Recap Cable gapped down and tagged Y-2 first. The stage was set for an up drift back to Y-1. Consolidation week around open instead of previous week close. Closed the week below Y-1 and near week high.
Outlook All week bear flag. A short squeeze will take cable higher to B+2 but it will likely be capped there. A break of its bear flag support points to at least a retest of B-1.
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
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
Monday and Tuesday consolidated as expected. Then we got the selloff midweek in afterhours between Wednesday and Thursday. Since then ES rally all the way back up ...
GBPUSD Sep 15 to Sep 19 Outlook
Lawrence’s Comment
Cable gapped down and tagged Y-2 first. The stage was set for an up drift back to Y-1. Consolidation week around open instead of previous week close. Closed the week below Y-1 and near week high.
Outlook
All week bear flag. A short squeeze will take cable higher to B+2 but it will likely be capped there. A break of its bear flag support points to at least a retest of B-1.
Share