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ICT Market Maker Primer Course - 23 - Higher Time Frame Concepts.srt

Last modified by Drunk Monkey on 2021-06-10 06:20
1 00:00:11,099 --> 00:00:15,659 ICT: Okay folks, this teaching is going to be specifically dealing with higher timeframe concepts.
2 00:00:22,170 --> 00:00:38,790 Okay, points in focus. This module will be talking about key levels what makes a key level? Price rejections Alright, so key levels we'll be looking at yearly
3 00:00:38,790 --> 00:00:49,320 highs and lows. That means the last 12 months and this is a rolling calendar, not a specific January to December type phenomenon. So whatever today is go back
4 00:00:49,350 --> 00:01:03,990 12 months and we'll see what the yearly high and the low is respective to those points. Okay, monthly highs and lows. And finally weekly highs and lows. So what
5 00:01:03,990 --> 00:01:17,970 we're looking for is the long term macro yearly highs and low quarterly, monthly highs and lows and the individual monthly highs and lows and the weekly highs
6 00:01:17,970 --> 00:01:27,990 and lows. Now what do I mean by weekly highs and lows. We're gonna look back last week's high low, very simple, nothing high and low. We're gonna look at the
7 00:01:27,990 --> 00:01:38,400 last three months high low. And we'll look at just the last 30 days or whatever the previous month is. its highest time as low as low and yearly again is a
8 00:01:38,400 --> 00:01:53,310 rolling calendar. from whatever today is go back 12 months, whatever the highest high and the lowest low is we'll use that as a reference point. Okay, price
9 00:01:53,310 --> 00:02:05,280 rejections. double top sweeps and liens when we see price action, creating very clean, equal highs or relatively equal highs. We're expecting that phenomenon to
10 00:02:05,280 --> 00:02:14,880 take place where price will drive above there's equal highs, reject and trade lower. double bottom sweeps. In other words, this reverse what I just said,
11 00:02:15,450 --> 00:02:25,680 anytime on the price action, we see equal lows form, we would anticipate should price trade back down to that level or close to it, it would sweep below it, run
12 00:02:25,680 --> 00:02:36,150 the sell fast below the equal lows, and then reject and go higher. In a simple run on old lows, that means running out a previous low and then rejecting that
13 00:02:36,630 --> 00:02:48,030 going higher. And then runs on old highs which is the obvious reverse what I just mentioned and lows and old high gets traded through false breakout and then
14 00:02:48,030 --> 00:02:57,510 returns back into the range trade in the opposite direction. So I want to take kind of a field trip, if you will, through price action. We're gonna go through
15 00:02:57,510 --> 00:03:06,060 the majors tonight, I want to talk about some things that I think that a new trader should be focusing on, and how you use some of these things to formulate
16 00:03:06,060 --> 00:03:17,010 an idea or understanding to build Foundation, and then start building on that with more than concepts I'll be teaching in my continuing series. Okay, folks,
17 00:03:17,010 --> 00:03:28,380 we're looking at $1 chart, this is the daily. And when we sit down and begin our analysis, based on a higher time frame standpoint, this teaching is going to be
18 00:03:28,380 --> 00:03:39,330 really aimed at those individuals that cannot do a whole lot of intraday charting, or trading or day trading or scalping. So claim analysis concepts when
19 00:03:39,330 --> 00:03:53,010 an individual that has that limitation has that limitation. What is available in terms of analysis, or techniques that we can more or less ferret out an
20 00:03:53,010 --> 00:04:05,610 opportunity to practice with our demo account. So what I like to do is number one, I just cycle through all the majors, but I begin with the dollar index and
21 00:04:05,610 --> 00:04:19,050 from $1 daily. Okay, we can see that we have been trading lower. Ever since around August, we've been consolidating and going sideways. Now. The prevailing
22 00:04:19,050 --> 00:04:33,420 trend has been down for the entire year on the dollar. And we created a rather significant low here. And we've rallied up until we've broken this high. Since
23 00:04:33,420 --> 00:04:45,060 this happened, we've been consolidating sideways but also notice that we have traded below this low and we've been inching higher. So using the things that I
24 00:04:45,060 --> 00:04:58,470 mentioned on the beginning of the video, we look for relatively obvious support resistance levels. Okay. Long term yearly highs and lows, monthly highs and lows
25 00:04:58,470 --> 00:05:05,040 quarterly highs and lows In previous weeks highs and low, I'm not going to draw all those levels on here.
26 00:05:10,380 --> 00:05:19,470 I'm not gonna draw this on there, because this could turn into a four hour video. And it's really not essential. You can go through the charts and do that.
27 00:05:19,470 --> 00:05:30,270 And I'll do it with one chart in this presentation. Real quick. But the, the idea is first and foremost, you want to see where are we trading right now? Are
28 00:05:30,270 --> 00:05:41,400 we in a trending model? Are we in a trading range market? Right now, we're in a range bound market or potentially be a reversal. If we look at the trend, it's
29 00:05:41,400 --> 00:05:51,780 been lower, we have potential reversal point down here. And we've gone sideways.  So what could eventually happen is we could shoot higher and aim for these equal
30 00:05:51,810 --> 00:06:04,380 highs. Or we can roll right over and make an attempt to go lower and retest this low or try to trade down to it and fail. Okay, we don't know that. So but you
31 00:06:04,380 --> 00:06:12,060 don't need to know that. So the question I get a lot is, well, how do I know if it's not going to go below this low with it wasn't stopped. Or if it goes
32 00:06:12,060 --> 00:06:21,930 through and continues? Well, you have to figure out where the market is right now. And if you believe it's going to go down there that offers up a range. So
33 00:06:21,930 --> 00:06:28,950 you look for opportunities between where you think it is right now, if you think it's gonna go down to that low. That's your opportunity. Okay, it's your range
34 00:06:28,950 --> 00:06:47,070 of potential profit. But as it is here, I like to look at what was the most recent run on liquidity. Most recently, we've had it trade above this high, and
35 00:06:47,070 --> 00:06:56,640 we sold off a little bit, and then we came right back, roaring higher, trying to maybe run through these equal highs again. And if we do that, we may be reaching
36 00:06:56,640 --> 00:07:07,920 for these equal highs. Notice also this low, was traded through with this low.  So we've already tried to go lower below this love, and he rejected at
37 00:07:07,920 --> 00:07:17,490 handsomely. We tried to go above this high here, let's try to sell off but quickly came back. Now this could still roll over and go lower. But right now,
38 00:07:17,910 --> 00:07:29,610 we're at a crossroads where if it goes any higher from here, and always we trade up above these equal highs that may warrant a run to these equal highs. And if
39 00:07:29,610 --> 00:07:43,020 it does that, that may be a precursor to a run even higher, okay. Or, because the time of the year, we're at the end of 2017, we're late in the month of
40 00:07:43,020 --> 00:07:53,130 December, this thing could just go sideways, between the high and the low defined here and just stay at equilibrium. Now the things you'll learn with
41 00:07:53,160 --> 00:08:00,900 experience is there certain times of the year when the market is predisposed to do certain things. certain times of the year, it's supposed to trend certain
42 00:08:00,900 --> 00:08:11,550 times a year because of the consolidation. Right now, typically, we're in a consolidation time. Okay, if you look back at the previous years, okay, we have
43 00:08:11,760 --> 00:08:23,190 the market, trending prior to it, and then went into consolidation. And then around March, we start trending down to around August or September, then it goes
44 00:08:23,190 --> 00:08:34,680 into some consolidation again. So the idea of profiling, I think it's beneficial for you, especially if you're looking at higher timeframe charts. But the main
45 00:08:34,680 --> 00:08:45,570 thing I want you to take away from this presentation is even though you're not looking at lower timeframes, you're not scalping or day trading, those same
46 00:08:45,570 --> 00:08:56,760 price action concepts. Still applying because price is fractal. That means the things that we would see in expect to see unfold in lower timeframes, just not
47 00:08:56,940 --> 00:09:07,590 tied to any real time element, we would still expect the same phenomenon took her on higher timeframe charts like the daily if we go to the eurodollar can see
48 00:09:07,590 --> 00:09:18,210 the opposite has happened to the market has trended higher as the dollar index itself traded lower. We've seen the market trade sideways as we saw on the
49 00:09:18,210 --> 00:09:33,870 dollar index. Now, again, let's take a look at some ideas here. We've had a high traded through it broke down, took out that swing low, traded trading back up in
50 00:09:33,870 --> 00:09:48,120 here broke it. Now we broke this high. We tried to go higher. And now we're seeing like equal lows. We had these lows taken with this low. So again, same
51 00:09:48,120 --> 00:09:52,350 scenario, we could be stuck in this range for the remainder of December.
52 00:09:54,000 --> 00:10:04,200 If I were a betting man, and forcing myself to take a trade where we're at right now I wouldn't let to expect it to trade lower. Now, will it gone through these
53 00:10:04,200 --> 00:10:15,690 relatively equal lows? Well, it looks a little bit cleaner for that to occur in opposite direction with the dollar index because of equal highs up here. And the
54 00:10:15,690 --> 00:10:28,530 market could in fact try to trade about these equal highs and reach for that on the Euro we have a slightly lower low, comparable to this low. But nonetheless,
55 00:10:28,590 --> 00:10:41,640 we could be overall retracing now why would that be most likely to occur and not higher is because we've had the market move one direction all year long. Then we
56 00:10:41,640 --> 00:10:52,350 want consolidation. And we broke above this high here should have ran higher, but now we keep breaking a low. Okay, so any further movement below these equal
57 00:10:52,350 --> 00:10:59,970 lows, I would see that as momentum building to make an attempt to get below these lows here. Now how much further below that we'd have to weigh that out and
58 00:10:59,970 --> 00:11:09,120 measure it at the time. But for now, I would anticipate because of the time of year, we're in late December, markets already moved, we're kind of like long in
59 00:11:09,120 --> 00:11:19,860 the tooth, if you will for that move. It would be reasonable or healthy to expect it to have some measure of retracement. Now if it trades above this high,
60 00:11:20,190 --> 00:11:30,240 then we would be aiming for these highs to be taken out. And probably a measured move something like this low to this high, add that range to this low and you
61 00:11:30,240 --> 00:11:44,490 would get some kind of projection. Okay. But right now I'm thinking neutral to bearish on the euro dollar cable. We've had a nice up trending market here. And
62 00:11:44,490 --> 00:11:57,330 this one had an ability to get above and outside of this range in here. And we traded up into almost this swing high being taken out. But this one's actually a
63 00:11:57,330 --> 00:12:07,380 very difficult market to be in right now. It's not clear, it's not obvious as to what it would want to do. So even though we've had a nice move earlier this
64 00:12:07,380 --> 00:12:16,560 year, we've gone into a condition where it's highly suspect in terms of what would be the most likely or probable direction it's going to move next. Now,
65 00:12:17,040 --> 00:12:26,820 this looks like a classic chart pattern where folks would probably see that as maybe a bull flag and maybe continuation upside. But thinking about what I
66 00:12:26,820 --> 00:12:36,750 showed you in $1 index that kind of like negates This doesn't mean it can't spike up there and do whatever it wants to do and run against the scenario with
67 00:12:36,750 --> 00:12:45,600 the dollar index. For now, I just think that we may end up seeing this thing go sideways still, or try to make an attempt to go back below these equal lows
68 00:12:45,600 --> 00:12:54,930 here. Because we've already cleared up the equal highs, spend some time up here, no follow through yet. But if we trade down and break the middle of this range,
69 00:12:55,560 --> 00:13:04,950 to find by this high to this low, if we go back below that, okay? easiest way to do if we get below this swing low, I think that'd be fair enough. If we break
70 00:13:04,950 --> 00:13:13,020 that low, I would say price try to make an attempt to get down below here to get these get these double bottoms. Okay, so we would expect a double bottom sweep
71 00:13:13,500 --> 00:13:24,600 on liquidity here, because you've already seen a double top sweep here. And we were in uncertain conditions for cable Why? Because the dollar looks like it
72 00:13:24,600 --> 00:13:35,490 wants to go higher. And even though the cable can go higher in that environment because of some fundamental factor that I don't know about, and it could happen.
73 00:13:36,090 --> 00:13:44,310 And that's the risks we have in trading. That's why we have to have stop losses and such. But I don't see that that's likely to occur, given the conditions in
74 00:13:44,310 --> 00:13:53,670 the marketplace here. So this pair I wouldn't touch. But if I had a gun to my head, I would be reaching for these equal lows because of the dollar bullishness
75 00:13:53,670 --> 00:14:04,770 as outlined at the beginning of the video. Aussie dollar this market has gone back into the middle of the range. It doesn't have any real clear direction.
76 00:14:05,820 --> 00:14:17,820 We've had a move up, retracement, move up and now we retraced we're essentially in the middle of the range. Okay, so in terms of trading, this would probably be
77 00:14:17,820 --> 00:14:28,560 a good day trading pair. But it's a short term trading or a swing trading. I wouldn't touch this one here. Why because it doesn't have a defined movement.
78 00:14:28,890 --> 00:14:37,950 And it's made an attempt to get quickly back into equilibrium, or the middle of the range and the range is defined number one by this low to this high and we're
79 00:14:37,950 --> 00:14:48,090 smack dab right in the middle of it right now. We tried to go lower. But this run here. we've outlined this in a previous video with SMT Smart Money technique
80 00:14:48,150 --> 00:14:53,070 and we've rallied up taking out clean highs. Now it's uncertain as to where it wants to go.
81 00:14:53,520 --> 00:15:02,970 So that the move is done for Aussie dollar and we would have to wait for a new setup. So the uncertainty and consolidation nature of this pair would keep me on
82 00:15:02,970 --> 00:15:16,500 the sidelines, I wouldn't worry about trading this one. New Zealand dollar is very similar, we wouldn't be looking for similar conditions like what would the
83 00:15:16,530 --> 00:15:24,810 Aussie dollar but for this pair, it looks even worse, because we've had an attempt to go lower, lower, lower lower, every low has been taken out. And we
84 00:15:24,810 --> 00:15:34,590 don't have any kind of clear defined market structure in here to work with. So at best, we probably see it returned back to this low here. And what happens at
85 00:15:34,590 --> 00:15:44,670 that, it's anybody's guess. So there's no real clear market structure here to frame analysis on. Whereas what we saw with the dollar index, and on the Euro,
86 00:15:45,120 --> 00:15:53,820 there's potential there. So there's clarity in euro dollar, wanting to potentially go lower, and dollar going higher. Every other pair we've looked at
87 00:15:53,820 --> 00:16:07,230 so far is uncertain. dollar CAD, we've had an attempt to trade lower below this low progressive, and then it came back roaring higher, eventually taking out
88 00:16:07,230 --> 00:16:17,430 this swing high, had a retracement nice optimal trade entry long in here. And we also have a consolidation. So it looks like we could be another leg higher on
89 00:16:17,850 --> 00:16:30,420 dollar CAD, if not for anything else around on these double tops. So a double top sweep, we look for that to occur. We've already had double bottom, swept
90 00:16:30,420 --> 00:16:38,520 here and then rejection. So we we anticipating a movement hire to clear out the liquidity about these equal highs. And maybe they can attempt to go a little bit
91 00:16:38,520 --> 00:16:51,690 higher up from the range that's create from this high to this low. Okay. So what I'm looking for is evidence of a clear direction where it wants to go. And when
92 00:16:51,690 --> 00:17:01,140 we have areas where like we just recently had these equal lows taken out, we're here and we rejected. We just recently had these equal lows taken out with this
93 00:17:01,140 --> 00:17:09,960 run here, and it rejected. And it's also left these equal highs in place that where's the most likely direction going to be up. And it's also in favor with
94 00:17:09,960 --> 00:17:19,980 what I'm finding the dollar index at the beginning of the video. So we could probably see a run higher. So there's two conditions that we looking forward,
95 00:17:20,160 --> 00:17:31,590 euro dollar lower dollar CAD higher, and Dollar Index higher. Now again, this is the condition that I would see right now. But the probabilities are not as high
96 00:17:31,830 --> 00:17:38,940 because we're so close to the holidays. And it's the end of the year end of the month. But I'm giving you how I would personally go through the charts and study
97 00:17:38,940 --> 00:17:50,070 and look for opportunities or price movement to study how it unfolds in the daily chart. Okay, and then we have the dollar swissy. Kind of like what we seen
98 00:17:50,070 --> 00:18:01,680 with the Aussie dollar and it doesn't have a real directional bias yet. We do have price coming down below these equal lows. We ran through that rejected. So
99 00:18:01,680 --> 00:18:09,510 we may have an attempt to get back above here. But if you go a little bit to the left further, we have relatively equal highs here. So if we had that dollar
100 00:18:09,510 --> 00:18:19,590 bullishness could see another leg higher to reach above these equal highs. So I don't like that one so much. But if we want to talk about probable levels to
101 00:18:19,590 --> 00:18:32,910 reach for dollar swissy, we could possibly see a trade up to that level right in here. And finally, the dollar yen, okay, and this pattern is a really obvious
102 00:18:33,690 --> 00:18:47,670 trading range. Okay, this pair has had a real hard time finding its way out of this range. I'm going to add on the levels to save time. And what we're looking
103 00:18:47,670 --> 00:19:03,510 at here what we're looking at here, I have the double bottoms and old highs noted and also have the yearly high find with this range here, looking back 12
104 00:19:03,540 --> 00:19:16,440 months, and we haven't defined end of this month here would be 12, four months, and also have the ranges with the quarterly. Okay, so here's March takes us to
105 00:19:16,440 --> 00:19:25,920 June, September, and we're in December now. And then obviously you can go through and add the individual vertical lines to Deline what the annual
106 00:19:26,010 --> 00:19:34,710 individual monthly highs and lows are but I didn't want to add all that because they will make the chart really busy. And the question is, you know, how many
107 00:19:34,710 --> 00:19:35,640 levels would you have?
108 00:19:36,090 --> 00:19:43,140 Well, you're only going to worry about the ones that's right now like right now where we're trading at here. The range is defined by while we just recently came
109 00:19:43,140 --> 00:19:53,610 off this low and we just recently left this high. So we're inside that range here. Okay, we're a little little bit less than halfway below that. So if we're
110 00:19:53,610 --> 00:20:04,830 expecting bullishness on the dollar, we would reasonably expect the dollar yen to make an attempt to get Higher. The problem with this pair is it's really
111 00:20:04,830 --> 00:20:11,670 stuck in a range. So you don't want to trade it in the middle of the range, you want to trade it when it gets down to an old low. You want to anticipate it
112 00:20:11,670 --> 00:20:20,340 running an old low like it did these equal lows here, run that and then rally.  Okay, we have equal lows here, we'd like to see it trade down, maybe take those
113 00:20:20,340 --> 00:20:31,080 out, and then rally up or just leave, wait where it's at and start running higher. We had equal highs here, punch to it here and then traded lower. We had
114 00:20:31,080 --> 00:20:46,380 equal lows here 1234 ran through it and also reach below this low here. So what we're looking for is old lows to be ran out, which it does here. And then
115 00:20:46,380 --> 00:20:56,460 rejection, what makes the rejection and trades back above the old low. Once that happens, you would look for an old high or equal highs to reach for. Here's an
116 00:20:56,460 --> 00:21:07,590 old high it goes trade to that we have no high here doesn't get to that it fails here. trades back down, it goes back below this old high. What's it going to
117 00:21:07,590 --> 00:21:19,440 reach for? Possibly this old low here, trades back up to this level here as a key level. This is reason why it makes these levels key by having defined ranges
118 00:21:19,500 --> 00:21:30,420 that are generic. They're not dynamic. You're not ambiguous. They are specific.  Okay, previous week's highs and lows, monthly highs and lows, quarterly highs
119 00:21:30,420 --> 00:21:41,400 and lows, yearly highs and lows. And by focusing only on those, and trading when it gets to those levels and nothing else. Okay, we're not trading in here,
120 00:21:41,430 --> 00:21:49,260 because on a daily timeframe, you're stuck, you're you have to wait for longer term setups. So you're going to have to wait for these levels to trade back to
121 00:21:49,260 --> 00:21:56,970 this high trade through it, maybe reject it. Okay, and wait for that candle close, you'll come home from work and see that it's done that. Okay, so what do
122 00:21:56,970 --> 00:22:06,810 you do in Asia, you can go short. Or you can look at the open at Asia, and maybe trade above the opening at Asia, and then sell short there, but stop above the
123 00:22:06,810 --> 00:22:15,870 high. And it may be a lot of pips because of the daily range. But again, this is for people that can on day trade, we're going to be looking for Well, we have
124 00:22:16,020 --> 00:22:25,380 this low down here, we can hold for that. And it takes a long time. Many many weeks go by before it ends up blowing out that low. Here, she could have made
125 00:22:25,380 --> 00:22:36,270 profit between this price point here. And here. same scenario, when we see this low here. Price trades down below it, we wait for to do what come back above it,
126 00:22:36,330 --> 00:22:48,570 it does it here. So we can be a buyer on this day here. And look for what price to trade to where this old high. Why because we have equal highs. So price
127 00:22:48,570 --> 00:22:55,950 trades above it. And there's your opportunity right there. This becomes another trade because we have equal highs. It's it's rally through that we're only
128 00:22:55,950 --> 00:23:06,090 reaching for market below these equal lows. So it can be a seller on the long position and go short. Looking for a run below these equal lows here. And it
129 00:23:06,090 --> 00:23:18,390 does that here. Okay, we take our profits. And because we've taken equal lows, we can anticipate a rally. Again, since we had this high, take out these equal
130 00:23:18,390 --> 00:23:27,150 highs here, we've never came back to this high yet. So that would be the next level of upside, I would expect, you know to be traded to. And if we get
131 00:23:27,150 --> 00:23:39,120 momentum through that, I could see these double tops taken out. Okay. And that's pretty much what I teach new traders start with. If they're stuck only on this
132 00:23:39,120 --> 00:23:47,040 timeframe, it takes a lot of time for the setups to form. They cannot do anything else until it trades to these types of levels. Why? Because this is the
133 00:23:47,040 --> 00:23:58,530 highest probability levels. Yes, you can do day trading entries. But again, this whole teaching was focused primarily on individuals that cannot be on short term
134 00:23:58,530 --> 00:24:08,370 timeframes. They don't have a lot of time. And they have to be looking for something only on a daily chart. This is how you would do it. So there's a lot
135 00:24:08,370 --> 00:24:18,150 of things that we could add to this. But I don't want to do too much of that.  Because again, if you're on this timeframe, you're probably very new in your
136 00:24:18,150 --> 00:24:18,780 development.
137 00:24:19,320 --> 00:24:27,570 And I don't want to give you a lot of things to worry with. Just start looking for double tops and old highs and higher lows and double bottoms and draw
138 00:24:27,570 --> 00:24:35,340 circles on that make a notation on your chart. This this line this high here and this high here. Yes, we went above a little bit and rejected but these are
139 00:24:35,340 --> 00:24:45,120 relatively equal highs. So price could come back through that again, it does.  But no, that leaves this high intact. So this is an untapped area of liquidity.
140 00:24:45,510 --> 00:24:53,400 And you're probably saying well who has a stop up there? Large funds. That's what the market reaches for. It's not your retail stop. Now your retail stops
141 00:24:53,400 --> 00:25:02,850 going to be placed where the books tell you. It's gonna be the wrong place. But the markets go to large lists. quiddity pools on the basis of other
142 00:25:02,850 --> 00:25:10,890 institutional traders, or large funds, the markets all designed to go after that, okay, your retail staff, they can't see it, they don't know where it's at,
143 00:25:10,920 --> 00:25:19,590 it's not important to them, because you're such a small little blip on the radar, in terms of liquidity, they can't pay anything out with you. So, large
144 00:25:19,590 --> 00:25:28,800 funds, they're trading billions of dollars many times. And that will have a large area of interest for buying and selling. And the market will gravitate to
145 00:25:28,800 --> 00:25:39,900 those levels. But they're going to be relative to these highs, these lows, and these double tops, and double bottoms, you can see how the market goes right to
146 00:25:39,900 --> 00:25:49,530 them, and then starts to look for the other side of the marketplace. So from a higher time standpoint, basically, all you're gonna be looking for are obvious
147 00:25:49,560 --> 00:25:57,510 double tops, and double bottoms and single highs and single lows. And where the market most recently came from, just find the opposite direction where the
148 00:25:57,510 --> 00:26:06,300 liquidity would be below the lows right here. Now this if it wasn't double bottom, or equal lows like this, say this was not a low, this would be
149 00:26:06,300 --> 00:26:16,260 sufficient enough, because that's where sell stops would be after running, buy stops about here, the market goes lower seeking what liquidity. Once you take
150 00:26:16,260 --> 00:26:22,860 that once it takes that liquidity out below that low, it's going to do what they say they're going to keep going lower for a lower level liquidity, which it
151 00:26:22,860 --> 00:26:31,830 shouldn't, because we've already had many attempts to go here, here, here, here, and then rally the way. So if we go below here, we want to see it trade higher.
152 00:26:31,830 --> 00:26:43,110 What's it going to reach for? We have this short term high, it reached above, and then we have this high right in here. Okay, so there's liquidity above that
153 00:26:43,110 --> 00:26:49,680 one, and we certainly have liquidity above there. And ultimately, if we get momentum above that, we could see the stats right out and that would be an
154 00:26:49,680 --> 00:27:00,900 agreement with bullish dollar as well, because the first currency in this pair is the dollar against the yen so dollar strength in the index would promote
155 00:27:00,930 --> 00:27:02,190 strength in this pair.
156 00:27:10,020 --> 00:27:14,790 Hopefully you enjoyed this presentation. You can find more at the inner circle trader.com