Recap First weekly higher low in place. 1.30 acted as support. And they found an excuse to clear 1.32. Closed the week printing 4 week highest high and above Y+1.
Outlook Bullish bias paid off. I did not expect back to back range expansion in opposite direction as it is rare. So it was a nice surprise.
Very difficult read from here due to the rareness with the weekly price pattern. Classic breakout models lean towards continuation to the upside as the slingshot effect is usually very explosive.
In case we get a 1-2-3 sell or DT on 4 hours breaking below B-0 to close the week, a long term top would be in place.
Lawrence's Comment
Recap
ES broke Y-1 from its ledge gave us Y-3 target. Tagged Y-3 and holding since. Double bottom at Y-3 sent Es back up to above Y-1. That in turn ...
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
Euro consolidated between Y+2 (the crime scene before the last flush) and Y-0 (wedge breakout support). Y+1 / 1.10 did not act as support hence no short term trend ...
Lawrence's Comment
Recap
Y-0 support sent NQ up to Y+2 and above. 4700 round number resistance sent NQ back down. Closed the week below Y+1 and midpoint.
Outlook
Upchannel / Bear flag ...
Lawrence's Comment
Recap
Dow gapped up right into the strong resistance zone mentioned last week. Selling just pile on and sent Dow back down to Y-1 as expected. The reaction there was ...
EURUSD Jan 14 to Jan 18 Outlook
Lawrence’s Comment
First weekly higher low in place. 1.30 acted as support. And they found an excuse to clear 1.32. Closed the week printing 4 week highest high and above Y+1.
Outlook
Bullish bias paid off. I did not expect back to back range expansion in opposite direction as it is rare. So it was a nice surprise.
Very difficult read from here due to the rareness with the weekly price pattern. Classic breakout models lean towards continuation to the upside as the slingshot effect is usually very explosive.
In case we get a 1-2-3 sell or DT on 4 hours breaking below B-0 to close the week, a long term top would be in place.
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