Trading Edges That Last
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Lawrence's Comment Recap Another easy play last week. Y-0 acted as resistance giving us the Y-2 target as expected. Buying showed up, surprised the sell side and squeezed higher. Closed the week ...READ MORE2 studies are presented in this article. Let's get started. It is well known that the range of a trading period (i.e. a month, a week, a day), is ...READ MORELawrence's Comment Recap Option expiration week played out perfectly to mess with everyone who forgets about it since last month. Initial attempt to blast higher from Y+1 failed leading to first flush ...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 ES bull flag on 30-min and hourly landed at Y-0 support. Strong squeeze on the shorts led to breakout of Y+1. Closed the week above Y+1 and near week ...READ MOREDow 30 Dec 02 to Dec 06 OutlookIntraday Cycle Projection (USDCAD) 2012-02-09Nasdaq 100 Dec 28 to Jan 01 OutlookNasdaq 100 Feb 26 to Mar 02 OutlookUSDCAD Mar 10 to Mar 14 Outlook3DP Odds Table (USDCAD) 2021-07-29Euro Dollar Price Action Biases At Weekly ExtremesS&P 500 Apr 20 to Apr 24 OutlookPrecog Vision – Forex 2011-8-1S&P 500 Mar 14 to Mar 18 Outlook
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USDCAD Oct 28 to Nov 01 Outlook
Lawrence’s Comment
Expected to see lower price and we got that. It turned into a FBO against Y-1 which triggered the Y+1 target. Y+1 only offered a pause. Closed the week at Y+2 and near week high.
Outlook
I thought Loonie would slow down its pace at the previous consolidation zone. I did not expect the strong reaction at the support. That confirmed higher timeframes continue to support strong US dollar against Loonie.
This week, as long as Y+1 acting as support, more upside should not be a problem. 1.08 was the last important magnet up there. Give them an excuse, that will be the next upside target.
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