Recap Cable trapped in 50% previous week range after the outside week reversal. It is normal to have consolidation after range expasion move and it did. Cable drifted back towards Y-0 from 1-2-3 buy off Y-1 on 4 hours. Closed the week below Y-0 and above midpoint.
Outlook Staged a test of Y-0 and above early next week. If this push can go as high as B+2 and stay above B+1, the swing top setup will be invalidated.
If the push higher follows by immediate selloff breaking below B-0, we have a good setup to ride down to B-2 as a minimum.
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
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
Lawrence's Comment
Recap
Test of Y+1 led to clean drop to below Y-0 triggering Y-1 target. Y-0 acted as resistance since giving us Y-1 quickly and Y-2 eventually. Closed the week below ...
ContentReviewEuro StunnedS&P Seasonal Pullback StartedGold Stuck in CompressionBitcoin Existential Threat10-Year Note YCC ConfirmedBig Picture SummaryReviewEuro failed to even try to take out the channel mid above and broken down to ...
GBPUSD Jan 14 to Jan 18 Outlook
Lawrence’s Comment
Cable trapped in 50% previous week range after the outside week reversal. It is normal to have consolidation after range expasion move and it did. Cable drifted back towards Y-0 from 1-2-3 buy off Y-1 on 4 hours. Closed the week below Y-0 and above midpoint.
Outlook
Staged a test of Y-0 and above early next week. If this push can go as high as B+2 and stay above B+1, the swing top setup will be invalidated.
If the push higher follows by immediate selloff breaking below B-0, we have a good setup to ride down to B-2 as a minimum.
Share