Trading Edges That Last
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Lawrence's Comment Recap First half of the week playing out perfectly like a normal 50% range consolidation around Y-1. Then FOMC announcement changed everything. The upside breakout of the tight range gave ...READ MORELawrence's Comment Recap Consolidation week as expected. Flushed to Y-1 and bounced. Failed to hold above Y-0 gave us another chance for the retest. Flushed to close the open gap and bounced. ...READ MORELawrence's Comment Recap Easy trade of the week. Cleared resistance zone mentioned last week quickly. Tagged Y+3 target by end of week. Closed the week above Y+2 and midpoint. Outlook Wide range week with ...READ MORERecap of Last Week 1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely ...READ MORELawrence's Comment Recap Was looking for a break of Y-1 and then a slide down to Y-3. Did not happen. No clean break down. Just a consolidation week around Y-1. Closed the ...READ MOREWeekly Cycle Projection (GBPUSD) 2023-01-30Dow 30 Jun 23 to Jun 27 OutlookS&P 500 Mar 31 to Apr 04 OutlookNasdaq 100 Nov 06 to Nov 10 OutlookIntraday Cycle Projection (GBPUSD) 2019-09-18USDCAD Aug 04 to Aug 08 OutlookEURUSD Jan 3rd to Jan 7th OutlookUSDJPY May 16 to May 20 OutlookAUDUSD Jul 13 to Jul 17 OutlookEURUSD Apr 29 to May 03 Outlook
As Featured In
GBPUSD Dec 26 to Dec 30 Outlook
Lawrence’s Comment
Broken above the resistance zone mentioned last week, leading to immediate reversal to normal upside target of Y+2. Stalled from Y+2 and tried to stay above Y+1 but eventually failed. Closed the week below midpoint.
Outlook
The sudden reversal is again euro zone news driven. The weaknesses by end of week indicates Y+1 and above is strong resistance. Consolidation is expected during the last week of the year between Y+1 downto B-1.
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