Trading Edges That Last
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Lawrence's Comment Recap Short squeeze back up to Y+1 as expected filling the open gap above. The move was so dirty that it was erased right after and led to spike reversal ...READ MORELawrence's Comment Recap Similar to Dow and NQ, ES shot up whole week last week and recovered all the ground it lost over the past several weeks. Closed the week ...READ MORELawrence's Comment Recap Consolidated around Y+1. Mildly bullish as expected. Closed the week above Y+1 and midpoint. Outlook Need the pair to tag B+2 soon and holding above 0.98 to stay bullish. On ...READ MORELawrence's Comment Recap Broken above the resistance zone mentioned last week, leading to immediate reversal to normal upside target of Y+2. Stalled from Y+2 and tried to stay above Y+1 ...READ MORELawrence's Comment Recap Y-0 resistance sent NQ down to near Y-2 target mentioned last week. Worked out well but then rumors and news shock dominated the rest of the week. Closed the ...READ MORELawrence's Comment Recap Cable went sideway until ECB announcement. Successfully filled the open gap above as expected. Closed the week above Y+1 and midpoint. Outlook Strong resistance zone above B+1 upto B+2 ...READ MOREIntraday Cycle Projection (USDCAD) 2014-11-13Dow 30 May 16 to May 20 OutlookS&P 500 Nov 26 to Nov 30 OutlookNasdaq 100 Jul 30 to Aug 03 OutlookUSDCAD Oct 01 to Oct 05 OutlookIntraday Cycle Projection (USDCAD) 2014-02-19GBPUSD Dec 26 to Dec 30 OutlookNasdaq 100 Jul 13 to Jul 17 OutlookIntraday Cycle Projection (USDCAD) 2014-09-23GBPUSD Mar 14 to Mar 18 Outlook
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USDCAD Sep 30 to Oct 04 Outlook
Lawrence’s Comment
Loonie managed to get to Y+1 by drifting slowing. It was immediately rejected. Closed the week at midpoint and above Y-0.
Outlook
It has weaknesses written all over. The slow up channel once broken to the downside points to at least a test of Y-0 and B-2 should be tagged too. This drop does not imply a selloff to any lower price level though because Y-1 was rejected decisively.
Rare scenario is that a quick breakout above B+1 will result in a run to B+3 and B+4 in almost no time due to the parabolic pattern in place.
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