Run above yellow zone tagging prior week high. Then w. thrust against prior week high and stalled back to prior week midpoint and failed to hold. Tested prior week low and bounced back to midpoint of the week and stalled to close at low of the week, but above prior week low. It is standard STOPD behaviour when both long side and short side could not overpower the opponents to give up their positions, thus trapped in the prior week range.
Next Week Outlook
A break of last week low (red zone) and that in turn becomes resistance, a drop to below 1.30 is in play. If support is found at the (red zone) and/or the weekly midpoint (yellow zone), a run towards the green zone will happen quickly.
Lawrence's Comment
Recap
Consolidation actions between Y-0 and Y+1. Ledge breakout upside gave us 100% of tight range. Closed the week above Y+1 and midpoint.
Outlook
Rising wedge with support at B-0. ...
Lawrence's Comment
Recap
Similar to Dow, ES moving lower as expected. Tagging both 1st target of Y-2 and 2nd target of Y-3 in one go was a present surprise. The bounce ...
Lawrence's Comment
Recap
Gap zone tested and failed to fill the gap. Price breakdown to Y-2. Bounced back to Y-1. Then 100% absolute range expansion to the downside stopped the drop. ...
EURUSD Dec 20th to Dec 24th Outlook
Recap of Last Week
Run above yellow zone tagging prior week high. Then w. thrust against prior week high and stalled back to prior week midpoint and failed to hold. Tested prior week low and bounced back to midpoint of the week and stalled to close at low of the week, but above prior week low. It is standard STOPD behaviour when both long side and short side could not overpower the opponents to give up their positions, thus trapped in the prior week range.
Next Week Outlook
A break of last week low (red zone) and that in turn becomes resistance, a drop to below 1.30 is in play. If support is found at the (red zone) and/or the weekly midpoint (yellow zone), a run towards the green zone will happen quickly.
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