 Hi, my name is the world currency trader and trading coach at trading 180.com Welcome to this with supply demand for us and gold fundamental and technical Analysis if you're a new watcher to the channel, we'll welcome to you And if you're returning illegally, we'll welcome to you and please don't forget to like subscribe and share if you find the analysis that provide every week useful to your trading and so Let's get into the week ahead and looking at trading economics 5th of June week starting and this is after the debt saga It will be relatively quiet weakening in the United States with only the ISM services PMI, which actually you know Quite important factory orders and trade data of significant importance elsewhere investors will be closely following monetary quality meetings in Australia Canada and additionally may inflation rates are set to be released in China And Switzerland is the other Guess country that we would watch and so other important releases include first-quarter GDP growth rates for Australia as well as services PMI for Says China there Spain and Italy. I guess that was Spain and Italy will make up obviously the eurozone, but Spain and Italy aren't really That important when it comes to eurozone Data is more, you know, France and Germany that kind of make up the bulk of The what trades are focused on finally foreign trade data is anticipated in Australia Canada China Germany France while labor data will be released in Canada and retail sales figures in the euro area, so That's what's coming up in the week ahead and let's look at some technicals and what happened Last week so that we can make some better decisions as to what may come in the future. So Looking at the dollar index, which is the measure of dollar strength and last week. I was Took a bit of a break. It was back holiday weekend in the UK I think it was also Memorial Day in the US So I didn't do a video but over the past couple of weeks. We've seen the dollar actually make this This rally and there's fundamental reasons as to why so What it was really actually before I get into that Let's get into the recent news, I guess which is US labor market sends mixed signals giving Fed reason to pause and so Not far payrolls pretty much came out way above Expected and I was saying this to the guys in the Private mentoring group is that I've noticed that over the past couple of months is that the forecast have been way off the bank forecast have been really way off because the consensus was for The reading to be somewhere around the 180s 190s and it came out as over, you know, 300 339 so I'm not on payrolls increased But we did have Some counting used to that so that was the headline figure, but the counter to that was that unemployment actually went higher to three point seven and wage average wage wages went About zero point three percent in line with their expectations. So it was a very mixed Report but what does the data mean because ultimately we need to interpret the data as to what the Federal Reserve are likely to do with interest rates because ultimately Interest rates have a massive influence on on the value of a currency, right? and so The the market is is thinking that the Federal Reserve will pause is likely to pause rates And so Let me just scroll down a little bit And it says here says the markets reacted to the pale the advancing payrolls with treasury yields jumping off the report Traders up their bets of fed hiking rates by the end of July the bets on a June hike also rose though investors still lean towards an Expected pause and for the Fed however quality makers will also be looking at the surge in unemployment rate Which was the biggest one-month increase since April 2020 There were four hundred and forty thousand more people out of working Out of a job in May also the largest monthly quiet since the onset of the pandemic and so It says the mixed nature of the report may validate Chair Jerome Powell's approach to pausing interest rates to assess the impact of 5% point hiking in 5 percentage points of hiking so far because when central banks Hike rates, there's a basically a lag in the effect and what they see and how the rates actually affect the economy and business and borrowing lending, right? so the Really the thing is that they're going to skip in June and potentially hike in July and that is really reflected as well in the Fed watch tool, right? So We have the probabilities of no change it's still at 74% and the last time this was updated was The fourth of June, which is the day that I'm recording this so no change so far 74% probability where is our hike is? 25% so you really want to go with the highest probability You can be contrarian, but you have to really have a reason why you want to be contrarian But it looks like at the moment with all the data that's Come in that's we are likely the Fed are likely to pause rates now Go down to here. Then if you can see that I'll zoom in a little bit The reason why the dollar was rallying yeah, the reason why the dollar was rallying Over the past couple of weeks is because in fact the market was expecting There to be a 25 basis point height. You can see a week ago. Yeah 26th of May in fact The expectation and the probability of a rate hike. Yeah, this is rate cut This rate height 25 basis points was actually 64% of the market was pricing in the The value of the dollar with a hike. Yeah coming in June Then we had a bit of interesting information come out on Wednesday So the Fed signal for rate cause takes pressure of hot jobs report And so on Wednesday There was a Speech and the Federal Reserve official was a signaling they plan to keep interest rates steady in June while taking so While retaining the option of verbal hikes in the coming months steering market expectations Head of a key employment reports that was it was governor Philip Jefferson centrist who nominated to be vice chair Who often echoes chair Jerome Powell's views said Wednesday that skipping an increase would give quality makers time to assess the data the not preclude future tightening and So when he came out and said that The market basically took notice and said okay well rather than them hiking pretty much they're going to pause and so you saw the probability of a hike reduce Yeah, and so you saw the From a week ago you saw the probability of a pause increase right to To where we are now and that is reflected in the market right reflected in price in terms of you know the dollar coming down and so I Do think ultimately technically that the dollar Is a bit of a tricky one because I think that the dollar can go higher right can go higher with because the expected Hikes may come in July rather in June So this is what is known as a Fed skip in an interest rating if we go to July in fact July We can see that there's actually a 53% chance of a 25 basis point Hike in July. So from that perspective, I can see why the market the data supports the narrative in terms of You know inflation still is sticky or going higher Then this the probabilities of a great hike in July going to increase and therefore you will start to see the Dollar actually still continues to go higher, but I don't think it's gonna go too much higher in terms of You know a supply zone here that the highs of really the year if it's gonna reach these but again It's really gonna be data dependent. So I can see why you want to get short in the short term All right with the market pricing out Rate rate hikes in June, but we could also be supported by in fact Rate hikes in July being priced in so I can see something like this happening over the You know the short to medium term in terms of getting you know make an argument for getting long and getting short on the dollar But again, it's data dependent And so these are the areas that I probably look for you know shorting at the moment the current levels or at the Absolute highs to short a dollar But I can understand why prices do pull back to these 103s one or two fifties Why you would probably may want to get long in anticipation of a July rate hike So moving on to the Dollar yen again with the Fed expected to hold rates and skip in the Bank of Japan holding rates possible your curve Control adjustment in June July looks like ended July now. It may be coming I think we could start to get in fact a move to the absolute highs here And then move to the downside as we approach the Bank of Japan starting to Potentially implement your curve control, which is a measure of What we basically appreciate the currency and so That's a lovely more over the next month or two But again in the short term with the dollar looking to continue to high crates You can see the difference right in what's happening with the divergence in between central banks and so We're seeing this this time you've happened and I think in the short term We probably may start to see prices still continue to go higher I would be surprised if you start to go to 146 because there was talk of central bank intervention from the Bank of Japan But I do think that the 142s may be the ceiling For now and that also again just depends on our data. So we also have the The dollar Swiss and the dollar Swiss We have yeah again pretty much caught between This supply zone and it's demand zone, which I do think that prices may likely optional range between I'm not really interested in trading this pair At the moment I can see there's reasons why but both central banks put a look into high crates And so I do think that price will likely again auction, but it depends on really what the Fed is going to do In July so we could see some more further upside to meaning that you will buy on pullbacks But I think that the upside is probably likely to be capped as the Federal Reserve start to Come to the end of their hiking cycle the dollar cad and dollar cad the Canadian dollar was was quite interesting because As The report here says loony poise for rally as traders bet on Bank of Canada rate hikes and there's been better than expected Data coming out of the Canadian dollar and so that's increased the charges of a rate hike and so again when you have you know the Two central banks that are looking to hike or hold you typically get More of a an auction right so an auction is really a range prices kind of contained between a high and a low and so You know with that being said, I think The the Canadian dollar is probably a buy But I do think that not really against the dollar maybe a different currency currency That's not really looking to potentially high crates if the expectation is that they may make hike I think the consensus for now is that they are holding rates at the next meeting But maybe towards July August they could start to high crates and if they do Continue to will continue but they do high crates again after pausing for so long You are likely to see the Canadian dollar actually strengthen against the The the US dollar or at least come down to these these areas here So yeah an interest very interesting Head when considering the fundamentals, but from a from a trading perspective I think this level has been touched several times and not to you know keen on on any of these levels Technically, I probably have to wait for what we want to be a buyer It'd be really up at these highs here before looking at getting short or down Maybe something like these lows before getting long To get along the US dollar New Zealand dollar my bias would be to short this pair reason beings because the The RBNZ the New Zealand Central Bank are Actually seeing that they are pausing rates and so that being said you've got one a central bank Which is looking to although hold rates And skip rates in June they're looking to potentially hike in July and if that does start to you know increase in probabilities Then I think you want to see further downside on this pair As one central bank is continuing to hike on the other is continuing to hold and so Yeah, that's where my bias is you do have a demand zone around here if you do want to be a buyer of the The New Zealand dollar you see in order to get Short on this pair from a supply and demand zone perspective you even have to see price to something like this Prices make lower lows and then a pullback into that zone before going Short or you may see price do something like this where Where you have you know, maybe price make a higher highs doesn't quite get up there but starts to make New low and then you get a pullback into that supply zone before looking at getting short So those are really the options That you look towards if you want to get short at the moment on this pair Pound dollar pound dollar benefiting from recent Dollar change in sentiment in terms of hikes, but come up into the supply zone The pound has been the there's been a decent buy overall because the central bank is looking to hike rates and so But hiking rates will have an effect on The economy right and so former Bank of England policymaker says UK's most painful period is still ahead Former Bank of England policymaker says full impact of rate hikes coming and falling real wages set to collide with surprising We'll say rising prices and rates and it says here Former Bank of England policymaker Michael Saunders said the UK economy is headed for a more painful period after the quickest Excession of rate hikes in for decades take hold So it says it normally he said it normally takes about a year for peaks for the peak effects from changes in interest rates Saunders said in Bloomberg's UK politics podcast You haven't yet felt much of the effects of the big rises in rates That pain will come through and it'll come through in the next few quarters And that's really the reason why the Fed are looking to pause and that's why Going back to Fed Is it Williams? Sorry, Phillip Jefferson was saying the same thing right because they want to see whether The the effect of rates on the economy for hiking again. And so the same morning really Is is coming for the bank of the UK right where he's saying that the Effect of rates on businesses in the economy has yet to be felt so if they keep hiking now He may actually hurt the economy more In the future so You know, that's obviously his opinion in terms of where they should you know hold or hike now, but some the The UK the Bank of England are still hiking Or expected to still hike is what the market expectation is and so With that being said, I still think a pullback into any kind of demand zones I think are buying opportunities, especially if the Fed Come to the end of their hiking cycle sooner than the British pound But if any news comes out where the British pound they the Bank of England pretty much say And they're not looking to hide crates or to look into pause then you could see prices start to pull back as well And go to the downside See at these the areas that I think I'd be more interested in shorting the pounds at least highs And buying the pound probably at these one two three's and even better if it was just below that Maybe at the one two two fifties one two two areas, but I think if you buy here I think that's a decent area to look for any kind of buy trades as well Euro euro dollar so euros pulled right back. We've had this absorption from his height is low and The euro at the moments All right, euro at the moment DCB are still looking to hike rates, right? So your core inflation eases But won't stop easy be hiking so underlying consumer prices grew five hundred percent From a year ago, and it was estimated five point five percent Christine the guard said You still have a lot of ground to cover on rates and so Still hawkish even the inflation is coming down Slowly more core inflation, which is one of the measures that they they look at and they focus on And so with the the euro, I think still being hawkish I think any pullbacks at the moment are buying opportunities, especially as the Federal reserve are looking to Basically hold in June so you could see a flaw when it comes to this move to the downside and again It's movies more driven by the an increase in the Fed looking to high crates the probability In June until it paused and you notice that since You know that turn around in on Wednesday and the Fed signaling that they likely to pause and we've seen You know a floor around this one of six fifty area one of six thirties Doesn't mean the price can't go any lower. I think if it does, I think and um, they'll be a bio buying opportunities as long as the the the ECB continue to Remain hawkish and so if you do want to find out a bit more About really the details because in my YouTube videos I kind of do a bit of more surface level analysis and not a lot people have been asking The trading 180 mentoring group is gonna be open on the 19th of June, which is 15 days from This recording so not only do you get access to the mentoring group? And we have the discussion room as well as many channels within the Within the discord group to help you and aid you not only the technicals, but with your fundamentals in the psychology I Have hundreds and hundreds of videos past videos That were really kind of meant member only videos And you can go back and watch all of the mentoring videos trade setups and fundamental analysis and group calls live group calls that we have on a on a Wednesday and Also as well get access to the fundamental analysis spreadsheet which I show my bias on and We back that up with Bank analysis as well from the likes of city bank As well as A and Z and many other banks and so it's not just necessarily us Coming to a conclusion about Where we think prices are going we back that up with smart money, which is the banks and look at their forecasts To really gain an edge in the market. So if you do want to join a Roman starts on the 19th of June now back to be the charts looking at the Australian dollar and the Australian dollar Recently has bounced off of this demand zone for a couple of reasons one being that obviously a change in in the expectation of the dollar And whoever the Fed are going to hike rates for also the fact that the Australian dollar had the CPI come out which was better than expected which forces or say forces, but it Will convince I guess that the central bank that they could potentially start to hike again As they did do a kind of like a hawkish pause and then it is a price hike and So they really want to try to get inflation down and if inflation keeps going higher It means that they're gonna have to continue to hike So Australia's relentless price pressures boost rate hike bets a monthly inflation rose 6.8% versus forecast for 6.4% increase that was above if the forecast It says Australia's inflation accelerated faster than expected in April driven by a higher fuel and housing Prices snapping three months of cooling and boosting the chance of another interest rate increase next week. So Let me see that reflected on the price chart. You can see what's happening, right? He increases in all the chances of probability in a hike of being Priced into the market. So I think any pullbacks you could look for actually a long trade As long as the Fed are still expected to hold in the short term So that could be a decent buy if you want to get long on the On the Australian dollar, of course, there is an opportunity to short as well But in the face of a expected hike, I'm not too sure whether I'd want to go Short on the on this pair not really a pair that I'm interested in trading at the moment plus as well China Needs to have really some supportive data So what I'm waiting for in order for me to really get long on the Australian dollar, especially get something like the US dollar And finally gold and gold has been supported again at this level must have Plotted this a couple weeks ago. So we had a 1940s where it didn't actually react to and We've seen prices obviously pulled back a little bit with gold there was a report from PIMCO saying that Gold is overvalued, but has long-term appeal. It's essential banks will struggle to cut rates This Greg sharing out and bullying down in May following rally started in November. So really there Rally was again more to do with dollar strength and I see the rally But the rally kind of to the downside of the gold and the rally to the upside over the past month or so For the dollar was really driven by the expectation that the Fed will Look into high crates But here's a quote says the biggest challenge one has right now is to figure out the lag defects of any credit tightening It's coming from some of the central banks. I said share now the uncertainty banned still remains fairly wide And my mother's session in the developed markets are more more than likely But while the Fed may be nearing the end of its tightening cycle that doesn't preclude another hike the PIMCO executive said Central banks could struggle to bring down rates if In the face of the globalization and so called green station as the world shifts from fossil fuels to renewable energy Still the long-term outlook for gold which she and I cause a 25-year duration asset looks brighter Central banks look to diversify holdings away from dollar assets There already has been a tremendous amount of interest from central banks that have helped support billion in recent at recent levels He said so the safety and security of gold right now has a has a high currency to them He said there's a lot of countries that are questioning their dollar reserves and so You know in the short term we can see gold You know pulling back obviously, but I think obviously in the long term for me medium to long term Any pullbacks on gold especially as the dollar starts to come Devaluing if it is going to go into a recession then these prices are looking actually quite cheap for gold And I would expect gold to go higher during a US recession if they do go into a recession of course Nothing is guaranteed and so That's where we are in terms of buying if you do want to get short on gold Then in fact, let me just bring this down a bit The last Probably around here in fact That's where we are. If you do want to get long on gold any pullbacks into even into this 119s around here is decent So you go down into a lower time frame and look for any kind of buy trades around here But again, that's providing you want to get long golden short on the dollar. If not, then I think Any prices down to the 1900s 1890s are going to be really nice and I think a bargain as if you look at the absolute high and the absolute low We are a fair value 50% of that's fair value Of the high and the low so I think pull back into these zones going to be definitely nice discounts and bargain prices as we come Towards this this low here prices do come down. So, um, yeah That's where we are. There was a supply zone right here Supply so intraday wise see why prices did bounce off of there But I think as again the dollar starts to Weekend going into the second half of the year or expected to weaken into second half of the year You could see gold against start to look to be a buy Anyways, that's it for this week. I hope you'll have a great trading week. Take care and all the best Like you said, you know when I first came the trading 180, you know, right? So when I first came I was just I was focused on the fundamentals But so it was kind of hard for me, you know to to do the strategies with you know With the technicals, you know, that's why, you know, what if you remember when I first came I was kind of like backtesting them. I wasn't I wasn't actually trading them You know, I was just backtesting them But and it came to me man when I seen how Effective they was, you know and catching bargain prices, you know, and I try to understand that, you know, the Mantis, you know of what, you know, how you trade Man it's spot on Hi, my name is Leon Roe currency trader and trading coach at trading 180.com and in this interview I have a Trader who has come leaps and bounds with his trading Spencer joined Joined what? 2000 was 2021 something like that. Bimimi maybe about a year and a bit Yeah, and Spencer's agreed to share his experience with trading 180 his trading journey and where he is at now with his trading since being with with me and mentoring and the trading 180 groups So Spencer, how did you get into trading first of all? Yeah, so how do I get into trading, you know, I Had always had this little intriguing attitude with you know wanted to you know, you know be my own balls Or you know do my own little thing or whatever So I got into trading because you know, I was just thinking like man How can I make that money work for itself instead of me have to work so hard for the money You know, I you know, so and I actually and and I'm like Chet BG GPT you know because you know, you can look it up, you know, so and it and it came right up trading You know, I'm saying, you know, so that's actually how I really got into training. You know, I'm saying it was Investing, you know, I'm saying yeah. Yeah similar stories. I Included myself, you know, so many stories and interviews I've done with traders and everyone pretty much says the same thing in terms of look Just taking control of your destiny knowing that a nine to five isn't gonna be the way that you're gonna achieve any kind of, you know Quality of life, you know, I mean you're in the rat race, etc. So 100% So how did you find? trading 180 You know, I Like I want to say that I like YouTube and you know, man, you know, it's going through those periods You know where I was going through YouTube and you know, and I Was always into the technical analysis side of trading because I used to trade options properly, you know back in 2008 and You know, they have a lost a lot of money, but I understood so I was looking up Fundamentals one day and trading 180 popped up, you know, brilliant Excellent. So what made you think about what made you think about fundamentals though? What was what was the trigger about fundamentals that you thought, you know, that you needed more? with with with with your technicals, what was the Moment, yeah, so the technicals like they work. Don't get me wrong, you know, they work But it was like it was just it wasn't enough, you know, I was looking at the market and you know When I was I go and I try to read articles and Lord knows I wasn't understanding nothing at that time, you know Before I had met you. I wouldn't you know, I wouldn't I didn't I didn't I didn't know what those articles was saying What is this, you know, they talking about jobs and you know, GDP and I'm like, oh my god What's this, you know, so I didn't know anything about that stuff man. So, you know, man That's another thing trading 180, you know, I'm saying, you know, when I first looked at that first video, you know, man, you know, it was it was about Fundamental analysis and all those fundamental indicators that you look at and you know, and I'm like, okay, this was that was that was that really brightened me up You know, I said, okay, this is why I need to be, you know, yeah, okay. All right, brilliant So how I guess specifically has fundamentals since you've been trading it And applying it to your to the technicals, right? How has that I guess How was the fundamentals really helped with your technicals specifically? So, so how fundamentals help me? I would I would say you trading blind without techniques I mean without fundamentals, you know, I'm saying now that's what me I would say I would say I wouldn't even open up a chart now and not look at the fundamentals first Yeah So how so how because coming I know my experience and How easy is it to actually or I guess the shift because it takes some time for you to Get used to going to the fundamentals first and then the technicals right and then you go open a chart Most people most traders they go to the chart first Then they look at them then they look at the if they even look at fundamentals that transition You know of always looking at the chart first to then going to actually know I'm gonna go to Bloomberg or Reuters or you know, many of the bank analysis that we look at or whatever you look at and read that Transition was that a quick transition or was it like a gradual thing? Did you have like those kind of habits where you would look at the tentacles first and you know, I mean So, you know Why I say man, you know for traders, you know, we come out, you know, especially for race You know, we look at the quick buck, you know trying to make the quick buck So the technicals is kind of like a little false little quick buck syndrome Are you thinking like man, you know, I'm going in, you know, I'm looking at the quick dollar and now, you know So, you know, I would say you know I think kind of gradually change, you know, because I've got out that quick buck thinking because, you know Now I'm losing quick bucks, you know, how you how you your wrist, you know I mean, you know, you know how your reward is, you know, the greater your wrist So I got started, you know, I'm like, man, you know, and I gradually changed to the fundamentals, you know And like I say, you know, I wasn't a fundamental guy until I really came, you know to trading 180, you know And, you know, and you you kind of made those news reports I mean, you know, the auditors, you made them sound so clear to me, man So, you know, now we're, you know, like I say, I wouldn't now I look at the fundamentals first, you know Before I even pop on the chart, I look at what's going on with the economy, you know, what's going on, you know And, you know, I wouldn't I wouldn't surprise nobody to not look at the fundamentals, you know, first Yeah. Yeah. And I guess as well, fundamentals can be very daunting. Yeah. So you said that, you know, you didn't You know, you might have been reading some articles and you didn't have a clue, you know, what you were reading, you know The relationship between jobs and maybe inflation and the economy and how everything works Because, you know, fundamentals can be very, I guess, complex and confusing, right? And so now that you can now that you understand the relationship and what to kind of focus on, it makes it really It makes reading those articles and Bloomberg a lot easier, right? And then now, you know, I mean, now you can actually understand what the big money are actually saying Right, you know, and why they're forecasting what they're forecasting rather than just, you know, taking lead from someone, some random person Analyst online, right? You know, I mean, it's saying, okay, that person says, but I'm gonna buy in fact, you can make up your own mind Because you know the fundamentals Right, right. And then like I say, man, you know, just, you know, man, trade 180 man, you know, I say, man, it's a great Community, you know, everything is, you know, and we got a good culture, you know, and you know, like I say, and then from when I first came there, you know, and everything Like I say, you kind of simplified it, you know, with the GP interest rates and inflation and jobs. Yeah. So yeah, the way I learned from you, you know, we kind of, you know, simplified it, you know, and made it easier to understand, you know If that makes sense, you know, where, you know, I was able to just, you know, look at, look at these and understand them and, you know, you know, and if I had questions, you know, you would answer them for me, you know And that totally made me understand. So, you know, right, right, right, start to put together, like, right, the relationships between inflation and, you know, jobs and, you know, GDP and, you know, and it served Yeah, and you just, and you see it play out in the price in the markets over time, right? You've seen that, you know, you've seen it do Yeah, I mean, you know, seeing them, you know, you know, just say you supply demand zones, you know, we wait, we understand what's going on with the country, you know, and understand what's going on with the fundamentals now. So now we're just waiting on the best price. Yeah, yeah, absolutely. And so what are some of your, you know, light bulb moments because we all have these light bulb moments and I had many when I was learning, you know, where you just like, oh my gosh, like your mind just blows and, you know, I mean, you get another one and sometimes you get maybe 10 or 20 but maybe some of the light bulb moments where, you know, certain things just clicked So a light bulb moment was for me was when, when I first learned about basically like, you know, currencies, currencies, you know, say, you know, and that might seem so simple, but what is a currency, you know, you know, and there was a light bulb moment like, you know, this is just a means for exchange, you know, where we, you know, countries exchange in currencies for, you know, this currency and that currency so, you know, we get blinded by, you know, what currencies is, you know, and that's what Forex is it's just, you know, so I found out that how interest rate differentials, you know, can and capital flows and, you know, it's basically the it's the basis of currency, you know, and, you know, when I found that out, that was like, you know, and I think traders list that simple fact like, man, what is currency, you know, I mean, like, it's means exchange, like, you know, store value, you know, like, yeah, it's a very interesting, very interesting point you make in terms of just that simple fact, right, because not every asset class is the same. So a lot of technical traders will, they will trade the same strategy on every single asset class. But in fact, you actually have to treat assets differently because they have different fundamentals, right. Right. You know, I mean, and so you have to know, I mean, yeah, we do have intermarket analysis and everything is related bonds are related to Forex Forex, you know, is related to, you know, stocks, etc. And in terms of interest rates and things like that. But typically, you know, it's important to keep that in mind, you know, what moves the exchange rate. And what moves an exchange rate, yeah, is not going to be the same as if you're trading stocks. So the fundamentals of stocks is different and indices are different to Forex and just remembering that point that in fact, this is what actually moves Forex market, it's not the technicals, it's, you know, I mean, what's going on behind it, right. Right, right, right. Definitely was a light bulb moment. Yeah. Like, whoa, like, okay, this is, you know, that's right. And you've got to explain that, like, you know what I'm saying, I don't know if you was putting it in a layman's term, you know, where, you know, this is currency, but, you know, you made this clear to me, like, where, you know, like, how to trade it. Yes, sir. Yeah. Yeah. Yeah. So what other light bulb moments did you have? Can you think of any other ones? Okay. Oh, well, look, I guess, figuring out, figuring out your strategy, you know, and how effective it is, you know, you know, those supply and demand strategies and, you know, when, you know, because, right, before I got to trading 180, you know, I'm trading other strategies and other technicals and, you know, things like that and, you know, and I got into it and, and I was looking at, looking at your strategy going back testing and, you know, and I'm, you know, oh, man, you know, and this is the strategy, you know, this is on or something, you know. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. And, you know, I think you sent me a message the other day about stop hunts. You know, and you were just saying that, you know, stop hunters really buying at value, right? It's like the most bargain price, the cheap price, the most discount price you can buy it, right? When you, when you put it into its proper context, that's what stop hunting is. It doesn't happen over time, but when it is, when it does work, like, for example, with today, I mean, yeah, sorry, today, with the New Zealand dollar, right? Because you got in on that pound New Zealand trade and you posted it yesterday and you said your analysis was, you know, you're anticipating the, just in case the RBNZ actually are a bit hawkish, which they turned out to be, right? Right. Right. But where it was on a price chart looked like a brilliant buy in anticipation of that. You could have been wrong. But if you were right, the risk reward was... Man, I'm talking about, hey, man, can't, can't, man. Yeah, let's look at that on the price chart, man. I need figures. I need figures. Yeah, let's look at that on the price chart. So I did a kind of circle this as well. So that was, this was the trade setup, right? And you got in up at the top. Yes, sir. Yeah, I remember you posted that trade and you got in up there and you made a little, I guess, a little error in terms of taking profit. Yeah. Not setting any take profits. Yeah, I had was working in, you know, running out the house and, you know, running out the office and, you know, my girl bugging me. That's why I tell it on bug me when I'm trading. You know, leave me alone and do this, you know. Now, but you know what? You're still up at the end of the day. And it was, it was, it's just proof that, you know, I mean, the fundamentals once you, when you get them in line and then they go in your favor, you know, the risk rewards are, you know, are brilliant, right? Right. But who would think of really buying up here unless you're anticipating a change in the fundamentals like nobody, you know, is going to, you know, it's going to buy, especially in the face of that price action, nobody, but you did. You bought the New Zealand dollar, right? I might say, oh, you faded that, but to have the confidence to do that, yeah, when this is all you're seeing. Most retail traders are never going to stand in the front in front of that, right? Right. Right. And that's kind of like a light bulb moment again, you know, because like you said, you know, when I first came to trading 180, you know, so when I first came, I was just, I was focused on the fundamentals. And so it was kind of hard for me, you know, to do the strategies with, you know, with the technicals, you know, that's why, you know, if you remember when I first came, I was kind of like backtesting them. I wasn't, I wasn't actually trading them. I was just backtesting them, but and it came to me, man, when I see how effective they was, you know, at catching bargain prices, you know, and I try to understand that, you know, the mandate, you know, of what, you know, of how you trade. You know what I'm saying? And man, it's spot on. Yeah. Yeah. And that was a, that was a really good trade. If only you were taking some profits, you know, I mean around here, but you're still in that trade, right? You're still in that trade. Okay, cool. So actually added a position when it came back up. Oh, really? Yeah. Brilliant. Yeah. And I'm kind of at it. Brilliant. Because that's probably not a, you know, I mean, it's, it's a bit of a gap CPR thing. Yeah. So that would be a gap CPR probably somewhere around here. Anyone who was anyone who was a long trying to get long at this area here on a pullback would have been cool. They would have been caught, right? They would have been caught in their trades, capture, the gap down pain, and then the relief right there. So, yep, that's it. Perfect. Perfect gap CPR. Perfect gap CPR. So a recent fundamental, apart from this, a recent fundamental trade idea that you are really proud of, like one of those fundamental trade ideas that you just, you know, you think to yourself, I've got it. You know, I mean, I planned it and it worked out brilliantly. What was, what was the, your most, one of the most proudest trade ideas? So, we go back to that Euro trade. I don't think we was doing a recording. Euro dollar. Yeah, remember we had the conversation. Yeah. Yeah, the conversation here. Yeah, it was last year when Euro fundamentals is changing. Do you remember, do you remember roughly when it exactly when it was because I got in on this slightly late, I say slightly late, I got it on later than you did matter of fact because I know you were one of the first to kind of to jump on this and switch your bias to a Euro. I'm thinking, I'm thinking October. Was it October was somewhere around here. Yeah. Yeah, it was somewhere around there. Yeah. Brilliant. Yeah. So you got in at these lows. Yeah, I think it was a, it could have been a stop on down there. Okay. It could have been a stop on down there. So, you know, right. So what was it fundamentally do you remember that was just you were saying to yourself, you know what, I probably want to be a buyer of the Euro or a seller of the dollar do you remember. Yeah, so. Like, as, as you know, me and Ken like the PMIs, you know, as you know, we can, we can, you know, I guess that's a good gauge of basically it goes into GDP. Absolutely. I've been figuring that out as I was, you know, as I, you know, when, when I did come to trading 180 and learn about GDP. So I just wanted to understand like, you know, what could go into GDP where, you know, I can see the fundamentals or the economy is changing and getting better, you know, and the PMIs do a good job at that, you know, and so I was at the PMIs and, you know, they started, you know, turning, you know, not, not, I wouldn't say positive, but they started getting better, you know, from contracting, you know, and yeah, that's what kind of got me on board with the Euro. I was looking at the fundamentals and, you know, the jobs kind of was, you know, okay, stable, and, you know, they wouldn't deteriorate and, you know, and then, you know, so the fundamentals was changing. And that changes the reddit about the central bank being able to hike the rates or not, and if the economy could support that, you know. Right. So that was like a changing moment and I got in on a, you know, it had to be a stop or a trade. I think I got, you know, maybe about, I'm going to say 500 pips. 500 of that. Well done, man. Well done. I remember as well is that one of the reasons I was I was short on this around this time as well until probably later in the year, maybe around about December, I think, and towards the end of December, maybe coming in January, I thought to myself something's not right. Well, say not right, but I didn't necessarily catch on was one of the things was the weather as well, because remember, I think we were expecting really cold weather. And with the cold weather would have basically not been great for the euro because of, you know, maybe, you know, the, the Ukraine war, Russia was rationing, etc. And things will may have got worse for the euro economy, but because the weather was really good as well. Yeah. Yeah, as that started to change, we had a mild winter, very mild winter. It didn't affect GDP as much. So as you say, you know, the PMIs would were coming in, okay, the warm weather, and then by the time we, you know, we got to maybe, you know, towards the December, you know, into January is when I started saying, ah, you know what? Yeah, you know, I mean, and then, and it's nothing, right? We were talking about this, we were discussing this earlier, right? There's, there's times where in fundamentals where, where we're not going to see eye to eye doesn't happen too often, right, but it can happen. It has, it happens from time to time where it might just be a timing thing, right, it might be a timing thing, you might see something, you might share it with the group. I'm saying, there's certain things that I maybe want to see first before I jump in, but you and Ken or Lawrence or whoever might say, oh, do you know what? I think I want to be a buyer here. And then, you know, I will jump on board. You know what I mean? You know what I'm saying? I'm following you, right? You know what I mean? Eventually it comes out, right? And vice versa, right? So there's times where I might say, I'm, you know, I'm short on the, on the end, for example. So they might think, oh, well, not really too short because, and then eventually, you know, there are times where the timing and the fundamentals just line up and everyone is just a no-brainer to go long or go short. But there are times with the fundamentals. And this is just being honest to anyone who's listening where it's not always going to be clear to everybody, right? It doesn't make, you know what I'm saying? It's not always a buy. It's not always a sell. There's always going to be, even if you go to, you know, you read certain articles, there might be one analyst that might say, well, we want to be a buyer of the dollar. And there might be another analyst that might say, you want to be a seller of the dollar, right? There's times where it might be just like, you think it's a hmm, shall I stay in, shall I stay out, right? I think you showed, it was a video on a group called back probably this year, where you had a little situation where, you know, this analyst was calling for, you know, to buy, and this analyst was calling for the sale. And I'm not quite too sure, but I think it was the dollar though. Yeah, it was the dollar. And that's, and that's okay as well. There's going to be moments like that, right? But there are also going to be moments where everything is as clear as day, where it's just, you know, the dollar is a screaming sell or the, you know, the yen or the pound is a screaming buy, etc. And so, you know, part of the group is that we all are, I'm continuing, even though yes, I'm mentoring you guys, I'm still learning, right? I still learn. And it's, I'm not so ignorant and close minded to not include, for example, now I've got PMIs on the spreadsheet, have you noticed? I've got PMIs, right? You know what I mean? So those types of things, we all, as a group, you know, we lift each other up. And that's what we want to do, right? That's exactly what we do, you know, in the community. Yeah, yeah, it's a great, great trade idea, great trade. And yeah, brilliant, man, that Euro dollar. Yeah, that definitely took a lot of people off guard. And then, you know, we had the pullback we were talking about, I think I got, again, long on that Euro towards the end of December. And then it was just a case of all right, then wait for that pullback, right? The pullback comes. I didn't actually get in on the Euro dollar, I ended up getting on that Euro CAD. Did you get in on that Euro CAD trade? Yeah, yeah, the Euro CAD. The Euro CAD was a really nice one as well. That was the one where, like you said, you know, sometimes, you know, where we be, you know, indecisive, you know, not really sure lining up with each other, but that was one where it was clear, you know, we can't be wrong on this trade. Yeah, we got in, we got in around here, and then literally rolled it up. I took profit around here. I think, you know, I think you can I think maybe Daniel ends up getting in around that demand zone there again. And then it just went higher, right? Yeah. So, so yeah, there were clear obvious trades and that's where you want to make your money, right? That's it. That's what we're trying to do is on a trade idea, you know, just rinse it, squeeze it as much as we can, you know, add that trade. Brilliant, brilliant man. And, and so last question is, how would you describe the difference between learning from videos, let's say, for example, YouTube, TikTok, and actually, you know, being with a mentor. How was, you know, what's the difference between those two when someone is learning? For me, I was, I was telling my artist that this morning, I'm like best of the both worlds, you know, because, you know, I, you know, I don't want to nag no one all the time, you know, because I can have a lot of questions. Yeah, yeah. So I don't want to be keep on raising my hey, hey, hey, you know, that's what I'm here for, right? That's what I'm here for. Yeah, yeah. So I like to look at the videos first and, you know, put them on repeat. How many times can I understand it? But, but I love having having you there as a mentor, you know, where I can, I can say that, you know, I'm saying, you know, hey, man, I just don't get this, you know, I'm saying, you know, and, you know, I'm, you know, trying to make sense to it because I hate where I don't understand something, you know, and, you know, and, and then, you know, I can say that you, that's, you know, that's why I love the mentor that you give, you know, here at Trading 180 because, you know, even if you, you know, probably don't know it, you're going to find out how to know it and let and give us the best advice about it. You know, I'm saying for sure. Absolutely. And you and I like how you do it because you don't back it up with just what you say, you know, it's about what others say that's experienced at this, you know, I'm saying, you know, so I like that about your life, you know. Yeah, thank you. Thank you. I mean, yeah, mentoring and trading, I guess, can be quite lonely and it's different. It's difficult to kind of, you know, we've all been there where we've been at the screen by ourselves and it's like, what do we do today? And a lot of times watching videos on YouTube and TikTok can be very confusing as well because you've got conflicting strategies. You've got conflicting ideas and some people want to trade the lower timeframes and scalp, some people want to trade the higher timeframes. And it's very difficult sometimes for a trader to be by themselves just watching videos, right? Whereas with mentoring and I know for me, having mentoring with Mark Chapman, you know, it keeps you, it kept me anyway focused, right? I could say I could ask him anything he would answer, we would have conversations, do you know what I mean? We'd have group calls and we have group calls and when I'm saying ask me anything, do you know what I mean? And it doesn't make a difference, you know, rather than just, yeah, that's exactly it. Whereas a video, you can only get so much from a video, you know what I mean? Right, right, you can't, like we say, you just can't get, you know, so sometimes, you know, the video works like, ah, we'll understand it. And like you said, now you're going from another video to another video. Yeah. Yeah, just being able to let's just X that out and, hey, man, what's this? You know what I mean? You know, I don't understand it. Yeah. And so having the mentors, you know, I would say it's terrific, man, you know what I'm saying? Brilliant, brilliant. Thank you so much for doing this, for doing this interview and, you know, your review of Trading 180 and I really do appreciate it. Spencer, I really do appreciate it. And I'm glad you've been getting the results you've been getting, you know, you turned your trading around. I was saying, you know, before this, I remember when you first came in and, you know, where you are now is just different person, man, different person, different analysis. You know, you're a valued member of the community. Your analysis is top notch. And, you know, I appreciate you and I appreciate, you know, what you bring to the community. Thank you, man. Thank you, man. Oh, man, you're getting blessed. You know, give you your flowers. I know, man, for real though, man, you've been a great, a great inspiration and a great mentor, man, and a great coach towards my, you know, career, man. And, you know, I want to say, man, that, you know, man, Trading 180 is everything to me, man. You know what I'm saying? And I really like it. I really love the community, man. And, you know, I just, you know, man, God bless you. Thank you. And you too. And you too. Thank you again. And for anyone who does want to join the Trading 180 community, go to the website. If there's an opening you can join. If not, then there will be one probably in the future at some point. And yeah, that got me too. I liked it that too. How you do the open enrollment. Yeah, yeah. Because what they do for me and make me it make you kind of like intrigued to find out what is this about this guy got the open enrollment where, you know, 30 days out. Oh, I want to do it now, you know. Yeah, but I like, but you know what I used to, but I used to keep it open 24 seven. And I found that it doesn't work because a lot of some people come in because they're coming in maybe at different points. I get asked the same questions. And while I don't mind repeating myself, it's a lot of work when you have people coming in every day if I have it in batches. Do you know what I mean? I mean, if I have and then I know, okay, I've got maybe, you know, maybe 10 people, 15, 20 people that's joined. So then I know now I can kind of, you know, I mean, focus on them and bring them through. And when you think about school, right, no one doesn't join school at every single, every single day, you don't get new students joining a club. Right, you have semesters, you have terms. And so it's, and that's because, you know, the teachers, right, you know, it's easy for them to keep everybody on the same page, etc. So, you know, it's a little better with, you know, the work, right? That's exactly it. You know what I mean? So, so it's, so it's, it's, it's that it makes my work easier, you know what I mean? And, you know, and again, it gives you an opportunity, I guess, you know, if you don't want to join today or, you know, next week and join next month or the next time I have the opening. But yeah, for anyone who wants to join, there is an opening, I think at the moment, I think it was the fifth, seventh, it closes. And then from then, maybe in June, July, maybe possibly, I'll have another opening. But, but yeah, Spencer, thank you again. Much appreciated. And I'll see you in the group call tonight. It's going to be in a, what is it, in an hour and a half, just over an hour and a half. Yeah, so are you coming? Yeah, yeah, I'm going to get ready for it now, probably do a little bit of day training and then yeah, I'll be in there. Yeah, all right, cool. I'll see you later. And yeah, to everyone else watching the video, thank you for what for listening and watching this long and staying to the end and take care. I hope you have a blessed training. Come on in guys, come on in. The best man, you know. All right, take care now. Take care, man.