Trading Edges That Last
- You May Also LikeFor 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 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 MORE
Lawrence's Comment Recap Y-0 acted as resistance as expected and sent the pair to retest Y-1. Y-1 did not offer much support at all until 100% absolute range expansion is reached. Outlook 1.6 ...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 Previous week close acted as support all week making the consolidation higher than usual. Closed the week above Y+1 and midpoint. Outlook An up channel has developed. A break above B+1 ...READ MORELawrence's Comment Recap Got the bottom I was talking about and cable took off to tag Y+2 near the expected upside target for the move. Another easy one for the week. Closed ...READ MOREPrecog Vision – Forex 2011-10-6Precog Vision – Forex 2013-9-2GBPUSD Jun 27 to Jul 01 Outlook3DP Odds Table (USDJPY) 2013-08-14Precog Vision – Forex 2018-8-8EURUSD Feb 24 to Feb 28 OutlookHot n Cold (USDJPY) 2022-1-213DP Odds Table (USDJPY) 2022-11-013DP Odds Table (USDJPY) 2020-11-04GBPUSD Oct 21 to Oct 25 Outlook
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USDJPY May 16 to May 20 Outlook
Consolidation within 50% of previous week range. No serious attempt to break out of the range at all. Closed the week at midpoint of the week and also near the midpoint of previous week.
Outlook
It is a wait and see situation. Many traders are waiting for someone else to take the lead for the next move. The setup is now complete for a major breakout to either direction.
A successful breakout above Y+1 and that previous month close acting as support will confirm the long term bottom.
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