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Lock's Cable Corner

  • #4,761
  • Sep 27, 2017 1:47am Sep 27, 2017 1:47am
USDX is building a new gap upside for upcoming GB session. take care of it as, if confirmed, it could influence cable (in the opposite direction obviously)
Ubi maior minor cessat
  • #4,762
  • Sep 27, 2017 1:53am Sep 27, 2017 1:53am
Quoting Lock
2017/09/27 WEDNESDAY 08:19+1GMT EARLY MORNING REPORT ..... In case of continuation downside the next visible levels for GB are composite poc 3397 and old Tokyo poor low at 33816. Also note that from yesterday GB low at 3412 to 3337 14.09 GB high we got an old GAP upside. So, eventually we could see a complete fill of it. Also note that at the bottom of it we got a mini double pass GB gap of a few pips that could be more than interesting for GB participants. ....
Composite poc 3397 reached and 33816 already taken out.
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  • #4,763
  • Sep 27, 2017 2:54am Sep 27, 2017 2:54am
Test below Tokyo low and back up to composite poc 3397. New gap downside still existing but it is a double pass one.
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  • #4,764
  • Sep 27, 2017 2:56am Sep 27, 2017 2:56am
Monitor carefully the possible reaction at 3412 if reached and also 3419. Acceptation above or below these levels will be very important to evaluate current bias of GB participants. For now we only saw short covering of weak Tokyo sellers.
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  • #4,765
  • Sep 27, 2017 2:58am Sep 27, 2017 2:58am
If the new gap will be preserved, at least in part, odds are in favor to a continuation downside. If completely filled 3419 will be crucial to understand if we could have a complete retracement or not.
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  • #4,766
  • Sep 27, 2017 3:25am Sep 27, 2017 3:25am
Quoting Lock
If the new gap will be preserved, at least in part, odds are in favor to a continuation downside. If completely filled 3419 will be crucial to understand if we could have a complete retracement or not.
We could also have some balance anyway. But with a new gap downside preserved (as it is now) and an open well below spike base and yesterday GB close what I can say is that odds to go higher are extremely low unless some exogenous event will trigger change in this direction.
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  • #4,767
  • Sep 27, 2017 3:38am Sep 27, 2017 3:38am
Full balance for now. Watch out in case of break in any direction. D last period of Tokyo.
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  • #4,768
  • Sep 27, 2017 3:49am Sep 27, 2017 3:49am
Quoting Lock
Full balance for now. Watch out in case of break in any direction. D last period of Tokyo.
It is important because during last period generally all day traders close their position to go home flat. And this could create reversals in the opposite direction of the main action occurred during the session.
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  • #4,769
  • Sep 27, 2017 3:51am Sep 27, 2017 3:51am
Again at 3397 composite poc. Poor high.
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  • #4,770
  • Sep 27, 2017 3:59am Sep 27, 2017 3:59am
Now we have mainly GB participant until 14:00+1GMT. Let's see. Poor high but new gap downside still in place.
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  • #4,771
  • Sep 27, 2017 4:08am Sep 27, 2017 4:08am
Quoting Lock
Now we have mainly GB participant until 14:00+1GMT. Let's see. Poor high but new gap downside still in place.
They could decide to take the opportunity to retrace the weak Tokyo action downside. So continue in the current short covering. Or they could decide to continue the attempt downside started yesterday below last week low. Or as a compromise they could remain here in balance at least for a while.
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  • #4,772
  • Sep 27, 2017 4:20am Sep 27, 2017 4:20am
As already written if the new gap will be filled we could have the opportunity to continue higher retracing the weak Tokyo action downside. But in order to get this result we also have to get acceptation back inside yesterday GB range (above yes GB low 3412) and above yesterday GB close (3419). Otherwise the odds are still in favor to a continuation downside or at least to have balance. If instead we will see acceptation above these levels then we could aim at today Tokyo poor high 34493 and then the weak high made by today Sidney high tagging yes pit high at 3462.
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  • #4,773
  • Sep 27, 2017 4:30am Sep 27, 2017 4:30am
You have eyes for levels Lock. Good thread
Numbers NEVER Lie
  • #4,774
  • Sep 27, 2017 5:05am Sep 27, 2017 5:05am
Quoting Lock
..... But in order to get this result we also have to get acceptation back inside yesterday GB range (above yes GB low 3412) and above yesterday GB close (3419). Otherwise the odds are still in favor to a continuation downside or at least to have balance. If instead we will see acceptation above these levels then we could aim at today Tokyo poor high 34493 and then the weak high made by today Sidney high tagging yes pit high at 3462.
Here we are. Let's see. Obviously the gap is no more.
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  • #4,775
  • Sep 27, 2017 5:05am Sep 27, 2017 5:05am
Quoting ZizoFX
You have eyes for levels Lock. Good thread

Thank you very much indeed ZizoFX, you're welcome.
Ubi maior minor cessat
  • #4,776
  • Sep 27, 2017 5:44am Sep 27, 2017 5:44am
Quoting Lock
{quote} We could also have some balance anyway. But with a new gap downside preserved (as it is now) and an open well below spike base and yesterday GB close what I can say is that odds to go higher are extremely low unless some exogenous event will trigger change in this direction.
Quoting Lock
Full balance for now. Watch out in case of break in any direction. D last period of Tokyo.
Quoting Lock
{quote} They could decide to take the opportunity to retrace the weak Tokyo action downside. So continue in the current short covering. Or they could decide to continue the attempt downside started yesterday below last week low. Or as a compromise they could remain here in balance at least for a while.
Quoting Lock
As already written if the new gap will be filled we could have the opportunity to continue higher retracing the weak Tokyo action downside. But in order to get this result we also have to get acceptation back inside yesterday GB range (above yes GB low 3412) and above yesterday GB close (3419). Otherwise the odds are still in favor to a continuation downside or at least to have balance. If instead we will see acceptation above these levels then we could aim at today Tokyo poor high 34493 and then the weak high made by today Sidney high tagging yes pit high at 3462.
As J. Dalton used to say there's nothing more dangerous for a trader to have one single idea. One single plan to act upon. If I had not had at least three scenarios with any probability I would have been overwhelmed by current price action. Knowing that we could have odds to fill the gap and at least trying to test acceptation above yes GB close level saved my day.
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  • #4,777
  • Sep 27, 2017 6:03am Sep 27, 2017 6:03am
2 m30 periods closed above yes GB low and yes GB close. Poor high. Last period is an inside one: so watch out for a new break.
Ubi maior minor cessat
  • #4,778
  • Sep 27, 2017 7:29am Sep 27, 2017 7:29am
Please note that today GB session unchanged is exactly at the same level of yesterday GB unch. around 3419.

Also note that we got an old pit gap at 34055-34094. If it will open below this zone we will have again a new double pass gap. This time a pit one.

So monitor carefully the possibility for a new pit gap downside (meaning open below yes pit low 34094) and the relative possible reaction to it.
Ubi maior minor cessat
  • #4,779
  • Sep 27, 2017 7:45am Sep 27, 2017 7:45am
Note that pit sessions are in one time framing lower action in the last 5 days consecutively. So we currently are in a mid term trend downside.

So, in case of continuation downside next visible weak level is 14.09 pit poor low at 33435. Remember in any case that we are around a major composite poc at 3397: volume required to actually evade it.

Quoting Lock
{quote} And here you are. Overnight retraced all pit session, down to its poor low 3409. (That btw remains poor as only an other pit session could fix it.)
Obviously 3409, yesterday pit poor low will be considered automatically repaired if upcoming pit session will open below it.
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  • #4,780
  • Sep 27, 2017 7:56am Sep 27, 2017 7:56am
Quoting Lock
2 m30 periods closed above yes GB low and yes GB close. Poor high. Last period is an inside one: so watch out for a new break.
Note that the break occurred from this little inside period lasted for almost 40 pips for now. It is clearly a liquidation as we started from a poor high. So consider also this while you're building your possible scenarios.
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