 Okay, traders that is 1pm British summertime. Welcome to this week's live market and trade analysis session with me Patrick Mungley. Before we jump into today's presentation as always you want to adhere to the risk disclaimer. Most importantly, with respect to today's presentation, the views information opinions expressed by me are solely mine they're not indicative or representative of those held. by Ticknell UK or Ticknell Europe Limited. Those of you who have the first time brief introduction to myself after I graduated from university. I joined the city PLC consulting firm. I left with some colleagues and went on to successfully co-found and exit a consulting startup focused on C suite executive search for technology businesses. I essentially had a front row seat to the dot com bubble, witnessing people make and lose a fortune in the markets sometimes quite literally overnight with some capital to play with and some time on my hands. I started day trading or probably more appropriately day gambling the S&P 500. After some early beginners look I wrapped up some pretty solid gains however, as is often the case my beginners luck ran out and as the market phase changed. I began to average down giving back all my gains and ultimately experiencing a significant six figure hits my capital say this was a gut wrenching and several experiences and understatement. I really have to stand back and figure out if it was feasible for me to make a living from the market so I decided to get serious about trading and sought out a mentor with an excellent trading track record. Working with my mentor for a period of 18 months two years was the time during which I was not just my technical game in terms of researching developing sensory back and forward testing strategies that crucially suited my personality, all of which were underpinned by a rigorous risk management approach. Most importantly, during this period of mentorship, I significantly developed my mental game and probably most importantly of all, I made the watershed shift from being a highly goal oriented individual focused on financial gains to becoming purely process oriented. So what does that mean? Well, it means I had stopped focusing on what I could make from the markets and start focusing solely on managing my mindset to allow me to consistently execute my trading strategy, oftentimes in the face of negative feedback from the markets in the form of losing trades, but once you become process orientated, you have a professional trading mindset and you understand the true nature of trading being a numbers game in which you're simply playing the probabilities. You lose the emotional investment and hellish emotional rollercoaster of living dying by the outcomes of individual trades. So I'm no longer concerned with the outcome of individual trades or even a small string of trades. My focus is on the next 100 trades. So I know if I focus on excellence in education, my edge will demonstrate itself over an extended series of outcomes. My multi strategy approach has delivered profitable annual returns since 2008. Since 2013 I've also been managing investor capital through managed accounts, service delivery again annual positive returns. I'm currently responsible for managing a multi million dollar portfolio. Since 2010 I've also entered hundreds of private traders have all experienced levels from complete novices to former CME floor traders in developing the technical and mental skills to read consistent returns from the markets. In addition to my fund management and mentoring, I'm a resident market expert exclusively providing market and trade analysis to Ticknell clients. I provide an in-depth daily market outlook breaking down fundamental and technical drivers for the day ahead. I also provide daily technical trades setup videos and they're shared through the Ticknell trading view accounts. I also run Ticknell's rapidly growing E-mini strategy Facebook group where I post a daily video outlining my pre-market trading plan for the S&P 500, giving my bias for the day ahead, specific action areas where I'm looking to engage the markets. These pre-market plans have delivered over 2,900 points of profit since group launch last April. Second Ticknell strategy group I run is for traders who really want to take their trading to the next level. In the future's trading telegram group is a real-time environment. On a daily basis I share in-depth insights, analysis and trades. I also provide live commentary during the opening hour of the cash session where traders can essentially see in real-time how I market and identify asymmetric trading opportunities. These sessions act as a platform helping traders to develop a consistent approach to navigating the markets and those mental mind games that must be mastered to make it as a profitable market operator. Okay, so that gives you a flavor of where is I'm coming from. Let's jump into the charts again this week. We're going to use these four hour charts and we're looking at very specific trading levels that I'm tracking for the coming sessions ahead. So the S&P 500, last week we were looking for an upside advance, we were looking to test into the 4033 which was the equality objective, we got that test yesterday. Now we have this ascending trend line resistance, excuse me, at 4050, we have the weekly R1 at 4048. So coming to today's session, I'm looking for any pop-up into this area, whilst we maintain negative bearish divergence using the momentum study here, I'll be looking for bearish reversal patterns, initially targeting me back down into the 3968 which is the value area high. So the next objective will be down into the weekly pivot, 3936, and ultimately what I'm anticipating is that we retest trend channel support and the high volume back down into the 3770s. The alternative scenarios we break out through this resistance at 4060, if that's the case then we look for a move up to test the 4100 as the next upside objective. Similar setup here with the NASDAQ, I'm looking now for any corrective moves here, let's just draw this in. So if you think about a three-wave correction here, and then a move up into the 12801 which again is that weekly R1, we've got the ascending trend channel resistance coming in there, we've got daily projected range resistance. So I've been looking for bearish reversal patterns there to engage on the short side, certainly thinking about the move back down into the midpoint of the channel here, and the value area high coming in 12,240 as the initial downside objective on that move. YL on the Dow Jones, again similar setup developing here on all of these indexes really, we're looking for a pop into the resistance zone at 32,430, daily projected range resistance above the weekly pivot there, and that projected ascending trend line resistance, watch the bearish reversal patterns in there, first target is down into daily projected range support and the value area high at 31,750. Russell, this is the trigger we were looking at last week, it's still running nicely, so if you're in this trade now, certainly you want to stop to entry and let this play out into the target zone. Let's bring in some some trend channels here and get an idea of where we can be heading so this is going to with me there we go. So that's blown that up and get. So we're actually sitting right at the resistance area here we've broken it in terms of the initial leg there so we can hold this position now it's risk free and we look for the target to be achieved at 1864 on the other side. And that we've taken out the equality objective already so yeah 1864 remains the target on that position, if you are in it. DAX. This one I posted yesterday, looking for an upside extension here in the DAX to target the gap fill, which is 13,789. At this stage it would really take a close back through 13,000 to suggest that the side is done for now, and then we'll be looking to move back into this high volume area at 12,829 and see if the bulls step back in from there. Nothing for me to do in the nick of the moment let's move to the dollar index and see where we are to the dollar testing that trendline support and talked about last week getting a nice bullish reaction here. So any break of the trendline resistance 107 16, I think that could set a base there for the dollar to make one more move up to push towards the 110 area, but we'll have to see if we can get that close through the trench line resistance before looking to engage on the long side. Similarly in the euro here we're sitting right at trendline support we were looking last week that test of the 103 60 103 50 didn't have the strength even to get up there so any close back through 109 30s. We should be retesting in pretty short order. The sorry not 109 30s any close back through 1009 1009 60 sets of a move back to test this volume volume area at the 10020 and more likely than not we take out the prior loads and we look for a test down into that 98 area. And then from there I'll be watching on the daily timeframe for bullish divergence and bullish reversal patterns as a potential for a more meaningful correction to develop sterling sitting right at that trendline resistance so we had this long trade last week it could be training to the profit target there, giving 280 pips of upside, now getting a nice rejection here so let's just remove these drawings and give ourselves a potential entry point here. So quickly now that we have seen the correction complete here and certainly end break of the trend channel support back through 120 10. I would anticipate we're heading down for a look to retest the prior lows here at the 170 60, and then on the daily timeframe I have a downside target of 115. So at this stage we really need to trade back above the high value node 122 70 suggests we have a more meaningful low in place. So again, so we've got a double correction developing here so when I'm talking about double correction what I mean is we have an ABC, and we have an X, Y, and we've been looking for something like this to play out and into the equality objective the 130 370 we also have the value area low there so from there be watching for bullish reversal patterns to engage on the long side, looking for that 140 as the next step side objective for the dollar yen. And then breaking down and weighing on the euro so we have a downside target now 134 98 is the area I'm going to pay close attention to is that then could complete the broader corrective move and so again we're talking about WXY pattern here. So we have WX and then we are why we're complete here just below 135 to pay close attention to how we trade then bullish reversal patterns, and I'll be looking to engage on the long side in terms of the dollar yen. Sorry, Euro yen sterling yen similar set up we didn't quite meet our target zone for the short trade. Last week so now we're looking at downside equality objective. So we have this initial leg to the downside, and then we have our corrective higher there. So we're looking for a test now 159 18 on the downside. The opportunity for me here would be any break of this trend line support here so you can get close through there. That's an opportunity to engage on the short side, looking for that move down into that 159 target zone on the downside. And then fell out of its channel. So again, bunch of these ends now have some decent corrective setups, developing this should also see some weight added to the equity indexes. If we start to roll over here so in terms of the downside target now as we take out trend channel support here, we're looking for a test of 90 30 on the downside. Double corrective patterns so we don't expect it to just fall in a straight line. What we'll be looking for is another leg like so and then we look to engage on the long side again in terms of the Aussie yen. Again, it's sitting. If I'm not mistaken, let's see. We are sitting right at this trend line support. So if we take out this trend line support and this high volume. Sorry, high volume nodes. Then the next downside objective is going to be a test of the value area know 104 10 and that equality objective so any close through 105 30s is an opportunity on the short side, targeting and move down next objective 104 10 in terms of CAD yen. So I think to do the Aussie has a decent set up developing here posted this one earlier today. So any move into 69 30s. High volume just below 6900 watch a bullish reversal patterns here we want to engage on the long side and we're targeting a quality objective versus this swing structure here, which gives us the upside target of 71 cents. So this is going to be a key test now for this Aussie yen if we get a reversal there that I'm going to be in on the long side. Kiwi yen. This was a trade from last week that I gave and certainly risk free now and pull back into the trend channel and opportunity to engage a game on the long side. This is a target in the upside 64 30s. This stage, you take a loss of this pivot here at 61 19 to suggest we have a more meaningful high in place, and then we'll be looking for move back down into the price cycle lows at the 60 60 level. Again trade given last week working really nicely about $50 at the moment. And so what I'm looking for here is an opportunity to add to long positions, or potentially we could get a counter trend short here. This is the right the trend channel so any pullback now into this trend line support 1720 I would be looking for bullish reversal patterns to add to my long positions and the next upside objective then becomes the top side of the trend channel 1780s long position working nicely. Crude oil. Nothing for me to do there we have taken out trend line resistance no clear pattern to me at this stage. So good silver actually. What I'm looking for here now is a inverse head and shoulder so this is our left shoulder this area here is our head. Then we're going to look for this scenario to play out so as we hold resistance here, we look for a corrective move to test now into 1870 from there we want to engage on the long side. I'm certainly be thinking about move up into monthly projected range distance at $20 40 so pay close attention to any test into that 1870 area, especially if gold falls back as well, but I like both of these, these metals at the moment. Let's take a look at Bitcoin, still trying to build a base here. My biggest concern though with Bitcoin at this moment in time is that we are replicating this phase of price action here. And I'm really not looking to engage in terms of building a position in Bitcoin ahead of that 12,200 area, which is that long term daily target that we have but you can see here. This area is being potentially replicated in the price action we're seeing down here so another buyer of Bitcoin at this stage, I think we still need to test that daily to downside objective, believe it's 12,185 before I will be looking on the long side. I'm going to finish up with a opportunity I'm watching here in sterling CAD. Let's go back into trend channel support here at the 154 70s, what's with bullish reversal patterns there to engage on the long side, targeting this trend line resistance that comes in 5739 and then from there be watching bullish reversal patterns to engage on the short side, talking move back down as the high volume mode at 154 90s. And that's the whistle stop tour of the charts that I'm tracking this week guys, and the opportunities I see developing I'm paying very close attention to these equities in this in today and tomorrow session, as I think we're reaching a potential exhaustion here, and we could be looking for another move to the downside, equally the dollar, if we can get through that 107 I like dollar strength your weakness sterling weakness is another player monitoring closely and I'm obviously the metals gold and silver holding I'm looking to add to those. Are there any questions. If you don't have a question, typing in the chat box is helpful or if you have a chart you want me to take a look at that I haven't covered. Happy to do that you just type it in. I'll put the Facebook group link in there you just request access, and you get access to my daily trade plan for the S&P 500. And the other thing I will post for you is the signal trading view account for those who are interested in following along with my daily trade setups is posted there for you also can't see any questions coming through guys so I'm going to wrap this session up here. And as always traders plan the trade trade the plan. The most importantly, manage your risk until next week. Thanks very much.