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Lock's Cable Corner

  • #4,601
  • Sep 14, 2017 9:16am Sep 14, 2017 9:16am
Quoting a16908
{quote} Is this rise is to fall down below 1.30? What you say?
I illustrated my opinions here with charts. Right now I've not more information than those already expressed. Current high is clearly poor and weak. Structure below is fragile but supported by a new huge gap upside.
Ubi maior minor cessat
  • #4,602
  • Sep 14, 2017 9:24am Sep 14, 2017 9:24am
Quoting Lock
August 2016 high tagged and poor high (33714).
And here we are.
Ubi maior minor cessat
  • #4,603
  • Sep 14, 2017 9:24am Sep 14, 2017 9:24am
This current rise confirms fall below 1.30 next.
  • #4,604
  • Sep 14, 2017 9:28am Sep 14, 2017 9:28am
Quoting Lock
{quote} And here we are.

In case of acceptation above it we could aim at 3424 zone. In case of rejection we could expect some sort of balance before further market decisions. A liquidation is not impossible but the new gap upside is really huge and it clearly will not be easy to fill it at once.
Ubi maior minor cessat
  • #4,605
  • Sep 15, 2017 3:58am Sep 15, 2017 3:58am
Quoting Lock
A fast recap from a top-down perspective. We are in a one timeframing action upside in the last 4 weeks, meaning that we are in a mid term trend upside. All this action occurred after the failed test below 27948 that is the upper monthly bracket low. Then price continued higher and also tested from above the half back of this bracket at 31637 (this week).
Quoting Lock
Yesterday we got a big liquidation of inventories who removed from the market a lot of weak buyers and readjust inventories become to long during previous days. Now, when price fails below a balance (and a monthly bracket is a balance) the natural direction is towards the opposite side of that balance. In this case the opposite side of the balance/bracket is at 35326.
Quoting Lock
So, unless some extraordinary exogenous event this is the current direction on the major scale. ....
And here we are. Just sume pips below 35326. Note that we are testing also the very important reference made by the 2009 Gen low (3503).

Extremely elongated D period that is also the last period for Tokyo participants.
Ubi maior minor cessat
  • #4,606
  • Sep 15, 2017 4:11am Sep 15, 2017 4:11am
I repost here the chart made yesterday here. Followed by current situation.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-15_11-07-05_major scale.png Size: 175 KB
Ubi maior minor cessat
  • #4,607
  • Sep 15, 2017 4:20am Sep 15, 2017 4:20am
I'll be off for some times. See you later and have a nice trading day. Best, L.

PS: acceptation above 35326 is needed for any further continuation upside obviously but watch out as the GB profile is extraordinary elongated.
Ubi maior minor cessat
  • #4,608
  • Sep 18, 2017 1:52am Sep 18, 2017 1:52am
2017/09/18 (08:52+1GMT)
WEEKLY REPORT

On the bigger scale we are in a weekly one time framing action upside, in the last 5 weeks including current one. Price is above 35226 that as written many times in the last weeks is the top of the upper monthly bracket: so we are above a long-mid term reference. For this reason we could elect this level as the most important one for upcoming action.

Other very important levels come from the 2009 lows: from bottom to top they are 1.3503 (GB absolute low for 2009), 1.35467 (Tokyo low) and 1.36065 (Pit low).

So any serious attempt to continue higher will clearly require acceptation above all the underlined levels, specially 35226, the top of the upper monthly bracket. Any failure above these levels could instead lead to a strong liquidation, considering the weak structure supporting this move upside.

Last week price went up supported by 2 gaps one made by GB session up to 3415 and the other one made by pit US (a huge one) up to Friday pit poor low at 35623. Pit US tested above its own 2009 low at 36065 and closed below it at 3589 (current highest close for pit session in 2017) establishing a poor high at 3609.

For upcoming GB session the last week close has been settled at 35757 while the high at 36155. An other important level for GB is clearly its pull back low at 35603.

For any sessions the current major composite poc is at 3584. The upper major composite poc is instead far above at 3766, while the lower one is at 3397.

Probably I'll not be present in market in the next days. Best, L


PS: 36767 is the well known Brexit close price so it could attract price for a test if acceptation above 35226 will be provided by upcoming market action.
Ubi maior minor cessat
  • #4,609
  • Sep 18, 2017 2:17am Sep 18, 2017 2:17am
As just written in the report, 35757 is the last week GB close level(and current GB highest close for 2017) so a serious liquidation will require acceptation below it (and below last week GB unchanged level at 35667). If not we could see a sharp correction upside in order to test the current 2017 GB high at 36155. Remember that in any case volume is needed to evade current major composite poc at 3584.
Ubi maior minor cessat
  • #4,610
  • Sep 20, 2017 3:37am Sep 20, 2017 3:37am
Quoting Lock
As just written in the report, 35757 is the last week GB close level(and current GB highest close for 2017) so a serious liquidation will require acceptation below it (and below last week GB unchanged level at 35667). If not we could see a sharp correction upside in order to test the current 2017 GB high at 36155. Remember that in any case volume is needed to evade current major composite poc at 3584.

And here we are...back to 3584 major composite poc..
Ubi maior minor cessat
  • #4,611
  • Sep 20, 2017 3:42am Sep 20, 2017 3:42am
35757 highest GB close of current year. Any meaningful continuation upside will require acceptation above this level for current GB session.
Ubi maior minor cessat
  • #4,612
  • Sep 20, 2017 3:43am Sep 20, 2017 3:43am
Quoting Lock
2017/09/18 (08:52+1GMT) WEEKLY REPORT ... Other very important levels come from the 2009 lows: from bottom to top they are 1.3503 (GB absolute low for 2009), 1.35467 (Tokyo low) and 1.36065 (Pit low). So any serious attempt to continue higher will clearly require acceptation above all the underlined levels, specially 35226, the top of the upper monthly bracket. Any failure above these levels could instead lead to a strong liquidation, considering the weak structure supporting this move upside. ....
Quoting Lock
PS: 36767 is the well known Brexit close price so it could attract price for a test if acceptation above 35226 will be provided by upcoming market action.
Note, btw, the perfect tag of the 2009 pit low at 36065.

In case of continuation the brexit close at 35226 remains an interesting level to test.
Ubi maior minor cessat
  • #4,613
  • Sep 20, 2017 3:51am Sep 20, 2017 3:51am
D period is very elongated. We are close to the major composite poc 3584 and we are before very important news. So huge volume will be required to evade again this zone. I suggest to be prudent. Rotational environment is more than possible in such conditions unless exogenous events will occur.
Ubi maior minor cessat
  • #4,614
  • Sep 20, 2017 3:53am Sep 20, 2017 3:53am
Quoting Lock
35757 highest GB close of current year. Any meaningful continuation upside will require acceptation above this level for current GB session.
testing it. Watch out.
Ubi maior minor cessat
  • #4,615
  • Sep 20, 2017 4:01am Sep 20, 2017 4:01am
Quoting Lock
{quote} {quote} Note, btw, the perfect tag of the 2009 pit low at 36065. In case of continuation the brexit close at 36767 (sorry for the typo) remains an interesting level to test.
TYPO
Ubi maior minor cessat
  • #4,616
  • Sep 20, 2017 4:03am Sep 20, 2017 4:03am
Note that D period was the last one for today Tokyo participants: and its close is just above the previous highest high for Tokyo during current year (35637)
Ubi maior minor cessat
  • #4,617
  • Sep 20, 2017 4:08am Sep 20, 2017 4:08am
USDX weak low as it is a perfect tag of older gap upside.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-20_11-05-32_USDX weak low.png Size: 24 KB
Ubi maior minor cessat
  • #4,618
  • Sep 20, 2017 4:27am Sep 20, 2017 4:27am
Quoting Lock
2017/09/18 (08:52+1GMT) WEEKLY REPORT ....Other very important levels come from the 2009 lows: from bottom to top they are 1.3503 (GB absolute low for 2009), 1.35467 (Tokyo low) and 1.36065 (Pit low). So any serious attempt to continue higher will clearly require acceptation above all the underlined levels, specially 35226, the top of the upper monthly bracket. .....
Quoting Lock
D period is very elongated. We are close to the major composite poc 3584 and we are before very important news. So huge volume will be required to evade again this zone. I suggest to be prudent. Rotational environment is more than possible in such conditions unless exogenous events will occur.
Quoting Lock
35757 highest GB close of current year. Any meaningful continuation upside will require acceptation above this level for current GB session.
Quoting Lock
{quote} testing it. Watch out.
35326, upper monthly bracket, our major and most important level retested. Note also E period retraced completely the very elongated D period also testing yesterday GB close level at 35156.

Finally note that the liquidation of current E period occurred exactly from 35757. At the pip.
Ubi maior minor cessat
  • #4,619
  • Sep 20, 2017 4:44am Sep 20, 2017 4:44am
I'll be out for a while. For now market is still rotational as expected. Have a nice continuation. Best, L.
Ubi maior minor cessat
  • #4,620
  • Sep 20, 2017 5:08am Sep 20, 2017 5:08am
F inside E inside D: full balance and attempting break below E by current G period. In case of failure in one direction, natural target the opposite side of the balance.
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