into A complement that is 1 into 14 from table 2 1 into 14 is 1. Now A complement into A is 14 into 1 which from the table 2 is 1. We have A into A complement is equal to 1 is equal to A complement into A for any A belonging to the set D 14 and this 1 is the identity element for the operation of the sum. So this shows that for an element A belonging to the set D 14 there exists its inverse A complement such that A plus A complement is equal to 14 is equal to A complement plus A where this 14 is the identity element for the operation of product and A into A complement is equal to 1 which is same as A complement into A where this 1 is the identity element for the operation of sum. Hence all the laws are satisfied. So we can say the algebraic system consisting the set D 14 operations plus product complement 1 and 14 is a Boolean algebra. So this completes the session. Hope you have understood the solution of this question.


So we are finally done with our connect motion capture series and I'd like to share my thoughts on how well I think it performed in relation to how much it cost. So let's break it down. What are the pros and what are the cons? Let's start with the pros. It's affordable. If you are using Blender because it's free, then you also probably can't afford a couple hundred dollars on Vive, iPy or even a suit. But you can probably find a used connect for under 60 bucks. If you're a hobbyist who just wants to have fun and mess around with 3D animation, then that's really what connect was for. If all you want to do is vtuber stuff or slice of life stuff like posing, walking, talking and waving your arms around, then connect is a pretty fun way to dip your feet into the world of motion capture. Now if you are not a hobbyist and you are very serious about doing 3D animation long term, then I highly recommend that you save up your money till you can afford a quality suit or a 10 point Vive or the lifetime version of iPy which combines two connects. Because a single connects biggest drawback is that it can only capture animations assuming that your body is facing the camera. If you want to record more dynamic animations with full body rotation, then one connect hardware is not for you. It was designed for games where the player is always facing the camera, and it does that fairly well. But it really wasn't designed for full body mocap. I think the most surprising thing for me was the lack of Microsoft support for 3D artists. A lot of people talk about connect, and there is a lot of third party plugins, add-ons, filters and softwares for connect. That is why after days of searching I could not believe that Microsoft connect studio had no built-in feature to export the rig into 3D software. No .BVH, no Kalata DAE, no FBX. Exporting animations from Microsoft just wasn't a thing. And the fact that an export feature does not exist out of the box really shows that connect wasn't intentionally designed to be used by 3D artists. If anything it was more like an afterthought. The only software that I found to get the animation directly from Microsoft connect studio into an export format was the one I showed you. And that wasn't even made by Microsoft, it was made by some random fantastic person. But here is the most depressing thing that I learned during my entire connect adventure. All of the drawbacks with connect disappear when you combine two connects together. One connect is not good enough for serious animation, but two connects definitely is. You can see here that just adding one more connect easily solves the full body motion capture problem. So technically, anyone who can afford purchasing two of these bad boys can have quality motion capture hardware for under 120 bucks, which is pretty amazing if you think about it. So the hardware is not the problem. The problem is that the only guy in the world who knows how to combine two connects charges you around 1300 bucks or around 500 a year to use it. Let that sink in for a second. The only reason that no one can have affordable motion capture is because no one is willing to figure out how to combine two connects for free. Like seriously. That's the only thing we're missing. Microsoft never released an official way to combine two connects.  Like seriously.  That is the only reason that all of us poor people can't afford decent full body rotation motion capture. So this is my deal to anyone who can figure out how to combine two connects together. If you make software that basically does what iPad does for free and I can get it to work on my machine, I will personally make a tutorial series promoting your software and show people how to use it. Hell, I'll even make a rig just for you. So if you guys figure anything out, let me know in the comments, I'd love to hear from you. Otherwise, if you join me next video, we are going to be starting our high end motion capture series with the goal of comparing single connect motion capture against a full body motion capture suit. So I hope you look forward to that. Please take a step back to appreciate all the fantastic names you see here on the screen. This connect mocap series was sponsored by the brave names you see here. If it wasn't for their continuous amazing support, this tutorial series would never have happened. If you enjoyed these tutorials and you'd like to see more, then please consider joining the squad on Patreon to help us afford new software and hardware that you would like to see in future tutorials. Some of you probably know, my computer is slowly breaking down and I'm currently saving up for a new one and a lot of that is going to depend on how much I can make on Patreon by the end of next month. The better my hardware, the better software I can test. But if you can, as always, hope you have a fantastic day and I'll see you around.


Okay, very good morning Tuesday 9th of July. I hope everyone is doing well a quick look First of all over the charts and a summary of what I'm going to cover Pound a little heavy this morning So a couple things to update you on on that regard and this time more of an economic focus than so much a political one But coming close to testing some interesting levels in close proximity to the downside Elsewhere other news stories in regard to the ECB a couple of bank comments in regards to what to expect going forward on the prospect of the ECB Re-initiating QE which timing I guess and to what size is going to be quite a key thing to ascertain And then we've got some news on the the China US trade war new arms sale from the US to Taiwan that which is Not a market moving headline on its own But certainly would be interesting in regard to the recommencing of trade negotiations between those two countries And then we'll have a look at the calendar and what to expect for the for the day ahead so starting off as you can see got the charts up in front of me and rather than the actual Individual news stories I would say it's very much on the sentiment basis a continuation of what we've had from yesterday So equity still a little heavy Just looking at the DAX this morning. It's already tested as s2 one thing to note is that despite Deutsche Bank shares Rallying at the open yesterday. I think they did finish down about five percent. They're down about two percent last time I looked at the open this morning. So, you know irrespective of very aggressive restructuring kind of cost savings trying to kind of if you like clip off the bad part of the bank in order to press the Reset button focus on more, you know core performing assets or parts of the business the markets Hasn't really bought into that story and that reversed So that's just one thing to be aware of but looking at the S&P 500 here and obviously from a technical point of view There definitely isn't and Sam will go over this in more detail some key areas to look out for but I think technically the S&P's Setting up with some quite clear points of support and resistance going forward. This was obviously the The wake and the volatility of non-farm payrolls on Friday We had the initial sell-off of course after the headline the kind of extreme nature of the beat on the number of jobs Created on the change in non-farm payrolls But the overall recovery into the Wall Street clothes, you know once the kind of dust settled and the idea of okay 50 basis points maybe removed off the table But the Fed definitely is still going to act at the end of the year and most likely multiple times for 2019 but there's no detracting from the point of the global economy is Deteriorating at this point and whether that's in machine tool orders in Japan yesterday whether that's in global PMIs You know across different nations at the moment The net result is is that at the moment economically things are slowing down from pretty much each continent And so equities just drifting a little lower the other thing I think also that not a lot of people are kind of talking about at this point in time But I do feel as well. This is a little bit of almost Pre-positioning if you like ahead of corporate earnings season, which does start to kind of kick off in the next week or two and Obviously corporate profitability. I think not so much just now, but more importantly looking forward their forward guidance I think the bars got to be you know reset a little lower just given this economic You know pessimism going forward I think it's going to be a struggle for earnings reports really to outperform And so we've already seen that yesterday remember we're talking about Morgan Stanley at the weekend issuing a note Talking about how they're the least exposed to equities in several years And I kind of agree with that So I think a lot of this is we've hit that all-time high, of course. We got up just above three thousand Last week, so I think maybe just a bit coming off the table on the back of that But looking at this technically you can see the range that we're trading now We had a brief test very early At the entrance in European morning, which was the actual payroll low, which was 71 and a half in the S&P 500 You've then got the the overnight low. We can see technically we broke that fairly obviously Liquid conditions overnight comparative to the normal daily session in the UK Europe in the US Of course, so we shot lower and so that now is the the kind of price range of this morning to keep an arm before the US come in 64 and a half on the downside to then the S1 turn resistance level now and above there 71 and a half any break of these levels though looking towards the US session today Then certainly S2 Would be an area of support and another target on the downside So 59 to kind of 61 that of course starts to bring in the low point that we had on the second of June And then beyond that point you've got that area where you had the close of D The session what two weeks ago the initial pullback on the the gap up on the G20 the pullback before then the eventual push higher So that level as well Down here around 55. I think it's going to be quite a key level. So Yeah, I don't think it would be too unusual for the S&P to kind of drift down if we did break that range I don't think at this point until power speaks. I think that the bottom end of that at 54 and three quarters I think around 55 would hold would be my my guess Because a lot of focus of course will be on drone power and just to be clear power is speaking today But he's talking about stress tests Highly unlikely. I feel that he's going to say anything of significance I actually think that he'll he'll very much just be very specific on his topic because he'll want to Not share any real Information ahead of the the testimony to the house financial services committee tomorrow, which is going to be the most the most important speech You'll give this week So yeah equities again a little soft No one headline is really a just the kind of state of play I think global sentiment is tilted slightly to a negative sense on the global picture from the moment So on that regard oil is a little lower Albeit fairly sideways overnight, but down 23 cents The only thing that's not really I guess playing to that same tune of that negative sentiment is that gold and T-notes are both marginally lower The Dixie though is up one tenth might explain maybe a little bit of the weight in the gold move But currencies is the one I really I want to focus on first to go through the news headlines Because cable I was just looking at and you know looking at cable just to explain the the price movement of late That was non-farm payrolls. So obviously we saw a big Jolt higher in the in the pound on the back of the the headline response and by his by-product main cable just popping lower and Overnight breaching the support point which really held up the price action from yesterday So as Europe came in snapped through that level in the respective s1 on the pivots Targeting down then the s2 which of course was also The low point that we had from the post a payroll Initial aftermath if you like so bit of support found around those areas I'd say that will be the near-term target at the moment I think what's helped the initiation of the break this morning though has been some of the headlines but technically Obviously getting to a very interesting area for the pound because that initial low that we printed Remember back on the 10th 11th of December. I think that was when Theresa May Survived a vote the first vote of no confidence in her leadership Which she survived but that was when the pound hit its lowest point I think that was the 11th of December if I remember rightly and in the futures market We're only about 50 pips away from that point and you can see if we were to breach that downside level Well, I guess down here. I'd probably be looking at that 10th of 7th of April low 2378 but obviously this starts to open up the trapdoor a little bit in terms of Price areas of kind of technical relevance to the downside So, you know, why is the pound a little weak? Well, first of all before I jump to this headline I think you've got to look at the UK economic state at the moment now Obviously, we know the political risks surrounding no deal Of course Increasing because it's more likely than not that Boris Johnson will become prime minister It's more of a formality over the coming weeks week of the 22nd of July It's when we were looking out for the the kind of results from the Tory contest They are having a live debate tonight on the ITV. I think it is so if you wanted to watch that but economically is what I want to focus on because if you remember last week we had the series of UK PMIs and Manufacturing and construction are in contraction Services is, you know, fairly tame at this point pretty much in stagnation Now you've got UK shops suffering their slowest growth on record in the 12 months to June This came out overnight from the BRC It was the slowest increase since records began in 1995 Retailers also had their biggest annual fall for June on record down 1.3 percent. Obviously, Brexit concerns mounting But however on a year-on-year comparison, I would say you should take that with a pinch of salt Remember what was happening this time last year? we're in the midst of a heat wave and England football team were in the semi-final so as a year-on-year comparison, obviously last year retail sales were way higher for those those Seasonal factors of weather and the almost Unbelievable factor that England made it to the semi-finals. It's probably more surprising But the point being that I think a year-on-year comparison is unwarranted I think that's a bit sensationalist But not detracting from the point that average sales growth over the 12 months to June is the weakest since 1995 a thing is quite a telling point of the state of things at the moment so weak PMIs weak performance by Spending from consumers and this is all coming with UK GDP due tomorrow Where the UK economy probably shrank for the first time in seven years? Now just have a look what this is like So economists are predicting for tomorrow's Second-quarter first look at the monthly GDP figures. They are anticipating a contraction of point one And as you can see from that little let's call it orange downturn here that be the first negative growth in the UK since going all the way back to the end of 2012 so definitely Although you know Brexit and its weight on the economy has been a real slow burner This idea I think of just kicking the can down the road as we have done from March to October certainly does have consequences on you know foreign investment on company's appetite because of the increasing uncertainty about the actual dates and Outcomes of this political situation and so this is really reality hitting home in my mind of what Brexit really means for the UK economy And this is not even Yet overlaying the risks increasing of a no deal of course under Boris Johnson So I definitely think the pound this week does need to be watched very closely I think the one saving grace that the pound might receive here is that if Jerome Powell comes out tomorrow and Says you know what actually You know we shouldn't really look too much at that one-off jobs number The US other data is really something we're monitoring quite closely Then with that being said if if that 50 basis point idea comes back on the table and the dollar starts Rewekening reversing some of the strength that was seen on Friday Then well we got a we got to keep a real sharp eye on that that level of the December low in cable because that breaks You know I don't see much in a way of stopping that from you know quickly falling another point Over the following day or two on the back of that breach of such a significant support area So yeah, definitely the pound one to watch going forward Couple things that I did share this morning Was an excellent research note from ING where they give a monthly summary of the current outlook for every major Central bank including the PBOC the BOJ the ECB the Bank of England and everyone in between So definitely if you get I'd say 15 minutes spare today. It's definitely worth a read for UK what they did do which is very useful is a kind of crib sheet of latest Brexit scenarios and as I've always tried to stress to you guys when you're trying to Kind of fathom. What is the markets? You know base case. What is this herd mentality? It's not the ING are right and that their percentages are accurate But they're a fair reflection of what them and then I would look at other banks are thinking about the likelihood of the outcome for Brexit What's great about ING is that you know, they put their neck on the line They put the percentage probability, which is very helpful for ascertaining that hierarchy of at this point They actually think parliament forcing a new general election is the highest probability followed by then a potential revamped deal of I'm assuming to ease a maze withdrawal bill that failed what three times Good thing about this as well as you get an associated market reaction So in summary a second referendum would be the most they foresee as being Pound-friendly, but that would mean an article 50 extension of at least six months Remember our briefings from several months ago Technically from a legislation point of view for a new referendum to happen There's a lot of different things that need to occur Where the Electoral Commission needs to get involved other parties need to then campaign over a period The public then needs to be educated about it and and overall it's a very long timeline to deliver a second referendum Hence the reason why that's much longer, but long story being short I would definitely again be reading these types of things to give me a better idea as to You know cement your thinking about the potential outcomes and reactions in the market now the idea of a second referendum Could gain traction or more traction Not because we kind of know the state of what the Greens the Lib Dems want the idea is well Will Labour ever commit to a second referendum because if they did that could create quite a meaningful shift In regards to the prospects of a second referendum becoming a reality and one thing here is Labour's trade unions Yesterday according to leaked documents The British trade union leaders linked to the opposition Labour Party have agreed to back a second referendum on any Brexit deal Reached by the Tories or a no-deal exit, which I think could be quite a substantial thing that could At last force Corbyn's hand to commit to something rather than trying to appease both sides of the argument And I think that would be the most compelling case to run against a more hard Brexit lines Boris Johnson led conservative party So definitely one to watch If that was going to be the case Definitely could be interesting on the prospects obviously a second referendum Typically as seen by markets as being more pound friendly in terms of what that could then eventually lead to of course Quick look at some other things ECB this is much more bigger broader picture So I won't dwell on it too much, but a lot of talk a recent economist survey last week indicated that Most banks believe the ECB will cut interest rates by 10 basis points the deposit rate from minus point four to point five percent In September of this year given the current economic State of the eurozone and the forward-looking soft indicators looking for further deterioration and so here what they're also anticipating remember monetary policy is now kind of Multiple tools that can be deployed interest rates is one But when rates are already negative and what could be 0.5% then the obvious choice is then restarting quantitative easing Now to give you an idea Latest commentary here is Goldman Sachs and Morgan Stanley are predicting the ECB are going to restart QE So let me just show you this. This was the ECB's bond buying program of recent years, which of course Stopped at the beginning of 2019 as they unwound the active nature of purchasing of bonds month to month Now they did this in a very graduated fashion from 80 billion at its peak To then 60 to then 30 to then 15 before then, you know turning off the active nature of buying of bonds now talk is To give you an overview Goldman Sachs They're anticipating monthly purchases of 30 billion euros for a period of nine months to be initiated later on this year Morgan Stanley looking at 45 billion euros a month as early as Q4 with an announcement in September September to kind of front run the actual initiation of QE and BNP Parabas the French Bank Suggesting ECB one out study five to 40 billion euros monthly pay to purchases in December for six to nine months So point being here as a growing chorus that QE in the eurozone is going to restart The general concessions seems to be towards Q3 for signaling Q4 for activation In in that sense. So definitely these are things when ECB speakers are talking. I'd be I'd be I'd be looking for One thing to be aware of of course for those a little bit more clued up on the ECB The whole point here with the QE program is that under the current Restrictions or parameters that define the purchase program with the ECB The ECB cannot buy bonds forever because that would be in breach then of the idea that they're basically Financing governments, so there's certain parameters and thresholds that need to be adhered to as well as capital key Waitings to each country in the number of bonds it can buy Hence the reason why these banks are talking about an area of 30 40 billion and not You know pumping it right back up to 60 80 billion because ultimately they could probably only do that for a couple of months They will hit these these barrier limits if you like Not unless they were to reshape the entire kind of deal in that sense of how QE is conducted So yeah a couple things to think about last few headlines As I briefly mentioned at the beginning the US State Department has approved possible 2.2 billion dollar arms sale to Taiwan Those who know their Chinese politics will know that you know Taiwan is a particularly contentious issue for the idea of the one China policy of which Taiwan wants its sovereignty But China sees Taiwan as Chinese territory and so therefore should be governed by the main state in Beijing So the fact that the US are gonna sell Taiwan over two billion dollars worth of arms equipment is Only going to you know stir the horn its nest if you like a poking China in the wrong way When you're trying to deal with them over in negotiation on a bigger level trade talks at the moment, so those talks are Recommencing I believe even today or this week And so you know definitely you'll be interested to see what China's responses to this because they they definitely won't be pleased by This latest development Okay, quick look at the calendar. What have we got today a? A reminder here that the market this morning is moving very much on just general Sentiment rather than a specific one headline For this week the biggest event is Jerome Powell speaking tomorrow afternoon So much like I would say the build-up in anticipation to a big data release Kind of like in a micro sense to build up to non-farm payrolls the market waits then it sees big movement after That's going to be key tomorrow So could be a likelihood that definitely there's some key technical downside support points across different assets That you need to keep an eye on that could lead to a further continuation of this this trend that we've been seeing lower equities Maybe a flight to quality in terms of into the dollar and weighing on the major currency pairs and so on but If given the magnitude of tomorrow today could well start to to die down a little bit is what I'm saying So yeah if within without the the technical breaches We could get a fairly range of session Because of how important that speech is tomorrow and again the reason why is because we're looking for confirmation Of what is the Fed stance given the fact that we seem to be heading towards potentially a more aggressive 50 basis point cut potentially but that got wiped off the table by non-farms is The market right to remove that option and hopefully we'll get clarity not only from Powell If you remember there's five other Fed speakers also talking on Thursday Which is part of the classic kind of contingency planning just in case the market misinterprets What Powell says on Wednesday in his first testimony so today this morning is very quiet There really is nothing on the docket not until this afternoon where again, there's no major 130s coming out of the States NFB's business optimism index is not really a classic market mover Nor is jolts although it has been a typical Or a previous favored number that the Fed would look at but not so much these days I would say and then the API Infantries of course done until later on this evening So the one thing I would keep an eye on is Fed speakers Let me blow this up a little bit. You can see you've got feds Powell 145 bullard at 10 past 3 Bostick and Qualed for later on this evening. What I would say here is Powell even though he's important. I would find it highly Surprising if he says anything before the key testimony tomorrow So I'd very much although I would keep an eye and ear out for Powell at 145 I'm almost entirely sure he will stick Specifically to the subject of stress testing which he's talking about today rather than anything about the economy and monetary policy Okay, that's it from me. Let me hand you over to mr. North and I'll wish you a good day. Thanks very much Morning guys. We've all had a good morning so far Start off with the with the Dax as and mentioned this morning push it down to the S2 we've had a bit of a snap back come back to What was the previous high of the Asian session yesterday's low as well that offered a good resistance point? To offer an opportunity for the sellers to get back in again There's also a key level that we had back from Tuesday last week that gap feel we're still gonna be I'd up by people in the future. Let me just bring that in to the left-hand side of the Right-hand side of the the cameras are keeping an eye on that and And he break through there could see you know further push lower. However, that is obviously quite low down has to be said So yeah keeping a close watch on the proceedings Are you know as we're now half hour into into that open having a look into the currencies and with the pound under pressure this morning? Where could it go to obviously the the key support being tested now from last week's low To the upside if we can get a retracement Be iron up the low that we had from yesterday, which is around the S1 So a nice area where you've got your two resistance points I'll just be a bit careful of how it gets to there because you can see really the move started earlier this morning So around the the lower points around here in this zone from we call that 125 46 So if you were to get in around the S1 area, you might just want to stagger the entry towards that price I know that might mean a bit too large a stop if that is the case maybe yesterday's low stop above This 46 level might be more appealing To get in if we get a retracement, of course, it's getting a bit choppy Around here you can see on the on the five-minute good first reaction to the yes to as you'd expect And we're sort of coming into this new range here So even if we were to get a push above you can see that might mean that the S1 which seems now a bit middle Nowhere when we lower the time frame down might be that more bit more preferable to look towards yesterday's low and also Around 46 where we had a decent Breakdown this morning euro Got the the comments the stories circling about new Round of QE has this kind of way on things where you can see this morning We're hitting that third bottom from Friday's low yesterday's low today's low I'll see with the S1 there you could for sure expect some support which has come in Quite a small quite a small range though. It has to be said and I think if you're looking for For the opportunity either a break of all of this to then come back and test it You know this for me would be something to look out later in the day something like that or if we can get a Decent trend line. Obviously, we've only got the two tests there Maybe the push higher at some point but even saying that you can see the pivot Along with some resistance points. Yes, they may well look to to come in and hold progress there So euro for me doesn't look too appealing at the moment If we were to get a decent rally higher to towards yesterday's high and the R1 There might might be a better opportunity, but at the moment small range, but you can see Once move things across just perhaps why we are slowing up a bit around this this area just below where we're trading you've got the the low from the 19th and the 18th just a few pips below that air Area as well. So euro is getting squeezed in from from both directions Maybe the opportunity comes later on in the afternoon Should we get a push higher or break all of that support as well? I'm look at the Aussie some decent opportunities in the Aussie as of late with these trend line breaks You can see yesterday that happening in the morning. You have the overnight trend break here as well Which has led to a further push down. It's offered quite good Opportunities a couple of times on the S1 retest. It's it's found resistance However now being quite low and some key support just a bit below where we're trading funds again move that above the camera you can see This whole zone going back to the highs that we had back on the morning of the 21st the low of the 25th Five tick range or zone where you could expect some decent support break below there And they'll see price could push to the downside further. However already below S2 Whether you would want to get too involved in that if that was to happen today Similar to the euro in that price just getting squeezed from the upside Following these these trends while they're not amazing You can see an opportunity could come on the break of that just being aware Of course of any of the previous lows that would offer a bit of resistance as well Opportunity wise if we were to push higher Certainly looking at a retest of 69 83 a no long way away, but potentially in the afternoon you can see this area hadn't necessarily been retested So I'll be looking to see a price can come back to there to of course find some resistance However, if we were to push on and this could be any market if we do get a really Clear break of this trend, of course now that resistance point you would want to leave alone So if we were to break this trend line with some speed, I would just remove orders and Effectively that trend line has changed a bit as well However, you can see retested the trends higher up could also offer some resistance So for now as he does seem like the opportunity should be to to get short unless these trend lines really do break Speaking of trend lines the yen is Similar to Aussie in that the opportunity came Yes, they follow in a break of that in the afternoon You could argue we again got a bit of a breakdown just down just recently all of these Working quite well. I know this would been early in the morning along with the previous highs of the day Lowes of yesterday as a good resistance point. We're just testing the low now So opportunity for resistance above where we're trading I'll be keeping a close eye on this point here as you can see what was the trend line break What was the area support around quarter past seven and quarter to eight? Around 92 37 and a half that would be somewhere. I'll be looking for some resistance if we were to push lower Where could we come to and of course the dollar now strengthening again against most of these pairs you can see Well, I guess it's got a bit of a room bit room to go really what could stop it is Equities if they were to push lower Understand me that first test of that load just holding up quite nicely. I think opportunity wise Retested that every looks quite interesting should we get in and for that small stop don't need too much in it Maybe you want to protect it by having it the other side of this trend line as well To to get in target in the low good risk reward on that as well moving over to US equities We have drifted down off those highs and I wouldn't be too surprised to see that Continue, I think to want to get long you've got to find out where maybe these lines in the sand I know people were looking at that trend line break and Yesterday and you can just see how messy that was you had a brief go at it quarter past five I mean the target would of course have to be a swan So probably got stopped out the first time risk or doesn't make sense and later on it find support there So bit messy on that. However, if we were to to push higher at some point I mean, it's not not great really on these trend lines Have map marked up and we could argue this one's probably the the better one starting from yesterday morning's high at nine Been quite well respected. So long above there or and yesterday's low You might see things really start to push higher But for now, I think as long as we remain below 2973 the short might be that the preferred option As well and you can see this trend from the low. We are just Making higher lows but a break of that and you could absolutely get a further push down And then suddenly you're looking towards the s two levels and lows that we had from the second so to Tuesday last week as well relatively quiet though for now after you know, the Dax did push lower Which also dragged us equities to an extent. I'm gonna look at golden oil Just to wrap things up gold relatively quiet in a bit of a range pivot Looks quite interesting from a technical point of view 1400 the handle previous highs from yesterday, however Also some resistance just above that so as a zone as it goes. It's relatively big about two dollars So picking the entry there you have to be a bit careful more waiting to see what happens around that point And also whether you would want to go short there or not for me would depend on what happens Or what would happen how we get there? How do we break this trend line? Is it really aggressive and therefore actually the longest the opportunity to the downside you can see we haven't had a third test Of this trend line here, but the interesting see what happens for that It could well be that the opportunities are the brakes either way, of course though decent resistance points above the The top trend line of the pennant and decent support you could argue below that as well That's where I would be be looking if I could choose only one trade I think I do like the the short from 14 0 5.3 nice on the pivot yesterday. We didn't really get a full retest of that whole area 14 0 6.1 and 14 0 5 and a half I would quite like the look of getting back in again You can see really nice support before that breakdown could that happen today. Well knowing gold it It could happen in in in 30 minutes or so, but I don't I don't necessarily think that will happen today wrapping up on on oil Tight range tight range key support being tested all throughout this morning and yesterday You can see quite wiki on that. So if you were looking for the breakout yesterday, which is of course non farm payroll monday The post of that is is always unwise. You would have got your fingers burnt a couple of times You know, this is now a zone now about an eight tick zone wait for anything to happen to the downside That would have to clear and even say in that the next key support is is 12 ticks below So does the risk for water that really make too much sense? We are just getting squeezed In each each of the days range is looking quite small I mean it doesn't look too appealing right now unless we were to really break either way I'll be interested to see what other people think about oil for me. It doesn't look Too appealing I would say right now unless maybe break retest to then get into to attempt to to go in either way on the break of the range Whether that's going to happen today on on Tuesday I'm not too sure the data calendar Again, not massively Busy if we just have a quick flick back to that you can see Really the only things that are going to move from a data schedule Well, I know we're just talking about oil there. So the api before that a bit limited although obviously uk conservative stuff on iv the Debate that would obviously be something to stick around with pound actually again just testing that low and then the speakers as well but in in summary of everything the pound under pressure Keep an eye out for euro related ECB ECB QE chat China US trade talks perhaps just Weighing on things as well and sentiment the s&p and the dax just Coming back down to to lower levels and actually the dax just breaking that low. So remember the the gap feel Almost almost happening. So Keep an eye on this because obviously the idea would be you'd have a decent reaction of people would be looking to take profit and Um, we'll go long so quite a key level coming up there Just below where we're trading and also Calendar wise i'm going to be expecting too much other than maybe the speakers but as and mentioned where we're power speaking um At a stress test discussion Unlikely to really move markets too much. Anyway, key level coming up on the dax just testing there now That breaks you can imagine s&p would would also follow suit with US equities Down on nasdaq. Of course doing the same. I hope you all have a good morning. Good trading day And i look forward to speaking to you all later on