Recap Bear flag on 4 hours broken to the down side gave us a nice drop to Y-0. Y-0 support led to a run for week high and then breakout clearing Y+1. Original bear flag turns into measured move. Closed the week above Y+1 and midpoint.
Outlook Measured move so far is just a bigger bear flag on daily. Until ninja properly form a bottom it is not as bullish as many suggested. A drop back down to B-0 is likely. A break down to B-1 is also likely.
Lawrence's Comment
Recap
No pullback, just consolidation in tight range around previous week close / high zone. NQ then took off with ES and Dow upon the non-resolution in Europe on Friday. ...
Lawrence's Comment
Recap
NQ failing to clear the open gap above earlier in the week confirmed NQ being the weakest among the indices. Downside target of Y-2 and Y-3 tagged in stair ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
USDJPY Oct 27 to Oct 31 Outlook
Lawrence’s Comment
Bear flag on 4 hours broken to the down side gave us a nice drop to Y-0. Y-0 support led to a run for week high and then breakout clearing Y+1. Original bear flag turns into measured move. Closed the week above Y+1 and midpoint.
Outlook
Measured move so far is just a bigger bear flag on daily. Until ninja properly form a bottom it is not as bullish as many suggested. A drop back down to B-0 is likely. A break down to B-1 is also likely.
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