 Good afternoon all so I wanted to go over a trade a really really nice technical trade set up on the dollar yen and again if this is not on your list of you know currencies to take then You know, it's it shouldn't really be a trade. You should be taking fundamentally, right? you have to understand why you want to be a buyer of the dollar and You know potentially a seller of the Japanese yen But from a technical analysis perspective I actually really really like this. So Let me break this down. This is a CPR zone, right? It's a CPR zone. So let me just Just give it the context that it deserves so Before We had I guess the the capture Element and what adds to this is the fact that it was a capture that Lots of traders would have got involved in right? So that's in fact, let me just Bring up some volume on here. Yeah, lots of volume on that trade right there Yeah, so the volume would tell you that there was lots of trading activity and what happened on the Friday We basically got one nine is it nine Seven I think it was one nine five one nine seven K jobs And there would have been a lot of traders getting short on this news right on this bad news You know getting short it was a nice area where prices have come up if you think about the location where it was Traders are probably anticipating during the London session that maybe potentially it wasn't going to go in its direction You had a little bit of a you know resistance their level traders are waiting they're waiting and waiting it pops up the the level obviously the The number comes out it starts to sell off right everyone's involved in that short everybody's no one who's getting long in this in This trade especially after this disappointing Number but then what we see in fact is this so they basically committed capital, right? They've committed a lot of capital This is where the capturers Traders commit capital loss of version bias kicks in yeah as prices start to go higher It doesn't let anyone who went short off the hook at all. Yeah, doesn't let them off the hook Right look at the pain the amount of pain that these guys are in now Whoever went short here if you haven't been stopped out loss of version bias you're moving your stop loss thinking It's not going to go above that level and surely sure enough. It does lots of pain involved in here. So The relief the majority of the relief I think is going to be somewhere in and around this area now Capture pain relief is really the study of obviously trading psychology, but also where the Most amount of supply and demand orders will be from a purely from a Technical analysis perspective. So when you think about what price does come down for example to example here Yeah, there's going to be lots of traders getting involved in this area. You've got a nice area of you know resistance Resistance is going to be an obvious level But most of the traders would probably got caught down here now Of course depending on where you taste a stop loss you might you might get up for a small loss But I think the majority of traders are in and around this level here So again, I can't necessarily predict but you know price is going to do but I would Guess that my best guess if prices do come down here Rather than necessarily getting involved in here, which you can of course you can but just understand that if you get Stopped out in fact that level is probably being stop-hunted right because it's such an obvious level And there's going to be lots of traders, you know placing their stop losses below that level But this is really I think these areas here where the 1180 and the 11 You know 50 lab area will be where prices may start to reverse. This is where I think the majority of Orders because if traders when it's short here, then they have to do what to exit they have to buy to exit This is where a lot of the buy orders are going to be in and around these areas here Yeah, trade is taking profit of course are going to take a profit here But also other levels of support and resistance by all I ultimately think that the 1150 and even if you look at it From a discount perspective, this is the new low. This is the higher low higher high Right from here to here. Do you want to be a buyer at the absolute low? Yeah This is going to be the most bargain area you can think of you know recent bargain Anyway, this is just below the sixty one point eight percent fit probably. Let's have a quick look. Let's have a quick look Sixty one point eight percent fit retracement. Yeah, so that's going to line up really nice in fact Really nice for traders to actually get long in and around here Now, I don't know like I said, it could of course it could come down here and fly off the handle Right could continue to go higher. Who knows I don't know but the the ultimate I think I do think the better trade would be for To go long in and around this area here Of course, you can try a couple of trades if this is in your You know your portfolio to try to look for trades, but it's going to be in and around this area Nobody knows where prices will exactly reverse from if they will even reverse at all, right? You don't know From a daily timeframe perspective, you know, you are buying potentially a you know the the highs but even from a daily perspective, let me just Kind of pull that back That area in fact it lines up that lines up with a nice sixty one point eight percent fit, right? So just where we are let me go down and take us the hourly Yeah, that in fact is that has a lot more confluence and that's not to say that, you know, sixty one point eight percent fibs are You know the the the thing to trade. It's just understanding why there's going to be lots of Demand in and around this area, right? And if you look at the higher timeframe from a daily fit perspective higher low higher high That looks, you know a lot had looked to have a lot more confluence in this area rather than, you know, that top area there You know, I mean so I think overall This is a really really really nice trade really kind of driven by the fact that lots of traders lots and lots and lots Of traders have been caught that volume candle look at it is literally above everything else By a massive long way apart from the last time it was it was again another I think it must have been another FOMC announcement or something like that maybe 20 seconds. Yeah, put it some bank announcement right there 22nd of September Another one right here. So Not only is it great technically from a psychological perspective and just understanding that trade is definitely going to be in this trade That is beautiful. So Again, nobody knows risk of could come into the market. There could be something, you know Terrible that happens to the dollar the market might not believe, you know things can change Nobody knows but the thing is is that if prices do come down here and you do want to be a buyer of the dollar I think that is a really really really top quality Trade setup and again good trades can lose bad trades can win. It's just a random single event and We just have to accept that, you know, if you are looking to take it, but I think it's a brilliant trade technically and I do like capture pain relief trades that have an element of news And traders being caught by the wrong side of the news and I think probably probably 99.9% of traders generally would be caught By this move right because we were looking at potentially getting short on the dollar until you know The news came, you know, we read over the weekend that in fact, you know, the Federal Reserve are looking past that, right? So you can guarantee that other traders are getting involved in that trade for sure So it's got lots of confluence in around that area. Anyways guys take care and speak to