Recap Test of Y+1 failed, giving us Y-1 downside target. Reacted to Y-0 but failed to go higher. Y-1 downside target tagged by the end of the week. Closed the week near Y-1 and below midpoint.
Outlook Outside reversal week with close below Y-1 is a very strong reversal pattern. More downside expected. B-2 / Y-3 in play as long as B-0 continue to act as resistance.
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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
As expected ninja drifted higher towards to 102 boundary. Y+1 acted as support in midpoint selloff. Closed the week at week high and above Y+2.
Outlook
The up move is not ...
GBPUSD Dec 16 to Dec 20 Outlook
Lawrence’s Comment
Test of Y+1 failed, giving us Y-1 downside target. Reacted to Y-0 but failed to go higher. Y-1 downside target tagged by the end of the week. Closed the week near Y-1 and below midpoint.
Outlook
Outside reversal week with close below Y-1 is a very strong reversal pattern. More downside expected. B-2 / Y-3 in play as long as B-0 continue to act as resistance.
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