Recap 1-2-3 buy off Y-1 in the beginning of the week pushed cable back up to also Y+1. Yet it was not strong enough and sold off from 1-2-3 sell breaking Y-0. That gave way to Y-2. Cable finally broke down by end of the week and almost tagged Y-2. Closed the week near week low and Y-2.
Outlook Never got the chance to test Y-2 until the end of the week. Multiple tries at bottoming out last week all failed points to the potential of a flush more significant than I first thought.
Same strategy like last week, looking for a quick flush that snap back up and hold B-1 to go long for at least a push towards B+2.
Lawrence's Comment
Recap
Early in the week tried to fill the gap above and failed. That points to the downside gaps in play. Later in the week 2 downside gaps ...
Lawrence's Comment
Recap
Ninja tried to hold previous week close early in the week. It even spiked higher but failed to stay above Y+1. FBO led to a drop to Y-0 and ...
Lawrence's Comment
Recap
Snapped back up to Y-0 as predicted. Failed to hold above Y-0 and falled back down to Y-1. Effectively consolidated within Y-1 to Y-0 area. Closed above midpoint ...
GBPUSD Mar 11 to Mar 15 Outlook
Lawrence’s Comment
1-2-3 buy off Y-1 in the beginning of the week pushed cable back up to also Y+1. Yet it was not strong enough and sold off from 1-2-3 sell breaking Y-0. That gave way to Y-2. Cable finally broke down by end of the week and almost tagged Y-2. Closed the week near week low and Y-2.
Outlook
Never got the chance to test Y-2 until the end of the week. Multiple tries at bottoming out last week all failed points to the potential of a flush more significant than I first thought.
Same strategy like last week, looking for a quick flush that snap back up and hold B-1 to go long for at least a push towards B+2.
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