Recap First test of year high led to a pullback to Y-0 but no break of support. 2nd try did the trick and sent ninja to above Y+2. That in turn triggered a massive short squeeze into the end of the week. Closed the week above Y+4 and near week high.
Outlook Short squeeze often mark the end of a trend too. Ninja entering the historically significant resistance zone which can lead to very wild swings. Strong reaction to B+1 will give us a pullback to 120 area easily.
Lawrence's Comment
Recap
Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and ...
For 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 schedule
Lawrence's Comment
Recap
I was looking for a pullback to B-0 early in the week. That worked out as expected. Then a bounce back up to at least a retest ...
For 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 schedule
USDJPY Dec 08 to Dec 12 Outlook
Lawrence’s Comment
First test of year high led to a pullback to Y-0 but no break of support. 2nd try did the trick and sent ninja to above Y+2. That in turn triggered a massive short squeeze into the end of the week. Closed the week above Y+4 and near week high.
Outlook
Short squeeze often mark the end of a trend too. Ninja entering the historically significant resistance zone which can lead to very wild swings. Strong reaction to B+1 will give us a pullback to 120 area easily.
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