Recap The best pair to trade last week. Breakout play from Y+1 to Y+2. A thin up channel in place giving us a potential top in the making. Lower high retest of Y+2 and then breaking Y+1 gave us below Y-0 target. Closed the week at week low and below Y-0.
Outlook Need cable to close below Y-1 on weekly basis to confirm daily up trend broken. For now will treat this as a strong pullback only.
Looking for more downside this week. B-2 reasonable target. But cable can stage a bounce from there and close above Y-1 if this is just a strong pullback.
Lawrence's Comment
Recap
Y-1 support consolidation created a breakout play. Breaking above led to a surge to measured move target above Y+1. Closed the week above Y+1 and near week high.
Outlook
2nd push ...
Lawrence's Comment
Recap
As oppose to holding above support level, NQ sold off in the beginning of the week to right underneath the level, creating a w. upthrust against Y+1. That ...
Lawrence's Comment
Recap
Y-1 acted as support, got our rally going. Yet Aussie failed to clear Y-0 and pullback since. Closed the week at midpoint and below Y-0.
Outlook
The short term swing low ...
Lawrence's Comment
Recap
Drop to Y-2 as expected. Y-2 / 4400 strong support points to Y-1 retest. Then the rumors about Greece surfaced and had driven NQ back up to Y-0. By ...
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GBPUSD Oct 07 to Oct 11 Outlook
Lawrence’s Comment
The best pair to trade last week. Breakout play from Y+1 to Y+2. A thin up channel in place giving us a potential top in the making. Lower high retest of Y+2 and then breaking Y+1 gave us below Y-0 target. Closed the week at week low and below Y-0.
Outlook
Need cable to close below Y-1 on weekly basis to confirm daily up trend broken. For now will treat this as a strong pullback only.
Looking for more downside this week. B-2 reasonable target. But cable can stage a bounce from there and close above Y-1 if this is just a strong pullback.
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