- 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
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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.
Spike low below B-1 but above Y-2 / B-2 can spark a rally back up to Y-0.
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.
As long as Y-0 / B-0 zone holds, retest of B+1 and open gap fill above likely.
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.
Clearing B+1 / Y+1 points to B+3 in play.
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.
Crime scene Y-1 / B-0 strong resistance until turning into support.
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.
Until B+1 acting as support swing trend is still down.
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.
Up trend line strong support until proven otherwise. Retest of B+1 likely aslong as Y+1 / B-0 zone support holds.
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.
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.
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.
Pocket below B-0 asking for a test. That holds, retest of B+1 likely with potential for a run to year high.
No weekly comment this week due to schedule conflict
Quick Access to Weekly Outlook Over Last 3 Months
2016 Sep 26 – 2016 Sep 30
2016 Sep 19 – 2016 Sep 23
2016 Sep 12 – 2016 Sep 16
2016 Sep 5 – 2016 Sep 9
2016 Aug 29 – 2016 Sep 2
2016 Aug 22 – 2016 Aug 26
2016 Aug 15 – 2016 Aug 19
2016 Aug 8 – 2016 Aug 12
2016 Aug 1 – 2016 Aug 5
2016 Jul 25 – 2016 Jul 29
2016 Jul 18 – 2016 Jul 22
2016 Jul 11 – 2016 Jul 15
2016 Jul 4 – 2016 Jul 8
2016 Jun 27 – 2016 Jul 1
2016 Jun 20 – 2016 Jun 24
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.