 Hi, everyone thought I'd make a quick video on I say quick, but a video on a Trade set up on the euro dollar now This is if you want to go along on the euro and expect some dollar weakness. So currently There's a CPR trade. So let me just explain what the CPR trade is as well as a as a stop-hunt now with a CPR trade You have to understand that You know, you can't just trade at any level or any area What you want to do is have an edge over your opponent because this is a zero-sum game and so To kind of explain it if you haven't gone through a course just as a quick Reminder what you're looking for is obvious levels of support and resistance, right? Where traders would believe that prices are going, you know, to the downside or to a certain direction And then the traders get caught offside, right? So if we're looking at just this and at this point in time You know, this level looked like it was holding, you know at one two three touches The you know traders believed the more times the level is touched the stronger It becomes lots of traders getting short in and around this area. That's nice You know pin bars doji candles Confirming price action that price is going to the downside and then all of a sudden you get situation like this where traders Are caught on the wrong side of the market So they've already committed capital and added captured in their position and as prices come back down They are looking to exit, you know, their trades and why that works for us in terms of Some some supply and demand is because if you've gone short here, right? Press sell then you have to buy to exit your trade and traders who are typically caught in their positions And going through the pain phase and now want some, you know pain relief This adds to the buying equation, right? The demand side of things traders who've got short in and around here and here and now looking to potentially take profit In and around these areas as well And if they weren't short and they're looking to buy to take profit and traders who were entering new positions Some may not be entering here, but some actually may be entering at this level of support Right here, right? So prices may react now. I'd never say, you know, some people do place-pending orders I like to look for how price reacts at levels And so what you still want to see is price react at a level and so There's lots of demand potentially going on around here from a technical analysis perspective But of course the fundamentals have to line up and so as prices come into this CPR, you know demand zone Nobody knows exactly where the turning point is going to be if there is at all But ultimately what is going to drive prices higher or what are going to drive prices lower? And so what's going to drive prices higher or lower depends really upon Thursday and core inflation So what is happening now? Is It looks like you've got Inflation that looks quite sticky right in terms of the Federal Reserve want the Want inflation to come down, but the consensus and the forecast Yeah, is actually for inflation year on year is is saying that inflation may actually come in higher and the forecast for From trading economics on economists. I think in that it might come in higher than 3% now again Nobody knows as I've said in the in the In the message It looks like I'm taking this bet to stay sticky which could mean more hide from the Fed if the if the forecast today It comes inaccurate bear in mind that the economists have been wrong, right that economists have been wrong More often now for some strange reason Haven't been through a tough time over the past three four months with their forecasts For some odd reason if you think that inflation will remain sticky buying the dollar is a different decent idea But only if current price is at fair value Please refer to the video that I posted earlier and also if you think that inflation should come in lower Yeah, which would then basically Devalue the dollar then this would be a good price to enter along on say the EU if there is a valid entry So the setup is here, right? And this is what is known as a pre-entry again I went over this in the video pre-entry and post-entries. And so this is what you would consider the pre-entry trade now You know depending on how you enter what you enter on Maybe you're looking for a capture pain candle when you're looking for Just pending orders or you're looking for a pin bar You know, I don't know what you tend to look for and depending on obviously at the time frame that you're trading But this whole area looks like a really nice area for a setup But the setup itself and technical analysis You know will not necessarily work if you don't have the market that agrees with you, right? And and the market would agree with you if From a fundamental, you know catalyst meaning that if the dollar the data comes in, you know on the Thursday as being You know either supportive or Not supportive for your trade then prices even go to the upside or they're gonna go to the downside, right? And so any end of the day nobody knows You can position yourself Long if you want or just wait, right? You don't have to get into a trade You can wait for prices to come out also as well. You do have a Stop hunt below the levels of prices go below and they come back inside the level I think that is gonna also be a really nice setup. So again, that may happen before The news and if it does then pretty much your risk is defined and your upside potential If you know the Fed do decide to hold it's gonna be a very nice trade to the upside There's also a really nice unfair auction around here as well So that needs completing above the market So really really nice. There's been some unfair auctions heading into this lower Price action as well. So really really really nice setups to the long side But this will be determined by the fundamentals 110% so if you want to get in Obviously wait for an entry and If price does come in or the news has come in it goes against you just get out of the trade, right? If you're in some profit, just you can even look in profits go to break even Exit your trade or just exit the trades, you know cancel your positions And then because you you have to expect prices to go to the downside, right? And so Yeah, that's pretty much it's thought I'd go over that those trade ideas and that's trade setups. And so Yeah, I Haven't decided what I'm doing. Yeah, I'm having a think on it at the moment It doesn't look like the probabilities are for dollar strength So for me if I wanted to get in on this trade, I would really have to wait for a decent pullback You know before I get in short. I'm not looking to buy the dollar at these lows. That's an expensive area I don't want to buy the dollar an expensive area is expensive here and it could be expensive here and Even if prices, you know Prove and go to the downside I'm still gonna wait for a pullback for prices to then, you know For me to look for a short trade on the euro dollar if I decide to trade the euro dollar, right? Because I might be trading another currency that I think is It's weaker than the euro. So, yep, that's the analysis. I hope that helps Take care and speak to you soon