Trading Edges That Last
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Recap of last week 4 trading days, 3 gaps. Most people would assume it is light volume trading thus the market was directionless and choppy. That was not true. ...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 More downside as expected but failed to tag Y-2. Just consolidated around Y-1. Closed the week near Y-1 and midpoint. Outlook Indecision to close near Y-1 means a chance to push ...READ MORELawrence's Comment Recap Range bounded trading as expected and Y-0 support is not even challenged. Closed the week at 50% absolute expansion. Outlook B-0 to B+1 zone is a significant resistance area. Any ...READ MORES&P 500 Week of Nov 29th to DecIntraday Cycle Projection (GBPUSD) 2012-08-17Intraday Cycle Projection (GBPUSD) 2018-12-133DP Odds Table (GBPUSD) 2021-05-18Precog Vision – Forex 2021-3-10Intraday Cycle Projection (GBPUSD) 2022-02-283DP Odds Table (GBPUSD) 2014-01-22USDJPY Apr 01 to Apr 05 OutlookAUDUSD Jan 16 to Jan 20 OutlookAUDUSD Apr 04 to Apr 08 Outlook
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GBPUSD Jun 25 to Jun 29 Outlook
Lawrence’s Comment
Rallied a bit more to the upside and fulfilled the upside target as mentioned last week. News shock later in the week sent cable back down to Y-0. Closed the week near week low and Y-0.
Outlook
Cable is sitting at the bottom of an upchannel. Depending the timeframe you use, it can be either sitting at the support or already broken and right below that.
Early next week if cable can pop back above B-0, then another leg going higher to above B+1 is likely.
If cable spends a lot of time around B-1 and only drift up to B-0, it is likely the short term uptrend is over and a stronger pullback is due with target at B-2 or lower.
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