Trading Edges That Last
- You May Also Like
Lawrence's Comment Recap News shock sent cable back down to Y-1 and 100% range expansion. Stops were triggered and led to further downside to Y-2 before support is found. Closed the week ...READ MORELawrence's Comment Recap Took out Y-1 at the start of the week and recovered. A false breakout of one extreme points to the potential of tagging the other side in ...READ MORELawrence's Comment Recap Y-0 acted as support as expected and a double bottom was formed late in the week to break the Y+1 resistance. Outlook As long as B-0 to Y+1 acts as ...READ MORELawrence's Comment Recap Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint. Outlook Potential break ...READ MOREGBPUSD Sep 28 to Oct 02 OutlookDow 30 Feb 06 to Feb 10 OutlookIntraday Cycle Projection (USDCAD) 2018-11-283DP Odds Table (USDCAD) 2021-11-17AUDUSD Jun 06 to Jun 10 OutlookAUDUSD Aug 15 to Aug 19 OutlookIntraday Cycle Projection (USDCAD) 2016-03-303DP Odds Table (USDCAD) 2014-10-27Intraday Cycle Projection (USDCAD) 2018-05-16Intraday Cycle Projection (USDCAD) 2014-07-03
As Featured In
USDCAD Aug 19 to Aug 23 Outlook
Lawrence’s Comment
Expected a retest of the support zone below Y-1 but loonie just refused to get there. Popped right off previous week close and back up to Y-0. Then reacted violently back down yet bounced off from a higher low and keep trying to push higher. Closed the week above midpoint and below Y-0.
Outlook
Not quite spike and ledge pattern. Not a properly formed double bottom either. Messy setup going into next week.
Considering only chart pattern, we have a bear flag / ledge type formation that points to continuation. Since this pair had a drop from Y+1 down to Y-1 before entering this consolidation, the continuation move points to below B-2 down to Y-2.
Share