The first thing in the beginning of a new week is looking at relative strength, the reason being: we may not have a clear picture of the monthly analysis. So to avoid the frustration if the monthly is not clear then relative strength will help.
And if we take the example of aussie for the monthly, then we hope it would fit the criteria of the weekly relative strength analysis as well
Go trough all the currencies and commidities, we’ll get trough the specifics later
We want to see what the commercials are doing
Notice how we have different things on the weekly then the monthly analysis, once we get to the weekly we start to look more at the opinions of others versus just technicals and we weigh them against the technicals strengths and weakness by way of the relative strength analysis, once we arrive at our watchlist and the COT hedging ideas, then we move to the market sentiment and get an idea of what eveyrone in the retail world is thinking ideally you want to do the opposite of what retail is thinking and doing. Then we look at what the weekly looks like in terms of market profiles, consolidation, trending or retracement
Start comparing what the weekly chart looks like in other correlated markets
Dollar vs kiwi for example
Then market structure, and at this point we want to start blending in the idea of institutional orderflow, downclose candles supporting price if bullish and upclose candles being broken, vice versa for downmoves.
Everything from the monthly on market structure applies, so the SMT still applies but now were going to start heavily looking for the institutional orderflow and institutional sponsorship by studying the orderflow
PD array matrix, we do the same thing as we did on the monthly chart
So everything that i would break down in terms of the range that is now defined on the weekly chart, any PD arrays that did not exist on the monthly chart may now be visible on the weekly chart
By having the PD array matrix defined we can start working towards calibrating our key price levels