 Hello, my name is Leon Rowe, currency trader and trading coach at trading 180.com and welcome to this week's plan demand for its and gold fundamental and technical analysis and starting off with the Fundamental week ahead in the data and you can find us on trading economics website Trading economics.com if you go to trading economics.com go to the week ahead Square tab and it'll take you to this and And so just a zoom in in a bit. So in the week ahead We've got a busy week in the US with the focus on the February jobs report Jolt job openings foreign trade figures and Speeches by several Fed officials elsewhere key data releases will cover China's inflation and trade data and GDP updates from the UK the eurozone and Japan as well. So central banks in Canada, Australia, Japan Will be deciding on monetary policy and you can have a read of the details and what really the market is expecting if you scroll further down, which I advise you to do and Getting on to some of the technicals and a little bit more fundamentals as to what happened last week and potentially going into the future We start off on the dollar index and with the dollar index Starting off fundamentally. Oh, actually as it goes, I should really talk about China, but I will talk about the Fed first before I talk about China. So, you know, Fed's daily see says more rate hikes likely in Needed to cool inflation. Yeah, so if you understand about why and fundamentals as to why a central bank has to employ measures and monetary policy to Attempt to appreciate a currency to counter inflation, which is actually inflation is the devaluation of a currency Then you'll understand why, you know, with inflation going higher You know why the Fed not say inflation isn't necessarily going higher but inflation is a bit sticky at the moment and So the Fed have a 2% target and so the Fed really want to try and push Inflation get inflation down to their 2% target But also at the risk of potentially triggering a contraction in the economy because if you hike too much Borrowing and lending becomes more expensive and it can lead to a contraction in the economy. So All central banks at the moment are really prioritizing fighting inflation and getting inflation down And so feds daily basically says more hikes are likely And so you have to kind of go with the big money regardless of what you think your personal opinion is When the smart money talk, it's it's best that you're probably likely to go with them. Of course, they're not always right But at the end of the day Personally, if that's what they're saying they're going to do and and the data supports that narrative then Pretty much that's what we have to do is, um, you know fundamentalists, right? And so federal reserve bank of san francisco president mary daily said policymakers will likely need to raise rates interest rates higher and Maintain them at an elevated level what elevated levels for a longer period of time It is clear there is more work to do daily said in a speech Saturday at Princeton University in New Jersey in order to put this episode of high inflation behind us Further policy tightening maintained for a longer time will be necessary And so that's really what the market is pricing in so the dollar should want to appreciate At least in the short term now going back to china And uh, china's economy shows strong recovery as covet zero error ends and why is this relevant really to the u.s Dollars because it actually china reopening acts as a counter to dollar appreciation and um, it's really because Um, the dollar has acted over the past, you know, a couple years as a risk of currency And uh with china reopening That you know spurs global growth, which is basically more risk on because china is the world's economic engine And if they're reopening after this zero covet, you know years of zero covet Lockdown and now they're the last ones really made your economy to come out of this This zero covet lockdown Then they're going to be investing in infrastructure projects um, and uh, and so money is going to flow into or out of the dollar typically and into other Areas, right? So um other other beneficiaries of Um of china growing, which means you've got, you know, commodity currencies and commodities and emerging market currencies um will benefit from china reopening and being more of The environment being more risk on and so money flow out of the dollar into other Asset classes, right? And so that is a counter to The dollar going higher so as much as I am You know, I've got a bias in the short term on on dollar longs for now And of course the data has to still support that narrative Once the data changes or if the data changes on the dollar Then and it doesn't support more rate hikes for longer then I will change my bias and go You know to the to the short side because overall I am actually Bearish, but in I think in the short term I think there is some dollar appreciation to come towards the end of the year the dollar should devalue And that's being supported by a lot of a lot of banks, right? And a lot of bank analysis that we do look at outside of what I show you in the video. So um going to the technicals I would expect any pullbacks to some supply zones to be um For me anyways is my is my bias. I do think now that the dollar like I said is a My bias is to buy dollars if you get a pullback and the data supports that narrative, right? The data supports higher for longer if the data doesn't support that then pretty much my bias would be a Would be to the short side. So if you are looking short going short and then trying to anticipate Maybe uh inflation coming down Then this is really the area that you're looking towards in terms of Trying to get short and these are the areas On the dollar index and again, you're not necessarily getting short on the dollar index You're just using this more as a Confluence on other dollar crosses. So if you're in a supply zone, you want to get short if you're in a supply zone If you want to get short on the dollar cross then that's really what you're looking Towards because we're in a nice area in the dollar index if you want to go long on the dollar index Or long on the dollar then you're looking at prices putting back into a demand zone And then looking at you know something like the dollar again of the dollar swiss For example to pull back into a demand zone before getting more actually a supply zone before actually getting short on that dollar But my bias is still for the dollar to at least if it pulls back in the short term to try and look for some long trades So moving on to the dollar Yen and the dollar yen the yen is something I'm interested in. I'm watching carefully with regards to They're them changing their monetary policy. They've just announced Well the likelihood of a new governor I think he pronounces his name as Udia and at the moment he seems to want to continue more of the dovish monetary policy That his predecessor Karuda has Or is employing right now, but the market pretty much thinks That that should come to an end at some point And so there is the opportunity to I think short the the euro Sorry the euro the the the dollar yen at some point now again My bias at the moment in the short term would be for the Dollar to go higher and so for me. I am looking at more demand zones On a pullback like this Even better would be somewhere around the 130s, but again that just really depends on If price pulls back But the the the bank of japan are not looking to You know change monetary policy then that will be a decent buy But I do think that the yen at some point within the next few months Is likely to be a buy, but you know, I'm gonna This is on the watch list. It's not necessary. I'm not necessarily Long or short on this pair Dollar swiss is something that I again I am actually long on or I have a long bias for now So zooming in a bit any pullbacks To a decent demand zone area I think it's going to be a decent buy and again as long as the data supports the the narrative of going Long on that dollar If you're looking to buy the swiss frank Then I think now is a decent time technically And here are some levels slightly above you To look for uh some um some buy trades on the uh on the swiss frank But I do think any pullbacks for now into at least the 0.924s Are decent areas to look for potentially a A long trade or again, that's not necessarily financial advice, but that's really where my bias would be from buying the The dollar swiss dollar cad again is something that I'm interested in the dollar being a buy the us dollar being a buy And really looking at these areas of demand For any opportunities. I think a deeper pullback into I think this zone the 1 3 4 1.347 4s would be even better and even better discount to look for any kind of long trades On this currency pair, so yep, I think that's a decent zone if you're looking to go short Then you do have Quite a wide area of supply Um in fact, it probably comes all the way up to Yeah, it would probably come all the way up to here It doesn't look pretty on the chart So when you get a situation like this what you want to do where you've got a really wide zone of supply is break that into or break that down into um where you would Trade support and resistance because you can trade the two right and you should really look to employ both It's definitely supply in and around these areas, but where exactly would the supply, you know Where exactly would price is likely to reverse One of the things you can do is look towards Levels of support and resistance in this case resistance within a wide area of supply Um But again my bias is more to the long side. So for me, I'm not really looking up up top I'm looking at really pull backs into some of these areas New Zealand dollar US dollar Um the new Zealand dollar interesting actually came down into I think this area here of demand Uh demand's quite a wide zone To be fair, actually that was right here. That's it Pulled back into this lower zone, which actually had a an area of Resistance in that just at the top of that zone right there In fact, you have to put a drawer. It's somewhere. There's a bit of a minor level right there the most recent zone was right there Because you have for example a little bit of support a little bit resistance Resistance support you can see it bounced on the top of that area right there on the top of the uh demand zone so If you do want to be a buyer of the new Zealand dollar You know now is pretty much your time Looking for pull backs into that zone if you are looking for short trades, then There's a supply zone right there And you've also got another supply zone around there now This is not a pair that i'm particularly interested in at all. So um unless for example the uh I think the us stop hiking rates and And china reopen because I think the new zealand dollar will benefit from From china reopening due to the the geographic location. They're quite close geographically to china and uh, I think they're one of china's their biggest trade trader partner. So Yeah, that's really where you're looking at either buyers or sales looking at the pound dollar and the pound dollar We do have The pound has been a really kind of tricky one in terms of in terms of sentiment and I guess going to Really kind of understanding Why I would still probably have a more of a bias to to short this To short the pound would be traders see lower peak bank of England rate as bailey says nothing This side is a governor cautioned against assuming bank of England. We need to do more money markets Trimbed bets on terminal rate in current cycle. And so the uk government bonds rally Those investors are honed in on comments from the bank of England governor and you bailey that Cast out over the pace of further interest rate hikes So short end bonds led The advance with yield and two year notes falling as much as 11 basis points to 3.75 percent 3.57 percent. Sorry Money markets trimmed bets on the bank of England's terminal rate by some 10 basis points to imply Around 77 basis points of additional hikes by the end of the year. And so What that means basically to the layman is that the money markets are the bonds bond bond traders, I guess are trimming their bets meaning that They're not expecting the bank of England to hike as much as previously expected due to the governor bailey his comments, right and so um What you know, you may see is the even though the the power may rally a little bit I still think the pound is actually A short so my bias would be to look for supply zones if we do get a rally up into any of these supply zones Because on one hand you've got one central bank looking to continue We go back to for example the fed talking about, you know Fed says more more rates are likely Right, whereas if you go to for example the pound and you have, you know traders basically saying that in fact they think that the The bank of England may not hike as much as previously expected For me, you have prices can pull back to these types of areas I do think that's a decent area to look for Short trades and even better would be something up here. But again, this would have to be data data dependent You know wouldn't just be you know just Trading that out of the blue Just because there's a supply zone there moving on to the Euro dollar and the euro dollar Again, I did say my bias was to the long side actually didn't get into this trade Because i'm already in two Euro trades and one of the things I I say to traders is not to get into too many I don't be too top heavy on a on a pair. So The the trades that i'm actually in Are the uh The euro swiss which i'm going to talk about by the way in my trade of the week. So euro swiss right And the euro cat Right at my two uh Pairs that i'm still currently in and so because I was still in these trades I don't want to add another euro trade right Just in case something happens with Uh, you know the euro right and you end up losing all three you could yes win all free But you know, it's really understanding risk Right risk is you know paramount and so forget, you know the rewards If you understand about managing your risk, you know for me I mean I will enter into three I'd have to be really bullish on on the euro and very bearish on the pairs I'm trading the euro against but i'm not even though. I think the euro should go higher against the dollar Eventually right now. Um, I think the euro is at and so the dollar is um, you know fairly strong in terms of you know, it appreciating So I didn't think that it was going to go as high and there's no point in you know jumping into that trade and so, um Yeah, but I do think overall, you know, we've been in the next coming months. You should see You know the euro at least go to 110s 115s is one of the forecasts by the end of the year and Really the the euro fundamentally does have The same issues as um the us which is basically so a high inflation So, you know, ecb half point march rate hike very likely the guard says and she also says as a quote I cannot tell you how high rates will go which sounds quite actually quite hawkish um christing the guard comments in interview with l Corero, Corero, so, um Yeah, so euro area inflation hits record. So they're gonna have to um, you know, um central banks have to Raise the borrowing rate cost by another half point at its march decision According to president christine the guard and it's very likely that we will raise about 50 basis points When asked, uh, what would happen later this month? Uh, this is a decision that uh was indicated at our last monetary policy meeting And all the numbers we have seen in recent days are confirming that this interest rate hike is very very likely and so Pretty much really it's been priced in right? This has really been priced in already. So if you're looking to kind of get into the euro Um, don't expect any massive major surprises, you know on the day Um, it the market is more forward-looking and it would be more about what the next hike is going to be Right and whether they're going to hike by 25 or 50 basis points in the future and what they say at their um at their conference and so Looking towards The the technicals. Um, I would really expect. I mean, I could expect prices to go, you know, eaves slightly lower I think the lower end of this area of this of what a price could potentially go Is somewhere around the one? Oh Be maybe the one oh threes to one or two is I think that's probably maybe the limit of the move And again, that really kind of depends on the data But I think anywhere around here Um, if you do want to be a buyer of the euro dollar is you know a buyer But is the dollar is the euro? You know is that would you really want to jump in on that euro dollar? Is it really going to go high or higher or trend if you've got two? Competing central banks looking to appreciate their currencies for me. Um, you know What you're really looking for is more convergences or divergence trades where you have Central banks one central bank is maybe hiking rates. Another one is cutting rates or one that is, you know holding rates Etc. So you buy the one that's hiking rates over the one that is holding or cutting Yeah, or you would basically buy the one that is Holding over one that is cutting for example. So, um That's the way, you know, it typically works and so um for me Although I do have a bias on this. Um, I think there are better opportunities fundamental And currency trading pairs than the uh, then buying the euro against the dollar But if you do want to be a buyer of the euro dollar, then now is pretty much your time if you want to be a seller on the euro dollar Then pretty much any pullbacks into this higher area of supply Is where you're looking at getting involved Moving on to the oz dollar an oz dollar I think the australian dollar for me is a buy again, not really against the um the u.s. Dollar, right? Because again, the u.s. Dollar is is quite strong now From a buying perspective you're looking at this demand zone The australian dollar didn't really have great numbers This week, but what was helping it is really china reopening and I think the market has looked past the current data And really looking forward to you know china's reopening which helps the australian dollar to appreciate the australian rba the central bank are committed to hiking In the next or this week and so really ultimately They are still a bank that is hiking rates and may hike at the next meeting as well. So again pretty much I wouldn't say even Stephen at the moment, but actually matter of fact, it's probably more even I do think that maybe the dollar's got a bit more stronger sentiment Just slightly at the moment But ultimately if you do want to be a buyer of the australian dollar I think now or even a dip down into the 66 50s or 66 round numbers I think it's going to be an absolute bargain And this would be a definitely a really nice swing trade to the upside once that dollar in the fed starts to hike rates And if china do reopen um and grow right this this this is going to be the trade that I would look to get into as well as some others Looking at gold before we get into my trade of the week and gold on the daily zooming out I think with The dollar actually getting Stronger temporarily We did have actually this whole area here was demand Yeah, with the dollar getting stronger temporarily, I would expect There to be at least, you know Another potential pullback if the dollar does, you know come in and the day it's forced out over in the fed continue to hike rates I would expect something like this But ultimately I think as we go into The rest of the year the next six months to nine months I think the other that gold is going to be a buy right gold is a buy If you can get gold at these levels, then maybe that 1780s 1740s I think that's going to be really nice For a potential buy And have a buy bias on this but if you do want to get short on gold and Look for the potential To take advantage of a stronger dollar as well Then you're really just looking at This area here. So basically prices will always pull back And I do think that prices may start to auction or range what big traders would call a range fair value auction at some point But I do think a deeper pullback is going to be a really nice opportunity to buy to buy some gold Or at least to look to trade some gold if you do trade gold You also do have an area that this has been Traded from a support and resistance area so that adds a lot of confluence to that zone You can see where business was being done in the past. So Pullback from that area is is decent, but um Yeah, I think any kind of buys on gold, especially around here now It's going to be where you probably want to look for buying Gold not financial advice, of course, you know do your research if you are but a gold bug then, you know Gold trader then I think any likes at any pullbacks into this zone here It's going to be the first area, but any move even below that I think is going to be Decent, I think the next area probably down would be somewhere around Here as well Of interest anyways, uh, so uh getting into the trade of the week euro swiss Frank and for me This trade has been quite profitable. I'm still in one position which nearly hit, you know, my final Target not quite so when it comes to targets What I typically do and I use the word typically right don't do it every single time, but normally I have a few targets one of them being 50 percent fair value of you know a high and a low Right high and a low expensive Bargain price if I'm buying at bargains, then I'll have a 50 percent fair value And I also have a take profit of a percent Which I might take half of that now if you're new to the channel or new to trading 180 It's one of the things I do Um, if you haven't seen this before is that I break trades up into three or four. So Um, this was really the trade Ultimately, I got in at the 90 0.9869 area, right and I had a 15 pip stop and I was probably around about a pip or two, you know Before being stopped out on my broker prices came down I thought I'm about to get stopped out didn't happen, right, which is which is brilliant now Again, I explained this in the last week's video. I'd explain it in this week's video as well So no in fact, sorry apologies. It wasn't my entry wasn't there. My entry was at the 98 72 Sorry, I had so I had three entries, right? So break your What I do anyways, I break my trade up into three. So one is there Yeah Two was the second one was at the 98 69s or 98 70s with a stop loss at the same area And then I have a third order Right right at that absolute lows, which was at the 0.9861 area, right And I'm not going to show you the exact entry on the lower time frame Right, but just know that it was a lower time frame entry and these are the entries as prices come down now Not guaranteed to get into all three. Sometimes you get a pullback or a lot of times you do get a pullback into the 50 percent You know area of where my entry and and the low of the swing would be And and so I typically, you know, do some pending orders some buy limit orders If prices do come down so I can get a better price and also as well I get heavier as prices or increase my risk size as prices come down So the top the market order, which was the 0.9878 Market order is 0.1 percent Yeah The middle pending order is 0.2 percent Yeah, and then the last pending order is 0.3 percent Yeah, so now If I get in triggered in this example, um, I got triggered into all three in this trade I got triggered into all three. So I will take the two to one On the 0.3 percent Yeah, so that's now 0.6 percent banked Now I only have 0.3 percent in the market and then I can swing trade the rest, right? So I'm swing trade in the first position that I entered up to 80 percent the second position the pullback up to Fair value, which ended up being a nice 4.35 to one trade and And so overall, yeah, um, that ended up being The 0.2 position ended up banking, you know, zero point, you know I think it was like 0.8 or 0.9 percent something like that because that was about four times Yeah, and now I've got that 0.1 percent position swing trading. It didn't quite hit the highs. It's pulled back a little bit Um, but you know, that will be swing traded and if I feel that prices will go higher Then I'll just, you know, keep it beyond the 80 percent Which I do actually think it probably will go higher So I might just take off half position there and then let it swing So ultimately this trade has netted me over, you know, one percent And you know, it could obviously Ultimately net me a bit more and so that's really how, you know, I trade any entries However, I enter break them down into either three, you know Trades or four trades. Yeah, depending on how bullish or bearish you are On a trade and That's really how it's how I manage my trades and that was really my trade Of the week and it wasn't necessarily I didn't take it this week. Obviously took it a few weeks ago, but You know, it was going sideways for a while and then prices decided to You know, go where it wanted to and really kind of fundamentally the reason why You know, I was loaned this was because, you know Obviously a buyer of the euro and I think the Swiss franc in a risk on environment Doesn't necessarily, you know, do well and so, um, you know, if you're looking at divergences euro swiss has a I think a bigger divergence than something like for example the euro dollar And so, you know, choosing the best pairs fundamentally Um is what, you know, you want to do and then hopefully that plays out in the market Because no one knows exactly if it will or if it won't but if it does Then you can have the confidence to hold your trade because you understand, you know You're not just snatching at profits because you, you know, would know that or you have a degree of confidence That prices should go in your favor and if you're right about the fundamentals and you'd be able to swing trade, right? So that's pretty much, you know, how it works. And so now it's waiting for any kind of pullbacks If you get pulled back into that zone, I'll probably re-enter again into maybe the lower zone If not, if I lose that, you know, 0.1 percent doesn't matter because, um, you know, I've already banked Over 1% on that trade. Anyways guys, that's it for this week. I hope you enjoyed the video Let me know if you have any questions and I'll try and get back to you As soon as possible. Take care. Have a blessed week Hi everyone, I wanted to make this video on the dollar swiss and it was a trade setup I didn't take this trade, but I know it was, um, I did some analysis and I think it was for for Spencer who, um, at the time was looking to go long on the, um, dollar swiss, right? And just a little tip, if you type in a trading view in the search bar, you'll get, um, pretty much all of the, um, charts that I pretty much, you know, post, um, and obviously you can, you know, if you click on them, you can, you know, check what was the context of it in terms of, you know, why you would want to, you know, what was happening at the time and the conversation probably surrounding that if there was one, but, um, yeah, so the, the actual chart I wanted to have a look at was, was this one. And again, I think it was, uh, it was a Spencer, uh, that, um, basically wanted to go long on this, on this currency pair and I was about to delete the analysis because I hadn't looked at this for a, for a little bit and then I realized I thought, oh yeah, this would be actually, um, you know, a really good example of, um, you know, just some fundamental analysis, first of all, as well as, you know, some technicals. Now, um, just to, guess, you know, put this into some, some more context is, was that, um, there was obviously some, um, bullish price action, something fundamentally, I think it might have been, I think it might have been the jobs numbers on the 3rd of February. I can't remember exactly what it was. It was either that or some sort of CPI number. But the point is, is that, you know, the dollar was now looking like a, uh, was then looking like a buy, right? And I did some analysis as far as, you know, pull back into the zone before, you know, potentially going long. Now, I didn't know how long that was going to take. And again, this was the original, you know, analysis, um, right here. So you can have a look. But what ended up happening was, was prices came down. Now, why this zone, this is the, this is the question, right? So why this zone in particular, what is, there's a number of reasons. Um, first thing is that it was, um, not just the level of, you know, support and resistance that had been traded, um, you know, obviously traded, but there was, as I put here, there was traders, uh, who were caught going short, right? So a lot of, uh, traders who go, um, who went short in and around this move here or wanted to go short at this move here, um, you know, uh, and didn't get a chance to would have definitely been looking for a trade here. And so, um, and we typically would be, right? In terms of, if you're, you know, fundamentally short on the dollar Swiss, then this is pretty much the best area to look for a short trade at the time, not knowing what was coming, uh, in the future or maybe a couple of hours later. And then once, um, you know, these traders got, got kind of caught going short on that level of, you know, support and resistance, yeah, or resistance there, right? Um, they've been, they've committed capital and then all of a sudden they get caught because prices have gone against them. So that's the, the capture phase of the, uh, the trade, right? Cause loss aversion bias kicks in. They move and remove their stop losses. The pain sets in as prices go against them. The pain is looking at their, um, their unrealized, uh, you know, loss and, um, instead of accepting maybe one or two percent, now they're down 10, 15% on their account, right? 20% depending if they're, you know, over leveraged. And so, you know, when you're looking at a level of, um, of, um, the, uh, of support and resistance or supply and demand, it's really important to understand the motivations of why there is likely to be more demand than supply at a level. It's not just good enough to say, okay, yeah, you know what, that's a level of, you know, support resistance. That's a level of demand. You have to understand why first of all fundamentally you'd want to be a buyer of the dollar over the Swiss franc and also as well why, um, there's likely to be more demand orders than supply orders, right? So this area here, traders going short, pain and then you've got relief. Now the relief is where traders who went short here would have been, uh, to, to exit their trade at maybe a small loss or a break even, which is the next best trade after, you know, going through, um, you know, massive drawdown on their account or unrealized drawdown when prices start to come back down. They want some pain relief. And then if they went short here, then they have to basically buy to exit, right? They have to buy to exit. And, um, and then there's traders who are trading just support and resistance looking to buy here. You know, they have no idea they're just pressing by a set and pending orders or, um, you know, whatever orders they are or looking for entries in and around this area, they're looking to buy. And anyone who went short anywhere up here is probably looking for to take profit. And if you go short here, then again, to take profit, you have to do what buy in and around here. You've also got, you know, the dollar, which was a buy at the time against the Swiss franc. And so there, there we have, you know, there we have it, right? And so, you know, that was the initial, you know, bounce. Now we did come back further, right? And this is again due to liquidity. This is due to, um, not everybody got a chance to buy. And when I say everybody, I'm talking about not retail traders, but institutional, you know, banks, et cetera. Remember, they have to accumulate and buy over a certain period of time, right? And so, you know, when, when it's okay for us to just place a place, an order, a couple of orders, but they need to avoid liquidity slippage, right? And so if there's not enough liquidity to buy enough orders, right, and fill their books as they want to, then, um, you know, they, you know, the, the, the market makers, I guess, are tasked with, um, ensuring that there's enough opportunity for them to buy at some point, right? And so this is basically what happened again, right? So when prices started to come down and nothing had changed fundamentally for the dollar, they could get even, an even better price. Yeah. And you can see basically drove prices even higher. And so, um, and so, yeah, this area here, this demand zone, again, nobody knows where, nobody knows exactly where the turning point is going to be, right? But you can, you know, be, uh, I guess fairly confident that when prices start to come down, if fundamentally and sentiment wise, you still want to be a buyer of the dollar, this is going to be a cheap area and you can pretty much see, you know, where they again ended up, um, stop hunting traders, right? So if I kind of delete a lot of this stuff, um, off the chart, you can actually see the stop hunt, you know, below traders would have been going, um, traders would have been going probably long at that area of, uh, intraday, you know, support one, two, it's stop hunts all the, the, the traders below. Yeah. So you've got that move to the upside would have drawn in a lot of traders because at the time, you know, who, who's not going to go long at that area, right? Who's not going long at that, you know, um, uh, that level of obvious support. And if you even extend that back, that's very accurate, right? A very accurate level of support and resistance, you know, um, not everyone can get involved in this trade, right? The institutions don't want everyone to get involved in this trade. And so, um, you know, the average day trader would have looked to get involved in that trade, you know, just, just taking that as a level of support, it's stop hunts everybody as they, you know, put their stop losses below that. And then, you know, you see actually that the big money ended up, you know, pushing money higher, which is basically what they wanted to do because they wanted to buy dollars, um, over the Swiss rank. So again, going back to, you know, the analysis that was on the, uh, the 6th of, um, of February right here, you can pretty much see what happens. Now this is a CPR that typically, typically, typically, um, is, is, is middle of the auction. And, um, as you're learning, I would probably caution maybe against taking these types of trades unless you're really confident on the fundamental side of things. Um, typically you want to trade an auction, uh, lows on obvious auction, those and obvious auction hires, um, in the context of looking at, you know, where we are on the daily timeframe chart. Right. So you're trading, if you're looking at a daily timeframe chart, really the obvious auction low would be somewhere down here. Um, this would be actually considered potentially, you know, potentially, but this would be considered more fair value. Um, and obviously this would be considered more expensive if you're looking at, you know, buying the dollar. Now there's nothing wrong with buying at fair value, right? There's nothing wrong with it. Um, but just in the context of, um, uh, where the best place is to buy, you're always looking at lows rather than fair value. But of course you can start to, you know, trade at fair value. But what I would say is if you are trading around fair value, um, don't put as much, um, of, of, of your, you know, max risk on fair value then you would, for example, at maybe the lows of a, of a, of a, of an auction. So, um, if you're not, if you normally trade, I don't know, 0.5%, right? Then maybe just trade at least, maybe half that, right? 0.25%. But you'd put more money on the fact that this is the better place to buy if it does come down here. Of course, you don't necessarily want to miss out on that move if, you know, you have a strong bias. So, you know, just in case, you know, the market doesn't, um, agree with you in terms of, you know, where the immediate bargain is, right? Then any prices come down here. At least you've only lost 0.25%, but this area here would be the best place to look for buying. And then that would be where you'd probably put a bit more on your normal position size. And if that, if the market agrees with you that that is a bargain, then prices should want to go a lot higher. So that's really where we are. Better risk reward down at the lows. And yeah, I thought that was a really interesting, really interesting chart, you know, in terms of the actual way that it played out, you know, you've got, for those of you who understand, you know, market making, you've got that unfair auction that needed to be completed. And actually, it was completed right there, right? So the unfair auction started right there. It was probably mostly completed there partially. But then obviously, there as well, that was obviously the completion of the unfair auction. And institutional flow push prices to the upside. So yeah, very, very, very, very nice, you know, trade setup. I'm not too sure, Spencer got involved in this, I'd have to ask, but yeah, the analysis was pretty spot on in terms of, you know, what we actually said at the time. And, and yeah, so probably Sunday 6th, and that was where we are. And so yeah, anyways, I hope you enjoyed that and really got some use out of it. And again, it's not just about looking at support and resistance or supply and demand, because they're supply and demand is everywhere. Remember, fundamentals first, right? Why is why are you buying? Why are the banks buying? Why are they likely to buy at certain areas? And then looking at the higher and lower time frames or the higher time frames first, then going down into the lower time frames, if it's in a good spot on the higher time frame, if it's in the setup, it's in the bargain area on the higher time frame, then brilliant, you know that this is a decent area to look for buying on a lower time frame. And yeah, that's pretty much it. All right, guys, take care and speak to you soon.