Recap Cable consolidated around previous week close in extreme tight range. Not even 50% previous week range was made. Closed the week near Y-1 and midpoint.
Outlook Consolidation in tight range after wide range week often points to continuation. Y-1 / B-0 support can send cable higher to B+2 / Y-0 but that will not change the bearish formation on daily. Long term support at 1.5 will be the more important decision zone.
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Lawrence's Comment
Recap
Behaved similar to Dow in drifting higher with clear extra strength coming from short squeeze has taken NQ above Y+2. Tried hard to stay about the inside ...
Lawrence's Comment
Recap
Failed to challenge Y-0, bias for the week to tag Y-2 materialized. At 100% absolute range expansion, cable found support and bounced back up. Closed the week below Y-1 ...
Lawrence's Comment
Recap
Unlike NQ, ES ended last week without filling the gap above completely. ES was the weaker one. The rally was a controlled one because by the end of ...
GBPUSD Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Cable consolidated around previous week close in extreme tight range. Not even 50% previous week range was made. Closed the week near Y-1 and midpoint.
Outlook
Consolidation in tight range after wide range week often points to continuation. Y-1 / B-0 support can send cable higher to B+2 / Y-0 but that will not change the bearish formation on daily. Long term support at 1.5 will be the more important decision zone.
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