 Good morning, everybody will come back to another stream. Hopefully you guys are doing great Without further do let's get started. Sorry for being late. Legitimately just woke up But look at that sort of sale of the charts we can see sort of I've been moving With the ebbs and flows of price action like I said It weren't really too much news yesterday. So it's just gonna be purely price action that dictates where we end up going and Looking at things we can see that there is What going on and so let's break it out down So yesterday we sort of suggested this be a logical sort of conclusion that we come to and potentially sort of short out So this be a short reference point for us hey And the same thing occurs, but at the lower time frame here. So this is a LT short sort So you can see how this plays out when price action sort of clears it down this sort of stays in and Sort of stays relevant the duration that price goes down. So that's what it or the main thing is Like in that and that's what defines this as a great reference point Whereas this one sort of breaks here. So you can see how this one breaks here and doesn't really sort of Comparison I mean you can in essence say it there, but it's sort of defined by the fact that it happens and it stays Continual and doesn't break So you see that reference in the lower time frames here and sort of We already talked about the potential of this sort of going down and being a long scenario up until sort of 2,500 25,000 rather But it sort of stopped at this lower time frame and sort of got captured here gave you a nice little triple top and then all the way down targeted the 24k that we looked at as a bottom bound sort of target Short speed down you can see sort of collecting now here ever since this point. So you could have sort of said, okay, there you go It's sort of holding its own grounds here and just being sort of New suits So now we find ourselves sort of here we want to look at What it would do from here So Going to the charts you can see that This is our weekly range. This is our weekly low Just below 2400 On Binance futures at the very least we haven't taken it out But depending on your exchange it will vary So looking at this here you can see that This is basically a property to it This is our daily imbalance. So essentially what we're looking for is price sort of be above this or below this to sort of define potential direction But even without being this we can already say that below this point here, we know there's heavy short So there's not really any sort of Need to sort of go below here unless we liquidate These guys so unless we liquidate shorts We're not looking to go down unless we liquidate and then there's no real longs in this sort of market Because the real longs started here and here and they're already sort of out as it is It's very low Is that take a so you can finally get out the market oh But looking at things that are developing We know that today's a news day we know we've got your FOMC minutes Coming up and that's pretty much the only thing we're coming up again We don't look at any Canadian news because it's a made-up place In terms of midday nothing really happening midday you got your actually five year five year two year Pretty decent for short term sort of one so short term sort of loans So in terms of being having the five year note Auction is just decent for like a news For news outlet, but I think it gets Overshadowed by the minutes And at 6 30 you've got a speech unless it's a est so that's like Bang on midnight for me, I guess So like always no rest for the wicked Tomorrow we do have a lot more follow-up so again, this could turn around tomorrow regardless of what What today does So the reason I bring up news is because We want to mark out two o'clock here And whatever price does sort of from this point it sort of goes high hits up high And at two o'clock it's still going high and then we sort of go down It's essentially We bring this up again a little sort of continual sort of Thing where we expect price to the inverse of whatever Well, it does prior to Two o'clock Or prior to a big news release It doesn't have to be two o'clock But two o'clock is the time that today's news release is happening so that therefore it is Marked at two o'clock today Down only hey, hey, good morning Again sort of that interesting sort of builds up like I said pure price action and And that's why I like days like that because it's just purely based on Uh things here nothing sort of too surprising hit there Get into there the only reason we didn't go high is because again For this to be relevant If this didn't break and this was still stationary would have expected that rather than expect Just a slower time frame at 24 700 To end my time Yeah to end my time I remember uh unless Unless I'm being stupid my charts are always set to new york standard time By stupid, I mean I set it to What a different time just to contrast and I forget to set it back But by standard it's always EST This this is always EST I think it is yeah, there we go you to see minus five It's just as a uh Uh not cause I live in anywhere in New York. I don't sound like I live in New York. I rather But it's just it's good. It's a good time to uh focus on this and it's it's an important time zone I don't mean to blow smoke out New York's arse but They are important Looking at yes looks like you just stood down. How's that low area that we wanted? some more uh Yeah, just some more sort of boring stuff like it's it out here. It looks like you're still gonna go down I don't know why it's like the I want this to go down That's the thing Uh gold Yes finally hit that day Yeah, I mean Probably caught itself here. There you go. Look caught yourself here Instantly down hopefully goes down low I just wanted to see where it was in relation to yes, but uh In terms of us being here. It's kind of pretty much No man's uh no man's guy like it's just sort of dead space essentially Even if we go down lower, we don't really have too much Happening here except for saying, okay. Yeah price comes here because it goes here again It's a very sort of wide chasm that we find ourselves in uh, so It would be surprising to see what it does outside of this in terms of Will it really develop? A new sort of area or will it just sort of collapse into sort of this sort of bottom ground daily? And take these sort of stop out hit take the stops out here Uh, but look at this again This is how people are trading this they're trading this as a flag. They're saying, okay cool We short the break here. They get trapped. They long the break here. They get trapped As long as we're sort of collecting shorts here. So we add shorts here We're not really too fast so we can sort of go back up at any time point Even if we go up and start a bit higher so Maybe looking for it to go a bit upper deep but Whatever it does again if it starts sliding down from start From 10 o'clock you go all the way until two o'clock to sort of have a sort of Have a sort of uh Whatever movement it does. So like looking at sort of bitcoin You can see it here as long as it sort of finds itself below sort of this low You're expecting probably this third leg to move here If the third leg moves here you're targeting outside rage. Yes is probably doing the same Yeah, she sort of support that in kind So we're probably looking for the first move to be down again. We had longs here We're trying to take out the longs now. We'll see how far it needs to take out these longs If it if it does into two o'clock, I would be surprised Somewhat not not entirely but some what uh, but generally you you've got that there as as a as a state So maybe we hit up into the one one gives us an excellent width or width or two Two it gives us our two direction And then we sort of move Move along and I'm was he was way Uh, again, I don't think I want to add too much to today, uh, which is Which is kind of here Here's why one technology since stock market is due to a bounce after the six seven points sell off in the dow Yikes not having overpriced Let's see. Let's see st. Louis fed President and james bullard on monday said he thinks u.s economy is more resilient than many investors thought When was this 24 minutes ago? So it's still relevant I think the markets have overpriced recession in the second half 2022 and overpriced a recession in the first half of 23 Uh, yes, but overpriced again Uh, and maybe they are overpricing the changes of recession in the second half of 23 Well, I said in an interview on cmb isn't it not speaking today? No, that's williams Bellen bullard speaking Oh, not until a while. We're both speaking. I'm both stick uh, let's see He noted that the chinese economy was coming back from covid lockdown Oh for how long until they go into the next one? And the european economy is stronger than expected. Yeah, it's surprisingly strong due to all things considered Uh, and it seems that the u.s could be right now maybe more resilient than market thoughts Let's say six to eight weeks ago Yeah, generally I don't disagree with that statement like uh, if you look like uh, if you actually look at uh, the daily We look at sort of six to eight weeks ago Like that sort of massive decline. I was like, okay cool. Everyone's sort of playing recession cards. It's like, okay Okay, it's just declining. Everyone's like, okay, cool. And it just this october comes around. It's like Everyone's like, do you remember? The november Back to today Oh, no, not really uh We have a good headshot of being inflation in 23 Yeah, I mean congress Oh, that reminds me a little funny not funny like a dumb family guy, too Like progress. What's the opposite of pro con? What's the opposite of progress congress? Like, uh Sorry, uh, that was I digress Bullard said he His peak rate continues to be 5.83. Damn He told reporters last week and that he would revisit the estimate After January's pce data is reached on friday and get Three new three new news days. Hey Uh Yeah, I mean news is great whatever everyone says is great But to be honest it doesn't really matter. We don't really care what most traders are doing Uh, we'll give us a general guide. Are they sort of responding to that sentiment? As he would intend Where they're selling off We're probably looking to bounce. I guess so We'll see how far this bounce goes. I mean It's sort of not too bad in sort of moving. And if you sort of wall this down into sort of Into its constituents and actually Uh, you know what? Let me use it. Let's let's use the right color So That's that that's the best way to pull anything down into a constituent Ah, it's been a long time my friend It's been a long time my friend There we go As you can see here, all you see is you have a nice little line here If we round it up to 40 41 50 We pin it pin it here Come back down Then we sort of tag that breakout here as you can see Tag a breakout here. You can see we reject it here. And we've been continuing going down Sort of sleeping back into sort of this sort of structure here these sort of three drives here So We're looking for a logical conclusion in and around this area essentially Uh, yeah, it's set to the right amount So just look just looking at this how it just how it breaks Uh And we're sort of looking at our first stop. Uh, it's probably be around sort of back at 40 100 or even Even as long as for uh 40 70 40 75 Well, yeah other than that, there's not really too much, uh So, uh, where is it this again Boiling it down to its bare minimum. You can see that exit up But the main thing we're looking for is just tagging a breakout Tagging that breakout you can see here Coming back down. It rejects it itself Pulls back down here. It's this sort of three Three drives area Back at the sort of volume where the volume is And then hopefully we're looking for it to reverse probably be 247 50 Which is again where the volume is at here Again, just two sort of independent things just color Conspiring against or conspiring with us Uh, it does make sense that they conspire Even even if it's just just a little bit Uh, but Other than that, yeah, not too bad In terms of looking at Uh, what where things are going It's sort of outside the brain code because I know those people don't know How to read or use it I am not going to explain it. I've done it numerous times That was that being said that's essentially all of you in terms of uh potential sort of areas here Again, we're sort of at this sort of uh bigger short area. This is our next One that we inside eating into Worst case we're looking for is probably this daily that we drop to it would maybe seeing it long and flip at this area uh Looking at bitcoin and and it's sort of uh And we're with and Yeah There we go. We've got our sort of areas that we're looking at here 33 750 22 2100 that we met I mentioned yesterday was it on stream or not? I think it was in the in a video. I mentioned it uh, but Go down lower And see there's your four-hour point that we sort of trapped out yesterday that we mentioned sort of perfect tea up Again, this massive area we have As void we'll see how far we need to drop in order to sort of satiate They see eight people If you flip back and look at bookmark Uh, I mean we're kind of satiated here, but you got 2300 as a major one down there but Because you got that build up of short you got not too many sort of longs coming in to sort of bite back So not really too much desire to sort of be too progressive unless they're just collecting new shorts Without taking out these longs here These guys have been taken out here. I'm not really too much on the on so on the upside here. So Again, we're probably looking for it to go down, but You need coffee. Yeah, yeah, 23 000 Goddamn You've been saying 2300. Yeah, I generally just You know As long as you guys can know as long as you guys can understand what I mean, okay I still need to wake up. I know 23 000. Uh, yes I know You guys you guys know what I mean, but It would I say 23 like I can just say 23 we're expecting price to go 23 and you guys should you guys know Like that's that's the level at English. I speak when I'm tired. It's like as long as people can understand me I don't care about You feel me Uh, we're moving fast down, which is nice. But again, there's there's Who's expected, uh, we'll see how far we go down. Uh, flip back ranges Uh It's just a lot of build up, uh We want to see what happens out open. Uh, what uh, these imbeciles do Uh, the miscreants, uh, I think everything's open today. Yeah, yeah Uh, yeah, everything's open today. There's nothing sort of Oh Yeah, everything's sort of opening open today. Nothing. Uh, japan was closed the emperor Emperor's basai Interesting. I didn't know that what And closed for a while god damn Who knows the emperor's birthday Birthday, okay close tomorrow. Okay, it's closed. Yeah, it was open today. It's close tomorrow interesting So japan's closed tomorrow for the emperor's birthday. They open up friday interesting. Okay, that's good to know They also support made up holidays Yeah, but looking at this again, uh, just collecting short back out here. So it's still sort of often it is this how aggressive we're going to be on this sort of downside Uh, if we're going to break 24,000 or not Uh, if we break 24,000, you're probably slowly but surely lovable 20, uh, 23,000 Yeah, but if we're sort of holding that and getting large deposits of shorts and getting that large sell-off We're probably going to at least be super aggressive on this, uh liquidation When we get to it Once we get to it then we can sort of look where to go down again general advice for today's is you're probably Waiting for 10 o'clock. You're probably trying to see what happens Generally, you're probably you're probably not going to be in a hard position till 2 o'clock uh, just because it it will sort of Define a lot better in terms of direction 2 o'clock, you'll probably see something like this Where it just just does up and down Yeah, and and that's to be expected. It will sort of be a whip sort of motion Uh, it sounds like it would be like instantaneously within one candle So you're probably going on lower candles or you might get something like where it goes up goes, uh I mean goes down goes up goes down or goes goes up goes down goes up But essentially you're looking for uh Looking for sort of either a whip to occur then just grab the second end of the stick At at 2 o'clock or this to be your definitive sort of point to sort of say, okay It reverses at the at this point or or 30 minutes later It reverses at this point, but generally past is sort of point you're looking to sort of have A better sort of time Again, it'll be it's all dependent on what happens before uh, just because that that is uh, what we're looking at in terms of Justifying does it go up or not? Uh, if it's going down and then the reason why you doing the opposite works is because If we're going down the building up shorts on the way down the Driving up longs the driving up longs to sort of keep pulling it down But the making sure every step of the way people are trying to build that short uh bias up So they we know that they're building that short bias up So we know we have a lot of sort of liquidations At at this area here. Let's just say above 24 25 000 So They hit at two o'clock. They can go they can in one fell swoop because of a news or something whatever They can hit up. They can hit up high because They know everyone's watching the charts at the news times because It's it's the fear of missed fear of Misusing creatines. I don't know. It's a fear of missing out Uh but It's just And and they sort of see it go down and it just continue that point. They say, okay, you'll continue to go down So maybe at two o'clock you get that initial down you wick it pull it back up who knows But generally they're not trying to let these shorts be too profitable or essentially And that's why you're probably looking for a swing squeeze out the shorts Then if they really wanted to go down they'll go down after taking out the shorts So once you see a liquidation of the shorts, maybe you could reverse it. Who knows Maybe at 24 I have 100 it comes here then it tries reversing and this becomes your ultimate whipsaw So again, we don't sort of try Predict the future essentially. We're just here to say, okay here are possibilities. Uh, and here's what I'm doing Uh Reactionary to that possibility Or the other way around. Yeah, how do you know they're shorting and not longing? uh, so Uh You see the red one red equals cell so they're selling into walls So, uh, someone's picking up long someone pick someone's picking up lungs They're selling into long someone's picking up lungs. They're selling into lungs. They're selling into lungs They're sold into this massive wall someone picked up a really fat bid here uh So you can see The far the farce fast movement, but really no movement movement coming out someone's picking up lungs Just the whole duration So we know someone's knit long in this in this area Uh, but rest of people have been selling or being Been sort of being taken out So someone's that long so we're expecting once they've built up enough shorts and once they've built up the Portional amount of lungs they're looking to reverse it Now they can make money but yeah It's just red red equals Yeah, makes sense, right? Yeah, it makes sense It's it's not too abstract. It's just the way it's I think presented Because uh We're sort of stagnating now after that sort of uh larger sort of swing down. So We'll see how far we're gonna go Again with ears if we catch on the first sort of lip here that's sort of bookended There you go This is what retail sees they see this as a short and you can see how when they saw this as a short Price just uh went up and It took that in order to do that Uh do that, but if we do something like we can do something like this as a possibility Or we can just sort of go back down and sort of target this low area here It's just all dependent There's not too much to add other than that Yeah, I find I think you guys should be okay for today if I leave off Just remember that there is only one timing to pay attention to Again Most news outlets are most news Outcomes don't really matter All that really matters is had the build up prior and If or not ends up leading to a whip. So so be ready to sort of expect a whip. So where it just just this Uh, I'll expect you have two points, but generally expect sort of be more More definitive with your actual Uh trades at sort of to Other than that, that's pretty much all I got Uh, they're unless you guys want anything I did I'm pretty much Pretty much done for today. I think No, you guys cool. I am make school Okay, that's thank you guys so much for coming today. I know late I can only apologize so much Uh price does look like it's Still having short But again, this should be a relatively easy day Hopefully you guys have a lovely day. Uh, make sure you guys trade safe and I will catch you guys tomorrow peace