Starting the Stream [Music] I [Music] small is you SW is [Music] as [Music] you is you SL [Music] is [Music] smart as you smart as [Music] [Music] you w [Music] [Music] [Music] [Music] [Music] sh he [Music] [Music] [Music] [Music] w n [Music] [Music] we a [Music] he [Music] he [Music] [Music] he [Music] he [Music] w [Music] [Applause] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] a [Music] [Music] [Music] e e e e [Music] Welcome yes [Applause] [Music] sir what's up guys [Music] how you guys doing today [Music] [Music] [Applause] [Music] [Music] beautiful beautiful beautiful let's go [Music] ladies and gentlemen ladies and gentlemen welcome back once again to the uh to the live streams good week so far I hope you guys are doing well uh shout out to everyone who stayed stick with us on the stream yesterday it paid off probably the longest one of the longest trades in the history on the live streams we were stuck in a trade for three hours but we ended it uh we ended it on the right direction all right all right it's time for some serious stuff though to today we have um right now we have actually the interr decision in regards to the euro this might affect the dollar this might affect gold so far not really a big a big reaction we're going to talk about that uh at this particular moment here euro is starting to lose a little bit of of strength at the moment here is going to have an impact on the dollar and maybe therefore also on gold but at the same time we have news coming in 11 minutes the PPI the PPI baby good on you guys let's see what we have with us let's uh put on our standard Tunes to to kick it off you know slow slow slow and steady that's all we're believing nice slow and steady all right beautiful Community let's see where r with us on a beautiful Thursday already man time flies right when you're having fun crypto Maverick good to see you my friend R it Lawrence uh Bon Bonanza uh Matias yes sir Maria good to see you R it uh good to see you s safw uh Jackson Robinson says PPI may come in above expected I'm estimating 0.2% due to increase price in Commodities driving up production cost employee contract contraction wage pressures and supply chain disruption interesting raaza Forex s what else do we have here what else do we have here green reaper good to see you again welcome back King Abu kabar b b kamuu mtop hello Lorenzo y good to see Yara Aaron all right the f is back Fantastico okay let's get to work Daily Analysis let's let's get to work man it's time for uh some prize action hopefully again gold particularly coming up in around 10 minutes we're going to see the PPI coming out here um what do we have today well we have a couple of key levels to work with all right number one we start we have to pay very close attention to the alltime highs the alltime highs man 2531 once again we're creeping up and we're holding up strong all right so let's see what the news does today we're not going to trade until after the news because I have to get more information about what's currently going to happen with the news included I need to see uh how how Gold's moving here we're pushing up before the news uh the dollar is starting to push down a little bit the euro is kind of doing hovering around not really moving much here after the interest rate decision here not as big as expected but you can see clearly that when the Euro moves up the dollar uh moves down and if that happens gold will probably also move up so you see that confirmation of gold pushing up when the Euro pushes up as well here so also today is one of the these days where we have to pay attention to the euro and not just the the dollar usually we only pay attention to the dollar but because of the interestate decision today that we have seen now 3.65% right 55 basis or 50 base points are lower than uh than expected here right you can now expect a potential um reaction from the Euro and if that's the case here we're going to find out what the Euro will do after the news and uh based upon the Euro based upon the dollar and then based upon the way gold is moving towards our key levels we can find our trade setups right here right there okay question of today will we break the highs or are we going to reverse down back into the range here all right let me know in the chat what you guys think do you guys think we're going to break the highs based upon your analysis or are we going to potentially come back into the range as always sticking into this range here that we have been building since August around 30 days already almost in this range right now not breaking the 2531 and not breaking the 2472 we're in that hourly or like I could say now 4 hourly range to be exact here so that's going to be very interesting so the other thing is we might even sweep the highs and then reverse down all right but anyways we will keep a very close eye on the Dollar on the Euro how do we move what can happen here and most importantly right now I have to say gold is looking quite strong after yesterday when we found that low during the CPI here right we came down we were looking for LS um we lost our first trade we lost a small trade at the beginning and then we made it all back plus more when we took our second trade up towards the 2417 2416 a little bit there and that's when we started to come down and now we're pushing back up again so you can see clearly that during the Asian session and London session today we have been we have been actually pushing up right clearly uh London low swept and then a uh push to the upside right now at this particular moment question is are we going to take out the previous London High series so the previous daily highs potentially right there okay this is also a critical critical level so Market expectations what I'm interested in is I want to get I want to see one of these levels getting swept I want to see at least the previous daily High the alltime high or anything in that manner at least if we push up I want to see that getting swept before we could start thinking about a potential reversal play same as we looking for yesterday yesterday we were looking at a move where we came back down towards a critical key level the previous daily PC at the time here we held support and we started to push back up again now I want to see us breaking highs manipulating highs and then maybe even reverse who knows we're going to find out here so I marked out the 2529 I Mark out the 2531 because that's the alltime high that's also a very critical critical key level to work with so two critical key levels right here to work with and then of course we do have if we do reverse here uh we also have another layer which is this previous day right the previous daily range which is sitting at 24 25 24 so we have definitely some errors of resistance here or or key levels that we cannot neglect all right 25 24 25 29 25 31 these are my three levels all right if we do manipulate the previous daily High uh and we start to slow down I'm all in for sure shorts I'm alling for shorts especially because we also have to think what is the true Catalyst for gold to break out of a big range here is the PPI going to do it or if the CPI is not even able to break out of this range neither the NFP then is it going to be the interest rate decision for the dollar that's going to finally get us out of that 4-Hour range that we have been building now for the bus month big range in the range we always have to be careful here like I said before I don't like to buy when we're in resistance and yes we do uh have a lot of liquidity built up above here but I don't like to buy in resistance and I don't like to sell in support especially not when we are in a local range so either we break out of the range strong then I'm all in for long setups but until then a quick uh know a quick SW sweep followed by uh uh internal weakness is not going to do it for me all right it's not going to do it for me then I'm rather looking for shorts again and then take price back down once again potentially pushing price back uh into the range again until the bigger Catalyst comes into play so yes anyways uh news in four minutes let's uh keep a close iron on our key levels and let's see if we can sweep one of these highs first and if we then show any weakness then we know what to look out for and that is still for shorts until we're proing otherwise all right I'm not going to look for Longs yet in resistance so I'm going to only look for shorts uh as long as we can until we we truly break out strong and we really leave the range then I can sa with more confirmation now we're going to potentially break out and we're going to make uh and look for the next move here all right trying to Long here to go for the sweep highs uh it's not going to do it for me yet okay but if you do come up then that's all good that's all fantastic because then we can at least sweep out potentially some of our key levels here so yeah pay very close to uh to number one the 2524 2529 2531 in my opinion the 2529 2529 is the sweet The Sweet Spot right the previous daily high is in my opinion The Sweet Spot um to be swept to if you can take that out and we start showing weakness I'm all in for sells I'm all in for sells so for now I'm only looking for sells and not for buys yet until we really break out and and look for more strength um only look for sales now only interested in sales why we do have the understanding of the interest rate decision for the Euro here if the dollar now is coming down and the new starts reversing the dollar or whatever the case maybe you know we'll we'll figure it out too but you know we want to see gold pushing up a little bit but that's not for me trade worthy right I see what will happen after that so yeah uh let's keep a close eye on the news three minutes left uh quickly the initial jobless claims and a PPI in combination and I have to also um you you know make sure that you guys are aware of that as well the ECB interest rate uh press sorry the interest rate the press conference is coming as well I will not um you know I will probably not listen to it because if you listen to this press conference then you guys are all going to fall asleep and then we're going to have a very boring live stream because you know that tends to happen a lot during these press conferences because it tends to be relatively scripted and uh you guys don't like that you guys don't really like that we to Uncle Jerome uh PA sometimes here because you know he's my uncle but uh Christine lard now go a little bit over the top over the top for me right now okay let's see let's see let's see let's see there we go there we go two minutes and uh yeah man ready to look for shorts if uh we can get into our setups if we can get into our setups I'm going to set up my uh my lot sizes and there we go there we go let's see five or six let's do six let's do six micros or one no no six six between six and 10 micros depends what we uh What will what will happen what will happen today depends on the probability okay there we go one minute left you guys excited chat chat is sleeping a little bit uh how much is one L says keep in mind I'm trading Futures on the site here I I I have a close on spot for youo so uh you know do take that in in consideration I uh I am aware I am aware of that I am aware of that but uh I have my spot chart open for you I'm trading Futures on the side so you guys will know exactly what I will do on Futures while you guys are looking at spot if you trade spot or Futures whatever the case may be whatever the case may be okay there we go baby there we News expectations go climax or anticlimax it seems like an anticlimax uh negative for the initial job is claims positive for the PPI here 0.2% somebody in our group group was right somebody in our chat was correct about it who was that I think it was Jackson he was talking about it in our uh in the chat right here he said 0.2% dollar pushing up a little bit now does it have an impact on gold not really you can see right now gold and the dollar are are relatively neutral when looking at the correlation coefficient so this shows you what the correlation is between gold and between the dollar sometimes it's negative sometimes it's neutral when it's neutral is not as effective to look at the dollar chart here but still I wanted to uh point this out anyways uh right now it seems that we're actually on the little bit on the um yeah on the slower side to be honest it's not really looking that um that strong at the moment here on Futures we tapping into the previous daily PC as well here and on gold we are still holding above the previous daily PC so we need to break in close below it for shorts in my opinion we need to close below the 2519 for shorts and if we start to push up further then you know what we're looking at right 25 24 25 29 that's it overall uh similar to yesterday yesterday was was okay in the end gold started to move a little bit more right we started to equal moving a bit further but it was not that incre incedible all right as we have seen before during CPI events but yeah anyways expect a lot of volatility why because of the press conference that's coming in around 12 minutes the 12 minute the Euro press conference will have an impact on the dollar and therefore might have an impact on gold even um if it's not negatively correlated you know you could still U we could all align to that if the dollar starts moving Big Time gold will follow up either in the same direction or either in the opposite direction but it's about volatility right volatility is what uh what matters right now at the moment to so yeah like I said I'm still only interested in sells either we push up we get rejected there or we break and we swipe the previous daily highs we get rejected there we still not take out the alltime High um or we break below the 2519 that I'm also interested in looking for sells as well why not bu I said it before um just simply one more time here if we are in a range and we are in in the 4H hour range this is the 4our range and we're trading in the upper the upper echelon of the range we're trading right here right now then I'm personally not interested in buys until we clear clearly break out and and and show support here show support here then I'm all for for continuation uh buys or continuation place here but I don't like to buy in resistance and I also don't like to really sell when we are in that daily daily support either okay so for now sells are still what I'm looking for and you could say yeah but Lorenzo look at all these look at all that liquidity getting built up above the highs here and yes you have a very valid point there is indeed a lot of highs that are yet to be taken out there but um you know we said it about the CPI we said it about the NFP so what makes gold now suddenly break out you know to the upside here what is the true Catalyst for gold to do it and to break out of the range I don't see the true Catalyst until unless Christine lagard from the ECB the press conference starts you know talking a lot of trash then uh you know we might respond to that but for now either a strong confirmation or whatever the case may be then uh then this assist geopolitics is a huge scandalist to uh yeah yes yes politics are are definitely um one layer but at the same time you also have the commercials the users and producers that are also very important right the underlying factors that move the supply and demand of gold as well here many factors man many layers many many layers many layers gold is not just politically driven only but do agree if now um you know whatever a massive A Massive Attack happens uh then yeah you might see out of Fe the gold prices go up but do take in consideration that all the terroristic attacks happen in the weekend when the markets are closed okay I'm serious about that by the way you should check it out so dollar is uh indeed indeed starting to slow down here gold is pushing into resistance the 2524 going to go to lower time frames lzo gold tend to break a range hardly so you don't consider taking impulse entries above the alltime high yes sometimes yes yeah yeah yeah yeah yeah yeah but not when we are very very close to it though not very very close to it I show you something else some interesting information as well here let me show you the book map uh book Potential setup , Bookmap map if we are heading to the previous daily high and we are starting to show weakness I am all in for shorting it I'm all in for shorting from this level I am all in for shorting it around and I need to see where it exactly is on um on future here give me one second it's 2528 2558 on on Futures okay there we go Perfect all right so the boot map all right let's look at gold real quick on Futures here you see the 2555 here a lot of orders are placed sitting above here it kind of works as a magnet it pulls it into higher levels right now which is the 2555 2556 78 and nine you can see now that these orders are placed there we're kind of pulling towards it as a magnet when there is nothing else uh you know to pull towards to then usually this is what they're doing they're pulling price towards it question is what happens once these levels are taken once this has been taken what happens after that and this is when we're heading into the previous daily uh the previous daily highs and that's going to be interesting for us very interesting for us right uh right there okay Loreno when do the most Tim highs happen well funny enough have you ever actually noticed that most of the altime alltime highs happen around a Friday Friday closure heading towards the weekly C closure that's also an interesting one oh yeah but keep in mind and I really want to make sure you are aware of it one more time here in 10 minutes we do have or six minutes we do have the press conference the ECB press conference I I assume you guys don't want to listen to it right I assume you guys don't want to listen on it yeah Philip says Friday is statistically the strongest day for gold maybe that's why yes Larry Williams said yeah Larry Williams indeed said the same thing correct one of the ogs indeed one of the ogs L answer was a good trade yes today this proves once again that holding on to your trade sometimes pays out I agree I agree yes was indeed the case here sometimes we had to uh stay with our with our trade here we we were in our trade like we were stuck in a trade for uh well two hours two and a half hours yeah two and a half hours something like that now we're heading to the previous daily high this that's where that's where the magic happens previous daily highs this Euro conference will affect gold uh I think it will yeah I do Market recap believe it will uh look at what Gold's doing uh the euro is uh dollar is stanking before before before the uh the actual outcome here PPI came out better than uh than expected dollar is stanking initial job is claims King came out slightly higher slightly higher you would say kind of balanced itself out there but dollar is pushing down a little bit now before the press conference starts so yeah we'll we'll see it's uh obviously is now having an um a good solid impact on the uh on the dollar or on gold not on the dollar of course okay prev High taken this has this has all to do with the press conference ladies and gentlemen the press conference that will start soon I do believe that this could have a major impact on uh on gold now okay I'm at 1 minutes ah dollar is still some room huh dollar is still some room we're almost there though we're there we are at support dollar is at support [Music] wait until the press conference starts we're almost there let me quick look on YouTube here [Music] Entering Trade #1 oh one minute left I think we're going to start very soon I want to start entering at least one position now so I'm in I'm in short now we're pushing up hard before the ECB press conference here stop where I manually manually manage it for now we close this 5 minute candle in 20 seconds two one close mid okay yeah so the previous daily High has been taken out here which is uh critical for me personally to say okay we have taken out P daily high now we have the press conference that's starting here this is an really aggressive move before the press conference actually starts which is very interesting to see here uh the dollar is now at some level of support we're ref finding support at the dollar you can find of see this happening at the moment as well here and um yeah same countes for the uh for the Euro here we will uh we will see if the Euro starts becoming weaker right now right due to that rate cut and the dollar hold support and it starts to hold up I'm willing to uh to see where we can take it we're pushing up still really aggressively wow okay alltime Highs are taken we're still in never over risk we're keeping our risk tight we're only scaling in if that's an assassin here so today is the day we're starting now pretty nasty pretty nasty but the highs are taken out right now I'm going to pay very close test to where we close here that all the the decision maker for myself to say okay do I close my trade or uh do I keep it open we have uh we have taken out the highs now officially we added the shorter round here we have now taken out the highs here so I'm very curious to see how do we close here and that uh will be the decision maker for me to see do I hold my position do I close it do we come back for our entry what is the first reaction here we're all going to find out in a in a second here keep your head cool and then it uh it should be fine man don't risk too much you should be good first closure will be of course the hourly so we can pay very close attention to the hourly candle here what about your draw down not much $295 $300 on a 150k account so don't worry ECB Press Conference all right she start talking let's see what she has to say now a little bit though out of the annual rates inflation should then decline towards our Target over the second half of next year for core inflation let listen to it and 25 have been revised up slightly as Services inflation has been higher than expected at the same time staff continue to expect a rapid decline in core inflation from 2.9% this year to 2.3% in 25 and 2% in 26 domestic inflation remains high as wages are still rising at an elevated Pace however labor cost pressures are moderating are partially buffering the impact of higher wages on INF EUR in resistance so this is critical we really want to come down remain restrictive and economic activity is still subdued reflecting weak private consumption and investment staff project that the economy will grow by 0.8 she's French she's French yeah she's French rising to 1.3% % in 25 and 1.5% in 26 this is a slight downward revision compared with the June projections mainly owing to weaker contribution from domestic demand over the next few quarters we are determined to ensure that inflation returns to our 2% medium-term Target in a timely manner we will keep policy rates sufficiently restricted for as long as necessary to achieve this aim we will continue to follow a data dependent and meeting by meeting approach to determining the appropriate level and duration of restriction in particular our interest rate decisions will be based on our assessment of inflation Outlook in light of the incoming economic and financial data the Dynamics of under Ling inflation and the strength of monetary policy transmission we are not pre committing to a particular rate path the decisions taken today are set out in a press release available on our website as announced on March 13 2024 some sounds exactly like exact exactly the same implementing monetary policy will take effect from 18th of September in particular the spread between the interest rate on the main refinancing operations and the deposit facility rate will be set at 15 basis points the spread between the rate on the marginal Landing facility and the rate on the main refinancing operations will remain unchanged at 25 basis points so I will now outline in more details how we see the economy and inflation developing and we'll then explain our assessment of Financial and monetary conditions turning to the economic activity the economy grew by 0.2% in the second after 0.3% in the first quarter falling short of the latest staff projections growth stemmed mainly from net exports and government spending private domestic demand weakened as households consumed less firms cut down business investment and housing investment dropped while Services supported growth industry and construction contributed negatively according to survey indicators the recovery is continuing to face some headwinds we expect the recovery to strengthen over time as rising real incomes we're slowing down allow households to consume more the gradually fading effect of restrictive monetary policy should support consumption and investment export should also continue contributing to the recovery AS Global demand Rises the labor market remains resilient the unemployment rate was broadly unchanged in July at 6.4% at the same time employment growth slowed to 02 per in the second quarter from 0 3% in the first recent survey indicators point to a further moderation in demand for labor and the job vacancy rate has fallen closer to pre-pandemic levels fiscal and structural policies should be aimed at making the economy more productive and competitive which would help to raise the potential growth and reduce price pressures in theck Mario dr's report on the future of European competitiveness and enrio L's report on empowering the single Market stress the ear urgent need for reform and provide concrete proposals to make this happen implementing the eu's revised economic governance framework fully transparently and without delay will help governments bring down budget deficits and debt ratios so the Euro still resistance hereis if this is dropping and strong start their medium-term plans for fiscal and I think we need to hold and be patient looking at inflation now according to eurostat's flash estimate annual inflation dropped to 2.2% in August from 2.6% in July Energy prices fell at an annual rate of 3% after an increase of 1.2% in previous month food price inflation went up slightly to 2.4% in August Goods inflation and services infl inflation moved in opposite directions Goods inflation declined to 0 4% from 0.7% in July while Services inflation Rose to 4.2% from 4% most measures of underlying inflation were broadly unchanged in July domestic inflation edged down only slightly to 4.4% from 4.5% in June with strong price pressures coming especially from wages negotiated wage growth will remain high and volatile over the remainder of the Year given the significant role of oneoff payments in some countries and the staggered nature of wage adjustments at the same time the overall growth in labor cost is moderating the growth in compensation per employee fell further to 4.3% in the second quarter the fourth consecutive Decline and ECB staff projected to slow Market again next year dollar holding support that's good despite weak productivity unit labor cost grew less strongly in the second quarter by 4.6% after 5.2% in the first quarter staff expect unit labor cost growth to continue declining over the projection Horizon owing to lower wage growth and a recovery in productivity finally profits are continuing to partially offset the inflation AR effects of higher labor costs the disinflation process should be supported by receding labor cost pressures and the past monetary policy tightening gradually feeding through to Consumer prices most measures of longer term inflation expectations stand at around 2% and the market based measures have fallen closer to that level since our July meeting let's look at our risk assessment the risks to economic growth remain tilted to the downside lower demand for Euro adding to the closure this is critical going for instance to a weaker World economy 1 minute and 30 second for an escalation in trade tensions between major economies would weigh on Euro area growth Russia's unjustified war against Ukraine and the tragic conflict in the Middle East are major sources of geopolitical risk this may result in firms and households becoming less confident about the future and global trade back disrupted we're back gez growth could also be lower if the lagged effect effects of monetary policy tightening turn out stronger than expected but growth could be higher if inflation comes down more quickly than expected and Rising confidence and real Out of Trade #1 on BE incomes mean that spending increases more than anticipated break for now if the world economy grows you can say yeah it can come down now but trust me you can find better entries could turn out higher than anticipated no stress needed if wages or profits increase by no need to stress it's all got to be fine just chill risks to inflation stem from the high don't get emotional geopolitical tensions got to be fine you get your opportuni Energy prices and freight costs higher in the near term and disrupt global trade moreover extreme weather events and the unfolding climate crisis more broadly could drive up food prices by contrast inflation may surprise on the downside if monetary policy dampens demand more than expected or if the economic environment in the rest of the world worsens unexpectedly could still push back financial and monetary conditions Market interest rates have declined Market be very careful buy this is why you have to be very careful with buying an alltime high outlook for Global grow very careful and reduced concerns about inflation pressures tensions in global markets over the summer led to a temporary tightening of financial conditions in the riskier market segments overall financing costs remain restrictive as our past policy rate increases continue to work that way through the transmission chain the average interest rates on new loans to firms and on new mortgages stayed high in July at 5.1 and 3.8% respectively credit growth remains sluggish amid weak that was an was an exciting B lending to firms grew at see how you canot stress to be% in July down slightly from June and growth in loans to households edged up to 0.5% broad money holding up as measured by M3 grew by 2.3% in July the same rate as in June to conclude the governing Council today decided to lower the deposit facility rate by 25 basis point we are determined to ensure that inflation returns to our 2% medium-term Target in a timely manner we will keep policy rates sufficiently restrictive for as long as necessary to achieve this aim okay dollar is uh to follow data dependence support and meeting by meeting not looking strong not looking weak Neal appropriate level and duration of restrictions in particular our interest rate decisions will be based on our assessment of the inflation Outlook in light of the incoming economic and financial data the Dynamics of underlying inflation and the strength of monetary policy transmission we are not precommitment to a particular rate path in any case we stand ready to adjust all of our instruments within our mandate to ensure that inflation returns to our medium-term Target and to preserve the smooth functioning of monetary policy transmission look at a flip and we are now ready to take your Trade recap questions fill up the Gap okay now it starts the questions are coming to be honest guys we were supposed not to listen to it but we took a short price shoot up came back to our entry we went out you have to be calm all right why are we not stressing out well a couple rules here we don't over risk that's one layer we do not over risk right we can handle draw down we can handle a little bit of draw down sometimes there's nothing wrong with handling a little bit of draw down in these cases here all right you know it's a very manipulative move here around the alltime highs most manipulations happen all the time why because that's the moment when buyers step in the most and think this is going to go to the moon right then it pulls back it doesn't and yeah just sit it out sit in your hands and uh be come and wait now for the US Open and we try again and that was a unanimous decision we proceeded as we normally do and have very clearly indicated by obviously looking at data and looking in particular at data through the prism of our three key criterias so when you look at the incoming information it confirms our previous projections and it conforts us in our confidence that we are heading towards our Target in a timely manner so during the course of 25 in particular inflation will decline towards our 2% if you're trading with no stop loss and notp that's gambling in my opinion I don't agree because I know exactly what my risk is and I just under risk a lot of guys over over risk and that's why they have to put such a tight stop loss and that only decreases their overall wind rate so sometimes we have of course a very clear uh a very clear stop loss actually most of the time but sometimes we know in heavy manipulated situations we just risk a little bit less than we usually risk and we can handle moments like these all right when things go against us and when we are not heavily that's why I'm against fixed risk always risking the same I always look at every single individual trade and decide what my risk parameter is going to be Target and we thought that given that when we receive the projections of our staff for September it's virtually unchanged relative to June for the inflation Outlook and it continues to see a return to 2% before the end of 25 and this is by the way the five consecutive projection exercise uh pointing to that 2% at the end of 25 so why do I say that because it certainly reinforces our confidence in the solidity and robustness of those projections that's for the first prism the inflation Outlook the underlying inflation on the other hand we look at the various indicators that we have uh from domestic to pcci and here we see one so real quick what we have to take consideration Al that the alltime high was taken out we didn't close an hourly candle above it if this next hourly candle does something specifically like that and we close above it that shows significant strength that might flip the scriptor until then around the US is open the New York Stock chain is open I still think there are possibilities to see a potential turnaround happening especially if the dollar finds some supporter based upon this move now right but it depends how strong the how strong gold will react towards the dollar tapping into the 101.0 66 so we have to wait for the US Open now continue to be restrictive and the footprint of our monetary policy in the real economy has been visible so on the basis of that uh review of incoming data staff analysis consistency of the projections for the fifth exercise in a row that decision to cut by 25 basis points was perfectly legitimate and as I said unanimously decided we still big I drink to the Future well future I I'm kind you know Spanish symbol she's wearing today because we have consistently said and we repeat again that we shall remain data dependent and that is particularly justified in view of the uncertainty that abounds so we shall be data dependent we shall decide meeting by meeting and uh our path of which the direction is pretty obvious a declining path is not predetermined neither in terms of sequence nor in terms of uh volume and I would like to add one thing which I have already said before which is still true which is that data dependency does not mean data point dependency we're not going to be fixated on one single number we are looking at a a whole battery of indicators and I'm saying that in particular because September will certainly deliver a low reading of inflation very likely we expect because of the base effect particularly on energy our inflation numbers to be up in the third in the fourth quarter so the last three months of 24 September is going to deliver a low reading but we're not just looking at one indicator we're looking at a whole range of data that we receive thank thank you Madame lagard and the next question goes to oh okay dollar dropping please yes sir thank you very much good afternoon everybody um so um the October meeting is a short five weeks away so to use your own words from March do you think you will know a lot more or just a little more come October 17th second question is about something else is about something that ECB has been championing for years and that is crossb consolidation between Banks it seems it's finally happening with unic credit building up a stake in Commerce Bank so does the ECB welcome this development trade management G trade management right here right down patience questions um not over risking we can acting when necessary before October 17th which is a don't hope for the best of time compared to TRS that we've had in the past but the dollar will come to to support repeat what I have said we're still not there we are going to be data dependent we are going to decide meeting by meeting I'm not giving you any commitment of any kind as far as that particular date is concerned and our path is not predetermined at all on the on the other matter that you referred to um bnny boy say or as strategies based on key levels does the alltime high level make it a key level like the PC can we Bas ENT models of it yes we have a clear procedure yes which involves our supervision Authority the SSM which threshold of [Music] um Equity ownership or transfer of of of shares if you will has to be consulted has to authorize and of course I'm confident that the authorities of these institutions concerned namely unic credit and Commerce Bank will be perfectly aware of their regulatory requirements and will comply with she will be finished soon and then we have the open do what it has to do uh in full Independence and uh clearly crossborder mergers have been hoped for by many authorities and it will be uh very interesting to see that process unfold in the weeks to come thank you and the next question goes well P was right Euro did go up in a dollar is short bearish yeah um the first one um that the rates needs to be sufficiently restrictive for some time um how many times can the ECB cut interest rates um before they are no longer sufficiently restrictive so basically where do you see the so-called neutral rate and the second one is more on the effect of interest rate Cuts how much of a boost could such Cuts deliver to the euro area economy given that at least some if not most of the problem problems are structural thank you I'm going to thank you for your two questions I'm going to spend a bit more time on your second question because on the first one you know how long are you are we going to be sufficiently restrictive until we have been sufficiently restrictive because what we want is go the ofation just been taken out right now in aely man all right so it's it's a completely different story from spot here and I think that it's important to take in consideration at Target during the second half of whereas gold now has far exceeded the high spot futes we have in our you can see literally just swept the high observe how that Baseline evolves over the course of time as data comes in to decide for how long we have to continue uh cutting rates and at what point we have been sufficiently restrictive so I'm not going to give you any idea as to where uh our star is because this is an unobservable concept anyway and we will as we get closer to it we will know certainly better U as as you probably know staff has produced a very good uh paper on our star which indicates that it's probably a a tat higher than where it used to be but you know I'm not endorsing this I think as I said as we get closer to it we will know better whether we are there and there are multiple factors that are going to I'm going to focus on futes now now your second question uh is this 25 basis going to be a boost uh for our economy given that so much is structural so I know I'm I'm preaching the converted here but obviously there is a life the time when we make decision and the impact is actually felt and can be observed in the economy what we are still observing at the moment is the impact of our tightening decisions from more than a year ago almost two years ago now this continues to have an impact we believe that the peak has been reached in relation to GDP um but there will be continued although down downward sloping effects of those decisions and we will have the same kind of lag applying to the decision that uh we are making now so that's Point number one the passing of time does not satisfy the instantaneous satisfaction that we would have to see the results coming out of our decisions this is the reality of monetary policy and the functioning of our economies the second part of my answer to your question because you do refer to structural CA keep in mind she knew all these questions already right chance to she knew that all these questions were coming command the dragy report you know it's we haven't had time to dissect everything no neither has anyone for that matter because it it's uh sufficiently substantive and and material enough to require more time and and and special attention but it's a formidable report in that it it pauses a diagnosis which is severe but which is just in our view and it also points to structural reforms practical proposals to achieve such structural reforms that could be extremely helpful for Europe to be stronger but also for us as Central Bank to achieve better results in our monetary policy if productivity can rise as a result of the structural reforms for instance that would be very good news for us if the Capital Market Union can be implemented and more financing be made available in order to finance Innovation that is good news for us as well when it comes to inflation price stability and the components that underly uh this work that we do thank you Madame lagard and the next question goes to or KC um of B please thank you for having my question Madame lagard are you worried about the risk of below Target inflation uh in France Inc estimates that uh inflation will be 1.6% in December and uh we can add that oil prices are at the lowest in covid so is it a risk and second question about the mar drug is report uh Can it have an impact on monetary policies on the ecb's mandates thank you promise there baby promise as you will appreciate I'm not to um give you an answer that is country specific because we work on on a Euro area basis U but obviously it's a risk that we have to be attentive to which is Market recap why keep a close eye on this one Al spot as well here Futures is getting rejected sustainably um has to be asymmetric in the medium term as we have we go we took out in in our strategy review which remains completely valid uh you mentioned two things uh you mentioned one one thing in particular you mentioned energy well energy has been a one of the key factors that took prices up directly and indirectly through all sorts of channels and in the same vein as it took prices up it is helping to move prices down well this is an exogenous um matter and this is one you know that that can move again and that we have to be prepared for the second question you ask is um and I think I have partially responded to your question uh some of the proposals uh in the dragy report as well as in the Lea report by the way because the single achieving the single market and improving the competitiveness in in in our view see if any impact this this conversation some of those proposals touch directly on on you're are still pushing what we are specifically concerned about and the Capital Market Union is one in particular on which the governing Council has had a a strong View and issued a special um opinion upon in the same vein uh the financing on of innovation the increase of productivity the competitiveness in relation to its external position all of that actually matters when it comes to the work that we have to do I didn't see in Mario dr's report any uh suggestion that the Mandate of the ECB should be uh modified we have a single mandate as you know which is price stability we comply with the treaty and with the Mandate that was given by the founding fathers of Europe and uh hopefully we can uh not hopefully but we will deliver on that on that mandate and whatever is suggested by Mario dragi has a lot more to do with structural reforms um I much hope that the executive authorities in charge will actually take it to heart and will see a path towards those structural reforms thank you uh turning to uh the remote participants I'd like to give the floor to Martin Arnold of the financial times Martin please so Martin is still with us today ah way hello president nard uh two questions from me if I may firstly I'd like to ask about Services inflation 10 minutes for New York open we CL down this went up again uh how much concern does that give you uh and what are what do you see as the risks going forward uh on that as you've raised your forast slightly for core inflation and the uh second question if I may is is back on the dragy report uh does the ECB intend to adjust monetary policy in any way uh to facilitate implementation of uh dr's proposals thank you very much well thank you so much uh for your for your two questions and thank you for um pointing to this uh Services inflation because that is clearly uh the the the component of uh prices um that requires very attentive uh understanding monitoring and I'll come to that in a second but suffice to say that it went up um from 4.2 to 4.4 compon are declining path uh that particular segment is is uh increasing and we've tried to decompose what is behind it and it's a combination of holiday packages um insurance and I'm trying to remember what is the third one um I'll come back in in I'm sure it will come back but it's it's predominantly these two we are looking attentively to the the the the the Nexus of three elements number one wages number two profits number three productivity and services is particularly sensitive to uh wage increases so our expectations is that Services uh inflation will decline over the course of 25 why because what staff had anticipated which is moderation of wage wages growth buffer buffering of uh wages cost by slightly declining profit and increase of productivity is actually uh being demonstrated by numbers by observations if you look at wages whether you look at CP compensation for employee whether you look at negotiated wages whether you look at uh unit labor cost she kind of looks like my all of that is going down wage tracker same thing I'm not joking and our expectations is that it will continue to go down in the course of 25 we will on negotiated wages we will still have relatively High numbers and we know that some are in the making at the moment uh the auto workers um unions the E Metal uh request and and in various other countries but uh with some erogen heterogenity um will continue to move wages okay I think this is the the Market recap biggest move for happened there I think now we're heading towards the dollar starting to push up half of 25 yeah okay thank you thank you Christine all right we're heading now into the into the US Open in like six minutes we gave it a try at first here we gave it a try price came back to our entry couple of lessons I think from that is that around news of course around these events here we never risk more than we we want to we can handle a little bit of draw down that's no problem and you know that once the highs are taken out you can see and experience these type of pullbacks here um obviously right now based upon what you can see here you you can just confirm it's extremely indecisive extremely indecisive right now at the moment B based upon what you can see now is that we're kind of holding above the the initial alltime high on gold spot here 2531 but if you go to the Futures chart you actually swept the previous highs the alltime highs and now you're trading below it right so this also is definitely interesting and important to um to think about as well so far I have to say this is holding up very well this is holding up very well now the US Open in 5 minutes um yeah will most like give us somewhat of an Impulse here but I don't recommend to sell here right now until like further further confirmation why because you're now closing above alltime highs here on spot and now you're potentially even flipping this into into support here and again now the dollar is starting to push up again gold does not really care either all right so that's important let's take the correlation coefficient one more time for gold and let's see what happens with the correlation itself so let's do Futures there we go 1 hour still on the negative side right now at the moment so pay attention to to see if the dollar can hold up here if the dollar can hold up above this level of support then uh yeah we probably know what's going to happen eventually but the euro is moving and it seems that the gold is moving with the Euro all right gold is moving with the Euro at this particular moment we can also check it one more time here as well if you want to have that confirmation let's use it for euros well there we go yeah strong you can see it positive uh correlation right now with the Euro so if the Euro stays strong gold stays strong all right that's the top process behind it here so if the Euro stays strong right now at the moment then gold will potentially stay strong as well so there is no reason to sell gold when the Euro stay strong all right that's why we use this tool the correlation coefficient to determine the the current strength and weakness and now we know now today is the day of the Euro we we just have the or watch the ECB press conference you look beautiful today Christine absolutely gorgeous you can see right now that based upon that we have to follow what the euro is doing and if the Euro stays strong it's kind of obvious okay um gold say strong as well so no need to look for for yourselves at the moment unless unless the EUR start to show up some weakness right here okay that's the one that's the one so no need to um no need to sell now no need to sell now okay three minutes Market recap so you're strong gold strong right that's the lesson and for now at the moment Euro strong gold strong euro is still pushing but but but but but uh back in resistance back in our next layer of resistance you might think what is this weird chart like what is this what what are we doing here this is a custom formula that shows you the Euro against all the other currencies the major currencies okay so we have the Euro against the British pound we have the Euro against the dollar the Euro against the New Zealand dollar the euro against the Canadian dollar the Euro against the Australian dollar the Euro against the Swiss frank we put them all together we put them all together and we divide them by six and then we get a formula and that then includes this chart which is our custom basket our custom Euro index so if the Euro outperforms all these other currencies and there is a positive correlation with with gold then there is no need to sell gold makes sense type in yes if you get it here right now we have the open in around what 30 seconds so we have the US Open here are they going to drive C up right now you have to understand that yes on spot we are pushing aggressively on Futures we are still below the previous highs the previous highs right there okay we're still below the previous high so let's check out what the euro is going to do today today is the day of the Euro Leno can you cut and paste that index on the Euro baskets you created yes I have all the baskets for you if you want it and if you wanted you can get it uh just get into our Discord get into the um General uh just get into the Traders chat and then I'll share the link with you right there and then you got it and then you can integrate this and then you have the the basket of baskets right there the basket of baskets you click on it then you import it okay it's um easy stuff now if you don't have a premium or essential package on trading view you will not be able to see the lower time frames it's not always a problem though you can always look at the daily as wellum right you can also look at the daily time frame sometimes as well here so currently dollar is at support the Euro the euro is pushing is not stopping for now and that means that gold will uh will hold up are already into gold we took a trade right at the beginning of the stream price we took a short price shoot up against us and then it came down aggressively with us and now we're back up again so um some volatility today let's see what the big boys are thinking it's pretty obvious if the Euro keeps piling in and starts really going and breaking out of that Trend that we were drawing then uh yeah this is going to end up being a strong bounce of the Euro and it's funny because we're talking about an interest rate rate cut so everyone expects the euro to be extremely weak and then the news comes out and what does the Euro do the Euro shoots to the upside so again once the dollar is going to do the interest rate cut as well you know always take it with a grain of salt never expect it just to drop automatically because it's the interest rate uh raate cut it might as well not drop and push up further so yeah uh important important stuff I'm going to stick on a future chart guys for now I need to keep a close eye on a future chart here um but but but but on Futures we are unable to break the heist we're unable to break it we're unable to close it or close above it at least for now so that's why I am much more interested in the Futures now than on spot and this will have an impact on this chart right here that you can see as well here so yes sir why do you want to sell respect the trend well the thing about that is here is you know yes respect the trend I I do agree with you you know respect the the the overall the overall trend here but we're in a Range man we've been ranging for a long long long period of time and for me personally different rules apply different rules apply when being in a Range being in a Range overall so what will be the closure what will be the confirmation so the confirmation is going to be the the the Futures chart unable to break and close above it the next stop Wick gets created the Euro will be unable to break this level of resistance starts also flipping bearish um and then I'll try then we'll try again then we'll try again why because we're we have still not closed buff the altime high of Futures and if you guys know it Futures drives spot in that manner um of course the most the Futures is centralized it it actually when it comes down to Forex and the spot chart right your Forex broker it's actually decentralized so you know it's a copy of a copy we call it so I high recommend you guys to sometimes also look at the uh the future chart as well dollar is ranging okay dollar is in a Range that's usually a good sign after a u a drop back in the range let's mark out the dollar here on the lower time frame I'm looking on a one minute time frame for the dollar for the Euro we are now in um in resistance right around there right around here okay so we are in resistance now with the Euro as well and um yeah like I said futur has been struggling so this looks like a strong break but Futures will confirm if we stay above and going to go for highs or lows here yeah today's a crazy day gold all over the place yes yeah one of these days my friend one of these days so what would you do in one of these days if you trade gold guys what is the best thing to do when you still trade gold around moments like these here give me a list give me a list of things that you might have to take consideration Marcus says if you look at the Delta of gold it's minus 3.3k on what time frame shout out to Marco by the way good to see you there we go alltime high is right there there we go yeah let's see what the chat is saying risk management yes lower risk yes I agree close the terminal comeb back tomorrow fair enough no stoploss full margin who my whole account red what are you looking for we're looking we're going to keep it very simple now right you can just see when gold is done all right we can see when gold is done you can kind of feel and see when gold has an exhaustion here and uh you know we're struggling to even close one C above the Futures alltime High here right so that is that is important now even this candle has not closed yet also on spot we still have 20 minutes left here we are pushing up we are pushing up um the dollar is in a Range the dollar is no longer uh coming down here we're just ranging on the lower time frame so we're keeping a close eye on the dollar but the most important thing I looking for is um the Futures chart the futur alltime high here Q&A / Which account type is good in vantage to trade 5 figures? Bruno says I want to deposit and trade with five figures on ventage which account would be the best for me if you trade with Vantage and you deposit at least how much you said five figures um I would yeah well it depends right if you trade with more than $5,000 I would suggest you take an ecn account anything below that uh I would say you know just take the standard account just take the standard account yeah or deposit a little bit less sign up with the Linker in the chat in the description and get your deposit bonus your 50% deposit bonus one time only for um for D here by clicking on this link you get an indones I get an Indonesian page you should get a an English page or whatever the case may be or wherever you from I'm In Indonesia so I will get an Indonesian page right The Bu Bahan Trading okay that okay that's what I get and as thep account for smaller Capital why because you know uh you don't want to pay a significant amount of commissions because yeah then you have to make that back and that's not going to really work in your favor Emanuel says it should consolidate at the highs before dropping and it's happening today the daily C has to be completely close bullish so anyways when we took the trade G who got out uh Unbreak even or made some profit in our in our group here in the chat oh that risk man you understand that risk management is is is critical right around these days here that includes not over risking being patient not being too stressed close close to trade out of stress no just chill just chill what are you looking for for gold FS well where we where do we close do we close above the alltime high here or do we close um you know below it this is the first hourly Ken closure that we're going to find and see here to be honest I'm really happy that we're finally getting out of it though uh I I I really like to see us getting out of this r range I mean we have been trading this range now for a couple weeks was a fun ride right we learned a lot in this range here with the community I do believe we really learned a lot of uh a lot of things like how to trade the internal ranges how to look at the internal uh structures how to uh you know manage um you know our positions and stuff all that stuff here internally like we learn a lot from a range here so for now next time when we are back in a Range again we know exactly what type of approach we should participate for the live streams right and that is just by um really looking at the internal structures for us to just uh yeah to just make some uh money man to take more trades like that and make money and just predict the highs and lows and then you know the moment we break out of the trend or break out of the range we can you know we can resume kind of our bigger picture our bigger picture kind of way right and and when does it happen usually the day after because you have then a strong daily closure above here uh look at this daily Candle by the way I'm not sure if you guys are aware of it but look at his daily K on FX right there what do you guys see top do say still can't believe that witch was the Catalyst ax says zero support no button wig yes correct that's indeed the here so we we had to take it out today we had to take it out today okay today was the day H do you think it's time to sell Trade recap that's like what's your what's your reasoning like I want to hear your reasoning behind the sell here what is your reasoning cuz it's like it feels like it's just a bit too random like the reasoning of our initial cell was we swiped out the previous daily High We anticipated a fake move before the ECB to Ru over that was our thought process right didn't work out we we ended up breaking even when price came to our entry but that is the top process what is the top process now for SS in your opinion then if you say should we sell here then what is the reasoning okay because in my opinion there is no reasoning to sell at this particular moment okay I think that um that makes a lot of sense there is nothing here why here and why not here why not here why not here and guess what there is nothing there to refer back to there is nothing there to refer back to beat F say reason overb Market no reaction dollar and bad month or LS I agree but then there is one more layer and that's called timing right you can be correct about your analysis and saying that the dollar or gold is going to come down at some point but then the question is when is it coming down the timing of it and you want to get closer and closer to the timing so you can decide I'm going to just enter a sell now and I'm just going to you know sit on my hands and take the risk here at this moment and wait to see if he can come back down and hope for the best or uh you know we we need to wait for some sort of confirmation in order for us to say okay it's uh it's worth it and I accept the fact that I'm not predicting the top here that's just the top process as well the timing becomes supp nuk says sell now and uninstall meta trater you know I I tell you something I tell you something while we're ring here uh let me quickly uh get this trade taken here we never use it anymore I don't know why Fun Fact there we go did you know that the most profitable Traders profitable retail traders in the world and I quote if I can find it and I quote accounts that had done the best were the accounts of people who forgot they had an account that's that's the reality of what we're doing here J guys that forgot that they had an account they actually they actually the best statistically speaking spoken sat and forget sat and forget I I'm a big fan of that I do like it okay so so it's all about the dollar again you can see clearly that on the dollar side of things right now at the moment um we're in a Range we're no longer tanking all right so that means the dollar is finding somewhat of its support here gold is still doing its thing here euro is still holding up uh even though we're uh you know we're you know we're seeing quite a reaction here we're still moving up and uh in 10 minutes we have the hourly close your so as our gold is boring let's do the now Z you guys want to look at it I mean we can if you want to okay [Music] Market recap Rus says bar is September yes so so far looking very good here but we have we have still a long month ahead of us here for gold we have the interestate decision for um for the dollar the fomc which is going to be uh very important maybe one of the most important uh you know changes in the economy so yeah no this is uh is this means in my opinion um nothing yet nothing yet but at least we're out of the range at least we're out of the range this took a month for us to break out here a says I sold at 2527 uh I think that we sold there too before right we sold there too yeah we sold there too we sold there price came up price came back down it came back down to 2521 and that was it and that was it then it came up again so yeah important not not not to get to greedy man okay check the NASDAQ okay let's check the nas then right let's do it let's check out Nas and Q uh what do we had there we had this uh oh yeah the 4our trend major resistance going to be at the uh fixed of course 19,400 I still think we're holding up very strong it looks like yeah it's going to drop right but then it doesn't you will see you see this happening all the time holding up here and then it boom it breaks the be cautious with selling uh if you do break below though um and you close below the 19,21 I mean that looks that that's pretty decent but for now this could easily flip to support and then make people believe that this trend line is going to be a rejection play and then we just do the opposite and we break them so yeah uh critical levels are sitting at 19,000 4 19580 these two levels are uh are the major levels that I would look for same range expansion break retest we saw the previous rejection from that zone uh from this high right there and now we're talking internal internal range so you know at this dick mode I think that you are are going to see something like like this if you take out the Sunday open and we look at the previous weekly data then we have indeed the previous weekly V high so this is the previous weekly V high and we're flipping that into support right now so that means we're in between two levels that are critical here uh a critical queen level of support on the 4our time frame but also uh that Trend there so you're now kind of hovering in between here uh know it's kind of it's setting up for a breakout then that's what I that that's kind of what I'm in thinking here unless we start breaking down and we close below it on the 1 hour or the 30 minute time frame let's say we close below it on the 30 minute time frame I'm willing to sell it down but as long as we stay above it um then this this still signifies Tren uh strength for the NES so yeah we can keep close eyland for sure Anda says leave gold Sals today we took sales before um we tried to take cells before so you can see right now that um that it's it's still holding up very strong so you know we're above now the Futures alltime High we're above the the spot alltime High we're looking very strong here dollar is indeed slowing down so that's good but the volume is kind of dying right now as well you can kind of see this so with we didn't lose money so that's good we kept our profits in our pocket from yesterday LTA Community Testimonials you can check out some T testimonials of the VIP yeah our VIP is closed though so we are we don't allow any guys in our group right now at the moment okay so we are fully closed but yeah it's still great to see what's currently Happening Here I love it man for those of you still unsure of LTI testified is the best but only when you put in the work and time and dedicate yourself to the process no matter how smart you are it might take less or more time but the result will eventually show I want to show you some of my trades in the past week my biggest ever using LTA netted me 1K in profit and I was able to maintain a 100% win rate for the last four trading days to make a total of 2.4k which to me is unbelievable this was taken on my fun account I also passed it in three days this is undeniable the best group ever made thank you man wow let's see love it keeping your risk small I can see it already beautiful beautiful congratulations man congratulations al man incredible well done I'm very proud of you my friend f it next profit split another beautiful confirmation another beautiful payout from one of our members in our group so if you're interested in trading with f next and doing a challenge and pishing your challenge and uh and cashing out so you don't have to utilize your own money then what you can do is uh you can sign up here with the link in description to get an 8% discount when you type in Limitless eight Limitless eight and um another beautiful thing here so go to for the next here click on the link type in Limitless eight and another beautiful thing that we have today guys we are the official sponsors with Limitless right now of our own um you know boxing Sports Gym all right really awesome really awesome so we're building the gym right now and as you guys can see beautifully we are sparring here every day every week I could better say we're trading there every every day we have our own gym right there with our Limitless printed beautifully on the ring and we're going to put this one on the wall and we're paying the pro Fighters the sponsored professional fighters in our kind of community and we're uh we're betting on some horses we're betting on some potential Giants some future Champs okay so yeah we're doing some serious stuff outside of this streaming game and the best way to give back to to the country where I currently reside that's Indonesia uh is of course by doing something in return and uh in this seemed my best fit right there so that's pretty pretty epic man that's pretty dope that's pretty dope does f next accept us clients uh I am not sure I am not sure I do not think so I do not think so I think that you should mainly stick with Futures if that's the uh if that's the case Alis say don't trade right now be patient 3D says don't sell guys gold is the master of franking I agree I agree I agree I agree we had our chance we took a cell before that was a um a potential scenario we uh managed to um get out risk-free and uh obviously we came back up so yeah I don't see any sells now at the moment here today's giveaway day today is giveaway day gz I forgot to tell you guys but that's actually the the yeah that's that's you're right you're right you're right you're right you're right today's uh it's giveaway day says imagine if he held the cell that would have been uh that would have been I don't know not as good that would have hurt a little bit I mean in the end our risk was uh not overwhelming so we would not uh you know blow our account I cannot even blow my account with TOP Step there is a limit you can lose on a day but anyways you don't want to do that you don't want to you don't want to hit your max loss limit your max daily loss so you get locked out of your account for for the rest of the day here you don't want that so um I mean yeah Market recap yeah for the NASDAQ NASDAQ is also holding support here there's just no less volume right now the press conference kind of I think the breast comence is finished there we go prast comence is finished and you see that the volume started to um to come down here so I'm going to give it like what 20 25 50 minutes 20 minutes and then um you know we'll see if there is enough volume still to catch up here or if that was just the move of today and at tomorrow the the the final day here will be determined if gold is going to indeed create another ultim high or if uh gold does what gold does best and that is a reversing reversing down top stack Max L limit is gone right now I have no idea if it's gone actually I even don't know if it's gone what I do know is that you can set your um you can set your risk settings manually okay quickly go over yesterday's trade yesterday we had two trades actually all right so there were two two different setups here we anticipated the reversal that was uh that was yesterday so we had two different trades that we uh we took here but I think we were stuck we were stuck in position for uh I don't know how long 2 hours 2 and a half hours three hours no two and a half hours at least two and a half hours and it looked good at least it looked very good and then it started to look worse we started to come down um and then in the end indeed we managed to continue to drive at the end we started to go go go go go go up and you can see that consolidation was setting up for a uh for a reversal it just took some time it just took some time yesterday that's all it took some time so patience man sometimes has the better way the better way yeah so far it's holding up NASDAQ as well is is looking flat completely Q&A / Why is trading at an all time high difficult? flat why is ultim high trading Al always so hard to trade well number one you don't have uh information to refer back to and secondary there is a lot of manipulation happening around these these alltime highs here so you know we just have witness now for the first time this hourly candle closure it's the first time we actually see now candle closing above a strong candle closing above here on Futures and on U on spot here so yeah we can definitely confirm now that we have officially broken out and closed above it so that signifies um you a lot of strength the dollar is flooding and out and while the dollar is flattening out uh gold is still going up so still uh still looking pretty decent right there at the same time the euro is um doing the same thing it's uh just uh holding up holding upo let's go through one minute let's see what the moment is doing here Checking out Nasdaq , Potential setup Mario says nask is going to flush down today yeah that that might be a setup that might be a setup um you know somewhat of a closure below the previous um the previous week fa High we call this an entry model for play so if we see something like this where you tap another candle here you hold here and then the next candle creates a top wig and it flushes down Then I then that's indeed a potential um that's indeed a short play that would mean you enter a short um you know when it breaks you enter short when it breaks stops go of course above the candles above the previous candle wick so the current week that breaks the kle and then you target uh yeah you target the lower price level like the 19,90 86 so yeah that that's definitely a level that I would say Okay if that if if you can break that and we set in a top wick on this um next candle then we have our em4 play to the downside but for now it's holding up above support so there's no confirmation yet and um yeah in the 4 Hour you can kind of see that you know we have that trend line rejection but at the same time that doesn't mean much because you know we're also forming support to uh so yeah definitely set an alert I'm definitely going to set an alert here for for the NASDAQ why would you look for sales for gold well the thing about this is we talked about the book map right and we talked about the levels that are below that can can work as these type of magnets and um and currently we cannot see somewhat of a big order here there there's nothing nothing below there is literally nothing below there is only you could say liquidity built above here orders placed above here nothing below but the moment a strong big massive order pops up on this thing somewhere down we might have um something interesting to take consideration yeah unless unless you want to sculp it but we have we kind of have to stick to our approach of today but unless you want to sculp it by waiting for this range to break down pull back and sell off back to the AL High you know that's the uh that's the only way if you're going to look for gold now but the better confirmations are going to be of course when you pull back below the AL High itself Jamie says dvo blew account again yesterday in an hour he's a scammer in a very bad emotional Traer so how do you know that how do you know that how do you know that I I didn't hear him I I don't know curious to uh to how you got that information I am in the me okay it seems like you're not on Twitter Lorenzo which is good for you you don't need trading drama I mean people try to get me involved you know I see these manions coming up sometimes here uh who knows man maybe I'm going to be a Twitter a Twitter guy later on who knows all right baby okay Market recap Euro slowing down we talked about the Euro weaker if the Euro gets weaker gold gets weaker if the Euro gets weaker gold gets weaker that means the dollar gets stronger dollar stronger Euro weaker gold weaker nothing too fancy though but anyways Jamie says he blew 95% two weeks ago made 120% last week and with the remaining 5% with the remaining 5% and then blew it all again yesterday in an hour I don't know what's going on man I really don't know what is going on there I really know what's going on okay now pushing so if this flips beish I am Nasdaq Potential setup definitely shooting that just so you guys know if we flip beish here I'm definitely shorting it back down that's uh that's the nas get a nut I have an alert set I have an alert set so we will we will get notified if that's the case if the NASDAQ breaks this low I am shorting it in what time was giveway we're going to do it soon man yeah let's just do it soon all right euro is starting to slow down which is good after the event here we were unable to break this uh this resistance this is also going to be good for the dollar the dollar was uh was chilling right now the dollar is going to you know potentially give us that that tool you have that break you're still in the range dollar is still in the range here so you know we're trading above alltime high for gold now at the moment you can see here this is just a shortterm pullback a shter pullback for for gter um and that's practically uh that's practically it take out 25 46 here a quick scope maybe what about what about a quick scope last time he said September is bearish for gold yes sir the month is not finished yet though we're just we're just getting started Market expectations yeah if we can pull back and we get rejected here I I might be willing to see if he can um if he can take a little sculp here little sculp in between why not little sculp the reason why is um the dollar is holding up clean in that range here the Euro right now currently is in um is in that rejection mode and I like to see that from the Euro being rejected or getting rejected to 130 so that's good um do expect gold to still bounce up potentially here and um yeah man let's see if you can then break and reflip let's see on the lower time frame back to the Tim high so that means just a simple retest uh I think that the volume is slowing down think slowing down in general we also have kind of our 30 minute closure here which is in 10 minutes which is then an indecisive um DOI so if you can uh utilize this then this might cause a shortterm pullback I'm not saying it's going to come down all the way but I'm you know um you know we might be we might are able to just take a little bit of a shortterm uh push down here if the dollar indeed decides to hold up and the Euro decides to uh to reject fully the best confirmation is going to be if um this futur chart closes uh below this level so the 2570 for futures because right now the reason why you're pulling back on spot here the reason why you're pulling back is because of the fact that um futures is actually bouncing from the lows here from that uh from that support let's see if we can close below the 2570 on Futures that would be really nice and then if you then rebre the lows I think then we have pretty good uh confirmation so that would mean something like this um where break the Loy cam unless futes comes up uh or comes down and breaks down and um and gold is still hovering around these levels but as you can see now on on on Futures itself this looks like just a bounce so you want to see breakdown because we're literally bouncing from support from the alltime high yeah you kind of your you j h effect is dvo [ __ ] this again he took every everyone's money in the map so didn't like I I'm super confused man I have I don't know what I really don't know what to say I'm a bit uh confused why and how and how it works and the ma and then this and then no commun and communication I I I really don't know that's why that's why that's why that's why The importance of keeping an eye on Futures chart here you see you see how important it is to to to keep a close eye on the Futures chart as well because if you just see this if you look at this this overall structure you think oh yeah this is a clean cell right now right it's coming down and a guy starts selling here but what you then see on futures you're actually tapping into this support so you're actually tapping into alltime high support right this is the AL high on Futures on the future chart and you tapped into it and that's on the five minutes what you can see here tapping into the Futures chart right there now a good confirmation is then if you can close below that B nasac is also hanging around but uh yeah if you do break the lows I'm I'm definitely I'm definitely would short that definitely will be uh interesed in shorting it let's see if we can establish a new push down here and give us a nice closure in four minutes 5 minutes last 5 minute candle 50-minute candle 30 minute candle below the open below the Futures alltime High then we have something nice here potentially fix PC is respected yeah if it can close below here that would be very that would be very good but Q&A / Is the Volume profile indicator your favourite tool? is the volume indicator your number one favorite to yes yeah the volume profile indicator is by far my favorite tool for for day trading sculping um due to the fact that you create ranges out of ranges come levels out of levels come opportunities and you can see over and over again I don't have to prove it any longer like how precise these levels actually are and do work work and if you can build a strategy around that you have something fantastic and especially when gold is in a big range how many times did you use these levels here uh correctly when price pulled back sold off pulled back went up yesterday was a great example we uh you know we definitely utilize this a lot so yes still pushing up right and the reason why is because gold is holding that support on futures this what I'm talking about so this is the future's alumn high this is now where we bounced from so this this level is where we kind of broke above it you're now slowing down at least on the lower time frame you can see now that we're we're pinning out here we topped out we set in a top Wick and we're pulling back and on the 50 minutes you can see now that we came back and we we were now retesting this low and if you're holding about that low then gold is just going to do this so you can sell but the confirmation will remain the same if you break below it you have the confirmation of the price actually breaking down LTA concepts E-Book does the volume profile Line work as supporter resistance yes you could say so I would recommend you to download the ebook click on the Linker uh in description the first link you see underneath Rite me a free copy and then you will have access to your to the ebook where we have explained everything in depth everything in depth explained you will find the ebook right there okay it looks like this it's a 74 Pages big we're going to release a second version and that will include a lot more things that we have been working on in the back so if this is the first edition then you know what's coming next right you understand that we're uh we're always innovating we're always improving we're always making things um more precise and uh yeah a lot of work gr need to this one can you imagine what the next version will do or will bring to the table all free no cost nothing what are we going to do today with the V with the giveaway yeah we're going to give ACC to our VIP today yeah we are closed so you cannot buy it or something like that so you know we're we're going to give exclusive access right now to our VIP that's going to be today next week funded accounts potentially again so you see that right that's why you see this gold holding support here so yeah sell sell sell well gold is holding support above Futures alltime highs here so you might as well continue to drive up right that's the top process behind it the confirmation lays within this breaking down first all right then we can talk about the the spread between spot and Futures the spread between spot and Futures is the following this is the alltime high for SP spot that's this high right here 2531 2532 right so we're talking about a massive gap between the altime high and between this expansion on Futures right now we are literally at support we're at support you can see that right there we're at support right now from the altime high at 2570 different price same moves right different pricing same moves here slightly different structure right now same structure right so it's very important that if Futures is in support and we don't force a a short here we don't force a short here would give us a lot of headache a lot of drama right there and I can guarantee you a lot of guys were were entering cells and what's going on we're pushing back up again why because futters is showing us that we're holding that we're holding on does it mean we can still break down yes we can but why not just wait for that break first and then capitalize on the spread between the altime high of gold spot what we all trade and the break of gold futures they go hand in hand hand in hand with each other Market recap and there we go we're pushing up so that's no surprise to me no surprise to me the the top was behind a short was if we break below here and we actually break close down below on the 5 minute or 50 minute I don't need like an hourly closure below I just needed like a 5 minute or 50 minute closure below that's it then we most likely would have broken this low right here right there and then we could take it down towards the previous ultim right the [Music] 2531 so right now clearly we're doing the uh we're holding up did you have a mentor for trading were they did you have any general mentors outside of trading I had a guy in my in Bali that I learned from a lot years ago um yeah fantastic guy learned a lot from him he actually introduced to me the V Prof file so that was really great but when it comes down to these these guys online I would suggest to to really learn from Larry Williams um he's definitely one of my favorites like in a very short period of time I realized this this is the guy this is the guy Mr Larry 83 years old excellent guy excellent excellent now it's not coming down huh a little bit let's see let's see if this is just a fake move consolidation um manipulation expansion who knows let's see let's see but yeah spot is futurs is holding futurs seems to be holding here and it's just holding that uh that Trend you see that that five minute Trend and that's why gold is pushing up so all the guys that were're selling in the chat sell now sell now sell now that is going to be an issue sometimes you need to be patient and I agree sometimes you you don't have to be patient it's a sweet balance it's a sweet balance I agree with you it doesn't always have to be patience patience patience but it just depends on the situation yeah when is the giveaway yeah we're going to do a giveaway man a 15K F the next account we're in a good mood here all right we are uh we're we're still looking good we managed to close our trade uh risk free that was good so we are in a good mood here let's do a 50k account f up next and a VIP membership exclusive access to our group when we close out yeah crosses what to do if I sort yeah it's right now um because we don't know how long and strong we're holding here clearly we we found some resistance around the 2579 on futur so that's going to be now clearly we have some resistance now sitting around the maybe the 2551 but we'll see we'll see if this high will will give us something but um yeah this was a trap this was a cell trap a short trap too bad though I would have loved to see price coming down breaking black below and then a close below it then I definitely shorted it definitely shorted it from there Rose says wait for futures to go to 2600 and a big cell pullback well we'll take that in consideration we'll take that in Q&A / How do you trade Gold when it's trending? consideration Sam says I just started to watch you before three weeks I would like to know how you trade gold when it's trending and not ranging when it's trending man we'll we'll take over we'll clean up will clean up when it's uh trending our biggest win stre always comes from uh from trending markets for sure when we're choppy in a Range we're we're we're doing we're doing good we hav't adapted we adapted quite well this month I have to say but yeah know when we're training we're we're cleaning up baby seems pretty trending to me yeah maybe on the lower time frame but um you know no what he means is like the actual actual push to the upside here the actual Trend push right now and now we're looking uh looking to get there right it depends on how we close here on the daily like there are all kinds of different layers that are going to give us that confirmation but yeah in a trend we clean up that's for sure CU then it's just previous daily high oh s previous daily p see previous daily very high pullback cont inovation then we look at the internal range of the London and Asian session and we might manipulate the lows and then look for buys it's it's just perfect man it's just perfect J says September is great so far yeah it's it's it's not bad not bad even the range we uh we found our our our kind of our second second strategy so if we have a trending Market we know how to trade this we stick usually on the 30 minute time frame when we're in a Range we're usually playing on the lower time frames and um yeah sticking with the internal structures yeah but yeah that that's why shorty was very uh was very tricky and I was very close to it but if the if the future chart doesn't close or break below here there was no there was no way to was there was no reason to short and the only the reason why this is so important for you maybe to take consideration also next time is when you see price pulling down pulling back and on spot you don't see much of like support here you think oh this is going to be a freef fall then also take always the future chart in consideration because it might not look the same and that's important okay ah beautiful G got a new message here from uh our coach look at that look at this officially it was officially done and now it's hanging there man nice yo Global Limitless Global gz Limitless GL Global that looks awesome that looks epic time to record some podcasts right in our boxing gym right in our boxing gym so if you're interested in coming to Bali and you want to train with us come to Bali Indonesia join our gym come to our gym and start training with us in the Limitless boxing gym Lions MMA you'll find it you'll find it right there it's epic epic that's really dope I'm really happy about that that's really cool okay man he just let's do the giveaway okay let's do the giveaway right now at the moment I think that Futures is holding up it's doing its best to hold up gold as well this was a a trap a cell trap okay so there are definitely no clear clean cells right now in the market uh GIVEAWAY!!! at this particular moment you can see that right there right so let's do the giveaway let's set it up um Thursday is our giveaway day right we always give away something back to Community here what we're doing what we tend to do a lot is um we um we tend to do the following and that is all the YouTube earnings and all that stuff right there we we just try to do and give something back because we don't need that [ __ ] we don't need that [ __ ] okay so let's set it up and um yeah it was worth to try though it was worth to trade though it was worth to try and in regards to the trade itself I mean uh you know as long as we got out uh risk free without any uh draw down any loss then uh you know it's all good then the trade from yesterday is still is still there and um yeah I would have loved to short it if it closed below but we didn't so we're just pushing further uh and it is might as well continue to drive up as well here on a simple five minute Trend but um you know how far we don't know I it's hard to measure risk uh risk to reward to so yeah let's set up the giveaway man let's get you guys involved here how can you join you need to like this uh video you need to subscribe to the channel number one um we start off with what we start off with the uh with the VIP right now at the moment all right this is what we are uh what we're doing here so what you can do uh is you can join us right now uh we are currently close you can join the waiting list okay we have been closed right now we have accident we have got a lot of guys in our group joining you know ourselves we have the trading floor the live trading floor where we actually take trades Together live consistently with the team we have our man Kell Marco Jolene we have a couple guys like Mike like Jonathan streaming every single day and we're all trading the same system that's why we like it so much all right then of course we have the actual course itself it's all all in the community's integrated as well here and um besides that in Q4 we're going to release some cool stuff so Q4 we're taking things back here we're taking it a little bit on a slow pace right now because it's summer we're we're literally at the verge of ending the summer here so we're heading into Q4 so yeah once we're going to open up you will get notified by signing up to the waiting list but you can win it today all right you can still get in right now so in order to do that type in uh LTA VIP and then after that we do fun it next we give away a challenge as well a fun it next challenge all right let's type it in my G one time here yes sir yeah yeah there we go it was a big trap for the sellers there all right let's get you guys involved all right we are close so we do not allow anyone to get into our group so you can get in regardless and let's draw it right now let's uh don't hold you guys up any longer let's go [Music] boom Mr Kobe Mr Kobe if you um if you're here my friend then you won let me know if you're here then we're going to get another one involved here we're going to do the fun the next giveaway as well a funded challenge all right looking forward to uh to share that with you guys if you go here you need to sign up with fun next you make an account here if you win the challenge you can always decide to not take it right away and rush into it you can always decide to do a trial first to get familiar with the platform and then once you have done the trial okay you can click on start the challenge but because you're already won you might can use the challenge that you want all right but I highly recommend that if you're new and you're not as familiar with the platform yet to take a free trial first so take a free trial first start a challenge and then decide which you can do here we're going to give away a 15K account right now it's a great way to get started right you can decide what you want to do here the one step or two step your risk parameters here what does it mean one step or two step two step means that you have to pass it in two times one step obviously means that you can pause your challenge in one time living on a riskier side here but that means quicker potential payouts but you need to be a g to get this done here uh otherwise just take the two step okay take it slow take it steady it's not about the money at the beginning it's about the process all right type in fun it next this doesn't work if you're from the United States due to the regulations in regards to the U meta quotes but um for the rest of the world I believe it is uh not an issue fantastic all right let's do it quickly all right foot is right there boom boom Mr claro Collins congratulations congratulations congratulations you won as well here both of you guys we got you notified and noticed here so what you need to do is you need to open a customer support ticket in our Discord server so you need to join our Discord server and then go down scroll down open a customer support ticket and it should be all good from there all right we'll uh we'll we'll hook you up my friend we'll hook you up thank you very much all right perfect that would have been uh that would have been nice that would have been good now in regards to the next ones guys don't worry about it um you can either sign up yourself or you wait for next week because we're going to keep doing this Q&A / What is the best sell setup for Gold? over and over and over again here what is the best sell for good in my opinion the best sell for gold would be if we manag to close and break down below the gold Futures alltime High which is 2570 on Futures if we close below that then I think that there is chance of a pullback further down again back into the range okay 2570 why is that an important level that's the alltime high on Futures so how do you find the futur chart you type in GC you click on it you get this chart right there okay GC click on it you get the chart and then you know that this is the ultime higher 2570 and then automatically you will see when it closes below that gold might as well just break and closes below the 2543 and I think if you do this right there and and if Futures does this right there and it closes below the altime high that you could come back towards the gold spot altime High which is at 2532 so that would be a a nice trade I believe a safer confirmation short trade from 2543 to 2531 something like that which could include or benefit a 100 pit move to the downside when you get that confirmation and I do believe we're quite a line here I do believe that you want to see that break and closure below the 2570 on the 15 minute if you're close to the 30 minute even better and then you can take it down I think that's a nice positioning for price to roll back close below and sell continuation back to the all high on spot which then breaks the future's alltime high and potentially also pulls back into the range until then no shorts no shorts no shorts you saw what happen previously right when guys were saying in the chat shorts short short here we actually did the opposite why because we held support we didn't break support we held support okay hope that makes sense so yeah we can sit there and wait for it or you just wait for that confirmation but right there waiting for that break waiting for that closure and then taking it back down and then who knows we might even break the lower uh sections here for now as long as we stay above here on Futures there is no short that we could take in consideration you can only look for upside and you never know when you're in an alltime high how far you can go how far you can take it all right Stream summary anyways we took a trade today yesterday we um you know we're up still we managed to close out we learned a valuable lesson here is never to risk too much you you should be able to handle some draw down as well sometimes during moments like these all right when we're talking about alltime high we're talking about the EB interest rate decision the PPI the initial job claims everything came together of course you understand why you want to be able to handle some draw down sometimes you saw the prize pull back beautifully and uh you know an easy exit easy exit right there okay tomorrow final day of the week let's close the week's strong and let's see that if tomorrow on a Friday is that typical typical reversal day or if it's indeed um cont evation play knows number one the question to ask is where do we close the daily candle are we closing the daily candle above the Alm high or below the altime high we'll find out in around 6 hours from now where we close that doesn't mean you cannot take a short here by the way if you get the confirmation on Futures already that doesn't mean you can take a small short right there from 2543 to 2532 but the daily closure is important because you can easily just fall back below the range uh the last hours and be in a Range again and then the highs are taken out and if the highs are taken out you know it the only way prob potentially from like a probability standpoint is down okay but for now we're holding up very strong so you know exactly exactly what the confirmations are you need to look at before looking at any you know any particular any particular s from that standpoint all right I hope that makes sense this and uh you know a lot of beautiful lessons today we managed how we we learned how to manage risk how to not over risk how to be anticipated and how to not get stressed when being in a u in a nasty Goodbye position all right tomorrow man last day of the week I looking forward to see you congratulations to all the winners and next week we're going to do it again and then next week is going to be the last week I'm streaming because after that I'm going to take a little break a little holiday all right your boy has to travel and has to do some stuff around the globe okay thank you guys so much take care [Music] whoa and uh man I wish you a fantastic rest of your day I hope you survived crazy day but uh we're kind of used to it now right we're kind of used to it and we're getting better we're getting a little bit better every month all right that's all that matters take care see you tomorrow bye-bye ciao guys thank you so much [Music] [Applause] [Music] oh [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] a [Music] [Music] a [Music] n [Music] [Applause] [Music] he [Music] [Applause] [Music] [Applause] [Music]