Trading Edges That Last
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Lawrence's Comment Recap Y-1 did not hold, Range expansion kicked in with Y-3 target tagged quickly. Y-3 rejected with Y-1 cleared with a gap. Y-0 capped the run and force a drop ...READ MORELawrence's Comment Recap As expected, the pair moved above Y+1 quickly. The nice surprise was that the strength of the run not only carry the pair higher to Y+3 (normal breakout target) ...READ MORELawrence's Comment Recap Y-0 acted as support in the beginning of the week. Set the stage to challenge Y+1. 2nd swing took out Y+1 and Y+2. Closed above Y+1. Outlook As long as ...READ MOREDow 30 Aug 07 to Aug 11 OutlookWeekly Cycle Projection (USDCAD) 2015-04-13USDJPY Feb 28 to Mar 04 OutlookUSDCAD Mar 12 to Mar 16 OutlookEURUSD Apr 09 to Apr 13 OutlookS&P 500 Jan 12 to Jan 16 OutlookUSDCAD Feb 25 to Mar 01 OutlookUSDJPY May 23 to May 27 OutlookHot n Cold (USDCAD) 2023-2-10Nasdaq 100 Jun 29 to Jul 03 Outlook
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USDCAD Sep 30 to Oct 04 Outlook
Lawrence’s Comment
Loonie managed to get to Y+1 by drifting slowing. It was immediately rejected. Closed the week at midpoint and above Y-0.
Outlook
It has weaknesses written all over. The slow up channel once broken to the downside points to at least a test of Y-0 and B-2 should be tagged too. This drop does not imply a selloff to any lower price level though because Y-1 was rejected decisively.
Rare scenario is that a quick breakout above B+1 will result in a run to B+3 and B+4 in almost no time due to the parabolic pattern in place.
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