I'm here in the Okanagan today. Beautiful Okanagan today, as you can tell. We've just opened this high-speed charging station right behind me. It's right off the highway, so it's really easy for people to come. And with BC Hydro's work, the provinces and the District of the City of West Kelowna's work, it's going to charge cars in 30 minutes, so it's a really fast station. And, you know, lots of other things going on in Kelowna. I stopped in at the Kofi Conference, which is the Council of Forest Industries, talking about how important forestry is to our province. It's 150,000 direct and indirect jobs. And so many communities really depend on it. We've got to keep forestry strong. We've got to get our softwood lumber agreement settled with the United States in a way that's fair for BC, because we want to keep people working in British Columbia. It's a sunrise industry, not a sunset industry. And it means, though, we've – government needs to be there to make sure that we're supporting forest workers.


unrecognized foreign currency firm commitment is very similar to something called purchase commitment under US GAAP. Now what is a purchase commitment? So this way maybe it will be easier for you to understand this concept. It's when you make a commitment, it could be signed, it could be oral, whatever it is, but you make some sort of a commitment and that commitment is firm. You cannot basically back out to acquire goods or services from a supplier or to sell goods or services for a fixed price. So basically you logged in your prices. And what happened when you locked in a price to buy or sell something in the future? Well, the price could change. And that price, when that price change, it could harm you. So let's assume you wanna buy something and you log the price now at $100, you lock it. You have a firm commitment. Let's assume your textbook. But at the time the semester starts, the textbook are selling for 120. You did good, you locked your price at 80. Let's assume the textbook are selling at $80. Well, you didn't really do good because now you have to buy it at 100 and the current price is 80. So how does firm commitment, how does firm commitment factor into this whole picture? How does it factor into this whole picture? Well, what's gonna happen now?  So you might sell goods and you may be receiving foreign currency or you might buy goods and you need to pay in foreign currency. But what's happening here? You did not really buy or sell, you just made a commitment. So it's unrecognized means, unrecognized means you don't hedge the item. You don't have any asset or any liability on the books. So you don't have a receivable or an asset exposure or you don't have a liability or a payable exposure. You just have it and you made a commitment. So what you're doing here is you're hedging your commitment. You're trying to protect the commitment that you make. How are you gonna protect this? Okay, so we're gonna be using a put option in this recording. Before we proceed any further, I have a public announcement about my company, farhatlectures.com. Farhat Accounting Lectures is a supplemental educational tool that's gonna help you with your CPA exam preparation as well as your accounting courses. My CPA material is aligned with your CPA review course such as Becker, Roger, Wiley, Gleam, Miles. My accounting courses are aligned with your accounting courses broken down by chapter and topics. My resources consist of lectures, multiple choice questions, true-false questions, as well as exercises. Go ahead, start your free trial today, no obligation, no credit card required. So the best way to illustrate this is to just go through an example, but before we go over the example, it's fun to make sure we all understand how fair value hedging work. The gain or the loss of the hedging instrument is recognized in net income. The gain or the loss of the firm commitment also recognized in net income. So everything is recognized in net income and the accounting treatment requires measuring the fair value of the firm commitment. So we have to know how much is the firm commitment and recognizing the change in the fair value in net income. That's fine, we already said this. In reporting the firm commitment on the balance sheet as either an asset or a liability. Sometimes you might have it as an asset. Sometimes you might have it as a liability. And how do you measure the fair value of the firm commitment? Well, you could use either the spot rate, spot exchange rate, or you could use the forward rate. Now, on the prior example, we used the forward rate and this example we're gonna be using, I believe the spot rate. If I remember how I set up this problem, okay? So let's assume Eximo purchased a put option to sell 1 million euros on March 1st, year two at a strike price of $1.50. So this company, what they did, they received an order and they accepted the order and they're gonna deliver on March 1st, they're gonna deliver the goods. But what's gonna happen, they receive the order December 1st, but they will not deliver till March 1st. So what's gonna happen is this, they made the commitment December 1st that they're gonna have, they will be receiving the money, they would receive the 1 million euros, euros actually, it's not dollar, they would receive the 1 million euros, March 1st. Okay, this is when they deliver and they would receive the euros immediately. What happened here is they made a firm commitment and they expose themselves to foreign currency, but this is unrecognized foreign currency commitment. Why it's unrecognized? Because they did not deliver, they don't have a receivable. So therefore to protect their position, they bought a put option to sell the euro at $1.50. Now the premium for such option we have to pay a premium. If you want to buy a put option, there's a premium, is 0.009 per euro. We have 1 million euros times 0.009.  Why do we have come up with $9,000? Well, to have a put option, it's gonna cost you money and that money is $9,000. Therefore you have come up to $9,000. Okay, with this option, now just listen to this statement, listen to me carefully with this option, the company is guaranteed a minimum cash flow of $1,491,000. Why? Because if the price of the euro is below $150, if the price of the euro drops below $150, they can sell the euros at $150. Now if the price of the euro is $155, they're like, okay, we're gonna let the option expire and they will buy the, they will sell the euro at $155. So why $1,491,000? Because if they sell the euro, if they sell the euro for $150, they're gonna receive $1.5 million, they're gonna cost them $9,000. Therefore $1.5 million minus $9,000 is $1,491. And this is the minimum they would receive, okay? So the company elect to measure the fair value through the reference of changes in the US dollar spot rate. So for this example, they're gonna be referencing the spot rate rather than the forward rate, and you have to document this. You could use either the spot rate or the forward rate, but the company will have to determine which one they want to use and that's part of their documentation for the transaction to be considered hedged accounting. And this is what we talked about at the beginning of this chapter. In this case, the fair value commitment must be discounted to its present value and the fair value and changes in the fair value of the firm commitment and the foreign currency option are summarized as below. So let's take a look at the changes and make sure we understand what we are giving here. So on December 1st, when we made the sale, on December 1st, when we made the sale, the option premium paid 0.009 and obviously that same day, if we paid that much, the value is that much. The foreign currency option is valued that much. And the spot rate, this is what we're using is $1.50. This is what we'll be using to measure our firm commitment and to measure the hedging instrument. By the end of the year, the premium is 0.006. So the premium went down 0.003. And this has to do with the time because as time passes, the always the option goes down in value. Therefore, the change in the fair value of the option is negative 3000. So the option itself lost 3000. Now we made the firm commitment. We've said we're gonna be receiving 1 million of euros and when we made that commitment, the rate was 1.51. Now guess what? The rate is 1.51. Oh, sorry, when we made the commitment, it's 1.50, when we made the commitment. Now it's 1.51. What happened to our commitment? If we receive the money today, we receive an additional $10,000. So our firm commitment, in other words, went up in value. How much did it went up? It went up 10,000 because then we would receive 1 million 510 if today we are closing the position and receiving the money. Then we have to discount it at the present value. Therefore, the fair value of the firm commitment is $9,883. Okay? Then on March 1st, when we actually got the money, the premium actually went up. The option premium went up. Now your premium is worth more. Now we might say, why? Didn't time expire? Shouldn't it go down? Yes, the 0.006 really went away but what happened is the spot rate, the spot rate of the euro fell below what you can sell the euro for. Now the spot rate is 1.48 and you can sell your euro at 1.5 because of this option. Well, guess what? The option premium is worth 0.02. It went up in value. So the option went up in value, went from 0.006 to 0.002. That's going from 6,000 to 20,000. So that's a plus 14,000. So on the option, we made the profit up 14,000. And the reason I'm going all of this in detail because I'm gonna show you the journal entries in a moment. But the firm commitment went down. Why did the firm commitment went down? Because if you did not have the option, you would only receive 1,480,000. If you did not have the option, therefore you would receive $20,000 less than $1.50 when you actually enter into the contract. So your commitment went down in value. And notice, the option and the firm commitment work the opposite way. If one have a loss, the other one will have a gain. Now the best way to do this, as I go through the journal entries, I show you the big picture here, just copy this information down and create a T account to keep track of what's going on, especially with the balance sheet account. So let's start with the transactions step by step. First, we bought the currency. We bought the option. So we paid $9,000. We created an asset called foreign currency option. Remember, at the end of the first year, the euro went up to $1.51. Therefore our firm commitment went up, I remember, by 10,000, but we discounted, it's 9,803. If I was writing this book, I would not use the present value because it just had more complication, but it's okay. So now we have an asset. We put an asset on the books and we have a gain that goes into net income. Now remember, we had the gain on the firm commitment. The option lost 3,000 because of the time value of money. Therefore we debit a loss and we credit the foreign currency option. We reduce this asset by 3,000. So simply put, here's, let's summarize what we have from an income statement and balance sheet perspective at the end of the year. On the income statement, on the firm commitment, we made 9,803. We booked that much of a gain. On the option itself, we booked $3,000 loss overall. Copy this number down. For year one, we have a profit of $6,083. Now our balance sheet, our cash went down by 9,000. Our foreign currency option is six. Why is it six? We started with nine. Then we reduced it by three. That's why it's 6,000. That's the options value. The firm commitment is $9,803 and net income goes into retained earning to balance the other side of the balance sheet. Now, here comes the, here comes, we did December 31st. Here comes March 1st. Now here comes March 1st. Well, guess what? Remember our commitment. We have a loss on our commitment and we have a gain on the option. Let's go ahead and book those. So on the commitment, we debit a loss on the firm commitment and we credit the asset. We credit the asset firm commitment. So again, keep track of the firm commitment. Now, here's what happened. Firm commitment, you had $9,803 debit. Now you credited, you credited $29,000. Now you're gonna have a credit and an asset account. That's okay. Just keep track of it because we're gonna be closing the transaction soon, okay? Then you have to book the loss on the firm commitment. Now you have to book the gain on the option itself. The option have a gain of $14,000. Well, you debit foreign currency option. Your option went up and you credit for gain on foreign currency option, which is a gain. Notice this is the loss and this is the gain, okay? And you book the gain on the option itself. Now again, if you also wanna keep track of your foreign currency option, that's not a bad idea, okay? The foreign currency option, remember, it started at nine, went down by three, now went up by 14, started by nine, started for nine, went down by three at the end of year one, and now it increased by 14. Why? Because the value of it went up, okay? So now you're looking at $20,000 in foreign currency option, okay? Then you receive the money. When you receive the money, the exchange rate is 1.48. You debit foreign currency, $1,480,000. You receive the million, you book your sale. This is March 1st when you actually made the sale. Then you're gonna take your foreign currency and transfer them into $1.5 million in cash. Why? Because you have a put option that's gonna give you the option of selling them at 1.5 and the rate is 1.48. You're gonna use the option, okay? Then you would remove this foreign currency because you're gonna give up your foreign currency. And now you remove the foreign currency option of $20,000. You have to remove the foreign currency option of $20,000. And let's take a look overall what happened throughout year two, just to kind of see what happened in year one and year two. Then again, before we just the last transaction, you remember we had a firm commitment, a credit balance of $20,000. If you kept track of your firm commitment, you had a credit balance of $20,000 you debited and you transfer it to net income. Therefore, your net income will go up by that much. So let's see what happened over a period of two years. For year two, let's talk about year two. Year two, you have sales of $1,480,000. You had a loss on the firm commitment for year two, $29,803, gain on the foreign currency option, $14,000, and adjustment to income when you close your firm commitment, you have a gain of $20,000. So impact on that income in year two is $1,484,197. Remember, the impact of income in year one, let's go back and get that number, it's right here, $6,803, $6,803. If I take my year two income plus $6,803, if I add that to them, I'm gonna come up with $1,491,000. And do you remember this number? I said the minimum we'll get is $1,491,000. Why? Because the euro fell below $1.50, what we do is we exercise the option and sell the euros at $1.50. And as a result, when we book all the gain and the losses, we're gonna be receiving $1,492,000, which is what we said we're gonna do at the beginning, which is $1,500,000, and we paid $9,000. And by paying that $9,000, we guaranteed ourselves this $1,491,000. Now, what if the rate was higher than the strike price? Again, if the euros was $1.53, $1.55, $1.60, anything above $1.50, we would have not used the option. We would have just sold the euros at this rate and receive more than $1,491,000. That's why we said that's the minimum cash you would receive. It means you could receive more, but the minimum is you are guaranteed $1,491,000 by buying this put option. If you have any questions about this topic, please email me. If you're studying for your CPA or ACCA exam, make sure you study hard. If you happen to visit my website or my YouTube, please consider donating to support the channel. Good luck and see you on the other side of success.


Nils a nice win with the black pieces against Katrina Lano, but she seemed to have gone wrong very early on in the game Yes I mean I played a very risky line where I sacrifice my pawn structure and the bishop pair to get some Initiative, but I think if she plays accurately my initiative will just evaporate and she will be much better But on the other hand, it's I mean one I think one mistake She played g3 instead of probably e3 or b3 and after g3 I sacrificed with b5 And I think I already have quite a nice initiative So it's very tricky for white, but but should be objectively better So you think she wasn't prepared for this tricky rare line that you employed today? Well, that was what I was hoping at least so she made some some quick moves, but then she started to think for a long time So I actually don't know Six out of eight two more games remaining. How do you feel about your tournament so far so far? It's going quite well. I'm happy, but of course everything will be decided in the last two It's quite an open situation at the top. Yes, it's going to be very exciting also for me Any particular player you're looking forward to playing? No, not really anyone anyone All right, well, we wish you best of luck for the remaining rounds and hope to have you back here. Thank you very much


Good morning everybody. Welcome back to another stream. Hopefully you guys are doing great Without further ado, let's get started Yesterday was a very interesting day. It went sort of our way in terms of we went had two ideas. It went for the third Went for the third one And the third one second one rather I really sound that crocky So it's also about the possibility of Two things happening one this happening where it finds support here and Then bounces off. This was our bullish pay for yesterday All this sort of where it came into here and stop hunted. We had two levels that we were looking out for from this area In terms of trying to buy it back Yesterday, but really never did see that and I think that's just due to the fact that The government was trying to course correct against Garbage Sort of mishandled and After that it just It just went to garbage We'll go over the news and it's just the main reason you can see that sixty percent.  Oh geez.  I think yeah, it's just bloody insane what happened yesterday in terms of Uh Like all the bearish news that came out everything did come out Uh after the fact so you can see that we had the jobless data. This came out at 9 18 Uh, it was updated at doesn't and you can see where In the charts that we should have initially had that embargo left it We would have that embargo lift here Coming here price went up we commented on the fact that price Doing this is very weird and uh, if it does if it is going up like this It's only doing so so it can trap people along or that sort of swing down and Trap people along for that swing down and then from there it's up in the air because remember the goal of sort of uh Me streaming for you guys is not to give you guys all the answers just to give you guys the pieces to Uh the puzzles so you guys can figure out on your set by yourselves And I like I like that philosophy, uh philosophy I go by Because it makes it independent. I'm not trying to baby people. It's uh If I would that after just cool. I'll just have kids So, yeah, just not in the mood to baby like grown adults on how to do and run their lives That's for you to decide So I'll just give you suggestions and you guys do what you need to do Uh, and the best way to do that is under promise on things and and price will over deliver for most things And what like I say you always Try expect a potential reversal to happen Just outside stops just in case because you never know this could have just done this And I think it would have done this if uh all other things even And if we sort of came in and and Had no sort of bearish news didn't need to correct against the 5% for the sort of treasury And then maybe would have been bearish up here So we'd have had some leg room some movement But of course that's just uh, just not Yeah, really what ended up happening if we go into The charts and look at book map closely We can see that again On the way down on the way down it had spots of greens spots of greens It still was dragging itself down until here And this is where you start maybe considering entering in long then you just see this massive Wall entered here and just say oh wait something's not right. What's happening? What's happening?  So, uh, well, that'd be new york about three o'clock. Uh, which is half of the force If you sort of go back and when that new sort of uh broke and sort of go that It sort of broke uh, sort of right at the end 16 sort of really other eastern times are so it broke really late So you can see how everything sort of uh plummet Opportunity and oh, I don't say that I don't trust the banks Don't say don't say this opportunity that ruins all plans For a potential reversal.  Uh, generally I don't sort of disagree with that sentiment since it's off the opportunity to be had uh in sort of uh This downtrend again. It's something that's easily leverageable Uh If you sort of zoom out start looking at things again, we start Commenting on what people think I start thinking they're like Let's sort of go through the psychology. I think it's the interesting thing really like oh, yeah bull market. Yay bull market Where's your bull market now? I call bull. Good morning. Good morning Uh In terms of drops, uh, we're sort of again call this our second drop or third I mean if you call this first Second and this would be the third I guess if we're going to do it like that Uh, I mean, yeah, we could counter like that. I mean this still could sort of drop a bit more We've got sort of this shallow sort of presence available to us, but rich out right now Uh again in terms of completion It's got some sort of uh points where you could uh sort of uh sort of play with people before actually going up I think we call uh So we can mark out this uh start of this as your major sort of support Damn really fell from 25 back down to 19. God damn. Why am I not too surprised though? Uh visibility don't want to on these time frames there we go I remember Getting straight down. Uh, you remember saying straight down. I can't say straight down There's some people if if if I say straight down and and someone looks at me that are you said straight down yesterday? Uh, uh, it didn't go straight down. Did it? Oh Did I say oh there's a potential to do this? I have to speak very politician like I'm very neutral I can joke with you guys, but But yeah generally down down was a sentiment I did again just like being a short get some out early then ride the rest since she is is uh, what you're looking at Uh, oh, we're getting we're getting some market moves. Oh, yeah, go Just where I see Really no orders is just getting like just liquidations. I'll say we're just punishing short liquid uh shorts and by liquidating them a good golly I mean, it's not surprising. You can see how late these guys are to the party. So We obviously need to make them feel some level of hurt and Going back to sort of the charts. You can see that this is sort of london sort of stop out here Uh, you can see where london stops out. It's sort of returning back But it's just pinning so We'll see what ends up happening the thing the main thing we want to look for is sort of time frames and news for news articles On a friday, I believed like two weeks ago They didn't go straight down Like this one. Oh, it was this the Thursday Oh, all the way back here. God damn Too many fridges came and went friday friday of this one and this is the third week friday This was sort of a nice short here And then you know if you had the patience just writing it down But obviously that that's just that's just inefficient. You obviously don't want to ride a trade position that long without adding and subtracting to it Come on man. We're here to day trade You know here to dilly-dally Okay, yeah, uh before I got distracted, uh, yay that crash come, uh, uh fixed Fixed it fixed all the things. Yes Uh, we're at five percent and we talked about this yesterday and the reason why I bore up yesterday was fact that something Was a miss Something was a miss. I was like, you know what this is not holding up Uh, you might wait till next week. Uh, let's see. What's what's going this week? Actually, we'll have to check if we want to skip this week Let's let's see if it survives. Uh, non-farm payroll. Uh, it's yesterday. It's not wait. Is it today? Oh damn non-farm payroll just came out. Oh, that's big Okay, uh, let's see Oh, that's insane Unemployment's up. Okay Yeah, that kind of explains everything. Oh, no stop undoing all the things that you just did. Ah It looks like you need to go more down Uh, I mean for non-farm payroll data. This is like very shallow It's just nothing and then and that was that that was the reason behind that a small little explosion So you're probably looking at this to still continue a bit further down In all honesty if it's still reacting like that Uh anything else Or today no nothing else for today. Oh monthly budget statements. Uh These are never good. Uh, so it looks like instead of 12 o'clock for like a potential sort of midday We're sort of delaying that until one two o'clock mainly sort of to seeing that bunch Uh month monthly statement Uh, but nothing really happening either than today non-farm payroll should just continue the trend Uh considering the numbers Look a bit more and we've already showed our hands slightly by sort of uh, trying to liquidate some of the shorts at the Data change Uh Yeah, like I said, this came in late. I thought I was wondering why didn't come in initially at like this area Uh Hmm Name new york. What are you guys blaming new york? Blame yourselves unemployment rise Oh god damn Uh You can say adds are greater than forecasted it adds more jobs when no one's coming to them because no the jobs aren't paying well I think that's that's the main thing Uh, let's see pal this week said central bankers would consider re-accelerating the pace of interest rate hikes in february economic data continued to show a strong economic A stronger economy and higher inflation than expected surprise rather Uh, that led to the next obvious question. Is there a precise number of net jobs gained that would guarantee a half percentage hike in march? 21 2022 meeting It's around the corner. That's 11 days 12 days from now Unfortunately, the Fed isn't can't be boiled down to single number Uh, blah blah blah I don't think there's a precise number that will put the holes together there I don't think yeah, they're right about it not being just purely based on oh, yeah A lot of people have a large unemployment. You're getting stuff like that. I think it's more to do that Okay, we've got these guys in jobs. How long are they staying in jobs for? Uh, how how is that? Uh, are they being paid a decent living wage where they can contribute? uh Contribute and survive without uh being too reliant on other other sort of uh factors And I think the main thing with living costs living costs is just too damn high uh for most americans to survive. So it's like all this sort of fluctuations Yeah And the most egregious thing about it is uh energy companies. I think are the most egregious ones because Uh, I think most of them I think most of them stuff My book map actually suck for crypto. Let someone else do it Okay, how how badly do I suck? That's the thing Uh, in what way do I suck? The simple things book map is just there you go. Stop on push it down stuff like that. It's very simple overview There's nothing complicated. I don't try to over complicate it It's tough child. There's no secret source to book map It's just understanding circle dots Because look, there you go. There's this way all the stops get stopped out. There's the addition of lungs here So we know that's resistance there We're liquid and we know that's due to the fact mostly liquidations of this So we're grabbing liquidations on this swing here We've got non-farm payroll coming in on this high So we're collecting this early on so we're most likely trying to catch people out Then before dropping it Next level we look for is this level here Because oh just higher just because then it was sort of drag it out if we get shorts coming in here It'll sort of expand it a bit higher Then there was that and we're getting those shorts coming in really early So now we're probably looking for it to hit a bit higher It might sort of run these longs out a bit a bit more before it sort of drops it out Again, it's nothing complicated Like if I'm getting a valid criticism then yeah, sure. I'm all for it I've been doing it for long enough to know You know that I'm mostly right No, I'm all for criticism if you say I'm suck. Yeah, cool But you've got to say why I suck at the same time And there's that number here on on trend spider that we looked at on book map as the second level here 33 350 just here so that's sort of now we see those shorts coming in we can retention as this area is like, okay You know what that's that's a better level for resistance especially considering it's sort of a one hour resistance up here, but we had sort of Trade balance out here and we've got a large sort of set of volume Like again, do I suck because I don't tell you secret sources? and I don't tell you like like insane sort of uh Crazy sort of things that you never heard Because if it's that that's the case then you're just over complicating traded Trading is not meant to be complicated Going to seem complicated. That's the difference Go over yes. Yesterday. I mean yes. Yesterday's was pretty sort of came back into this sort of higher level Sort of started out at that 50% you can see where we got into that midday and from that midday it sort of had its feet up gave you sort of what for and Ideally, you're looking to be short and then you could have started stacking short really early from probably 408 and and then sort of depending on How how how bad of a degenerate you are? entering into that position You'd have been fine like generally would have been fine Or you could have waited until it fell back below for 404 to then pull it back down and you can see it ends up playing out Now it's here again same thing. It's doing the same thing as bitcoin is doing You can see that it's just trapping longs whereas this is trapping longs So once this falls down this falls down town bad That's the thing like I don't think anyone should be down bad with it from anything I say because Like I've been like let's say let's take the last 30 streams. I was I was wrong probably two times Or maybe two to three times. That's a good track record And most times I was wrong I didn't express that pity on the stream. It was just in my private life. I was wrong Because in streams, I just express the possibilities and the possibilities that you're you want to look for during your trading day Because I can't predict the future because I don't know what's going to happen 30 minutes from now I can Give you guys probabilities. They are okay. This you're looking for this if this reaction happens Then you do this it's if and statements. That's what trading is if this happens and this happens I do this If this doesn't happen, then I don't do this Like I don't know like is that complicated? Because I'm in a position where I'm telling you guys things so I have to be careful of what I say So I'm careful of what you say So I only sort of express my opinions and if and statements and give you probabilities for Uh, the other sides as well. Like, okay, this could happen. Uh, what's up? Where's your potential reverse of that? Oh, it's gonna be out here. Where's your potential reverse of that? Is that here? Okay, cool Now this sort of climbing back up again It did end up going back up because we have that had that shorts coming in. So again, you're digging deeper in nothing sort of out the ordinary again Easy to spot easy to see and we end up getting it Okay, and we're just getting anti on the shorts getting more getting further It was just looking like we're trying to dig deep for our sort of breakout traders. I think we're doing a bit too early. So I'm only reverse on this Because again the business model data, we know what happened yesterday where we start start off strong when we have that data Then why new people is syncing to people that are way Uh, unimportant went up and everything went up. So we should really be trading everything the other way Uh Let's see. Oh my god Unless it's just trying to just go off the job Like the jobs statement one's vertical line is The us uh See that's that's the thing new jobs on like sure you got new jobs and new posts available But are you hiring people do people do the people who were laid off have skills that facilitate you to uh facilitate them to be in those new jobs Or are they too or are most of them over qualified because they're mostly laid off because of uh because they were working in tech As software leads of software designers and and whatnot and they got all laid off like that uh Again, just more shorts getting stacked in at this top Uh, it's slowly building up. It's just nothing you want to reverse off of again. You never really want to enter uh sort of With conviction at this sort of time sort of better waning it off. See what we end up getting See if we end up getting a double top just to sort of uh add insult to injury for today Uh, because remember uh, this came in here everything was up then at 10 o'clock We've got a nice little pin lat lined And sort of came back into here back then for a bit so you could have tried counter this trade here if you're feeling brave, but Looking at the state of where the pressure was and where everything was it's just Wasn't looking too appealing sure that you started getting lungs coming in It's like but I didn't really sort of try and hit into this wall They just showed no conviction to try and skate for it They just slowly declined and then we had sort of that bad news coming in and then we just Never really covered Making that recovery today again as soon as you see all the shorts you can see this pushing it further further and further just bit by bit they're encroaching that And they're just hitting it up a bit higher because this is just what they do In more shorts starting to pile on the top is just on some battle of shorts People entering shorts it going slightly higher It going slightly higher because then it has new shorts liquidate it going slightly higher Until it sort of reaches a breaking point Uh, we'll hopefully get a breaking point closer to here than later Because I think it's going to be more of a time-sensitive, uh approach that we have today again Uh, 830 is usually a really nice pivot for us Uh, and other than that, I think worst case is they just play around with their food until sort of the monthly budget statements Till it totally sinks in to everybody that oh, yeah We're much worse for wear than and then we appear to be with these new job ads How's it going to extend this to uh, uh, 2700? Oh interesting I don't think that's that's a very low possibility, but it's still a possibility For that to happen. Yes, probably need to hit up into this daily resistance here. It seems pretty far Uh, but then again, we still have that uh, we'll have to wait for uh, market to open Uh, and we still have to wait for the reaction of traders coming in today See if there's any other bigger bigger news Yeah, no 15% down to like 3% okay, that's nice Uh, sure, it's a nice steady decline, but I mean 3% of employee Again 2% is usually target for most governments uh Finding us who had new jobs because a lot of people died in COVID-19 A lot of people got laid over of course new jobs will open up Kind of fizzled out Uh, but again, it just comes down to where those jobs are being uh, opened up in which sector And are they replacing the jobs that were well Of people that are fired that had to have skills that needed for it Finally getting some loans coming in. It's good for us. We've got that Enterdring to here Again, the stronger this looks up top where we have it done of longs the better we are in terms of trying to say this is more of a Resistance and we're more likely to go down than we are I think there's I mean not too much to say today. I think it's gonna be a It's gonna be a low talking day because there's not there's not much new things to add that we haven't said yesterday we know the state of You know the state of the government You know the state of everything here a lot of people just taking out uh All the things and trying to fix This massive sort of high here Since this sort of fixes then we can start looking a bit better in terms of trying to uh enter into a new sort of new run On the bull run whatever of the sorts you whatever you want to call it but It's a nice attempt a bit half-hearted But it's still it's coming to I think here we start melding out if we start going into here I could slightly look better not too good But the better numbers can come down to when we sort of hit that 2% and we start sort of really rolling that dice As long as we don't crash and then that's the main thing And if this this crash landing will cause a really great shock to all the traders here That's not really what you're looking for and it's starting to look like it might crash and have a crash landing That's something that you might want to prepare for worst case again. It's always good to be Let's actually talk about crypto because again, it's meant to be for crypto Uh, but I barely do anything crypto related because I have no respect for crypto I'm here double bottom talked about that a while back Uh about this here support you can see this is exactly what we look for when we're coming At these double bottoms This you see a nice little trap and a nice little stop out of the first one And up it goes. It's now at a high got to think of this as okay, you know what we're already here We're already up here. Uh, is there a potential where they just go back down and just close this area off? Before they look any higher or is this All they have for steam and they just go back and fall further down Because most of the things are just Ponzi's normal candles This little pin. I mean a lot of people are looking at that. Oh, yeah, that's super bullish It's like I took out the lows. It took out the high They took out the lows first and took out the highs so when let people go short Hit that into an insane little high now. It's letting people go long So we still have probably some retracement in the spot itself Before we can sort of look at maybe higher maybe 11.5 as like it's totality where it ends up sort of Going to for the third day Just finding yourself here. Uh, you could probably enter So sort of looking at that as a point to say if it looks here, you're probably looking at that as a short Uh terms are sort of trying to recover high. I don't think it recovers too well Uh Between sort of a decent sort of place means 50 percent from that sort of large structure It's just around here. So teach room to that bullish area here that we like to be buyers in so Overall looks decent. It's nothing sort of uh, too outlandish. It's just the status The conditions we find ourselves in just don't really meant well to be bullish or overly bullish So we've got to take our expectations to that Uh, I mean avax coming all the way down here sort of hit and set 50 percent of this sort of bar Coming back into sort of uh, these highs here sort of closing off, which is nice. Uh, you can see sort of Uh, this goes out a lot of time frames Let's do See where we find ourselves here. It just falls below this area here Uh, again these sort of highs ending the pin Just coming to that resistance area, which is get Which is not really what we'd what we'd ideally want In terms of bar wise you have that early offset of volumes and we start fishing for newer traders don't really get too much So we could easily Uh insert ourselves a bit higher as you can see here. We've got we've got these shorts coming in Uh Adding at these highs so we could easily push this a bit higher to try to squeeze those out And get these sort of shorts liquidated at this area here or even stopped out Either all works. I mean just that slightly higher 2,500 there are bars or about 20 20, uh 2450 Uh, then it starts bringing this entire area of shorts under water and if that's something that we need to do Uh, and if it's something that we end up doing we'll probably end up looking a lot better, but generally I don't think we look too, uh Good coming out of uh, sort of whatever happened yesterday and coming into sort of this sort of continuation of Bad news after bad news Came that insane yesterday's insane sort of minus sort of 7k Uh does need some time mostly to correct. So We'll see if we can add some uh longs back into the market to try and correct against uh the heavy negative that we incurred yesterday And from that heavy sort of negative we want to sort of look at uh look at this and just say, okay cool ideally They would want to consolidate or want to add back longs to say Uh, because they went really crazy on this. So it obviously warrants, uh Some correction. So it could find itself a bit higher Uh if Getting these all down to bitcoin Whatever happens to bitcoin is all down to es and whatever happens to es is all down to monetary policies. So everything ends up being one cluster of Just if ands because of this happens this happens this happens and this happens and so on So that's why Oh, I always try, uh, just your focus to looking at sort of uh es or or all these, uh Or spy or anything sort of that outside of the realm of crypto because crypto is not something that's trading in the isolation Uh, and in the vacuum, there's no news and there's no there's nothing sort of bad happening So you got always look at it through that lens that okay It can tell you one thing and it will tell you things but those things have to most likely correlate with The things that happen to uh es The most part and then all chance where it doesn't correlate it'll end up, uh One will end up leading you the other and they will end up meeting together at one point and just find itself find themselves back In does look like a master sort of high volume at this end Looks like they're tracking a lot of volume there. Which is which is good But then again, bitcoin still has some steam left in it So we'll see if they just try fight this bit further And try hold it out just for a bit longer and two until sort of the traders come in at sort of 9 30 and and enter it in their positions Yeah, nothing really more to add big fish. I'll carry on with our rundown of these altcoins Again, it's just the same thing. Just understand bitcoin and you understand the old coins for the most part Stop looking for old coins that pop that seem like they're gonna pop off or want to pop off stop chasing garbage coins and trends just Just change your basics and from the basics then figure out how to do the other stuff The most you guys just want to run before you actually learn how to walk And it's just daft Yes, looks uh decent You can see that it comes in first half long comes in takes those lungs out Then pulls back up and it's already sort of climbing back, which is very nice. She's coming at this sort of 1400 support uh Want to come in here and see if it uh, which is a bit higher If we look at the four hour again, you've got that bit of volume here Same thing with bitcoin where you have that territory here of our lungs being collected. But again Whilst you have lungs you also have some people entering in at early shorts I could definitely see If it ends up extending 14 6, uh, let's just say 14 50 I just round it down just because uh, rounding it down. I usually sort of In terms of just yeah, I could I could just short throw it just sort of miss it by a bit And so is they like they like even numbers even numbers Are always very nice in terms of in their books I could definitely sort of see it, uh hitting a bit higher to what Just flash it else Again, if we start zooming in and start breaking this down, you can see where we go longs and when we sort of Wait a bit get a bit more shorts and they go that they wait for people to Think that there's a chance of it reversing here before going up higher And it's just this constant battle of back and throw You've got these shorts coming in a bit this uh, just a bit higher We're coming in at nine o'clock now We've got 30 minutes to sort of the market open So we're definitely looking for this to try and set up a nice little trap for uh, the traders at sort of 9 30 Then ultimately the dusting to sort of another trap at sort of 10 o'clock And further at sort of 2 o'clock Ending on a pin here. This is will always cause people to go short So they're shorting at what they normally would consider a retest So if we sort of come in here retest sort of this area here It'll sort of short down to here And we can probably grab these guys here They think this is going to be a retest into a breakout So they start long and a bit later at this sort of pass here Then we grab three longs uh on this sort of on the breakout here And it's sort of a nice easy get or even just under just here So between these two areas here we look for breakouts Then we come back down Any questions? I mean, I think most of this is self-suspensionary, but then again Uh, stuff I find easy most people find hard I don't know I don't know why it just is Damn zooming out. It's just a lot It shows that this entire area here Consolidation, I mean, I think we can drag up to here. There you go. There's consolidation Even if we drag it up until so this higher here is a consolidation There's where the volume has been when you escaped and ultimately coming back down If we start using this as a range Come in from here Here There you go, there's 50% where it pins to there's a drop down No, I think it's because I'm not it's just I don't know like this like It's just this is my strong suit. It's not because I'm forever Again, there's different people have different strengths But maybe yeah, and that's why I try to ask you guys if it's clear to you guys because I think slightly different Because it's just how I had to have it's just how I've had to had had to think because words are generally much harder for me to express myself so Whilst I find words difficult numbers come to me easier generally That's why I make try to make sure there's no secret sauce.  Was I wrong in my assertion that everything was going down or was I wrong because I was looking at something else that I shouldn't have and that caused me to See things Where I should have not seen things No, I'm just thinking like that helps. I think was trade Getting heavy getting these heavy strong supports. That's always nice To want to want to drive further and getting that extra confirmation from that those them having bids On top of bids here Just shows that they're potentially setting up for an extra fork a bit higher So that's something that we may want to pay attention to 2000 even just becomes our current sort of support just because that is where the majority of the shorts end up being Is our delta so that's sort of our lower bound support Higher bounds a bit higher. You can see that just by 50 though Uh, you just just have that area here and see where they start that break and that change over Uh, you you've got that Do you want to say that? Okay, there's the potential for things to go here So whilst people say, oh look you buy the retest. It's a breakout retest It's breakout people shorting the breakout Uh into the support people's shorting support then get squeezed out essentially Very aggressive on this pull down Again, I think people get a flash pins. They're getting flash red. So they're just getting trained in sort of pushing for sort of lower That push for lower maybe sort of where we have that detriment Uh, maybe look for yes Again, just try and complete this for completionary sake. If not, uh, who cares Uh We got um getting got mostly uh, most of this again just flashing people red making people go. Okay. There you go. Just please Consider shorting. It's it's it's good for you. It's healthy Uh, and uh, hopefully then we can get our retest out of this Then the only reason we're looking for a retest here is for the potential to get a double top Once we get that double top was sort of more confident in saying there's your short here Uh, other than that, I don't think we look uh too deep into today for a good short Uh, you can always long to that short just in case if it blows the top off and you go into here But I don't know that you're not really talking too fast. So, uh Just drag this to daily imbalance. There you go There you go. There's that little buffer zone Get that line tool there you go there you go slightly off I mean Just call it a difference in spread Bitcoin coming down very aggressively And finally getting a bit of bias here if we start getting your stronger bias, they'll start potentially reversing, uh trend, but I don't think they're doing that here too successfully Generally this whole thing again not many not too many buyers But there's not really too Too much of a need to strike down Uh Without increasing the amount of buyers I think a lot of people are exhausted at this point of sort of the downtrend So we've got like a lot of buyer exhaustion I think coming in A lot of people are more willing to be sellers at this price point Especially considering I mean there is bearish news there's a ton of bearish news And and that's that's just the fact that the economics not looking too great No, it's sort of complete that area here. We'll see if you can finally sort of claw back what we're looking for We'll just pushing it in again. This is just rounded Just waiting for that reaction to come I think we're waiting for we'll be waiting for a bit longer No new news. Uh, it's the apple downgraded to sell. Oh god damn I shared an s on friday based on like a sift to outlook for iphone cells and its modern Uh, moderating gross expectations for services revenue Uh life speeds, uh Set a price target for about 120 which is about 20 percent below its current price Oh, well, let's have a look at apple While we wait for bitcoin to make up its mind up And that's the thing I suggest for any crypto trader, uh Oh doubly god damn it so This is what I mean. Some things some things are I don't I don't think it's a sell here. I think you're too late in joining the sell bandwagon if you're trying to sell it here uh I mean if you're look if you're looking to sell again, like you see where your cells would have been ways to see those volume traps or even here but Again, you can talk it to hindsight, but not really hindsight. This is more collecting already very heavy selling Very heavy selling. So maybe with the e-s drop we can drop a bit further to this daily. Who knows uh But the way things are looking. I mean I found it sort of ultimate. It's here found some support here There's your weekly major is the other weekly major. It found support here and use this as a bounce and right now We've only really got this as a shallow target nothing sort of too Major from apple Again, not really a hard to I don't I don't think 120 should come about for 140 And uh, I mean looking at the weekly it's not too bad to say. Ah, yeah Why would you not want to sell this? It's super inflated nice little M shape here with a nice little m could sell it here How much will you get out of it? little real question And would you rather look for this to come into here again 140 150 to 140 is not a it's too bad often a drop-down Saying 120 screaming bear Bear to the wall Yeah screams a bit fuddish I mean we can have a look at whatever everyone else says like everyone else like buy here buy here They even told you to buy the high here essentially so Where they're telling you to sell and the relative short volume is low anyhow Uh, I don't think you're selling until you see that increase You can see where it increases Just off of that where you have these highs here where a lot of people are shorting Uh on this bar they get stopped out instantly then they just get left in state of confusion Happen to them again here. God damn do they never learn And when they don't short it I mean they did short here, but again it just takes them out Uh Just pure sadness, isn't that? When they where they started shorting where they got punished Uh A lot of people just telling you keep buying there's only one person that told you to sell slash hold Like and was actually accurate in doing so and some of the buying these guys are always off. I mean who is on point here Sydney whole archie from dutch bank and morgan stanley. Okay, they're the people we want to listen to Morgan Stanley telling you to buy here again Morgan Stanley hitting it correct again This is another reason like you can see who's correct and who's wrong Uh dividends Down uh I was an interesting one uh in terms of from a tech point of view uh They've got so if you don't know like the reason why apple stuck was a lightning port is because to manufacture any uh any sort of lightning ports or accessories or any Lightning chargers anything to do with lightning port. You've got to pay apple or royalty If they move to sort of type c They lose those royalties. So it's like, uh, they don't really want to do that and that's why they've been putting it off Uh, so And then they'll pull up some next, uh bs about are here, uh special special type c made for apple Only can use on apple device because If you don't know type c this was meant to be a universal connector for everybody and it's far from the perfect connector because within type c The outside could look the exact same and it will never work for your device because the pin layouts are different or you're missing pins to do certain things so it makes it Terribly easy to make an i've made for iphone type c like you only can use your special apple type c They can get they can charge people more royalty from a business point of view Sounds great from a consumer point of view sounds horrible Apple are always getting slammed as well, uh by right to repair consumers and activists I've been one of them about the terrible shady sort of things with what they do in terms of They will always try to make you buy a new one because you don't have many prospects other than selling you a new Full fat price device Yeah, yeah, oh pulling a bit down Really aggressive on the slow still sort of holding within sort of reason I want to sort of drop below here. It starts to become out of reason in terms of out of pocket We can see hopefully looking for this bar to try and correct course correct a bit higher To want to show us at least a double top on the open Try and get traders, uh, thinking double top trade, uh, or oh this looks strong. Let's buy this dip or whatnot That's what we're trying to see if we can do that get traders to buy this dip And then we probably want to short that because right now we're just seeing sell after sell after sell and doesn't look like a Getting some buys here. It's just at the bottom and it's not really moving the needle We want to move the needle away from here. We want to we want these shorts to sit And be and left here to be punished So having buys counteracts any sort of Good nature thing that this does here for us Now it's just the weight in game as most days, it's why don't we like this time time to sort of uh to stream because sure you can, uh Sure, you can sort of plan ahead, but after planning it planning takes like 10 minutes. The rest is just waiting Oh, no Oh, no God damn That's terrible more bearish news Getting these buys here getting coming a bit too sort of too low for my liking Just probably going to undercut this They might have just used The sort of delay here just to sort of reverse it at 830 or 845 rather Sometimes a bit late just sort of Waits it out again the more we're sort of waiting out here letting people buy here the more likely we're going to go a bit lower And a bit lower Will probably need to stop out here somewhere here That'll be where you're again Again, if you're looking for a long maybe There's your opportunity here, but we get that opportunity for that double bottom along here But necessarily this People coming in along here just puts it in the downer for wanting to get double top a drop down Like I said the game is just all about playing Probabilities and options and just sort of saying okay who is them Where's my one where's my one trade a day? So what if I miss like two three trades if I get that one nice day trade That's all that matters And just like try not to rush things like if you don't see something that fits your ideas just wait for it That's why number one have good good ideas and good Good techniques before entering into trades And number two have the patience to wait for those ideas or techniques This is the most boring part the last 10 minutes Last 10 minutes until market opens because you never know what the mark is going to do on the open Because what these traders will end up doing is just trading like a bunch of bonobos You know, so we might get we might get a bullish day. Hopefully we do if we do it could be nice You can see they've already backtracked all those All the all the longs are shorts that got stacked up at this high Instantly sort of come down here We're coming into here, which is what we wanted from bitcoin initially show this as a retest We know that this is comprised of decent amount of sort of sales From like straplating the data out bitcoin and you can do that if it was relative succession But are we going to get that nice dreamed of double top? Then slide down You know, that's where you'd want to go short. I'll give you the most probability to follow through for throughout the day Other than that again, everything else looks a bit iffy at best I think I'm gonna cut this Cut this here. I mean no use for me sitting here. Just running over the same things that I've said over and over again Hopefully you guys know what you guys are doing today. Again, we'll go over What I'm thinking for today once more before we conclude Again looking at this sort of here We're looking either for a double top hit out into here drop it down If this comes in short throws here Bands it down gives you that inverse low here I ended up just looking at like a massive little W essentially Where it just goes into sort of this area just different color That may be an possibility I don't think it moves too much today just because We've got we've had sort of a massive day coming out of yesterday We have lost a lot of sort of contracts and historically when we've had sort of large sort of nails Drops we at least wait a couple of days, especially considering we're coming into the weekend already Uh, I mean look at examples like this Sounds like this we we we do Little stall out for a bit and correct sort of course correct a bit and even on the high side We were course correct a bit high side course correct a bit Uh Low side course correct low side course correct a bit again We're expected to stall out some at least to uh try and fix Whatever mess it calls itself to have in the first place Uh As of right now it does look like it will give us uh at least double top or retests The retest into here Does look sort of decent or where it's coming to here Uh this sort of area here's sort of decent where we're looking to this green This is still sort of green territory Uh for us Uh, but other than that, there's not really too much to add Uh, also you guys need to be keeping your eyes on yes, because that will be your major deciding factor on today Like it is for most days and Times always make sure you know your times monthly budget coming out at two Uh usually again like we did with every other news days You see that if it was coming up, we're looking for it to come down initially We saw it builds up That news and just fall off the face of the earth at 10 o'clock Again, because we had that uh, we had that 10 o'clock news release It's just it's always good practice to Majority of the time do the opposite of whatever happens and two o'clock EST should know Uh, shouldn't be any different. So just mark that out Just make sure you have an alarm at that when price sort of comes close to that Hey have have these sort of cognizant Uh and and keep that in the back of your head that okay Two o'clock is going to be really good for me if I miss if I sleep now have a nap wake up at one You shouldn't miss too much two o'clock should be sort of Where things should start moving if they have not moved or should give you at least a good singular trade You don't have to be staring at the charts the entirety of the day. You can have it on your second screen Like I often do Okay, hopefully you guys enjoyed today's stream and I hope to get you guys Monday Thank you guys so much for watching watching like subscribe all that jazz Have a fantastic weekend and trade safe Catch you Monday peace


So, you just moved to Blender 2.8 and you can't find out where the layers went. Not a problem. In the next 60 seconds, you'll not only find out where they are, but how to become their master. Alright, let's do this. Blender 2.8 no longer handles layers the same way it did in 2.79. They're not even called layers anymore. They're called collections. Here's how they work. Now, Blender starts you off with one collection called collection. Go figure. But if you go to the top right under the scene selection and right click, it will bring up the collection menu. If you click new, it will create a new collection. If you double click on it, you'll be able to rename it and once you have more than one collection, anything you do will happen under whatever collection you have currently selected. So, for example, right now I have a cube copied to my clipboard. You can see that the first collection is selected. So, if I paste a cube right now, it will be pasted under the first collection. But, if I select and highlight the second collection and then paste the cube instead, you can see that it falls under the second collection instead. At any point, you can click the eye next to the collection to hide everything or you can click the eyes on a single item to hide things in the collection one at a time. And that's it. You now know everything you need to know about layers and collections in Blender 2.8. Hope that helps. Thank you so much for watching. If you enjoyed the video, please don't forget to like and subscribe. Hope you have a fantastic day and I'll see you around.