Recap Slided further down near Y-2 but bounced off before tagging the price level. Rejected by Y-0 as expected. Closed the week near Y-1 and below midpoint.
Outlook Turning the top formation into a down channel structure. Once B+1 is breached to the upside, we get bull flag continuation.
As long as Y-0 / B+1 acting as resistance, looking for Y-2 to be tagged finally.
Lawrence's Comment
Recap
Dropped to Y-1 as expected. Bounced back immediately. Y-0 resistance stopped the bounce. Closed the week below Y-0 and midpoint.
Outlook
4 Hour down channel established. Until break out ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
How wrong was I on NQ. Instead of a clean FBO Monday, NQ rejected the setup by not breaking the Monday low and instead gap and breakout upside. Tagged ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
GBPUSD Oct 08 to Oct 12 Outlook
Lawrence’s Comment
Slided further down near Y-2 but bounced off before tagging the price level. Rejected by Y-0 as expected. Closed the week near Y-1 and below midpoint.
Outlook
Turning the top formation into a down channel structure. Once B+1 is breached to the upside, we get bull flag continuation.
As long as Y-0 / B+1 acting as resistance, looking for Y-2 to be tagged finally.
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