Hello, my name is Leon Rowe, currency trader and trading coach at trading 180.com and welcome to this week's plan demand for its and gold fundamental and technical analysis and starting off with the Fundamental week ahead in the data and you can find us on trading economics website Trading economics.com if you go to trading economics.com go to the week ahead Square tab and it'll take you to this and And so just a zoom in in a bit. So in the week ahead We've got a busy week in the US with the focus on the February jobs report Jolt job openings foreign trade figures and Speeches by several Fed officials elsewhere key data releases will cover China's inflation and trade data and GDP updates from the UK the eurozone and Japan as well. So central banks in Canada, Australia, Japan Will be deciding on monetary policy and you can have a read of the details and what really the market is expecting if you scroll further down, which I advise you to do and Getting on to some of the technicals and a little bit more fundamentals as to what happened last week and potentially going into the future We start off on the dollar index and with the dollar index Starting off fundamentally. Oh, actually as it goes, I should really talk about China, but I will talk about the Fed first before I talk about China. So, you know, Fed's daily see says more rate hikes likely in Needed to cool inflation. Yeah, so if you understand about why and fundamentals as to why a central bank has to employ measures and monetary policy to Attempt to appreciate a currency to counter inflation, which is actually inflation is the devaluation of a currency Then you'll understand why, you know, with inflation going higher You know why the Fed not say inflation isn't necessarily going higher but inflation is a bit sticky at the moment and So the Fed have a 2% target and so the Fed really want to try and push Inflation get inflation down to their 2% target But also at the risk of potentially triggering a contraction in the economy because if you hike too much Borrowing and lending becomes more expensive and it can lead to a contraction in the economy. So All central banks at the moment are really prioritizing fighting inflation and getting inflation down And so feds daily basically says more hikes are likely And so you have to kind of go with the big money regardless of what you think your personal opinion is When the smart money talk, it's it's best that you're probably likely to go with them. Of course, they're not always right But at the end of the day Personally, if that's what they're saying they're going to do and and the data supports that narrative then Pretty much that's what we have to do is, um, you know fundamentalists, right? And so federal reserve bank of san francisco president mary daily said policymakers will likely need to raise rates interest rates higher and Maintain them at an elevated level what elevated levels for a longer period of time It is clear there is more work to do daily said in a speech Saturday at Princeton University in New Jersey in order to put this episode of high inflation behind us Further policy tightening maintained for a longer time will be necessary And so that's really what the market is pricing in so the dollar should want to appreciate At least in the short term now going back to china And uh, china's economy shows strong recovery as covet zero error ends and why is this relevant really to the u.s Dollars because it actually china reopening acts as a counter to dollar appreciation and um, it's really because Um, the dollar has acted over the past, you know, a couple years as a risk of currency And uh with china reopening That you know spurs global growth, which is basically more risk on because china is the world's economic engine And if they're reopening after this zero covet, you know years of zero covet Lockdown and now they're the last ones really made your economy to come out of this This zero covet lockdown Then they're going to be investing in infrastructure projects um, and uh, and so money is going to flow into or out of the dollar typically and into other Areas, right? So um other other beneficiaries of Um of china growing, which means you've got, you know, commodity currencies and commodities and emerging market currencies um will benefit from china reopening and being more of The environment being more risk on and so money flow out of the dollar into other Asset classes, right? And so that is a counter to The dollar going higher so as much as I am You know, I've got a bias in the short term on on dollar longs for now And of course the data has to still support that narrative Once the data changes or if the data changes on the dollar Then and it doesn't support more rate hikes for longer then I will change my bias and go You know to the to the short side because overall I am actually Bearish, but in I think in the short term I think there is some dollar appreciation to come towards the end of the year the dollar should devalue And that's being supported by a lot of a lot of banks, right? And a lot of bank analysis that we do look at outside of what I show you in the video. So um going to the technicals I would expect any pullbacks to some supply zones to be um For me anyways is my is my bias. I do think now that the dollar like I said is a My bias is to buy dollars if you get a pullback and the data supports that narrative, right? The data supports higher for longer if the data doesn't support that then pretty much my bias would be a Would be to the short side. So if you are looking short going short and then trying to anticipate Maybe uh inflation coming down Then this is really the area that you're looking towards in terms of Trying to get short and these are the areas On the dollar index and again, you're not necessarily getting short on the dollar index You're just using this more as a Confluence on other dollar crosses. So if you're in a supply zone, you want to get short if you're in a supply zone If you want to get short on the dollar cross then that's really what you're looking Towards because we're in a nice area in the dollar index if you want to go long on the dollar index Or long on the dollar then you're looking at prices putting back into a demand zone And then looking at you know something like the dollar again of the dollar swiss For example to pull back into a demand zone before getting more actually a supply zone before actually getting short on that dollar But my bias is still for the dollar to at least if it pulls back in the short term to try and look for some long trades So moving on to the dollar Yen and the dollar yen the yen is something I'm interested in. I'm watching carefully with regards to They're them changing their monetary policy. They've just announced Well the likelihood of a new governor I think he pronounces his name as Udia and at the moment he seems to want to continue more of the dovish monetary policy That his predecessor Karuda has Or is employing right now, but the market pretty much thinks That that should come to an end at some point And so there is the opportunity to I think short the the euro Sorry the euro the the the dollar yen at some point now again My bias at the moment in the short term would be for the Dollar to go higher and so for me. I am looking at more demand zones On a pullback like this Even better would be somewhere around the 130s, but again that just really depends on If price pulls back But the the the bank of japan are not looking to You know change monetary policy then that will be a decent buy But I do think that the yen at some point within the next few months Is likely to be a buy, but you know, I'm gonna This is on the watch list. It's not necessary. I'm not necessarily Long or short on this pair Dollar swiss is something that I again I am actually long on or I have a long bias for now So zooming in a bit any pullbacks To a decent demand zone area I think it's going to be a decent buy and again as long as the data supports the the narrative of going Long on that dollar If you're looking to buy the swiss frank Then I think now is a decent time technically And here are some levels slightly above you To look for uh some um some buy trades on the uh on the swiss frank But I do think any pullbacks for now into at least the 0.924s Are decent areas to look for potentially a A long trade or again, that's not necessarily financial advice, but that's really where my bias would be from buying the The dollar swiss dollar cad again is something that I'm interested in the dollar being a buy the us dollar being a buy And really looking at these areas of demand For any opportunities. I think a deeper pullback into I think this zone the 1 3 4 1.347 4s would be even better and even better discount to look for any kind of long trades On this currency pair, so yep, I think that's a decent zone if you're looking to go short Then you do have Quite a wide area of supply Um in fact, it probably comes all the way up to Yeah, it would probably come all the way up to here It doesn't look pretty on the chart So when you get a situation like this what you want to do where you've got a really wide zone of supply is break that into or break that down into um where you would Trade support and resistance because you can trade the two right and you should really look to employ both It's definitely supply in and around these areas, but where exactly would the supply, you know Where exactly would price is likely to reverse One of the things you can do is look towards Levels of support and resistance in this case resistance within a wide area of supply Um But again my bias is more to the long side. So for me, I'm not really looking up up top I'm looking at really pull backs into some of these areas New Zealand dollar US dollar Um the new Zealand dollar interesting actually came down into I think this area here of demand Uh demand's quite a wide zone To be fair, actually that was right here. That's it Pulled back into this lower zone, which actually had a an area of Resistance in that just at the top of that zone right there In fact, you have to put a drawer. It's somewhere. There's a bit of a minor level right there the most recent zone was right there Because you have for example a little bit of support a little bit resistance Resistance support you can see it bounced on the top of that area right there on the top of the uh demand zone so If you do want to be a buyer of the new Zealand dollar You know now is pretty much your time Looking for pull backs into that zone if you are looking for short trades, then There's a supply zone right there And you've also got another supply zone around there now This is not a pair that i'm particularly interested in at all. So um unless for example the uh I think the us stop hiking rates and And china reopen because I think the new zealand dollar will benefit from From china reopening due to the the geographic location. They're quite close geographically to china and uh, I think they're one of china's their biggest trade trader partner. So Yeah, that's really where you're looking at either buyers or sales looking at the pound dollar and the pound dollar We do have The pound has been a really kind of tricky one in terms of in terms of sentiment and I guess going to Really kind of understanding Why I would still probably have a more of a bias to to short this To short the pound would be traders see lower peak bank of England rate as bailey says nothing This side is a governor cautioned against assuming bank of England. We need to do more money markets Trimbed bets on terminal rate in current cycle. And so the uk government bonds rally Those investors are honed in on comments from the bank of England governor and you bailey that Cast out over the pace of further interest rate hikes So short end bonds led The advance with yield and two year notes falling as much as 11 basis points to 3.75 percent 3.57 percent. Sorry Money markets trimmed bets on the bank of England's terminal rate by some 10 basis points to imply Around 77 basis points of additional hikes by the end of the year. And so What that means basically to the layman is that the money markets are the bonds bond bond traders, I guess are trimming their bets meaning that They're not expecting the bank of England to hike as much as previously expected due to the governor bailey his comments, right and so um What you know, you may see is the even though the the power may rally a little bit I still think the pound is actually A short so my bias would be to look for supply zones if we do get a rally up into any of these supply zones Because on one hand you've got one central bank looking to continue We go back to for example the fed talking about, you know Fed says more more rates are likely Right, whereas if you go to for example the pound and you have, you know traders basically saying that in fact they think that the The bank of England may not hike as much as previously expected For me, you have prices can pull back to these types of areas I do think that's a decent area to look for Short trades and even better would be something up here. But again, this would have to be data data dependent You know wouldn't just be you know just Trading that out of the blue Just because there's a supply zone there moving on to the Euro dollar and the euro dollar Again, I did say my bias was to the long side actually didn't get into this trade Because i'm already in two Euro trades and one of the things I I say to traders is not to get into too many I don't be too top heavy on a on a pair. So The the trades that i'm actually in Are the uh The euro swiss which i'm going to talk about by the way in my trade of the week. So euro swiss right And the euro cat Right at my two uh Pairs that i'm still currently in and so because I was still in these trades I don't want to add another euro trade right Just in case something happens with Uh, you know the euro right and you end up losing all three you could yes win all free But you know, it's really understanding risk Right risk is you know paramount and so forget, you know the rewards If you understand about managing your risk, you know for me I mean I will enter into three I'd have to be really bullish on on the euro and very bearish on the pairs I'm trading the euro against but i'm not even though. I think the euro should go higher against the dollar Eventually right now. Um, I think the euro is at and so the dollar is um, you know fairly strong in terms of you know, it appreciating So I didn't think that it was going to go as high and there's no point in you know jumping into that trade and so, um Yeah, but I do think overall, you know, we've been in the next coming months. You should see You know the euro at least go to 110s 115s is one of the forecasts by the end of the year and Really the the euro fundamentally does have The same issues as um the us which is basically so a high inflation So, you know, ecb half point march rate hike very likely the guard says and she also says as a quote I cannot tell you how high rates will go which sounds quite actually quite hawkish um christing the guard comments in interview with l Corero, Corero, so, um Yeah, so euro area inflation hits record. So they're gonna have to um, you know, um central banks have to Raise the borrowing rate cost by another half point at its march decision According to president christine the guard and it's very likely that we will raise about 50 basis points When asked, uh, what would happen later this month? Uh, this is a decision that uh was indicated at our last monetary policy meeting And all the numbers we have seen in recent days are confirming that this interest rate hike is very very likely and so Pretty much really it's been priced in right? This has really been priced in already. So if you're looking to kind of get into the euro Um, don't expect any massive major surprises, you know on the day Um, it the market is more forward-looking and it would be more about what the next hike is going to be Right and whether they're going to hike by 25 or 50 basis points in the future and what they say at their um at their conference and so Looking towards The the technicals. Um, I would really expect. I mean, I could expect prices to go, you know, eaves slightly lower I think the lower end of this area of this of what a price could potentially go Is somewhere around the one? Oh Be maybe the one oh threes to one or two is I think that's probably maybe the limit of the move And again, that really kind of depends on the data But I think anywhere around here Um, if you do want to be a buyer of the euro dollar is you know a buyer But is the dollar is the euro? You know is that would you really want to jump in on that euro dollar? Is it really going to go high or higher or trend if you've got two? Competing central banks looking to appreciate their currencies for me. Um, you know What you're really looking for is more convergences or divergence trades where you have Central banks one central bank is maybe hiking rates. Another one is cutting rates or one that is, you know holding rates Etc. So you buy the one that's hiking rates over the one that is holding or cutting Yeah, or you would basically buy the one that is Holding over one that is cutting for example. So, um That's the way, you know, it typically works and so um for me Although I do have a bias on this. Um, I think there are better opportunities fundamental And currency trading pairs than the uh, then buying the euro against the dollar But if you do want to be a buyer of the euro dollar, then now is pretty much your time if you want to be a seller on the euro dollar Then pretty much any pullbacks into this higher area of supply Is where you're looking at getting involved Moving on to the oz dollar an oz dollar I think the australian dollar for me is a buy again, not really against the um the u.s. Dollar, right? Because again, the u.s. Dollar is is quite strong now From a buying perspective you're looking at this demand zone The australian dollar didn't really have great numbers This week, but what was helping it is really china reopening and I think the market has looked past the current data And really looking forward to you know china's reopening which helps the australian dollar to appreciate the australian rba the central bank are committed to hiking In the next or this week and so really ultimately They are still a bank that is hiking rates and may hike at the next meeting as well. So again pretty much I wouldn't say even Stephen at the moment, but actually matter of fact, it's probably more even I do think that maybe the dollar's got a bit more stronger sentiment Just slightly at the moment But ultimately if you do want to be a buyer of the australian dollar I think now or even a dip down into the 66 50s or 66 round numbers I think it's going to be an absolute bargain And this would be a definitely a really nice swing trade to the upside once that dollar in the fed starts to hike rates And if china do reopen um and grow right this this this is going to be the trade that I would look to get into as well as some others Looking at gold before we get into my trade of the week and gold on the daily zooming out I think with The dollar actually getting Stronger temporarily We did have actually this whole area here was demand Yeah, with the dollar getting stronger temporarily, I would expect There to be at least, you know Another potential pullback if the dollar does, you know come in and the day it's forced out over in the fed continue to hike rates I would expect something like this But ultimately I think as we go into The rest of the year the next six months to nine months I think the other that gold is going to be a buy right gold is a buy If you can get gold at these levels, then maybe that 1780s 1740s I think that's going to be really nice For a potential buy And have a buy bias on this but if you do want to get short on gold and Look for the potential To take advantage of a stronger dollar as well Then you're really just looking at This area here. So basically prices will always pull back And I do think that prices may start to auction or range what big traders would call a range fair value auction at some point But I do think a deeper pullback is going to be a really nice opportunity to buy to buy some gold Or at least to look to trade some gold if you do trade gold You also do have an area that this has been Traded from a support and resistance area so that adds a lot of confluence to that zone You can see where business was being done in the past. So Pullback from that area is is decent, but um Yeah, I think any kind of buys on gold, especially around here now It's going to be where you probably want to look for buying Gold not financial advice, of course, you know do your research if you are but a gold bug then, you know Gold trader then I think any likes at any pullbacks into this zone here It's going to be the first area, but any move even below that I think is going to be Decent, I think the next area probably down would be somewhere around Here as well Of interest anyways, uh, so uh getting into the trade of the week euro swiss Frank and for me This trade has been quite profitable. I'm still in one position which nearly hit, you know, my final Target not quite so when it comes to targets What I typically do and I use the word typically right don't do it every single time, but normally I have a few targets one of them being 50 percent fair value of you know a high and a low Right high and a low expensive Bargain price if I'm buying at bargains, then I'll have a 50 percent fair value And I also have a take profit of a percent Which I might take half of that now if you're new to the channel or new to trading 180 It's one of the things I do Um, if you haven't seen this before is that I break trades up into three or four. So Um, this was really the trade Ultimately, I got in at the 90 0.9869 area, right and I had a 15 pip stop and I was probably around about a pip or two, you know Before being stopped out on my broker prices came down I thought I'm about to get stopped out didn't happen, right, which is which is brilliant now Again, I explained this in the last week's video. I'd explain it in this week's video as well So no in fact, sorry apologies. It wasn't my entry wasn't there. My entry was at the 98 72 Sorry, I had so I had three entries, right? So break your What I do anyways, I break my trade up into three. So one is there Yeah Two was the second one was at the 98 69s or 98 70s with a stop loss at the same area And then I have a third order Right right at that absolute lows, which was at the 0.9861 area, right And I'm not going to show you the exact entry on the lower time frame Right, but just know that it was a lower time frame entry and these are the entries as prices come down now Not guaranteed to get into all three. Sometimes you get a pullback or a lot of times you do get a pullback into the 50 percent You know area of where my entry and and the low of the swing would be And and so I typically, you know, do some pending orders some buy limit orders If prices do come down so I can get a better price and also as well I get heavier as prices or increase my risk size as prices come down So the top the market order, which was the 0.9878 Market order is 0.1 percent Yeah The middle pending order is 0.2 percent Yeah, and then the last pending order is 0.3 percent Yeah, so now If I get in triggered in this example, um, I got triggered into all three in this trade I got triggered into all three. So I will take the two to one On the 0.3 percent Yeah, so that's now 0.6 percent banked Now I only have 0.3 percent in the market and then I can swing trade the rest, right? So I'm swing trade in the first position that I entered up to 80 percent the second position the pullback up to Fair value, which ended up being a nice 4.35 to one trade and And so overall, yeah, um, that ended up being The 0.2 position ended up banking, you know, zero point, you know I think it was like 0.8 or 0.9 percent something like that because that was about four times Yeah, and now I've got that 0.1 percent position swing trading. It didn't quite hit the highs. It's pulled back a little bit Um, but you know, that will be swing traded and if I feel that prices will go higher Then I'll just, you know, keep it beyond the 80 percent Which I do actually think it probably will go higher So I might just take off half position there and then let it swing So ultimately this trade has netted me over, you know, one percent And you know, it could obviously Ultimately net me a bit more and so that's really how, you know, I trade any entries However, I enter break them down into either three, you know Trades or four trades. Yeah, depending on how bullish or bearish you are On a trade and That's really how it's how I manage my trades and that was really my trade Of the week and it wasn't necessarily I didn't take it this week. Obviously took it a few weeks ago, but You know, it was going sideways for a while and then prices decided to You know, go where it wanted to and really kind of fundamentally the reason why You know, I was loaned this was because, you know Obviously a buyer of the euro and I think the Swiss franc in a risk on environment Doesn't necessarily, you know, do well and so, um, you know, if you're looking at divergences euro swiss has a I think a bigger divergence than something like for example the euro dollar And so, you know, choosing the best pairs fundamentally Um is what, you know, you want to do and then hopefully that plays out in the market Because no one knows exactly if it will or if it won't but if it does Then you can have the confidence to hold your trade because you understand, you know You're not just snatching at profits because you, you know, would know that or you have a degree of confidence That prices should go in your favor and if you're right about the fundamentals and you'd be able to swing trade, right? So that's pretty much, you know, how it works. And so now it's waiting for any kind of pullbacks If you get pulled back into that zone, I'll probably re-enter again into maybe the lower zone If not, if I lose that, you know, 0.1 percent doesn't matter because, um, you know, I've already banked Over 1% on that trade. Anyways guys, that's it for this week. I hope you enjoyed the video Let me know if you have any questions and I'll try and get back to you As soon as possible. Take care. Have a blessed week Hi everyone, I wanted to make this video on the dollar swiss and it was a trade setup I didn't take this trade, but I know it was, um, I did some analysis and I think it was for for Spencer who, um, at the time was looking to go long on the, um, dollar swiss, right? And just a little tip, if you type in a trading view in the search bar, you'll get, um, pretty much all of the, um, charts that I pretty much, you know, post, um, and obviously you can, you know, if you click on them, you can, you know, check what was the context of it in terms of, you know, why you would want to, you know, what was happening at the time and the conversation probably surrounding that if there was one, but, um, yeah, so the, the actual chart I wanted to have a look at was, was this one. And again, I think it was, uh, it was a Spencer, uh, that, um, basically wanted to go long on this, on this currency pair and I was about to delete the analysis because I hadn't looked at this for a, for a little bit and then I realized I thought, oh yeah, this would be actually, um, you know, a really good example of, um, you know, just some fundamental analysis, first of all, as well as, you know, some technicals. Now, um, just to, guess, you know, put this into some, some more context is, was that, um, there was obviously some, um, bullish price action, something fundamentally, I think it might have been, I think it might have been the jobs numbers on the 3rd of February. I can't remember exactly what it was. It was either that or some sort of CPI number. But the point is, is that, you know, the dollar was now looking like a, uh, was then looking like a buy, right?  Now, I didn't know how long that was going to take. And again, this was the original, you know, analysis, um, right here. So you can have a look. But what ended up happening was, was prices came down. Now, why this zone, this is the, this is the question, right? So why this zone in particular, what is, there's a number of reasons. Um, first thing is that it was, um, not just the level of, you know, support and resistance that had been traded, um, you know, obviously traded, but there was, as I put here, there was traders, uh, who were caught going short, right? So a lot of, uh, traders who go, um, who went short in and around this move here or wanted to go short at this move here, um, you know, uh, and didn't get a chance to would have definitely been looking for a trade here. And so, um, and we typically would be, right? In terms of, if you're, you know, fundamentally short on the dollar Swiss, then this is pretty much the best area to look for a short trade at the time, not knowing what was coming, uh, in the future or maybe a couple of hours later. And then once, um, you know, these traders got, got kind of caught going short on that level of, you know, support and resistance, yeah, or resistance there, right? Um, they've been, they've committed capital and then all of a sudden they get caught because prices have gone against them. So that's the, the capture phase of the, uh, the trade, right? Cause loss aversion bias kicks in. They move and remove their stop losses. The pain sets in as prices go against them. The pain is looking at their, um, their unrealized, uh, you know, loss and, um, instead of accepting maybe one or two percent, now they're down 10, 15% on their account, right? 20% depending if they're, you know, over leveraged. And so, you know, when you're looking at a level of, um, of, um, the, uh, of support and resistance or supply and demand, it's really important to understand the motivations of why there is likely to be more demand than supply at a level. It's not just good enough to say, okay, yeah, you know what, that's a level of, you know, support resistance. That's a level of demand. You have to understand why first of all fundamentally you'd want to be a buyer of the dollar over the Swiss franc and also as well why, um, there's likely to be more demand orders than supply orders, right? So this area here, traders going short, pain and then you've got relief. Now the relief is where traders who went short here would have been, uh, to, to exit their trade at maybe a small loss or a break even, which is the next best trade after, you know, going through, um, you know, massive drawdown on their account or unrealized drawdown when prices start to come back down. They want some pain relief. And then if they went short here, then they have to basically buy to exit, right? They have to buy to exit. And, um, and then there's traders who are trading just support and resistance looking to buy here. You know, they have no idea they're just pressing by a set and pending orders or, um, you know, whatever orders they are or looking for entries in and around this area, they're looking to buy. And anyone who went short anywhere up here is probably looking for to take profit. And if you go short here, then again, to take profit, you have to do what buy in and around here. You've also got, you know, the dollar, which was a buy at the time against the Swiss franc. And so there, there we have, you know, there we have it, right?  Now we did come back further, right? And this is again due to liquidity. This is due to, um, not everybody got a chance to buy. And when I say everybody, I'm talking about not retail traders, but institutional, you know, banks, et cetera. Remember, they have to accumulate and buy over a certain period of time, right? And so, you know, when, when it's okay for us to just place a place, an order, a couple of orders, but they need to avoid liquidity slippage, right? And so if there's not enough liquidity to buy enough orders, right, and fill their books as they want to, then, um, you know, they, you know, the, the, the market makers, I guess, are tasked with, um, ensuring that there's enough opportunity for them to buy at some point, right? And so this is basically what happened again, right? So when prices started to come down and nothing had changed fundamentally for the dollar, they could get even, an even better price. Yeah. And you can see basically drove prices even higher. And so, um, and so, yeah, this area here, this demand zone, again, nobody knows where, nobody knows exactly where the turning point is going to be, right? But you can, you know, be, uh, I guess fairly confident that when prices start to come down, if fundamentally and sentiment wise, you still want to be a buyer of the dollar, this is going to be a cheap area and you can pretty much see, you know, where they again ended up, um, stop hunting traders, right?  Yeah. So you've got that move to the upside would have drawn in a lot of traders because at the time, you know, who, who's not going to go long at that area, right? Who's not going long at that, you know, um, uh, that level of obvious support. And if you even extend that back, that's very accurate, right? A very accurate level of support and resistance, you know, um, not everyone can get involved in this trade, right? The institutions don't want everyone to get involved in this trade. And so, um, you know, the average day trader would have looked to get involved in that trade, you know, just, just taking that as a level of support, it's stop hunts everybody as they, you know, put their stop losses below that.  So again, going back to, you know, the analysis that was on the, uh, the 6th of, um, of February right here, you can pretty much see what happens. Now this is a CPR that typically, typically, typically, um, is, is, is middle of the auction. And, um, as you're learning, I would probably caution maybe against taking these types of trades unless you're really confident on the fundamental side of things. Um, typically you want to trade an auction, uh, lows on obvious auction, those and obvious auction hires, um, in the context of looking at, you know, where we are on the daily timeframe chart. Right. So you're trading, if you're looking at a daily timeframe chart, really the obvious auction low would be somewhere down here. Um, this would be actually considered potentially, you know, potentially, but this would be considered more fair value. Um, and obviously this would be considered more expensive if you're looking at, you know, buying the dollar. Now there's nothing wrong with buying at fair value, right? There's nothing wrong with it. Um, but just in the context of, um, uh, where the best place is to buy, you're always looking at lows rather than fair value. But of course you can start to, you know, trade at fair value. But what I would say is if you are trading around fair value, um, don't put as much, um, of, of, of your, you know, max risk on fair value then you would, for example, at maybe the lows of a, of a, of a, of an auction. So, um, if you're not, if you normally trade, I don't know, 0.5%, right? Then maybe just trade at least, maybe half that, right? 0.25%. But you'd put more money on the fact that this is the better place to buy if it does come down here. Of course, you don't necessarily want to miss out on that move if, you know, you have a strong bias. So, you know, just in case, you know, the market doesn't, um, agree with you in terms of, you know, where the immediate bargain is, right? Then any prices come down here. At least you've only lost 0.25%, but this area here would be the best place to look for buying. And then that would be where you'd probably put a bit more on your normal position size. And if that, if the market agrees with you that that is a bargain, then prices should want to go a lot higher. So that's really where we are. Better risk reward down at the lows. And yeah, I thought that was a really interesting, really interesting chart, you know, in terms of the actual way that it played out, you know, you've got, for those of you who understand, you know, market making, you've got that unfair auction that needed to be completed. And actually, it was completed right there, right? So the unfair auction started right there. It was probably mostly completed there partially. But then obviously, there as well, that was obviously the completion of the unfair auction. And institutional flow push prices to the upside. So yeah, very, very, very, very nice, you know, trade setup. I'm not too sure, Spencer got involved in this, I'd have to ask, but yeah, the analysis was pretty spot on in terms of, you know, what we actually said at the time. And, and yeah, so probably Sunday 6th, and that was where we are. And so yeah, anyways, I hope you enjoyed that and really got some use out of it. And again, it's not just about looking at support and resistance or supply and demand, because they're supply and demand is everywhere. Remember, fundamentals first, right? Why is why are you buying? Why are the banks buying? Why are they likely to buy at certain areas? And then looking at the higher and lower time frames or the higher time frames first, then going down into the lower time frames, if it's in a good spot on the higher time frame, if it's in the setup, it's in the bargain area on the higher time frame, then brilliant, you know that this is a decent area to look for buying on a lower time frame. And yeah, that's pretty much it. All right, guys, take care and speak to you soon.


Usually the stand-ups go like this. I can't remember what I did, but what I did, I will continue. And that's precisely where I insist and help back people from lunch because agile is important. You want my business card? Anyone? Do you need it? And here's one for you, agile coach. Can you pass it into the back? Right there, yes. Here's one for you. I have many of them, no worries. I was a horrible developer. I mean, the company was working fine before I introduced Scrum. Then it was working better, of course. Agile transformation. We solved the problem. We didn't even know we had. Actually, never really had a problem. We improved our daily Scrum efficiency. We do Scrum right before lunch. Closes. Some people believe in this. Some people in this. Some people believe in Scrum. And they're right. Efficient, impediment, velocity, commit. It didn't work because they didn't do Scrum right. Now without Zoom, just movement. It didn't work because they didn't do Scrum right. Without Zoom, movement. It didn't work because it didn't work. Didn't work because it didn't do right. Yeah, you can complain. Make it a story in your backlog. Don't give customers what they need. Give them what they ask for. Our highest priority is to increase customer satisfaction. Not ours. You can't call that Scrum. We call that Scrum. But that's because of my definition. But that's because they have me as a coach. To help them make waterfall look like Scrum. We focus on Scrum meetings and put actual meetings aside. We reduce the number of meetings. Increase the number of Scrum meetings. Now we're only two weeks in delay. I mean, two sprints in delay. It's that simple. Just hire an agile coach. And you'll have a lot of more meetings. I mean, you'll have a lot of less meetings. And more time for Scrum. I'm so used to it. I don't even hear the waterfall. All right then. Who wants my business card? No one wants to transform their business. There we go, all right. Cut.


The following is a presentation of TFNN The Trader's Edge with Steve Rhodes At 1-877-927-6648 or internationally at<PHONE_NUMBER> The Trader's Edge Now Steve Rhodes Good morning folks welcome to the April 10th the magnificent Monday edition of today's Trader's Edge show I'm your host DB Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past. Hope everyone out there's having a great day. Hey, let's make sure we have an extraordinary one The easiest way to do that is to always remember that life is happening for us not to us That's right When you and I make that one little two by four shift means we can find the gift in every set of Circumstance that life is going to toss at us now today you and I we're going to go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I do want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone would love to hear from you eight seven seven nine two seven six six four eight It's a number to call in on if you got a question, but you can't call in you can always send me an email Send that off to Steve at tfnn.com and inside the subject heading Please put radio show question. Of course if you're inside our Tigers down well than any in every ping will do So let's go ahead and get this show started on a magnificent Monday, of course This is tiger financial news network. I'm Steve Rhodes Welcome to the show.  So that's I believe that's a buyout Potential offer or something like that from X on mobile here. Maybe just so I was coming on the air I have his budget group is up 9 bucks or 5% John Deere up 742 percent United rentals up 7 bucks or 2% 5 below is up above 5 That's a $7 58 cent move about 3.6 percent to the downside it is Mercado rebay off about 13 bucks 16 dollars from SCI WD 40 it's not so good this morning on 12 bucks and Lastly, you've got the thermo Fisher scientific off 7 bucks has about 1% move to the downside So hope everybody had a great weekend out there.  I think that you could see we saw some amazing golf Between yesterday really yesterday was just I mean it was good golf the other couple days But yesterday pretty extraordinary golf by Jordan speed and Phil Mickelson.  Oh a great golf tournament. Let's get to the let's get to what's going on here inside these markets And so let's go to our first question because our first question is from Roger Let me actually get to it'll make a little easier for Stevie here and Roger I think this might be the first time Roger's written. He said good morning Steve. How are you doing? I'm doing well. I hope you're doing well also You trade weekly options and also a two to three days swing trades on the diamond of spies So the question is where do you think they are going this week? They gave and have a great week you do as well. God bless you, too So if we take a look at let's just start by take a look at the ES mini. Well, let's do this I'll stay on this page here So this is the first the most important thing perhaps Roger that we need to know any of us out here And that is if we take a look at the ES mini that's about the yes many in the Dow So those are going to be your left hand panel We're taking a look at the equity future contracts because they're providing you know I with the best information out here right now We've got it's just a good old-fashioned consolidation. So in regard to the ES mini That's what you really want to benchmark things off of it's between 40 76 and 41 71 Inside the Dow, it's between 33 320 and 33 7 37 So you just got a consolidation pattern that is going on so from a trading standpoint You're more likely to want to take a trade as price reaches the top of those consolidations to the downside 33 7 37 is the Dow number 41 71 again the ES mini. We're kind of right at the midpoint here So not really a great ideal setup if we take a look at the Russell 2000 This is something new since this morning quite frankly It's something new in the last half hour and that is that there is a new profile is attempting to form here as well It's bullish in structure. It talks to us about a consolidation in essence The reason why I say that we're looking at the lower left-hand panel But I'll just simply expand it out and I describe to you again what it is. I'm looking at here There's new profile that is attempting to form. So to please realize we will not have confirmation of this until this evening Showing your home screen, right? I want my ham screen. Yeah, so If if it does hold price in support this morning down to 1760 Resist is 1804 but notice how this current profile is with inside the prior profile What that tells us Roger is to expect and anticipate a consolidating market So you're asking what it's a market going to do for the next couple of days I really think it's more of an intraday trader type pattern out there and we don't have consistency What I mean by we don't have consistency if you look at the upper right-hand panel that is the end Q Price is trading above the top of its profile that number there is up at 13. Oh 62 So this is the end Q is saying I should go target 13996 but it today is a bearish reversal candle although not shown here It would actually go ahead and confirm a roadsman to mitigate or top now Let's go over the white background chart Just trying to get some type of feel if any with regard to what's going on intraday out here And so on a on an intraday basis the 60-minute timeframe chart has a confirmed by the d-point pattern the a to b I'll just simply draw that in out here. So here's a to b We can just move that over to the c-point. This was more than a 1 to 1 a to b equal cd to the downside What we do is we wait for a bullish reversal candle that tells us the pattern has completed out there And so you've got that what price should do is go target the 41 21 level in the 30-minute chart You also have a confirmed by the d-point pattern and price right now is trading above Profile resistance if price closes above and this really be the oscillator and change line number 41 13 Let's call 41 14 we're 41 14 right now price close about 41 14 Then the 30-minute chart is saying I want higher price this target quite frankly is all the way up at 41 33 15-minute charts got a roadsman to mitigate or bottom TD 9 count of the 10 minute the other charts here along the top We can see the prices pulled back to prior lows out there So that most certainly can suggest or does suggest to us with regard to the yes Many is that it should bounce from here and you got to really pay attention to those Intraday 10 15 30 and 60 minute charts out there for signals if we take a look at what's going on market-breath wise I don't know the answer to this. We're gonna find out here momentarily. We are Slightly let me just switch this here. Let me just make sure it gets up that I'll do the NQ first now And now that I'll know I have updated data figures out here So the NQ is as bullish 40 above 24 below So 30-minute NQ should we didn't look at that yep at the 30-minute NQ should continue to rally with regard to the Yes, mini right now. You've got 124 above 160 below so a little rocky waters here on a 30-minute time frame chart for the yes mini It's almost telling us right now that it's gonna struggle to clear that oscillator and change line right up into resistance But let's give it some time. It's got about 16 minutes out there But I'd be paying attention those shorter term time frame charts Roger. So to summarize it Raj I think we are in a consolidation pattern out there You'd love to see short-term topping signals as price hits the top of those profiles and short-term bottoming signals as price It's the bottom of those profiles for your interday or two-day trade perhaps Steve Rhodes with TF&N. 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Visit the front page of TF&N.com TF&N educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at TFNN.com The opening call newsletter is written by Basil Chapman Creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by Basil Chapman in your inbox every day first-time subscribers Also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge Every day it is mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors toll-free at 1-877-927-6648 internationally at<PHONE_NUMBER> Good back folks. Dallas turned just slightly positive out there. That's really only significant change since we were last together Let's get to our our next question here coming in from Hector Hector and Patty Hector's question goes like this Happy marvelous Monday. Thank you. Same to you both Microsoft on a weekly base a b equal CD up looks looks like a monster bullish breakout thoughts on that Okay, and over the weekend revisit your ultimate reverse like Microsoft has all the criteria very powerful. Yep Yeah, yeah, yeah, yeah addition CD looking for archive library you bet So let's go take a look at the a to b equal CD patterns really a couple patterns out here Hector and Patty and Mike Also, who's got a request in for Microsoft that we'll take a look at so let's first get to these charts here now What Hector was referring to is the weekly a to b equal CD the a point very easy identified slowest low out there that took place during October of 2022 that rally price rallied right up a new high that formed in February of 2023 We had about a two to three month pullback out there into February 27 a couple week Well, I'm sorry about a weekly chart and a monthly chart. I'll eventually get things corrected here Pulls back into February 27th, and then the b-point gets passed the week of March 13th volume there 237 million shares was passing 196 million dollars swing points and now we have a confirmed a to b equal CD the upside and the sector pointed out It's a strong one. Why is it a strong one really for two different reasons out here? The first one is the retracement of this B to C leg as he was pointing out it is less than a point six one Eight it's actually just slightly less than a 50% retracement typically and you just fix your figure like this It's how the a to b equal CD pattern works. It's the easiest We're all visual some of our physical and just take a rubber band wrap it around that index finger as hard as you possibly can Back it off about 50% let it go do the same thing back it off 61% let it go which one has more energy Exactly so you do a normal retracement point six one eight odds favor You're gonna do a one-to-one out there, but if you do something less than that Well, it's giving you the idea that it might do an extension in this case here We can also take a look at how price pulled off of that C point explosive move wide-ranging bar Big volume and price along the left-hand side of that C to D leg That's that day yellow line that you see But regardless of whether it's going to do a one-to-one or more than a one-to-one The first price target becomes three oh eight ninety four on the weekly time frame The word conservative a to b equal CD if we take a look at on the daily time frame Just starting from a different swing point out there We'll get us up to the three oh eight three oh three twenty level out there now Well, we want to take a look at out here So that's the a to b equal CD pattern It is a big strong move to the upside out there But we do have a signal that price might be getting ready to pull back So first we'll stay on this chart here You've got the new profile this formed here a couple of days ago So make sure you jot this down both the Mike and Hector and Patty everybody else You got to close your ears a two eighty eight sixty one That's the top of the profile two seventy nine forty one is the bottom of the profile Now the reason you want to pay attention to that is because as we turn over to the white background charts What we're going to see is roads meant to minicator or a TD nine count top my apology TD nine count top that formed on Friday Was the bar following bar number nine as the roads meant to minicator signal triggered as well Doesn't matter that requires a bearish reversal candle We don't need that for a top now You've got the TD nine count top and a price does close below its green oscillator and change line Which is currently printed 287 39 prices likely to fall back to 279 41 That's the bottom of its profile if price broke through there both Hector and Mike price would then target the breakout level of 272 0 5 Now we can see that on a weekly basis prices gotten up towards its TD nine count breakdown area That's at that 292 30 So Hector you really want to be watching that level for confirmation that this larger weekly a to b equal CD pattern is back on its merry way Otherwise that is your land of of the battle the 292 30 out there You've got the daily roads meant to minicator pattern that I'm sorry You've got the daily TD nine count top that is in place out there if we look real quickly to a 30 minute timeframe chart This did form a TD nine count top as well What price did is pulled back towards its breakout level support hasn't gotten there that would be at the 283 11 Area out there so with regard to Microsoft Both Mike and Hector I think with regard to the a to b equal CDs We covered that for you Mike. I think maybe you were just saying hey Can we take a look at both Apple and Microsoft? We'll certainly get to Apple as well But in the case of Microsoft you see the top you see what it's doing You know where support levels are at and I do hope that that helps both of you out Let's go to our and we'll come back to I'll come back to the To the Apple one for you there Mike next question is from Alton and Alton wants to take a look at the GDX Let's get over to those GDX charts and let's read Alton's question Alton's question goes that was Apple But I had the GDX try this There we go. Okay. Good morning Steve is silver a good buy here for a long-term hold Or is the GDX still the better option? Thank you Steven have a wonderful a week you do as well So your question about the GDX is it a buy here? I would say no The reason I would say no Alton you're asking if Silver's a buy Well, let me just answer in the GDX as well because it is the GDX a better option The GDX is a buy it around 33 15 the reason I say that Hector I'm sorry Alton is because we've got a TD 9 count top that completed two days ago Price is pulling back We've actually you know tested the lows of of Friday out there the green us that are in change line should get tested If price tester rejects that level what you'd like to see is on a let's say an intraday chart Some type of bottoming pattern forming at that same time or approximately that same time That would your be your buy signal into the GDX will take a look at silver to answer your question In the case of the GDX the GDX has a swing point that was taken out last week The swing point that it took out was from the week of January 27 104 million shares rated hands that that week last week 115 million so now the GDX as a confirmed weekly a to b equals CDT upside in it's a doozy We just simply take the a to b point. No, we'll just simply move that over Towards the SC point out here. Let's do this. Let's get that in there. It's about like that shoot maybe well just But right there So that gives us that gets us to on the one-to-one basis gets up towards a 38 dollar level We can see we're trading. I mean the GDX is looking very strong So you do want to wait for some type of a pullback out there now Let's go try to answer the question about silver. What is silver doing? That's a great question now There's a couple different things. I think there's a couple different things That I want to point. Oh, let's shoot. Nope.  Mr. Bill was kind enough to let me know that I misspoke when I was take a look at the natural gas contract Something had switched on my cursor the key level for natural gas that it must overcome to suggest that this bottom or a bottom May take hold is gonna be two dollars and 19 cents I was looking at the center profile from a previous profiles at 285 It is 219 you can see how price and the reason why that was such a or is such a key level is we did have two consecutive closes below the bottom of profile when that happens countertrend moves will find resistance usually at that center And that's exactly what is transpired here for a natural gas over the last three training sessions So you want to be watching that 219 area if we can do that at least gets up to 234 Doesn't tell us whether price will take out 234, but that would be a positive out there So I do want to pass that on to you if we take a look at silver Silver is trying to form a new profile Alton and is trying to form a new profile below price. That is a bullish outcome So in this case here, maybe what silver is going to do is pull back to 2445 or maybe it's not going to pull back What sort of you've got a TD 9 count top. It's kind of hard to say is silver a good buy here Also knowing that the US dollar index so on the set of chart here that we're looking at all we have to do is Let our eyes go straight over to the left And you'll see the US dollar index which has a buy the D point pattern Alton if I knew the answer can the US dollar index close above one oh two fifty eight Then we'd have a real a much better not a real better But a much better idea of what silver the GDX and gold want to do. I think that's the real key See roads with TFN. 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Oh, yeah, that was just a slightly negative off about three points That's speed on 18 NASDAQ 105 in the Russell is up a full 10 points out there. Let's go to oh, you know I wanted to do I wanted to which charts are we on okay? Let's I get over here take a look at silver I just want to finish that that question That had come in so if you take a look at silver out here You can see the TD 9 count top on the daily base that's in your up a left hand corner So what I'd love to see you do Alton is I'd love to see you wait for silver to pull back to 24 22 or thereabouts That's the green acid and chains. I say get a TD 9 count top a Also didn't change on a change colors price should pull back to test that don't know exactly the price point It'll be when that unfolds But right now it's 24 22 if you get a test rejection of that green acid and chains on that is your next buy point now At that point in time conditions would be neutral because it still would have a valid top at a key level of sport would have held out there So that's what I would be looking for with regard to what's going on inside of the medals And I would also be paying attention to the dollar and the question is can it bust through the consolidation meaning to close above? The top of its profile out there So hope that helps you out Alton G man. I know you were asking about the GDX as well So I hope that the information I provided on the GDX was helpful to you as well Mike had asked it had asked it, you know, that's beautiful. See Stevie, man Apparently I need more time off. We're gonna work on that But let's go take a look at what Mike is interested in which is Microsoft So where did I put the Microsoft at that's the Apple always Apple want a Microsoft ain't Apple See how you eventually figure things out So as we take a look at Apple out here what Apple has done Mike is has pulled back and tested support That's the bottom of its daily profile one sixty thirty two the actual low in Apple today has been one sixty oh eight So as long as one sixty thirty two holds Even though Apple is down Significantly on sales. It's held the very key level of support. We have a wave number C We we have a wave number G. That's a seventh wave move out there for a top We have a confirmed road momentum indicator top because the gap down on Friday But then again just a consolidation with inside his daily profile So it's overall signal is still bullish if it closed below the bottom that profile one sixty thirty two Mike Then that would suggest a further pullback now the next area of support quite frankly for Apple is down at one thirty seven ninety But really we'd be looking at this TD nine count bottom of marks the second out there on a further pullback if price broke through Support it has not now as price was testing that level of sport What was going on under thirty minute timeframe excellent question? Let's go try to answer that question Well, it was forming a roadsman to indicator signal and right at the 11 a.m Just we were coming on the air that pattern was confirmed with a bullish engulfing candle Would that then suggest that we should see move up to its oscillator and change line right around the one sixty two fifty four Level out there and if Apple can overcome that well in a further rally one sixty four thirty one sixty four fifty eight 164 87 being battleground areas out there as we take a look at the weekly timeframe chart here for Apple What do we see we see that price made its way right up into resistance? That's it descending price channel lying out there So not unusual to see price pull back out there now in the case of Apple We really want to watch this chart for Apple because you get up to a long term Descending price channel this could be a significant top out here for Apple and could be pulling back So the first level to be watching out there Mike is to watch that one sixty thirty two level There's not anything else that I've got for you on Apple So I do hope that helps you out and thanks much for listing in and your request SNP Inside our targets. I wanted to take a look at ticker symbol n Double e and n double e is a great knee high out there. No, it's not that it is next terror energy And the question was I don't recall the question was to take a look at it because you are long is my recollection Well, we have in the case of next terror energy is a TD 9 count top that formed on Friday it completes today We can see its oscillator and change line recently changed color from red to green that suggests that price should target it So SNP price should target 76 52 That would be your next place to add to position if that area were to hold again You go down to a 30 minute time frame chart look for some type of bottoming signal speaking of 30 minute time frame charts We only have a topping signal. We have a topping signal roads meant to mitigate her top price below breakout support 76 38 becomes its next price target on that 30 minute time frame chart if price gets to 76 38 It's gonna be very close to that green oscillator and change line on the daily time frame out there So you'll want to watch those patterns, but you do have a top in next terror energy That's on the daily timer in the weekly time frame boy It looked beautiful on Friday as price it closed above the top of the weekly profile, but it's only Monday maybe it Finds its legs this week and it continues to close above 7846 and if it does that that tells you about its intent to go a target 86 47 out there So that's what I see SNP when I take a look at next terror energy I hope that that helps you out and thank you so very much for your request Nicholas writes in and Nicholas wants to take a look at Home Depot. Let's get over to the charts Let's get to the question. Let's read the question the question goes like this. Good morning, Steve Would you please go over Home Depot for a long entry? Thank you. Have a great day you too as well So we take a look at Home Depot. What do we see out here on the daily time frame? What we have is a wave seven bottom. We just expand this out see what else we might be able to see out here Well, let's just talk about let's not talk about how it formed a bottom, which looks like a buy the D point Out here is that right now what price is doing? HD is and you want an entry point So this morning price pulled back and was testing It's also during change on top of its profile and that held that did the same thing on Friday So what you know right now is a key level of support is the top of the profile old resistance becoming new support And that number is 285 89 I'm going to suggest that if you want to take a long position Home Depot that you buy that on a pullback of 285 89 That would be an area for you to watch and observe and perhaps take a long position But look at a weekly time frame chart. What do we have out here? We have a consolidation with inside its profiles between the 280 504 It's really a bit lower than that but around 280 504 up to 336 and on a monthly basis you've just got a roadsman dominicator and TD 9 count top With price consolidating with inside its profile. So Home Depot gets a little bit more complicated Out of curiosity, what was a 30-minute time frame chart doing this morning as price had pulled back in and really on Friday? What was it doing it out there? And the answer is Stevie doesn't know Now there was an a to b equal CD pattern that completed out here price tested that swing point Let's see with volume volume was 250 2000 against 214. Well, there you go So on a 30-minute basis price tested and rejected a swing point on lighter volume You are above the top of its both structured 30-minute profile price should continue to move higher at least That's what the 30-minute chart here for Home Depot is saying now. Let's get back to the daily Yeah, so price should continue to move higher out there But still with regard to your entry point, you know, maybe the third time is the charm And so I'd stick with that 285 59 Nicholas I do hope that helps you out and as always. Thank you for the request Way to request inside the Tigers then I blew us from a guppy out there wanted to take a look at CF industries out here. So CF. That's not it. Let's go. Actually, I don't think I've typed it in So let's go type it in now and if I did well, we'll retype it The question goes like this says good morning Steve great master Sunday Yes, it definitely was can you imagine playing in that 40 degree weather when it's damp like that out there? And the wind was blown from the north whoo that's cold weather You know, I wear a parka when it gets into the 60s out here So God great master say yeah, could you please tell me if they think I see F is a buy here for a medium to long term It's breaking out above the 21 days simple moving average Is it also breaking above the daily? OUL and other levels that we use folks we get back to this break. We're gonna go take a look at CF industries That's for SNP What's that for that was for the guppy inside the tiger's den of great back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at TFNN.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by Basil Chapman in your inbox every day First-time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first-time subscribers also get a 30-day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors Are China a shares hot or not if you trade China a shares now may be time to take a closer look trade CHAU or CHAD Directions daily CSI 300 China a share bull and bear ETFs China a shares in either direction Visit direction investments calm today an investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at<PHONE_NUMBER> The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ Good back folks. So we're gonna take a look at CF industries out here This is for one of our dinners. Unfortunately CF. I don't get I can't get access to historical Wait a minute. I don't think I get access to historical data Yeah, I can't I don't know what's going on that with that system So let's take a look at CF industries out here The question from McGuppy is is it a buy and that was based upon it breaking out above its 21-day simple moving average Questions specifically is is it's breaking out above profile the answer. There is no in order to do that McGuppy We would need to see a close above 7491 Price hit 7491 and so far has rejected that level now You've got a roadsman to indicator bottom pattern It's actually being confirmed as we speak right now with that little gap to the upside And that bullish separating line out here But you really got a close above 7491 to then suggest that we may have a change in trend on a daily time frame The change of trend out there McGuppy should then take us up towards the 85 17 level That's a teeny-nigh count breakdown area if we look at the weekly chart What this shows us is a buy the d-point pattern You can easily see the a to b the c all the way down to the d out there And you had that the bullshash candle at form three weeks ago That was weak at ended at March the 31st So what price should do here you're trading with inside profiles your support level is 7012 Your resistance area is 78 78 and that red oscillator change line is printed at 77 97 so odds favor If you can get a close above 7491 that should then take price up to what's called 78 78 and a price close above 78 78 You're off to the races the price should continue to move higher the weak link on this three Panel set of charts is really the monthly time frame. No bottoming signal in place Price took out a swing point that was a swing point from January of 2023 59 million shares were done there 68 million shares done last month. That's actually I confirmed a to b equal CD to the Downside let's actually draw that in here. So as we take a look at CF But a to b we're just simply I'll just simply copy it this time Copy and paste and I will just move this over to the a d-point and this would really suggest to you and I McGuppy that what price wants to do is pull back towards 4404 the actual one-to-one price projection gets it out to about 5106 or there about so the monthly time frame as a confirmed A to B equal CD to the downside the daily and the weekly the weekly by that way has a by the d-point pattern So it at least suggests we should see some type of rally But that real key the rally could be over if it cannot clear 74 91 the top of its profile on the daily time frame So McGuppy, I hope that helps you out with regard to CF industries and yes, SNP that answered your question with regard to knee. Okay next year energy perfect. All right So I believe we are through all of the questions out here. I believe we are Not that I'm happy to take more. I'm most certainly happy to take more out there So<PHONE_NUMBER> or you can go ease and send me an email son That's Steve at tfn.com But send it really quick. I don't know that I would actually get to it by the time it goes through the process here So let's do this What do we want to do? I would have to close all these things down to do that So I won't do that during this segment, but what we'll do is we'll take a look at the US dollar index As we begin that next segment out here. So in this case, let's just go take a look What's going on in the gold marketplace with regard to the US dollar trading as high as it is Right now. So let's take a look at the gold box. We're taking it silver. We've got that TD nine count top So we've covered that now. Let's go take it and see what gold is doing out here And again, I believe that gold could form a roadsman to mitigate our top today if we do get that bearish reversal candle I'm missing some data here. So let me I don't know why I did that but let's restore Reload everything At least I believe I'm missing some data out here So let me see when this thing here populates Come on, baby Don't know why it's taking its time But it is and sorry about the silence out there and I can't get gold to populate this daily chart out there but I know that Well, okay, we're gonna go with I guess that is the that is the candle formation So with regard to a Goldilocks, we've got no no topping pattern out The only thing we've gotten gold as I mentioned to you was that new profile. That's attempting to form It's not shown on this chart here. So jot these numbers numbers down 20 40 Point nine zero is the top of the profile one nine seven four point two is the bottom of that profile on a five-hour time frame chart We have a TD nine count bottom that is going to complete at 2 p.m. It's eleven forty seven So you want to watch that on a When a four-hour time frame chart the TD nine count pattern was negated So that's not really great news So that then says we take a look at a two-hour time frame chart the level to be watching It's going to be the nineteen ninety-five fifty level that on a two-hour time frame is its breakout area I've got a bottom on the 30-minute chart That is a roadsman to indicator bottom a price has got to take out that oscillator and change line in order to get Any upside traction the same is true with regard to the 15 minute time frame chart and on a 10 minute basis it's got Zilch it's got nothing out there. So Goldilocks. So how are we going to assess Goldilocks here? We're gonna have to pay attention most certainly to the Most certainly to the to the US dollar, but we've got a caller on the line. Let's go out to Maryland. So what? Thank you for calling. Thanks for holding. How are you? Thank you so much for taking my call my pleasure. How about you everything? Okay? Yes. Yes, very much so Amazon AMC and is the ticker somebody you're calling about Sue. What are you doing? How can I help you? Yeah, I I have the Amazon is high-pride and keep stopping. I just wonder what is the support level or what should I keep it or? Okay, so with regard or for something Yeah, so support can answer that question support on a daily time frame is 100.25 and what we saw Amazon do both on Friday and today was test that level So that level is held so far if you were to see a close below 100.25 and most specifically two consecutive closes Then we're likely to see a move back to about 97 08 97 08 is the top of its weekly profile. So that's old resistance that now becomes support and that support level again or resistant It would be 97 08. So the first level of sport 100.25 the second level of support That's in price close of low that is 97 08 out there now resistance Resistance is at 104 20 and that's the level in essence that price closed out a couple of days ago So if price can close above 104 20 and I don't have any kind of a topping pattern out there In fact, let's just see if this confirmed an a to b equal c to the upside the swing point on a daily basis For the benchmark that we would use is March 22nd did volume of 57 million shares as that was passed It was passed with 57 million shares 56 and change 57 48 So I'm gonna say we've got a confirmed a to b equal city at the upside in Amazon on a daily time frame and that would give us a price projection I'm gonna give you an approximate price projection here Just based upon the way I'm doing it that should take us back all the way up to that high that formed on February 2nd And that was a TD 9 count top. So it gives us about the 111 Area 110 ish area on a daily time frame and price is holding support. So your question was where support? We've answered that should you hold it or sell it? I would hold it at this stage here You need to at least see price break through those areas of support out there And you've got those two areas to focus on. Is there anything is there anything else that I can do for you? Yeah, thank you so much. I really appreciate that. Okay. Thanks. Thanks a lot. You have a wonderful day. Thank you so much You do as well. Great to speak with you We'll be back in just a few folks If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicles sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN comm TFNN educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at TFNN comm the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave Updown sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30-day money back guarantee if you're not Satisfied let us know and you'll get a full refund within 30 days of signing up TFNN comm educating investors Everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing Artwork to patterns in the stock market to stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN comm when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets That he's tracking expect notifications from Larry on market movement You need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24-7 newsletter today TFNN comm educating investors TFNN has launched the Tiger's Den hosted at Discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The Tiger's Den available to all Tigers and Tigris's for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this Educational community of traders just visit the front page of TFNN dot com Back up folks. So let's go take a look at the US dollar index. Those should be the charts it up on your screen We've got our multi panel set of charts out there. So on the daily time frame. I'll just simply expand out the chart There was that a to b equal c to the upside as well as a rogement of indicator top That's not we're looking at now. We're looking at the buy the d-point pattern that formed out here.  Your c-point was the high for March 15th That set up our a to b equal cd pattern out here that by the d-point pattern. I got negated on Friday I think it may get No, I'm looking. Sorry. I take that back US dollar index confirmed a buy the d-point pattern on April the 5th And now price above that red acid and change line Consolidating with insides daily profile out here support at one one twenty five resistance one oh two fifty eight The question is will price take out one oh two fifty eight If you take a look at a five-hour time frame chart, we can see the price running to resist that one oh two forty four Note that on a pad of paper close above that says higher price the four-hour time frame chart No topping signal price took out. It's or has taken out a steady nine count breakdown area That is strong and bullish same thing on the two-hour time frame chart a very strong and bullish chart there 60-minute chart looks very bullish a 30-minute chart has a TD nine count top That tells you and I that if we do see the US dollar next close with one oh two forty seven Well, it should go at least get to that one oh two fifty eight But might be signaling something else to the upside out there You've got a TD nine count Roadsman to mitigate top on the 15 same on the 10 I would just simply keep your eyes on that 30-minute time frame chart for the US dollar index the other time frame suggests higher price You've got a bit of a retracement here sideways move after this TD nine count top on the US dollar index and that should help Folks that should help us to understand whether we're just seeing the way the equity markets are moving as we speak right now And the way that the metals markets are moving that includes the GDX as well So that's what's going on stay tuned. We've got some great shows lined up for you I'll be back with you tomorrow on terrific Tuesday, and that'll be 11 o'clock sharp So I have a magnificent Monday. Thanks much for joining us. I'll see you at about 315 With Tom not sure what we're gonna come talk about but Stevie will come up with something. Take care folks. We'll see you tomorrow