Trading Edges That Last
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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 ...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 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 ...READ MORELawrence'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 ...READ MORELawrence'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 ...READ MORES&P 500 Feb 10 to Feb 14 OutlookGBPUSD Mar 27 to Mar 31 Outlook3DP Odds Table (EURUSD) 2016-09-01Precog Vision – Forex 2019-2-1Hot n Cold (EURUSD) 2011-7-28EURUSD Aug 03 to Aug 07 OutlookNasdaq 100 Jan 04 to Jan 08 OutlookIntraday Cycle Projection (EURUSD) 2012-01-11Intraday Cycle Projection (EURUSD) 2018-06-22Dow 30 May 11 to May 15 Outlook
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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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