Did not post a chart on this pair last week as it was not clear if we were having a spike and ledge or just a pause before running higher.
Then early in the week it became clear we had a spike and ledge and it failed to hold up. Shorting this pair was not hard as the 1-2-3 sell on 4 hour was very pronounced. The only concern at the time was that the week was about to wrap up in a day could it go all the way to break the current week low at the time.
It did and made up for the wait!
Next week outlook
A bounce from last week low/close should not exceed the yellow zone much if it is going to reach 100% downside monthly expansion. For the target red zone to be reached, we should not see price prints above the spike and ledge bottom from the prior week at 1.4050 area.
Lawrence's Comment
Recap
Cable found support at Y-0 and eventually challenged Y+1 and then the break down crime scene I mentioned last week. Thatès all it can do and the selloff started. ...
Lawrence's Comment
Recap
Bearish down trend in force all week. 100% absolute range expansion led to a strong bounce. Closed the week near Y-1 and below midpoint.
Outlook
Breaking above down ...
Lawrence's Comment
Recap
Y-0 support and then breakout to upside target mentioned last week. Stalled when getting near Y+3. Closed the week above Y+2 and near week high.
Outlook
weekly consolidation / ...
EURAUD Week of Nov 8 – 12 Outlook
Recap of last week
Did not post a chart on this pair last week as it was not clear if we were having a spike and ledge or just a pause before running higher.
Then early in the week it became clear we had a spike and ledge and it failed to hold up. Shorting this pair was not hard as the 1-2-3 sell on 4 hour was very pronounced. The only concern at the time was that the week was about to wrap up in a day could it go all the way to break the current week low at the time.
It did and made up for the wait!
Next week outlook
A bounce from last week low/close should not exceed the yellow zone much if it is going to reach 100% downside monthly expansion. For the target red zone to be reached, we should not see price prints above the spike and ledge bottom from the prior week at 1.4050 area.
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