 But this mark is pulled up and a south side is pulled up as well. Take few more people to the market as I welcome traders apologies for the slight delay there would be a technical glitch on my end. If you can hear me and you can see the welcome screen. If you could type a why in the chat box that would be helpful. Okay. So before we get into today's content let's, as always remind ourselves of the inherent risks that are in trading any financial instrument can lose more capital than you necessarily have on deposit. And secondly, and most importantly to today's discussion. The views expressed by me here today are solely mine, and they are not indicative of tick mill UK or tick mill Europe limits. Introduction to myself for those who are here for the first time after I graduated, I joined a city PRC consulting firm. After a couple of years learning the ropes I left with some colleagues and went on to co found and successfully exit a consulting startup post a merger late 2004. And then moved on to explore my passion for markets, some capital to play with and some time on my hands. I started day trading or more appropriately day gambling the S&P 500 of some early beginners luck I racked up some solid gains. However, as is often the case, begin my beginners luck run out. And as the market phase changed, I began to average down into losing positions, giving back all my gains and ultimately experiencing a significant six figure hit my personal capital. So this was a gut wrenching and sobering experience is an understatement. I'd stand back and really figure out if it was feasible for me to make a living from the markets. So I decided to get serious about trading and sort out a mentor with an excellent trading track record working with my mentor for 18 months, it was a period during which I up, not just my technical game researching and developing a strategy that suited my personality. I was going to be back and forward tested and developed a rigorous risk management approach to underpin this strategy, but more importantly, during this period of mentorship I significantly develop my mental game, and probably the most important water share shift so to speak, was moving highly goal oriented and focused on financial gains to becoming really purely process oriented. So what does that actually mean? Well, it means I had to stop focusing on what I could make in the markets and start focusing solely on managing my mindset to allow me to consistently make a living strategy, oftentimes in the face of negative feedback from the markets in the form of losing trades. But once you become process oriented and have a professional trading mindset and understand the true nature of trading being a numbers game in which you're simply playing with your abilities, you lose the emotional investments and attachments and that hellish emotional roller coaster of living and dying by the outcome of individual trades. I'm no longer concerned about the outcome of individual trades or even a bunch of trades. My focus is on the next hundred trades because I know if I focus on excellence in execution, my head shall demonstrate itself over an extended series of outcomes. My approach has delivered profitable annual returns since 2008. Since 2013, I've also been managing investor capital through a management account service, information of which you can see on the screen at the moment, with respect to performance. I'm currently responsible for managing a multi-million dollar portfolio. Since 2010, I've also personally mentored over a hundred private traders of all experienced levels from complete novices to former CME floor traders in developing technical and mental skills to reap consistent profits from the markets, helping people really to develop not just the technical game, obviously, but really focusing again on mindset. I've consulted to numerous brokers and training education brands, contributing written content, webinars and live presentation content, a range of topics from market analysis to trade and strategy development and execution. In addition to my fund management responsibilities and private mentoring, I'm also a resident market expert at Ticknell, providing market and trade analysis on a daily basis. You can register through there, the Ticknell blog site to receive updates on my daily outlook for the markets and specific setups that I'm watching in the markets. My other passion project is as head of trading and trader education for a leading trader education brand called FXcareerswap.com, offering development and funding to retail trading talents. At FXcareerswap, we don't just develop retail traders market and trading strategy knowledge, we work on mindset development through a structure program that culminates in managing the firm's capital at zero personal financial risk on a profit share basis. And for those that are interested, there's some contact information there on the screen, you can either give the guys in London a call or drop them an email if you're interested in finding out more about that opportunity. So that gives you a flavor of where I'm coming from. So let's jump into some, some ideas that I'm focused on at the moment with respect to the markets. Firstly, I put a post up this morning on LinkedIn, with respect to the dollar Chinese Yuan increasingly becoming an important gauge and instrument with respect to risk metrics. And I posted this in the not just in LinkedIn, but also my trading team chat through FXcareerswap about this big, big trade, big options trade that was put on overnight. And essentially what it implies is that we should see upside in the dollar Yuan over the next 12 months, large customer order, which has meant that the market makers and dealers are now trying to cover exposure or potential exposure in the mid sevens. In a minute we'll look at the Chinese Yuan and we'll see where we're trading actually we'll jump into that one quickly now so we've got the Chinese Yuan at the moment in this downtrend channel that we've been watching with a potential fifth wave completing here. We've got some nice momentum divergence and looking to put in a bullish reversal pattern here. So we currently trades 662. And that options action that I've just referenced would actually have us up trading above seven so you can see a meaningful corrective move in terms of the dollar Yuan if we look at the last correction that we saw here. Let's overlay that versus the current low. So I mean even even just replicating this corrective phase that we saw back in the beginning of the year, that would only put us up at 689. And according to this options move we're looking at 750. We've got 10 bucks in the chart here. And you can see that 750 would actually have us making new highs. So new strength there above the prior high so we, this is a chunky move in terms of the dollar dollar Yuan so that's something to keep him keep in mind now obviously you know that that's that options action is, you know, can be over the next 12 months so I mean it's not necessarily going to define the immediate price action but certainly it's something to keep in mind as price action develops. Okay, and I referenced that because we've also got all we had a few weeks ago now, a big a six month put in the euro. So that's someone who's going to get paid on the euro over the next six months. So we're going to trade below 11550. And if you look at the price action of the dollar Yuan and the euro they trade inversely so what what what what the what the market or some or some significant players in the market are betting on is that we are likely to move into at least a potential six month periods of strength in the dollar in the strength in the dollar reflected through the Yuan and weakness in the Yuan and weakness in the euro. Now bear in mind rapidly they're becoming the biggest counterparts to the to the US. That's certainly something that we want to be cognizant of as as traders. In terms of positioning in general the credit agricultural positioning information that I share still suggest we're stretched on the upside in terms of the euro dollar picking up a bit of interest now in the dollar or starting to see a bit of interest in the dollar and we'd anticipate that to be reflected in price action and see we're still pretty stretched in terms of the Kiwi dollar similar story with the swissie but really the stand out is obviously the euro at two standard deviations above the mean and so we can expect the potential like I've talked about for a euro pullback and then that coincides with this fractal that I shared with respect to the DXY and a period where we see a contested which will not necessarily not necessarily a contested but not a smooth handover or transition in terms of power with the US and and obviously we have Trump at this stage is not prepared to recognize Joe Biden's victory. Obviously he's made the made the numbers in terms of the Electoral College and he's now proceeding in some form of transition and this is at this point referred to as president elect. So this coincides with the idea that the dollar pull potential weakness in the dollar into or around that contested election before, before we see a pickup to the upside. And so if we move to the charts now and let's start with the dollar index this is the broad dollar index versus six other currency pairs. So you see we've managed we've held again this this range support down at the 92 60, and we're attempting to put in some type of bullish reversal here today, we have range resistance up here at 94 75. You'll remember from previous weeks I'm looking for I was looking for a fifth wave to complete here but I did reference this area as potentially being sticky and it looks like it is going to be a game. So if we hold below this monthly pivot at 93 50, then there is still potential for this fifth wave to complete, but note again we are trading outside at the moment anyway, outside of this, this trend line resistance which is defined the trend channel, all the way down. And we are seeing some pretty decent momentum divergence here so is the dollar. Could we see a retest of range resistance in the dollar if we move into the equal weighted dollar index, you can see a little more clearly here. We have a bullish reversal on Monday consolidated yesterday, and now looking to try and put in a bullish outside candle versus yesterday's price action to get constructive on this we really take out this 90 190 90 area, and then again we look for range resistance to get invested back up to 120 95. We've also got the monthly pivot one 2055. So we could continue to trade in a range environment, especially until we get some type of definitive resolution with respect to the US presidency and participate that at the latest, I think it's the sixth of December, six or the 11th that US electoral college have to confirm or certify their votes, and so that would give us a conclusion then what it's also important to remember is that on the 10th of December, we have the ECB meeting. Now the ECB are anticipated at that meeting to, to extend monetary policy and their, their dovishness, and if that that comes into play then we could anticipate some some dollar strength through that period so it's whilst the dollar is still under pressure, the fact that we're holding this range supports, could it does lead me to think that we could see a squeeze before we actually do get that move lower in the dollar index, in terms of swissing, I'm running a long transition in the swissing at the moment, versus the break of this candle, got this potential double bottom here, so again, always when we're looking at these double bottoms or triple bottoms what we want to make sure we've got in play is decent divergence and as you can see here. We certainly have that in spades there, and so along the swissing at the moment, what I'm looking for here is basically a test of this descending trend line resistance at the 9332 we'll have to see how that how that plays out. In terms of the dollar yen I'm also long dollar yen. We've got this big bullish reversal pattern. Again, we've got, not as the divergence in terms of the dollar yen isn't as strong here but certainly in terms of this corrective phase we made a new low, we didn't make a new low in terms of the psych indicator outside reversal candle consolidated a bullish inside day yesterday. I'm looking for this to break out certainly see the test of the internal sending trend line resistance up to one six one oh six 50 at the moment. If we get through there then we have the external trend line resistance coming in at one oh seven 60. So we'll see how that one plays out. And one of the factors I will alert you to if you're if you're looking at the dollar yen is this is the US Treasury yield. This is say, this is inverse to bonds, and so the bonds trade in price and then the yield so if the price of a bond is going up, the yield is going down if the price of the bonds, sorry, the price of bond is going down and the yield is going up. And that's what we're currently seeing at the moment. And, and we're sitting at a pretty significant inflection point with respect to with respect to these the yield here. What we're looking to try and do is take out the 90 point 98 and head towards 1% we get through 1% then we have an equality objective up as tires 1.4% now what's going to drive that is obviously this idea that we potentially got a vaccine in play. And if we have, then that that then leads into the idea that the economy is going to be reopened both in the, in the US and around the world. And if that's the case what we're likely to see is a less dovish Federal Reserve so what the market saying here is that if we are going to see an improvement in terms of vaccine hopes, then this easy monetary policy scenario that we've been in for for most of this year could be coming to an abrupt end, and that would be what would drive this this yield higher. Now the reason I reference that is because the dollar yen obviously trades with that in terms of if we if we are seeing a pick up in yields in the US, then the counterpart in terms of the Japanese yen, the Japanese central bank are have the lowest lowest rate position in the world so what you're looking at is playing off the strength of the dollar or the potential strength of the dollar versus weakness in the end driven by an improvement in risk sentiments, and also this idea of the yield differential. So, it's, it's certainly what you want to keep an eye on the US 10 year if we can break one percent, then I think that's what could drive drive some higher prices here in the dollar yen in the loony. Again looking for a potential double bottom here in the loony more triple bottom even if you look back to this price action over here let's draw this in. And this support area here that we've tested a pretty nice reversal candle. Today would would flip this chart bullish as per my strategy with respect to the five period VWAP. And again you can see that as we traded new lows in price here, we've made higher lows in terms of the momentum study giving us that divergence support. So when you're looking to play counter trend, if you're going to take counter trend positions, what you really want to see is, is divergence in momentum studies to, to support that. So again, if we can get a green close here, the scope I think for the loony certainly trade up to that 132 80 area, see where we are with the euro. The dollar catching a bit of a bid at the moment the euro looking weaker, we've held if we if we hold this one 1920 gain, then the path to me would appear that we are we trade back down into the support at 116. And from there, we may then get may then get another round of buying taking us up into into highs here and I anticipate those highs would come in advance of the ECB meeting, which as I said is on the 10th December so we'll have to see again it's really a heavy range rotation at the moment, tricky trading as such but there are certainly keep an eye on the on the edges here so it's 119 on the top side and 116 on the downside of the areas to really pay attention to the price action, as those are going off the best risk reward scenarios in terms of getting into positions. You're okay, I've been taking a look at this. I what I was looking for with this your account is a quality objective versus this swing here and matching that to the downside at 152. But what we've keep what we keep running into is this internal equality objective here at 153 24, I just can't seem to crack that so I've, I've cut my position in the euro CAD but we'll see how that how that plays out if there's another opportunity to do something with that but for now the support is really coming in around this 153 20 area. The euro sterling is sitting right at its trend channel support now, and we've got this structure support area here, 8869. There's the potential I think from here that we could trade back up into a big head and shoulder scenario obviously euro sterling and the sterling has been heavily, heavily dictated by price action with respect to source or comments on the wires with respect to the UK trade deal, which they miss yet another deadline but they're anticipating hopefully that they'll get something next week. And that could, I could see potentially a resolution to that matter and then we could get some much cleaner price action in terms of a lot of these sterling pairs but that said sterling is sitting at the resistance area that I'd highlighted. So we have this ABCD correction into the 78.6% of trades and we can just shy of completing that. But we're holding and we've also got this trend line resistance. I've got a I've started a short position here. I think if we, if we hold this area as resistance, then certainly in advance of a trade deal coming out we could see another rotation here. I'm not expecting anything meaningful on the downside but from a tactical perspective it offers a decent trading opportunity. Certainly we could get back down into these prior highs at the 130 area. Before, if we do get the deal next week then you know things could, we could see another leg higher but as I've said previously I think increasingly what you're finding in the market now is that the market is of the view that there is less upside to be had on a deal and then there is downside to be had on a no deal. And so this is why you're seeing participants reluctant to really chase, chase the pan much higher than this, this 133 area. Sterling N is in a similar position it's come into its corrected phase so let me just draw this in so you can follow along. Here is A, B and C, D so we extended just above the equality objective but ran straight into the tick at the 78.6% retracement so again, from here we could see another pullback in terms of Sterling N, leased into that 137-80 area before we see if they're prepared to take that higher. Sterling CAD, I was watching this trend line game we can't, we don't seem to be able to break it at the moment. If we hold there then we could be playing this trend channel here so we could get another run to the downside and test trend line support but at the moment no man's lander have to see a bearish close there. Sterling Aussie is one that I'm watching, I'm in this trade at the moment. I'm looking for this inverse head and shoulder scenario to potentially play out here and take the Sterling Aussie higher. If it does play out and it's still an if at the moment then in terms of targets they would be an equality objective versus this one here replicates over here up into the 189-76. And then if we also look at what that does in terms of retracement so that would take us just shy of 50% retracement so this would be the target zone if we can break out. Now technically the inverse head and shoulder scenario would have a target versus the neckline. So the actual target technically the target would be up as high as 194 but again with prices was being beholden at this stage really to to news on the trade negotiations, it's tricky tricky trade at the moment so if you're going to get involved you want to keep your risk relatively tight. But if we can take out the monthly pivot here 182-62 and certainly we could get up into this 185 area and if we've got through there then we know where the upside objectives are. Conversely we've got the Aussie consolidating just below it's 78.6% retracement of this last leg to the downside. If we can get through there I'd be looking for this Aussie to test up into the 75-20 or even as high as the 76-89 before looking at some short positions in the Aussie. The Aussie CAD is one that I'm watching. Again we're trading at this trend line resistance. It's a bit more bearish earlier on today but it's looking a bit more bullish. I would need to close below this 94-60 area to look at doing something potentially on the short side. We've held this equality objective, we're trading just above it at the moment. See where we close tonight. The Aussie Kiwi is a trade I did have on which was looking good but I got touched out just at break-even last night before it rolled over when somebody lose some. But I'm looking now for it to test this potential net line support. So 105-60 I'm going to really pay attention to how price responds here because if we get a bullish reversal and we stall out at this 105-60. So let's go for us to actually correct higher here and get a move back up into the underside of that trend line and then we'd have a potential head and shoulders scenario developing in the Aussie Kiwi. So that's one that I'm keeping an eye on. So watching this 105-60 area. If we get down here and we do find buyers emerging then certainly I would look at playing that on the long side from there. So I'm expecting the potential right shoulder here up into the 108-50s. Kiwi, another one I'm watching very closely now. We've got this trend line resistance, sending trend line that's capped on the way up. We've got the 161 extension of this last corrected phase. So watching for a move into 69-50s and really paying attention to how price responds there. I'm looking at the four hour chance as well for entry if we stall out in this area. I think we've got scope then to certainly be down retesting the trend channel support in the 66 area. So some decent risk reward opportunity in the Kiwi. We can get up into this zone and we should have some divergence in play as well there. Keep an eye on that area. It's setting up nicely at the moment. We'll just have to see if it can complete the pattern. Kiwi CAD potential for a double top here in the Kiwi CAD. Again, watching the divergence that we've got in play here versus that prior high. Nothing to do immediately. I'll show you another chart of that in a minute. Gold. Looking for gold to break lower here versus this big outside reversal candle. Consolidating bearish consolidation yesterday and today. So looking for a move through the base here at the 1845. Imagine you'll get a bit sticky towards 1800 but ultimately I'm looking for a test of 1750 in terms of gold there and we'll see if that develops. Bitcoin talked about this for a few weeks now. Trade is still running. I think we can get up into this 17000 area and then maybe we see a more pronounced correction to take us back to 14000. Again, the momentum appears to be on the upside at the moment. So I'm looking forward to play corrections to add to long positions. This was our original setup back down here when we got the break on the day that I referenced the Bitcoin. We had Square the payment solutions company come out saying they're opening up to Bitcoin. They put in 50 million and now we have PayPal similar type of situation. So this is keeping keeping Bitcoin well supported. So last chart for the day is the S&P keeping a very close eye on this. This is the target zone that I've been waiting for this 3728. We could consolidate a little bit more here. Watch the divergence. We potentially got triple divergence developing. And so any push into this area, watch for bearish reversal patterns as an opportunity on the short side. And I think we could see certainly a correction into projected sending trend line support back down into the 3400 and even to the projected ascending trend line versus the prior two lows here. Which can have us back down at 3250. We'll have to see how that plays out. But watch certainly a retest of the highs this pin bar that we had form we broke to new highs close back towards lows on the day. So any any more failure above 3675 up as high as 3730. I think it's going to be an opportunity on the on the short side with respect to the S&P. So those are the charts that I'm watching the trades that I'm running and an opportunities that I'm looking to take advantage of in in the coming sessions. Are there any questions if you have a chart you want to take a look at having covered type it into the chat box. If there aren't any questions or if you don't have a question and ending the chat box is equally as helpful so that I know we're all on the all on the same page. And and you've understood everything I've been talking about. Okay, good stuff. Well, if there aren't any questions, I will wrap this session up here and next week we'll reconvene at the usual time on Thursday at 1pm. Thanks very much and I hope you hope you found this useful.