Both your considerations are very opportune and reasonable. I will not trade too. There is too volatility. And probably there will be more than this. Anyway I will observe market as always. Best L.
Ubi maior minor cessat
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Disliked13:52+1GMT A fast recap: first weekly balance at 23317 that could attract a test by upcoming pit session. old pit gap downside at 23246-23444: also this could attract pit session action in order to fill it. old pit us poor high are below here at 23218, 22739 and 2254: we need only to have upcoming pit opening above the last one (23218) to consider all of them corrected.Ignored
DislikedDownside we left 2 poor lows for pit session at 22137 and 21364 plus a minus development at 21776-21995. Note also that current preUS session is very elongated and that the GB session supporting current action has been extraordinary weak. (with a poor low at 2254 and some minus development for G 2284-2292 and H 2299-2304.) ....Ignored
DislikedJust how it's very resilient to go below 1.2100 and how the UK economy has done so much better than though of post Brexit, long positioning is the way now I think. Buy dips. After DEC there will probably be only 1 more rate hike in the U.S. if any. Shorts are peaked out on GBP just like the USD index is over stretched to the upside. We are going to see a huge short squeeze at some point and tomorrow's news could be the trigger.Ignored
Disliked19:39 +1GMT I see nothing here but a lot of confusion. It could continue lower down to the main poc or it could remain here in balance. But I really don't know what this maket want to do and I'm really very tired. So let's see tomorrow. Obviously all the refs of the previous posts are valid. C low has already been removed. I'm off and have a nice continuation. Best L.Ignored
Disliked16/11/03 THURSDAY 07:25+1GMT EARLY MORNING REPORT ... About the last upside (spike base at 22837) you have to apply the spike "rules": if upcoming GB session will open above the spike (23194) or at least well above its base (22837) we could read this simple fact as a form of initial acceptation of that test upside, meaning possible continuation upwards for the new GB session...Ignored
DislikedNote that above current price position we have the old GB gap downside from 10.10.(23316-23663) If we will have continuation upwards for upcoming GB session this space will need a consistent fill: so you could expect some time spent over it by GB.Ignored
DislikedRemember that while if we will have continuation upwards the possible target is the second weekly balance high at 24437,Ignored
Disliked12:00+1GMT LATE MORNING REPORT {quote} GB opens above spike with a gap above it: strong acceptation of the yesterday test upside, because we have price above the spike base and price above yesterday range. {quote} GB spent its initial 4 period to fill the old gap downside and only when the entire gap has been filled price eventually started to rally upwards. {quote} Target taken out. Now take with the needed caution current move for 2 reasons: 1st because it left downside a huge minus development 23678-2420. 2nd Because...Ignored
DislikedLondon open, the Market opened above yesterdays range and so is out of balance. The open - auction structure suggests lack of conviction. But, because it is out of balance there is potential for a move in one direction or other, possibly a double distribution. Currently, there is no evidence of active other timeframe participants apart from those that caused the shift to outside the previous days range.Ignored
Disliked{quote} Maybe I have the wrong settings but I do not see how the gap has been filled. Also using again the settings of last week the gap is not filled. My broker is GMT +1 {image} {image}Ignored
Disliked12:00+1GMT LATE MORNING REPORT {quote} GB opens above spike with a gap above it: strong acceptation of the yesterday test upside, because we have price above the spike base and price above yesterday range. {quote} GB spent its initial 4 period to fill the old gap downside and only when the entire gap has been filled price eventually started to rally upwards. {quote} Target taken out. Now take with the needed caution current move for 2 reasons: 1st because it left downside a huge minus development 23678-2420. 2nd Because it is building an anomalous...Ignored
Disliked{quote} The gap filled was the one left from 10.10 GB session low. USe old settings to visualize it. It was a gap between 10.10 and 10.11 GB sessions. I'm off the thread again. Best L. PS: if you understood where it was the gap, please remove your post I'll do the same for mine. Best again. L.Ignored
Disliked{quote} Hi Lock....What are you saying ...?! you take the current move with the needed caution (I think this is the up-move...probably that's already a mistake from my side because of the rest of the text....)...?! then you speak about the hudge eventually gap and mius development.... and you speak about the dangerous downside if it is not correcting a little So actually you are saying be carefull it could have a nice correction here before an eventually up-move... Mhhh it's sometimes difficult to understand what you mean.... because sometimes it's...Ignored
Disliked{quote} Very good analysis. The only thing you should have give more emphasis was the presence of two excess in the same direction: the spike was a form of excess as it was the gap higher above it. When you have 2 excess in the same direction is a must do buy position (obviously if the excess are upwards as in this case). Also the filling of the gap could be read only as indecision if you don't know that this was a very needed and normal behaviour in order to continue higher with more strength and conviction. Best L.Ignored