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Lock's Cable Corner

  • #4,421
  • Aug 10, 2017 6:10am Aug 10, 2017 6:10am
Yesterday GB open level 30075 tagged. We already have one period closed above yes GB unch and close levels. 2 needed for acceptation confirmed. At the same time note that we already have 4 anomalies left downside during this correction upwards (it could mean emotion involed or, if you like, weak hands involved): carry this information forward.
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  • #4,422
  • Aug 10, 2017 8:14am Aug 10, 2017 8:14am
PreUS session high tagged yesterday Pit high at 3011 also establishing a poor high (B and C periods have infact only 1 pip of difference between them) Note also that, just above this new poor and weak high, the famous single pip double pass pit gap 3012-13 is still there untouched by any pit session activity. So it is still a potential target for upcoming Pit session.
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  • #4,423
  • Aug 10, 2017 8:28am Aug 10, 2017 8:28am
Quoting Lock
PreUS session high tagged yesterday Pit high at 3011 also establishing a poor high (B and C periods have infact only 1 pip of difference between them) Note also that, just above this new poor and weak high, the famous single pip double pass pit gap 3012-13 is still there untouched by any pit session activity. So it is still a potential target for upcoming Pit session.
Note now the perfect tag of 3013 by pre US high. Still to be revisited by Pit activity to be really corrected.
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  • #4,424
  • Aug 10, 2017 8:30am Aug 10, 2017 8:30am
Please note: all the activity occurred from Today GB low at round 2950 is against current daily short term trend downside. Take note of it in case of failure upside.
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  • #4,425
  • Aug 10, 2017 8:31am Aug 10, 2017 8:31am
Pit US opened inside yesterday range just below our zone of interest 3012-13.
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  • #4,426
  • Aug 10, 2017 11:23am Aug 10, 2017 11:23am
Quoting Lock
Please note: all the activity occurred from Today GB low at round 2950 is against current daily short term trend downside. Take note of it in case of failure upside.
...as you see


Now: yesterday pit session low tagged. We still are inside yesterday pit session range. We never tested the upper extreme. In case of success downside we could aim initially at today GB low round 2950. In case of failure we could see a complete retracement up to the opposite side of yesterday pit inside session, meaning the cluster of pit highs around 3010
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  • #4,427
  • Aug 15, 2017 5:25am Aug 15, 2017 5:25am
Quoting Lock
{quote}..... For now we are in balance inside a short term trend downside (as all the last 4 days are in a one time framing down action) and in a mid term balance after the first failure above 31637 (read previous posts to appreciate what I'm speaking about)
Quoting Lock
So on a major scale if the failure above 31637 will be confirmed by current week we could imagine at least a test of the upper monthly bracket low at 27948(absolute monthly bracket low)-2845(GB low)-28637(Pit low).

Quoting Lock
If instead we will see a new successfull attempt above 31637, in this case we could imagine a continuation up to the higher extreme of the upper monthly bracket around 3481 (absolute bracket high) {image} weaknesses above and below current
...
So, last week closed below 31637, confirming the failure above the monthly upper bracket mid level (half back), and here we are at the bottom of this upper monthly bracket to test its extremes (first of which is 28637 monthly bracket pit low).

From my post 4404
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 100 KB


Current development
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 111 KB
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  • #4,428
  • Aug 15, 2017 7:25am Aug 15, 2017 7:25am
Quoting Lock
{quote} {quote}{quote} So, last week closed below 31637, confirming the failure above the monthly upper bracket mid level (half back), and here we are at the bottom of this upper monthly bracket to test its extremes (first of which is 28637 monthly bracket pit low). From my post 4404 {image} Current development {image}
28637 tagged again by preUS: it is now extremely weak.
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  • #4,429
  • Aug 15, 2017 7:27am Aug 15, 2017 7:27am
Anyhow take note (after 15:30 PM Pit open +1GMT) of the upper double pass pit gap. We currently are below it (28997-2912)
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  • #4,430
  • Aug 15, 2017 7:30am Aug 15, 2017 7:30am
Quoting Lock
{quote} 28637 tagged again by preUS: it is now extremely weak.

Taken out.

Now let's see the reaction below it.
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  • #4,431
  • Aug 15, 2017 7:32am Aug 15, 2017 7:32am
2845 GB upper monthly bracket low. Big volume valley before it at 2851.
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  • #4,432
  • Aug 15, 2017 7:35am Aug 15, 2017 7:35am
2818 lower major composite poc. 2795 absolute upper monthly bracket low (By Tokyo). Currently still testing Pit monthly bracket low as said multiple times (28637)

Substantial Pit gap lower building.
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  • #4,433
  • Aug 15, 2017 7:37am Aug 15, 2017 7:37am
We are also tagging mid term trend line.
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  • #4,434
  • Aug 15, 2017 7:56am Aug 15, 2017 7:56am
Quoting Lock
2845 GB upper monthly bracket low. Big volume valley before it at 2851.

1 single pip above it.
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  • #4,435
  • Aug 15, 2017 8:07am Aug 15, 2017 8:07am
Quoting Lock
{quote} 1 single pip above it.
Now 2845 is a weak low as it is a tag of a major reference and a poor low as it has been tagged also by C period. (B C lows back to back)
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  • #4,436
  • Aug 15, 2017 8:11am Aug 15, 2017 8:11am
Quoting Lock
2845 GB upper monthly bracket low. Big volume valley before it at 2851.
Volume profile updated: major big volume valley is now at 28585.
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  • #4,437
  • Aug 15, 2017 10:04am Aug 15, 2017 10:04am
Quoting Lock
{quote} Now 2845 is a weak low as it is a tag of a major reference and a poor low as it has been tagged also by C period. (B C lows back to back)

Tagged again by pit period D. Very weak.
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  • #4,438
  • Aug 23, 2017 9:03am Aug 23, 2017 9:03am
Quoting Lock
Anyhow take note (after 15:30 PM Pit open +1GMT) of the upper double pass pit gap. We currently are below it (28997-2912)
Quoting Lock
2818 lower major composite poc. 2795 absolute upper monthly bracket low (By Tokyo). Currently still testing Pit monthly bracket low as said multiple times (28637) Substantial Pit gap lower building.
After the correction of the double pass pit gap (2997-2912) made during the 18 of August pit session, here we are at the 2795 upper monthly bracket absolute low, testing it.

If price will fail below it we could aim at the next upper major composite poc 2885. In case of acceptation below it we will possibly test the lower monthly bracket highs 27745 (GB) and/or 2758 (Pit)
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  • #4,439
  • Aug 24, 2017 4:53am Aug 24, 2017 4:53am
Quoting Lock
{quote} {quote} After the correction of the double pass pit gap (2997-2912) made during the 18 of August pit session, here we are at the 2795 upper monthly bracket absolute low, testing it. If price will fail below it we could aim at the next upper major composite poc 2885. In case of acceptation below it we will possibly test the lower monthly bracket highs 27745 (GB) and/or 2758 (Pit)
Today Tokyo tested the lower monthly bracket absolute high (GB 27745) and failed below it. Consequently we got a short covering up to the medium composite poc 2822 (far below the upper major composite poc 2885).

Now, we are building a new gap upside for upcoming Pit session (measured from yesterday pit session high at 28065): if this gap will be confirmed and accepted after 15:30+1GMT we could aim at the upper major composite poc 2885*. If instead we will not have a new pit gap upside or if this possible new gap will be rapidly filled after pit open, we could see a new test of the lower monthly bracket highs, meaning 27745 (again) and the lower 2758 (Pit)

*note that in a possible run to 2885 we will have to carefully evaluate the market reaction at 2845 and 28637 that as you know are the 2 lower extremes of the upper monthly bracket. A rejection above one of them could force the market to an other test downside even in case of a new pit gap upside. Furthermore the absolute lower extreme of the upper monthly bracket is 2795: any serious action upside need a clear acceptation above this value, as written multiple times.
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  • #4,440
  • Edited 9:59am Aug 25, 2017 9:39am | Edited 9:59am
Quoting Lock
{quote} Today Tokyo tested the lower monthly bracket absolute high (GB 27745) and failed below it. Consequently we got a short covering up to the medium composite poc 2822 (far below the upper major composite poc 2885).
Quoting Lock
Now, we are building a new gap upside for upcoming Pit session (measured from yesterday pit session high at 28065): if this gap will be confirmed and accepted after 15:30+1GMT we could aim at the upper major composite poc 2885*. If instead we will not have a new pit gap upside or if this possible new gap will be rapidly filled after pit open, we could see a new test of the lower monthly bracket highs, meaning 27745 (again) and the lower 2758 (Pit)
Quoting Lock
*note that in a possible run to 2885 we will have to carefully evaluate the market reaction at 2845 and 28637 that as you know are the 2 lower extremes of the upper monthly bracket. A rejection above one of them could force the market to an other test downside even in case of a new pit gap upside. Furthermore the absolute lower extreme of the upper monthly bracket is 2795: any serious action upside need a clear acceptation above this value, as written multiple times.
2885 tagged at the pipette after the rejection downside below the lows of the upper monthly bracket (2795 absolute low, 2845 GB low, 2863 Pit low.)

Note that this morning we got a triple rejection at 2795 and a full acceptation of all the sessions (Sydney, Tokyo, GB and PreUS) above this value. Furthermore note that yesterday pit session poc developed above this value too.
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