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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
Colsolidation around Y-1 until FOMC announcement. Test of 1.31 round # failed and led to equal distance drop down to week low. Closed the week below Y-1 and midpoint.

Outlook
Spike low below B-1 but above Y-2 / B-2 can spark a rally back up to Y-0.

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Lawrence’s Comment

Recap
Dow consolidated around Y-0 until FOMC announcement. After announcement Dow rushed to 100% absolute range expansion target and stalled from there. Closed the week above Y-0 and near midpoint.

Outlook
As long as Y-0 / B-0 zone holds, retest of B+1 and open gap fill above likely.

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Lawrence’s Comment

Recap
Y-0 support sent this higher to test Y+1. Turned lower below Y+1 opening the door to Y-1. Y-1 tagged and bounced. Closed the week above Y-0 and B-0.

Outlook
Clearing B+1 / Y+1 points to B+3 in play.

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Lawrence’s Comment

Recap
Tight range consolidation before FOMC announcement. After that, spike high to test Y-0 and failed to clear it. Fell hard down to Y-2 before finding support. Closed the week below Y-1 and midpoint.

Outlook
Crime scene Y-1 / B-0 strong resistance until turning into support.

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Lawrence’s Comment

Recap
Consolidation around Y-1 with Y-0 resistance. FOMC announcement sent Euro higher until 100% absolute range expansion. Closed the week near Y-0 and above midpoint.

Outlook
Until B+1 acting as support swing trend is still down.

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Lawrence’s Comment

Recap
NQ held Y-0 and lifted higher to Y+1. Consolidated right under Y+1 until FOMC announcement. Since then breakout upside until 4900 round # was tagged. Closed the week above Y+1 and midpoint.

Outlook
Up trend line strong support until proven otherwise. Retest of B+1 likely aslong as Y+1 / B-0 zone support holds.

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Lawrence’s Comment

Recap
Y-0 support lifted Aussie to test Y+1. Since then consolidated for FOMC announcement. After, Y+1 cleared and 100% range expansion move to above Y+2 before finding resistance. Closed the week above Y+1 and midpoint.

Outlook
Aussie pretty much rushed to the original crime scene where it first broke down from a thin up channel. Now a repeat of the same happened which suggested that a higher timeframe down channel is in the making. As long as B+1 is acting as resistance Aussie will retest Y+1.

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Lawrence’s Comment

Recap
Similar to NQ, ES consolidated around previous week close and waited for the FOMC announcement. Since then, breakout to the upside and tagged 100% absolute range expansion then stalled. Closed the week near Y+1 and above midpoint.

Outlook
Pocket below B-0 asking for a test. That holds, retest of B+1 likely with potential for a run to year high.

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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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