Trading Edges That Last
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I have introduced the concept of Point of No Return some time ago here. It is not a complex concept but many traders find it difficult to apply the concept ...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 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 Early part of the week rallied to Y-0 as expected. But then news shock sent Dow straight down to Y-1. W. spring off Y-1 pushed Dow back ...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 MORES&P 500 Mar 19 to Mar 23 OutlookHow to Compute the Point of No Return3DP Odds Table (GBPUSD) 2017-10-11Precog Vision – Forex 2022-7-12Hot n Cold (GBPUSD) 2011-9-23USDJPY Nov 15 to Nov 19 OutlookPrecog Vision – Forex 2017-9-19AUDUSD Jan 23 to Jan 27 OutlookDow 30 May 28 to Jun 01 OutlookPrecog Vision – Forex 2022-6-27
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GBPUSD Feb 06 to Feb 10 Outlook
Lawrence’s Comment
Pullback happened, but the double top formation failed to break its neckline and turned into a classic ledge finding support at Y-0. Target Y+2 tagged by middle of the week. Closed the week above Y+1.
Outlook
Euro zone feeding news and rumors out that are not truthful but enough to create a squeeze on cable and euro dollar. That means some time in near future if the promises are not fulfilled, then we get a replay of 2011 August.
As long as B-0 acts as support cable can squeeze out one more leg up to B+2 area.
If B+1 acts as resistance, cable will drop quickly down to B-2.
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