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Lock's Cable Corner

  • #4,681
  • Sep 25, 2017 11:41am Sep 25, 2017 11:41am
Remember that in case of failure downside we will have an asymmetric opportunity in the opposite direction. As we are at the bottom of a minor bracket. And when price fails at a bottom of a bracket the next natural direction is at the opposite side of it.
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  • #4,682
  • Sep 25, 2017 11:43am Sep 25, 2017 11:43am
For now we have 1 period closed below Friday pit low 34495. Remember that acceptation technically happens when at least 2 period close above or below a certain level. And remember also that acceptation is only one information.
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  • #4,683
  • Sep 25, 2017 11:50am Sep 25, 2017 11:50am
Quoting Don96
{quote} you expect to see 1.3511 if no acception below Friday low? and how do you determine your acception below/above?
Hi Don, I consider acceptation in the way Dalton uses to do. Meaning at least a couple of period closed below or above a certain level. If we fail here below Friday pit low I will consider the entire bracket made in the last balancing sessions. So because we are speaking about pit sessions my top is at 36518. But in case of short covering I consider doable at least 3586 zone.
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  • #4,684
  • Sep 25, 2017 11:52am Sep 25, 2017 11:52am
But let's see because the situation here is still developing. And we are in one timeframing lower action in m3o for the last 7 periods (as I consider the initial 3 as going down even if they actually balanced)
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  • #4,685
  • Sep 25, 2017 11:59am Sep 25, 2017 11:59am
Quoting Lock
{quote} Hi Don, I consider acceptation in the way Dalton uses to do. Meaning at least a couple of period closed below or above a certain level. If we fail here below Friday pit low I will consider the entire bracket made in the last balancing sessions. So because we are speaking about pit sessions my top is at 36518. But in case of short covering I consider doable at least 3586 zone.
Hmm so you unless acceptance below 49 you expect 586 from here ?
  • #4,686
  • Sep 25, 2017 12:02pm Sep 25, 2017 12:02pm
Quoting Don96
{quote} Hmm so you unless acceptance below 49 you expect 586 from here ?
I want too see more than the lack of acceptance below 34495 to revert my positions. I want to see great partecipation coming back inside Friday pit session range. Without this I'll remain in shorting. Or, at least, If I'll not see continuation downside, I'll step out for today. But, yes, if the possible coming back inside Fri range will be consistent I'll go long aiming (as a direction) at 3586. Knowing that, in the case, I will scale out at any weaknesses taken out. (see previous posts to know where)
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  • #4,687
  • Sep 25, 2017 12:13pm Sep 25, 2017 12:13pm
Quoting Lock
{quote} I want too see more than the lack of acceptance below 34495 to revert my positions. I want to see great partecipation coming back inside Friday pit session range. Without this I'll remain in shorting. Or, at least, If I'll not see continuation downside, I'll step out for today. But, yes, if the possible coming back inside Fri range will be consistent I'll go long aiming (as a direction) at 3586. Knowing that, in the case, I will scale out at any weaknesses taken out. (see previous posts to know where)
im a bit lost in all the translation of your work, i understand some things, others are not making sense to me, got any books or videos i could use?
  • #4,688
  • Sep 25, 2017 12:25pm Sep 25, 2017 12:25pm
Quoting Don96
{quote} im a bit lost in all the translation of your work, i understand some things, others are not making sense to me, got any books or videos i could use?

If you've already studied the market profile manual edited by CBOT and the classics like Steidlmayer's, Alexander's and Dalton's books, then you can go on with the online huge amount of free registered Jim Dalton's webinars. But even after a first period of study and observation, it will take you months the needed amount of time to appreciate all the nuances of this approach. I hope it could help. Best. L
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  • #4,689
  • Sep 25, 2017 12:27pm Sep 25, 2017 12:27pm
Quoting Lock
{quote} If you've already studied the market profile manual edited by CBOT and the classics like Steidlmayer's, Alexander's and Dalton's books, then you can go on with the online huge amount of free registered Jim Dalton's webinars. But even after a first period of study and observation, it will take you months to appreciate all the nuances of this approach. I hope it could help. Best. L
okay thanks buddy.

i best get to it then

ill keep tuned here.

also do you ever consider other pairs or purely GU?
  • #4,690
  • Sep 25, 2017 12:29pm Sep 25, 2017 12:29pm
Quoting Lock
{quote} I want too see more than the lack of acceptance below 34495 to revert my positions. I want to see great partecipation coming back inside Friday pit session range. Without this I'll remain in shorting. Or, at least, If I'll not see continuation downside, I'll step out for today. But, yes, if the possible coming back inside Fri range will be consistent I'll go long aiming (as a direction) at 3586. Knowing that, in the case, I will scale out at any weaknesses taken out. (see previous posts to know where)
F inside bar of E. Balance. Attempted break above balance. No acceptation below Friday low. A lot of anomalies upside. Poor high. It's an opportunity. If it will fail I'll be off or even short again.
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  • #4,691
  • Sep 25, 2017 12:37pm Sep 25, 2017 12:37pm
Quoting Don96
{quote} okay thanks buddy. i best get to it then ill keep tuned here. also do you ever consider other pairs or purely GU?
Fine, let me know about your progress. About the instrument I prefer to stay on a single market to operate but obviously I'm not trading in a vacuum and I'm much aware of other markets, specially those more related to cable. The fact is that my approach require a substantial knowledge of the market in which I have to operate into and also a full involvement in it. So it took me years to analyze and understand cable, in order to be prepared at the different market participants' behaviors I could actually find month after month year after year. And any single day I spend a substantial amount of time to prepare the different scenarios I could find during the sessions development so, in conclusion, I think it will be actually impossible to dedicate my self to more than one single market in the way I'm currently doing it.
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  • #4,692
  • Sep 25, 2017 12:41pm Sep 25, 2017 12:41pm
Quoting Lock
{quote} Fine, let me know about your progress. About the instrument I prefer to stay on a single market to operate but obviously I'm not trading in a vacuum and I'm much aware of other markets, specially those more related to cable. The fact is that my approach require a substantial knowledge of the market in which I have to operate into and also a full involvement in it. So it took me years to analyze and understand cable, in order to be prepared at the different market participants' behaviors I could actually find month after month year after...
i just got out of a GU long at 1.3433 at 1.3470. ill wait for tomorrow, cheers for your help
  • #4,693
  • Sep 25, 2017 12:46pm Sep 25, 2017 12:46pm
Quoting Lock
{quote} F G inside bar of E F. Balance. Attempted break above balance. No acceptation below Friday low. A lot of anomalies upside. Poor high. It's an opportunity. If it will fail I'll be off or even short again.

Half back reached after the break above G. So an other weak level upside (34763)

PS: sorry for the typo.
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  • #4,694
  • Sep 25, 2017 12:52pm Sep 25, 2017 12:52pm
Quoting Don96
{quote} i just got out of a GU long at 1.3433 at 1.3470. ill wait for tomorrow, cheers for your help
Fine. Good spot. I'm still in because of the weaknesses just above current price location. But let's see. I'm also aware of the USDX situation and of the fact that for now we are watching a short covering. Best, L

PS: you're welcome.
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  • #4,695
  • Sep 25, 2017 12:59pm Sep 25, 2017 12:59pm
Quoting Lock
{quote} Fine. Good spot. I'm still in because of the weaknesses just above current price location. But let's see. I'm also aware of the USDX situation and of the fact that for now we are watching a short covering. Best, L PS: you're welcome.
Still in short?

based on todays action ill be looking for shorts tomorrow, only scalping 10 pips or so though
  • #4,696
  • Sep 25, 2017 1:04pm Sep 25, 2017 1:04pm
Quoting Don96
{quote} Still in short? based on todays action ill be looking for shorts tomorrow, only scalping 10 pips or so though
No way. Still in long. I bought above balance after the failure below Friday low. (at shorts already closed) If it will fail upside I'll be off with a small profit in these last longs.On a major scale if this is a good break below the minor bracket we could see continuation downside next days. But for now I'll not short anymore during a pit session with such huge weaknesses upside. Tomorrow during GB session could be different, but we will see.
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  • #4,697
  • Sep 25, 2017 1:07pm Sep 25, 2017 1:07pm
Btw I went long just some seconds after this if I remember:

Quoting Lock
{quote} F inside bar of E. Balance. Attempted break above balance. No acceptation below Friday low. A lot of anomalies upside. Poor high. It's an opportunity. If it will fail I'll be off or even short again.
Ubi maior minor cessat
  • #4,698
  • Sep 25, 2017 1:19pm Sep 25, 2017 1:19pm
Note that we got for now a double distribution trend day (downside) The 2 distributions are clean for now, meaning that we got space (single prints) between them. So if these 2 distributions will remain like that for a substantial amount of time, a new liquidation will not be impossible. In any case I will not part of it as I'm really tired right now. So I'll leave my longs on with SL at BE (That I generally never do) and I'm off for today. Have a nice continuation, Best, L.
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  • #4,699
  • Sep 26, 2017 1:24am Sep 26, 2017 1:24am
USDX situation.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-26_8-19-35_USDX.png Size: 49 KB
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  • #4,700
  • Sep 26, 2017 2:00am Sep 26, 2017 2:00am
3503 (GB 2009 low) and yes GB close 3453 main levels for current session.
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