Log In    |    Join for FREE
Unlock Full Access
DaytradingBias on Facebook DaytradingBias on Google+ Follow DaytradingBias on Twitter

Weekly Outlook

  • Charts on selected symbols with STOPD Levels are posted
  • Recap and outlook commentaries are added to some posts as demonstration of applying STOPD and classic Chart Reading Techniques in actively traded markets
  • Share charts and screenshots in discussion
  • To participate in outlook discussion sign up for FREE

End-of-day trader / swing trader looking for useful analysis beyond daytrading? Take a look at our proprietary Weekly Cycle Projection.






Lawrence’s Comment

Recap
Previous week close acted as support gave us a clean run up to Y+1 and then 100% absolute range expansion. Closed the week near Y+1 and above midpoint.

Outlook
As noted several weeks ago, the weekly support underneath is strong and that it is more likely we see a push towards year high for a retest. If B-0 / Y+1 zone acting as support, a run towards 1.35 and above is likely.

No comment yet



Lawrence’s Comment

Recap
Breakout play to the upside gave us Y+2 and above. 100% absolute range expansion capped the upside. Closed the week above Y+2 and near week high.

Outlook
No sign of weaknesses yet as 30-min timeframe uptrend is intact. A quick drop back down to below B-0 will induce more selling with target B-2 potential.

No comment yet



Lawrence’s Comment

Recap
ES pushed into Y+1 and Y+2 zone as expected. So far no sign of reversal though. Closed the week near Y+2 and above midpoint.

Outlook
Test of B+1 will tell us if this leg up is over. Downside target B-1 and below.

No comment yet



Lawrence’s Comment

Recap
Channel breakdown play worked out perfectly with Y-2 target tagged. Closed the week near Y-2 and week low.

Outlook
Potential weekly down trend in the making. B-0 / Y-1 resistance must hold for further downside push towards B-2 and below.

No comment yet



Lawrence’s Comment

Recap
Previous week close support helped sending ninja higher. Consolidation week actions since. Closed the week near Y+1 and midpoint.

Outlook
Consolidation around Y+1 after a strong rally is bullish. As long as B-2 / Y-0 holds up, retest of B+1 likely.

No comment yet



Lawrence’s Comment

Recap
Bearish expectation played out. Struggled around Y-1 / 1.10 round number before giving in by end of week. Closed the week below Y-1 and midpoint.

Outlook
FOMC week will decide how far Euro is going to drop. Target of 1.08 still in play.

No comment yet



Lawrence’s Comment

Recap
Consolidation around Y-0 all week. Closed the week below Y-0 and midpoint.

Outlook
Structure of inverse head and shoulder intact but the formation has weaken. Breaking below B-2 points to weekly down trend continuation.

No comment yet



Lawrence’s Comment

Recap
Consolidation week moving around Y+1. Closed the week near Y+1 and midpoint.

Outlook
Y+1 acting as resistance if give us a test of Y-0 / B-2.

No comment yet





Lawrence’s Comment

Recap
As expected NQ pushed into Y+1 / Y+2 zone. Very quiet option expiration week though. Closed the week above Y+1 and midpoint.

Outlook
Tight range levitation last week gives us a very powerful breakout setup. Both direction has about equal chance to happen so trade what you see, not what you think.

No comment yet



Lawrence’s Comment

Recap
Dow pushed towards Y+2 and gap thru. Tagged 18500 and stalled. Closed the week above Y+2 and midpoint.

Outlook
Cannot time the end of a parabolic move but if it ending, the initial drop can be very sudden. Be ready for a snapback down to Y-0 area where this last push up started.

No comment yet



Lawrence’s Comment

Recap
Y+1 support in the beginning of the week started a stop hunt to the up side. Y+2 tagged and ES went sideway since. Closed the week near Y+2 and above midpoint.

Outlook
Tight range week can easily produce a whiplash move if B+1 /B+2 zone is proven strong resistance. If so downside target Y-0 / B-2 in play.

No comment yet



Lawrence’s Comment

Recap
Expectation of very strong reaction materialized. Previous week close acted as support and sparked a strong push of 200% absolute range expansion to the upside. Closed the week above Y+2 and midpoint.

Outlook
The Brexit crime scene finally tagged. B-0 / Y+1 very strong support until proven otherwise.

No comment yet



Lawrence’s Comment

Recap
Cable held Y-1 and cleared Y-0 for its Brexit low test. Since then Y-0 support sent cable higher until 100% absolute range expansion was reached. Closed the week above Y-0 and near midpoint.

Outlook
Potential inverted head and shoulder in the making if B+1 is cleared with target B+3. As long as B+1 is acting as resistance, continuation to the downside is still likely.

No comment yet



Lawrence’s Comment

Recap
FBO against Y+1 gave us a drop back down to Y-0 and then lower. 100% range expansion stopped the down move. Closed the week near Y-0 and midpoint.

Outlook
Same problem like past several weeks that Loonie is still range bounded. Until we get a move outside of this range, there is no directional play.

No comment yet



Lawrence’s Comment

Recap
Channel play as expected. Pushed to Y+2 and stalled. Closed the week near Y+1 and below midpoint.

Outlook
Channel break down will give us at least B-2 and likely lower.

No comment yet



Lawrence’s Comment

Recap
Quiet week for Euro. Previous week close support created an hourly channelup drift. Stalled at previous week resistance zone. Closed the week below Y-0 and near week low.

Outlook
Inside week points to breakout mode. So far weekly ledge in place so continuation down is the more likely outcome with target below 1.08

No comment yet




Each symbol has its weekly STOPD levels drawn on the chart,

  • Thick blue lines show the range of the week they are drawn on
  • Thin blue lines are the midpoint of the weeks
  • Thick orange lines are 100% expansion levels away from the range of the week
  • Thin orange lines are the midpoints between thick orange lines and the thick blue lines
  • Thick red lines are 200% exapnsion levels away from the range of the week
  • Thin red lines are midpoints between the thick red lines and the thick orange lines

The last 2 weeks on each chart has the weekly STOPD levels labelled,

  • The week just finished has its labels in blue. B-0 is the midpoint of the week. B+1 is the high of the week. B-1 is the low of the week. B-2 is the 50% downside expansion of the week.
  • The prior week has its labels in yellow. Y-0 is the midpoint of that week. Y+1 is the high of the week and so forth.



Following is an example chart showing the forex pair USDJPY in 4-hour resolution.




Related research and articles on using STOPD weekly price levels.


Euro Dollar Price Action Biases At Weekly Extremes


British Pound Price Action Biases At Weekly Extremes


More research articles available in our Latest Articles section.



  Like what you’ve read?
  Show your appreciation by clicking the buttons below.

Brokerage Deals for Premium Membership

apex-logo-180x32

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
Please read full disclaimer here.

Connect

DaytradingBias on Facebook
DaytradingBias on Pinterest
DaytradingBias on Google+
Follow DaytradingBias on Twitter
Subscribe DaytradingBias News Feed
We accept Bitcoin here

As Featured In


© 2015 Lawrence Chan / DaytradingBias.com. All Rights Reserved.