Ms Izzy Trades

Ms Izzy Trades

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Ms Izzy Trades
Ms Izzy Trades
Multi-Flips and Price Importance

Multi-Flips and Price Importance

BOC Rate Statement and Monetary Policy Report

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Izzy
Oct 20, 2024
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Ms Izzy Trades
Ms Izzy Trades
Multi-Flips and Price Importance
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Good afternoon!

We’re coming near the end of the month and this is quite important as we enter the wider range bars of potential exhaustion or continuation. As I mentioned last week, there was a great deal of importance between October 15th-17th, specifically in terms of price being met. The theme was potentially a slower, calmer week, with a slow down in events and catalyst. This could mean potentially slight expansions to the upside but overall range-bound. “This can imply continuation or slight consolidation as there isn’t a whole lot to of pressure to push price downwards.”

Since we had met our minimum conditions the week prior on October 9th, at 5799.25/5800.25, this extends us until October 23rd. We also continued to avoid back-testing the channel that we have yet to digest (5833-5838-5848), which implied continuation to the upside. As we know, if that channel area is tested, high odds it’ll get swept back down to the zone (5788-5806-5812-5822). And since we had met the condition of price meeting 5852-5866 area, odds remained high for core breaks by October 23rd, under the condition that a MINIMUM of 5910.50-5912 would be met by October 15th/17th, with 5922-5923 being core and 5931-5936 area being the most ideal. We met the minimum condition of 5910-5912 on October 15th and then stalled at 5927.25, on October 17th. This helped extend our odds through month-end, since 5922-5923 was met, but left a tiny bit more room on that upside which is where volatility can arise. So what does this mean for us this week?

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