Trading Edges That Last
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Lawrence's Comment Recap Failed to break above the resistance zone I mentioned last week, selloff continue. Closed the week near the low of the week. Outlook The down channel is intact but potential ...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 Y-0 breached to the downside after a weak attempt to push higher failed. Y-1 tagged and Aussie stayed weak since. Closed the week below midpoint and near Y-1. Outlook As ...READ MOREPrecog Vision – Forex 2016-12-1GBPUSD Feb 04 to Feb 08 OutlookAUDUSD Mar 06 to Mar 10 OutlookPrecog Vision – Forex 2020-7-3AUDUSD Nov 28 to Dec 02 OutlookIntraday Cycle Projection (GBPUSD) 2021-12-163DP Odds Table (GBPUSD) 2019-08-13S&P 500 Jul 09 to Jul 13 OutlookPrecog Vision – Forex 2019-2-4AUDUSD Nov 19 to Nov 23 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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