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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
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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
Y+1 resistance led to reversal back down to spike up move crime scene down below near Y-1. Y-1 tagged and unlocked further selling. Closed the week below Y-1 and near week low.

Outlook
Measured down move on daily. Y-2 / B-1 support will send this back up to B-0.

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Lawrence’s Comment

Recap
Attempt to break above Y+1 failed and led to a test of Y-1. Support found above Y-1. Closed the week below Y-0 and midpoint.

Outlook
Inside week points to breakout play is in order. Original trend was down before entering the tight range weeks so downside has an advantage. FBO against Y-1 / B-1 can lead to a spike reversal back up to Y+3 quickly.

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Lawrence’s Comment

Recap
Downside target mentioned last week tagged and led to a weak bounce. Consolidation around Y-1 since and eventually Y-1 turned into resistance. Closed the week below Y-1 and near week low.

Outlook
Potential parabolic run as long as Y-1 resistance holds with target Y-3.

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Lawrence’s Comment

Recap
Previous week close acted as support leading to a bounce back up to resistance zone mentioned last week. Y-0 acted as support near end of the week helped Euro pushing towards Y+1. Closed the week above Y-0 and midpoint.

Outlook
Inside week points to breakout mode. Euro dropping below Y-0 / B-0 without challenging B+1 points to B-1 and B-2 in play.

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Lawrence’s Comment

Recap
Dow held up at top zone around Y+1. Event driven breakout gave us 100% expansion off the tight range. Closed the week above Y+1 and midpoint.

Outlook
Test of year high in progress. Failing to clear it will lead to sell off back down to at least B-1 and likely B-2. This is first test of the year high, the selloff expected is not necessary something bearish on long term basis.

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Lawrence’s Comment

Recap
Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.

Outlook
Potential break of up channel and rising wedge in progress. As long as Y+1 / B-0 zone acting as resistance a drop towards B-2 is likely.

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Lawrence’s Comment

Recap
B+1 resistance together with low volume gave us consolidation actions all week. Closed the week near Y+1 and above midpoint.

Outlook
Sideway actions with a weak upside triangle formation points to potential upside breakout for Y+2. Such actions can be the making of a blow off top.

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Lawrence’s Comment

Recap
More upside as projected. Sideway actions around Y+1 is normal after wide range reversal week. Closed the week above Y+1 and midpoint.

Outlook
As long as Y+1 / B-0 zone acting as support, another push higher is likely. Breaking of B-1 points to quick selloff down to B-2 and then B-3.

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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.



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