Trading Edges That Last
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Lawrence's Comment Recap Consolidation around previous week close at 50% range. A rare normal breather since the beginning of this year. Closed the week below Y+1 and near midpoint. Outlook A marginal double top ...READ MORELawrence's Comment Recap FBO against B+1 gave as sell off down to 100% absolutely range expansion. Buying discovered there produced a short squeeze straight back up to Y+1 and above. Tagged Y+2 ...READ MOREPrecog Vision – Forex 2014-4-17Dow 30 Apr 30 to May 04 OutlookS&P 500 Feb 24 to Feb 28 Outlook3DP Odds Table (USDJPY) 2012-11-02USDJPY Sep 11 to Sep 15 OutlookHot n Cold (USDJPY) 2022-4-223DP Odds Table (USDJPY) 2012-12-05AUDUSD Dec 29 to Jan 02 OutlookUSDJPY Apr 24 to Apr 28 OutlookAUDUSD Mar 21 to Mar 25 Outlook
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Lawrence’s Comment
Ninja failed to clear Y+1 gave us a drop to Y-1. Ninja reacted to Y-1 but it failed to stop the drop right there. A bear flag on 4 hour was formed. Drifted back up to retest week high. Closed the week above Y-0 and midpoint.
Outlook
Since 120-121 has been the last significant topping zone on multi-year basis, there are many people who will react to the price level here. Thus, a sell off from here breaking B-1 is normal with B-3 target below.
That, however, would not change a thing about the weekly up trend. Just volatile reaction to the level. Until we see weekly level swing trend changes, ninja will continue to charge higher after every daily pullback.
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