Trading Edges That Last
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Lawrence's Comment Recap Consolidation around Y+1 as expected. No strong reactions after NFP leading to a quiet close. Closed the week near Y+1 and midpoint. Outlook Consolidation / ledge actions after significant ...READ MOREPrecog Vision – Forex 2015-2-20Precog Vision – Forex 2012-9-17Precog Vision – Forex 2021-8-13USDCAD Jan 09 to Jan 13 Outlook3DP Odds Table (USDJPY) 2016-03-033DP Odds Table (USDJPY) 2011-06-233DP Odds Table (USDJPY) 2015-09-223DP Odds Table (USDJPY) 2020-04-01Hot n Cold (USDJPY) 2011-8-11Nasdaq 100 Jun 06 to Jun 10 Outlook
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USDJPY Mar 04 to Mar 08 Outlook
Lawrence’s Comment
Started the week by tagging the upside target mentioned last week. Not even a chance to join the ride. Then FBO triggered against Y+1 and gave us Y-1 minimum downside right there. Got Y-1 and flushed to Y-3 / Y-4 before it stopped. And to the surprise of many, closed the week by rallying back to Y-0 and above midpoint.
Outlook
It was pretty messed up last week. I have been talking about a swing top to short into since 2 weeks ago. And now it flushed 200+ pips quickly and bounced all the way back. It will be difficult to position a swing short from here because there are many trapped shorts below B-0. All it takes is a nudge to Y+1 and a power short squeeze can be triggered.
Not going to participate on the long side this week. Will look for daytrading opportunities if a breakdown occurs flushing through B-0 quickly. If so will look for a drop to at least 90 even.
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