Recap Pullback as expected but not the consolidation type. First move back down to Y-0 pierced thru decisively triggered the Y-1 target. Eventually price moved near Y-1 and bounced. Closed the week above Y-0 and midpoint.
Outlook Last week is a wild consolidation week as it is still an inside week. Closing near midpoint added to the uncertainty. Normal consolidation will lead to continuation so a test of Y+1 is expected. If Y+1 is cleared, we are looking for B+2 in one go.
Failing at Y+1 implies a potential double top on daily level in the making where a more significant pullback can send this back down to at least Y-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
Another pair that started out with a quiet week led to an explosive upside stop run. Closed the week near Y+1 and above midpoint.
Outlook
2nd time spike higher trying to ...
Lawrence's Comment
Recap
NQ had a 100 points upside breakout last week. Unlike Dow or ES, NQ continues to drift higher early in the week and then leading to the upside even ...
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
USDCAD Oct 13 to Oct 17 Outlook
Lawrence’s Comment
Pullback as expected but not the consolidation type. First move back down to Y-0 pierced thru decisively triggered the Y-1 target. Eventually price moved near Y-1 and bounced. Closed the week above Y-0 and midpoint.
Outlook
Last week is a wild consolidation week as it is still an inside week. Closing near midpoint added to the uncertainty. Normal consolidation will lead to continuation so a test of Y+1 is expected. If Y+1 is cleared, we are looking for B+2 in one go.
Failing at Y+1 implies a potential double top on daily level in the making where a more significant pullback can send this back down to at least Y-1.
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