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Last modified by Drunk Monkey on 2023-02-24 09:47
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1 == Outline ==
2
3 ##00:34 -## Daily chart of the dollar.
4
5 ##01:56 -## Long term bias still is risk off, meaning lower prices are likely across all asset classes on the 15th.
6
7 ##03:41 -## High resistance, high resistance, and slow lethargic approach.
8
9 ##04:55 -## What is the risk to the US Dollar?
10
11 == Transcription ==
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13 (% class="hover min" %)
14 |1 |00:00:34,560 ~-~-> 00:00:49,350 |ICT: Thanks. Good evening. Just a real quick review here, the dollar index. And I'll try to go through this as briefly as possible, but still cover the majority
15 |2 |00:00:49,350 ~-~-> 00:01:01,020 |of the salient points. upper left hand corner. That's our daily chart here. Let's maximize that for a moment. So we've seen, we've been looking for higher
16 |3 |00:01:01,020 ~-~-> 00:01:12,660 |dollar, I mentioned this each time we've done our analysis. And I mentioned that we will be gravitating towards the rejection block, this wick consequent
17 |4 |00:01:12,660 ~-~-> 00:01:23,160 |encroachment, which is this level here. So this candles Hi, I'm sorry, this candle is closing price or other is the rejection block. The next level that's
18 |5 |00:01:23,160 ~-~-> 00:01:38,400 |key is the midpoint of this wick, what's the consequent encroachment. And then the hi itself looking at this area up here as the buyside liquidity pool, so
19 |6 |00:01:38,400 ~-~-> 00:01:49,050 |there's the next levels that I have for dollar now it's been a slow grind getting up there, but it's nonetheless it's climbing. Will it continue overnight
20 |7 |00:01:49,050 ~-~-> 00:02:02,280 |into Friday before we close the week. I'm gonna go with that until proven otherwise. So long term bias still is risk off. Meaning lower prices are likely
21 |8 |00:02:02,550 ~-~-> 00:02:04,200 |across all asset classes
22 |9 |00:02:11,730 ~-~-> 00:02:27,300 |on the 15th and timeframe and lower left hand side and see this wick here after dropping below this level, their new day for Thursday trades down attacks, the
23 |10 |00:02:27,300 ~-~-> 00:02:44,910 |sell side accumulates long positions rise to the buy side here intraday Dollar Index and this is going to be on the heels of everything that I called Live.
24 |11 |00:02:45,120 ~-~-> 00:02:55,650 |Today I gave a pre market analysis gave you the fair value gap I was looking for the sell side liquidity that I was looking for. And then real time on Twitter I
25 |12 |00:02:55,650 ~-~-> 00:03:07,080 |was calling all the intraday volatility and what we were looking for. So I gave guidance in terms of tape reading for the E Mini s&p, it was on the basis of
26 |13 |00:03:07,080 ~-~-> 00:03:18,600 |what I'm going to explain here. And why I felt that was likely to do what I was calling for in the tweets. It's important that you understand that it's for your
27 |14 |00:03:18,600 ~-~-> 00:03:26,850 |benefit, I go through the tweets, take the tweets, copy the link for the individual tweets that I'm posting commentary about. And go to trading view and
28 |15 |00:03:26,850 ~-~-> 00:03:35,490 |right click anywhere on the chart for ES on a one minute chart. And click paste in there. I'll put my tweet exactly at the one minute candle. So that way you
29 |16 |00:03:35,490 ~-~-> 00:03:46,800 |can see what I was expecting what I was calling, and nothing can be taken out of context. So we have this lower low here. And while it was doing that, it was
30 |17 |00:03:46,800 ~-~-> 00:03:58,290 |accumulating sell side in a deep discount from this low to the high. And we've been expecting higher prices on dollar, which is what we've been seeing here and
31 |18 |00:03:59,100 ~-~-> 00:04:11,850 |the daily chart. But it's being met with high resistance, high resistance meaning that it's not a quick sudden run, it just keeps grinding higher, gives
32 |19 |00:04:11,850 ~-~-> 00:04:21,210 |back a little bit as every time it makes a new higher high and then it grinds higher again. So it's a real slow, lethargic approach to these levels of here.
33 |20 |00:04:21,540 ~-~-> 00:04:32,490 |It could very easily fail tomorrow. It could fail tonight. It could have kept the entire week right now because we made this higher high which is why I'm
34 |21 |00:04:32,490 ~-~-> 00:04:41,580 |electing to do nothing tomorrow. I'm closing up shop with this review here. And I'm gonna watch and see what we get on Friday going into the weekend.
35 |22 |00:04:46,590 ~-~-> 00:04:59,970 |The market had some consolidation here at the opening at the stock market opened rather 930 And then drove higher. This run higher sets the stage for what risk
36 |23 |00:05:00,000 ~-~-> 00:05:15,660 |Golf, meaning that rallies in ES or s&p rallies in Eurodollar rallies in British pound, all foreign currencies are going to be short lived. And they're going to
37 |24 |00:05:15,660 ~-~-> 00:05:31,890 |run out of momentum to the upside and SEL programs will begin for those individual assets. While dollar rallies right now, this is what my concern is,
38 |25 |00:05:31,890 ~-~-> 00:05:41,730 |is why I don't want to do anything tomorrow. If you look at this low connect this low connect this low, draw that out in time, to me, while I still believe
39 |26 |00:05:41,730 ~-~-> 00:05:55,260 |that we're likely to keep going higher timeframe, daily chart basis, trying to challenge this high up here, we may see a breakdown of this. Suppose it
40 |27 |00:05:56,190 ~-~-> 00:06:05,790 |trendline, I'm not going to draw it because I don't want to have that in my recordings. But I look at that as a reason for them to want to drop it down. And
41 |28 |00:06:05,790 ~-~-> 00:06:17,040 |if it does, it could easily take out this area down here and still be bullish, but it would upset those individuals that like the look at diagonal support and
42 |29 |00:06:17,550 ~-~-> 00:06:29,100 |resistance, which I'm not a fan of and I don't subscribe to that view. So because of that we've already done a lot for the week. My analysis was
43 |30 |00:06:30,120 ~-~-> 00:06:39,930 |satisfactory to my liking. We had a shortened week because of the holiday on Monday. And I'm not watching the clothes shop early and not doing anything on
44 |31 |00:06:39,930 ~-~-> 00:06:51,120 |Friday. So I won't be doing any live streams. I won't be doing any live analysis or tape reading with you through tweets tomorrow either. But in my personal
45 |32 |00:06:51,120 ~-~-> 00:07:02,460 |observation study, I will be watching price but I don't foresee me doing anything specific with any noteworthy attention. I'm gonna be spending it with
46 |33 |00:07:02,970 ~-~-> 00:07:14,700 |my son camera which I showed you how I was working with him this morning in the pre market live stream. So with that said, let's go over to Eurodollar
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48 - at this point, the mike cut out. Review continues in the Jan 23, 2023 Twitter Space - Market Review Cliff ::Notes Edition::