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
Strongest among the 3 indices, NQ consolidated between Y-0 and Y-1. NQ also formed a rare down side triangle with potential up side breakout by the end of the ...
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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