Trading Edges That Last
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Lawrence’s Comment
The interesting scenario mentioned last week has played out nicely and tagged the 1st target of Y-3 and also the 2nd target of Y-4. Closed at the low of the week. Notice how the range of previous week acted as the yardstick on every move throughout the week according to the rules of STOPD.
Outlook
Y-5 is likely to be tagged in the beginning of the week as that is also the monthly low zone.
A close of the month above 82 implies a quick rally back up to B-0.
Closing below that, will point to congestion for some time and downside bias until B-1 acts as support.
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