Trading Edges That Last
- You May Also LikeFor 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 MORE
Lawrence's Comment Recap As expected ninja consolidated to the down side. Dropped down to Y-0. Closed the week near Y-0 and below midpoint. Outlook Very tricky setup with 2 completely opposite outcomes. First, if the ...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 Bounced back up to Y-0 and found resistance. Sold off down to Y-2 as expected. Closed the week below Y-1 and midpoint. Outlook Strong support / downside target Y-3 ...READ MORELawrence's Comment Recap Test of B-1 as expected. That did not hold so we got Y-2 normal continuation target. Y-1 then turned into resistance and gave us another push lower. Closed the ...READ MOREPrecog Vision – Forex 2014-8-1USDJPY Feb 17 to Feb 21 OutlookS&P 500 Jul 06 to Jul 10 OutlookPrecog Vision – Forex 2016-5-303DP Odds Table (GBPUSD) 2011-10-06Weekly Cycle Projection (GBPUSD) 2019-10-07AUDUSD May 23 to May 27 OutlookAUDUSD Nov 07 to Nov 11 OutlookIntraday Cycle Projection (GBPUSD) 2014-02-18USDJPY Jul 11 to Jul 15 Outlook
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GBPUSD Jan 05 to Jan 09 Outlook
Lawrence’s Comment
The breakdown in cable is not a surprise for chart traders given the way it was suppressed at Y-0 / 1.56 area. Breakout target of Y-3 was almost tagged by the end of the week. Closed the week below Y-2 and at week low.
Outlook
More downside is expected. Surprise announcements also expected given the European Union is now in full panic mode. This is a repeat of the bullshit we’ve seen since 2007-2008 about the European debt issues.
Based on their past track record, we are looking at at least 2 to 3 months of jawboning, news shocks from the officials until some form of agreement is made.
Smaller timeframe players will be able to better management their positions and find trading opportunities over daily swing level players because of potential sudden price shocks.
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