Trading Edges That Last
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Lawrence's Comment Recap Bullish scenario unfolded as Y+1 tagged first with Y-0 support leading to a run to Y+2. Option expiration Friday even jumped NQ to Y+3 by open yet failed to ...READ MORELawrence's Comment Recap Gapped down to Y-1 yet Y-1 did not act as resistance nor support. That told us higher timeframes (comparing to weekly) at work. NQ was the one that ...READ MORELawrence's Comment Recap Euro tried to hold Y-1 but failed to clear 1.13 and eventually failed to hold above 1.12. Tight range consolidation. Closed the week near Y-1 and below midpoint. ...READ MOREFor 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 scheduleREAD MORELawrence's Comment Recap Text book STOPD move on this pair again. Broken Y-1 first, meaning more downside is to be expected, then rallied back to the sell zone mentioned last ...READ MORELawrence's Comment Recap As expected, bulls tried hard right from the beginning of the week gapped Dow higher yet failed to turn around the established down trend. Dow dropped to Y-1 and ...READ MORENasdaq 100 Aug 18 to Aug 22 OutlookS&P 500 May 30 to Jun 03 Outlook3DP Odds Table (AUDUSD) 2023-05-023DP Odds Table (AUDUSD) 2021-09-02Intraday Cycle Projection (AUDUSD) 2013-04-26EURUSD Sep 07 to Sep 11 OutlookUSDJPY Feb 13 to Feb 17 OutlookPrecog Vision – Forex 2012-3-8EURUSD Feb 14 to Feb 18 OutlookDow 30 Oct 13 to Oct 17 Outlook
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AUDUSD May 21 to May 25 Outlook
Lawrence’s Comment
No quick drop and bounce. Just slow motion selloff all the way. Paused at Y-2 but failed to bounce at all. Ended the week after tagging Y-3 and closed near week low.
Outlook
We are seeing a very rare type of breakdown selloff where longs do not give up at all at every lower support level. Everyone is trying to trade out of the drop (i.e. averaging down). This is not a good sign.
Long term basis I will not be comfortable going long until after Aussie can find support around 1.0 area.
For next week, a bounce points to a test of B-0 and failing to clear that points to B-2 in play.
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