Trading Edges That Last
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Lawrence's Comment Recap What resistance? Y-0 did not even give cable a pause when it shot up from previous week close. That opened the door to Y+1. Cleared Y+1 midweek. ...READ MORELawrence's Comment Recap 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 ...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 MOREPrecog Vision – Forex 2019-1-223DP Odds Table (GBPUSD) 2011-09-053DP Odds Table (GBPUSD) 2013-01-233DP Odds Table (GBPUSD) 2012-10-15GBPUSD Dec 17 to Dec 21 OutlookIntraday Cycle Projection (GBPUSD) 2013-11-26GBPUSD Jun 25 to Jun 29 OutlookPrecog Vision – Forex 2017-11-213DP Odds Table (GBPUSD) 2023-04-14Dow 30 Mar 18 to Mar 22 Outlook
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Lawrence’s Comment
The other easy play for the week. Failed to push above Y-0 and dropped straight down to Y-2 target mentioned last week. Consolidated around Y-2 and gave us a flush down to Y-4. Closed the week near week low and below Y-3.
Outlook
Tower reversal is rare but a very reliable price pattern across all major financial markets. At this point Cable likely has its weekly swing top in place.
Strong reaction to the drop is expected. A bounce to Y-2 is possible. Focus on short side only until bottoming price pattern develops.
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