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Lock's Cable Corner

  • #4,801
  • Sep 27, 2017 1:06pm Sep 27, 2017 1:06pm
Session poc migrated higher during the entire pit session. Huge cluster at half back as said and huge cluster at poor high.
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  • #4,802
  • Sep 27, 2017 1:08pm Sep 27, 2017 1:08pm
45° line. Meaning that weak hands continuously bought at half back while the poc after its continuous migration stopped and remained where it was. Dangerous situation for buyers but also extremely weak high.
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  • #4,803
  • Sep 27, 2017 2:34pm Sep 27, 2017 2:34pm
Quoting Lock
E F and G periods' lows all at half back 33925: who do you think is buying there? Watch out!

Eventually all taken out.
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  • #4,804
  • Sep 27, 2017 2:36pm Sep 27, 2017 2:36pm
But now the poc could not move anymore. So we are short in the hole. And with a poor high cluster at 34126.

In any case I'm off for today. have a nice continuation. Best, L.
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  • #4,805
  • Sep 28, 2017 1:25am Sep 28, 2017 1:25am
Quoting Lock
A fast recap: we got an impressive amount of weaknesses, anomalies and poor highs left upside up to 3586 zone. Now, even if this could be read as the auction upside is not completed and could require some sort of excess, at the same time all these poor and weak levels upside could underline the absence, at least at this level, of buyers. When a market is not able to find buyers at a certain level it has to search for them downside.
Quoting Lock
And generally a liquidation is the way a market could obtain such result. So, unless a short covering will start in the next ours the possibility of a substantial liquidation downside is absolutely possible.
And as you see it liquidated all night long.
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  • #4,806
  • Sep 28, 2017 1:55am Sep 28, 2017 1:55am
2017/09/27 THURSDAY 08:55 +1GMT
EARLY MORNING REPORT

So, we are going to open inside yesterday GB range, very close to the composite poc 3397 that attracted weak price action during the entire pit session yesterday. This clearly mean indecision. Waiting for info. So first of all 3397 will remain out most important level until some event will occur. And this is particularly important also because we are before major speeches.

Having said this, we are in a short term trend downside, underlined by last 5 days of one time framing action downside and also by the attempted break below GB last inside week (its low is at 3468 as written infinite times) that for this reason will remain ours second most important info for upcoming action as we need to see acceptation below last inside week to imagine continuation downside.

Then we got a huge amount of weaknesses left upside up to 3586 zone. Now if we will not see continuation downside all what we have up to that level is weak and could be easily retraced and taken out.

On the daily bases consider that yes GB close is at 3340: so any possible retracement upside will require acceptation above this level at least during GB session.

As a finale notation consider that current Tokyo low is poor at 33615. And that we are just above the old GB gap upside starting from 3337 that could attract price action in order to be eventually filled (this in case of continuation downside)
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  • #4,807
  • Sep 28, 2017 2:07am Sep 28, 2017 2:07am
Please note that yesterday GB session was a double distribution trend day. Meaning that we got 2 separate distributions in its profile. When you have such a condition you got to consider each separate distribution as a different session because the clean space between them means change. So the simple fact that we opened inside the lower distribution, considering that GB attempted higher during the entire session is full of meaning. Consequently valuate the reaction of price at the extremes of these separate distribution. 3361-3340 (the lower one) and 3402-3429 (the higher one)
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  • #4,808
  • Sep 28, 2017 2:09am Sep 28, 2017 2:09am
Period A went down 1 single pip above yesterday Gb session low: how do you consider this low now? A good one or a weak one?
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  • #4,809
  • Sep 28, 2017 2:11am Sep 28, 2017 2:11am
Quoting Lock
2017/09/27 THURSDAY 08:55 +1GMT EARLY MORNING REPORT S.... As a finale notation consider that current Tokyo low is poor at 33615. And that we are just above the old GB gap upside starting from 3337 that could attract price action in order to be eventually filled (this in case of continuation downside)
Taken out as the temporary GB weak low: now for continuation we need acceptation below overnight low 33615. If not....
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  • #4,810
  • Sep 28, 2017 2:33am Sep 28, 2017 2:33am
Quoting Lock
2017/09/27 THURSDAY 08:55 +1GMT EARLY MORNING REPORT So, we are going to open inside yesterday GB range, very close to the composite poc 3397 that attracted weak price action during the entire pit session yesterday. This clearly mean indecision. Waiting for info. .
Quoting Lock
So first of all 3397 will remain out most important level until some event will occur. And this is particularly important also because we are before major speeches. ....
Quoting Lock
{quote} Taken out as the temporary GB weak low: now for continuation we need acceptation below overnight low 33615. If not....
So it failed below overnight low 33615 and here we are back to composite poc 3397. The importance of Market Generated Information.

Btw very elongated period A but it is also a good excess below.
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  • #4,811
  • Sep 28, 2017 2:37am Sep 28, 2017 2:37am
clap, clap, clap...
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  • #4,812
  • Sep 28, 2017 2:42am Sep 28, 2017 2:42am
Quoting Lock
Please note that yesterday GB session was a double distribution trend day. Meaning that we got 2 separate distributions in its profile. When you have such a condition you got to consider each separate distribution as a different session because the clean space between them means change.
Quoting Lock
So the simple fact that we opened inside the lower distribution, considering that GB attempted higher during the entire session is full of meaning. Consequently valuate the reaction of price at the extremes of these separate distribution. 3361-3340 (the lower one) and 3402-3429 (the higher one)
Watch out now as we are just below the top of the lower GB distribution that is aso yesterday GB close. Any serious attempt upside requires acceptation above this level.
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  • #4,813
  • Sep 28, 2017 3:28am Sep 28, 2017 3:28am
Quoting Lock
{quote} {quote} Watch out now as we are just below the top of the lower GB distribution that is aso yesterday GB close. Any serious attempt upside requires acceptation above this level.
And again, as written after the early morning report the absence of acceptation above the lower GB distribution, meaning above yesterday GB close 3340, would have blocked any serious continuation upside. And here you are. 3340 even never reached and price went down again.
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  • #4,814
  • Sep 28, 2017 3:31am Sep 28, 2017 3:31am
And I also added this:

Quoting Lock
{quote} {quote} {quote} So it failed below overnight low 33615 and here we are back to composite poc 3397. The importance of Market Generated Information. Btw very elongated period A but it is also a good excess below.
Period A retraced more than 50% but still excess downside. The game is now to understand if current A excess could be preserved or not. If preserved, meaning no further poor low, then we still have odds to retrace back upside. At the contrary if we will see price tagging current low 33483 (so poor low) the odds will be in favor of a new attempt downside.
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  • #4,815
  • Sep 28, 2017 3:43am Sep 28, 2017 3:43am
Quoting Lock
And I also added this: {quote} Period A retraced more than 50% but still excess downside. The game is now to understand if current A excess could be preserved or not. If preserved, meaning no further poor low, then we still have odds to retrace back upside. At the contrary if we will see price tagging current low 33483 (so poor low) the odds will be in favor of a new attempt downside.

And here you are...
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  • #4,816
  • Sep 28, 2017 3:45am Sep 28, 2017 3:45am
Now again, for any serious continuation downside we need to see price accepted below early morning low 33483

And again, if not...
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  • #4,817
  • Sep 28, 2017 3:46am Sep 28, 2017 3:46am
Note anyhow that GB tagged the old Pit poor low at 33435, anticipated yesterday. So it is currently extremely weak.
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  • #4,818
  • Sep 28, 2017 4:03am Sep 28, 2017 4:03am
Also for any serious continuation downside we need acceptation below yesterday GB low 3363 and below overnight low (almost same level)
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  • #4,819
  • Sep 28, 2017 6:01am Sep 28, 2017 6:01am
Quoting Lock
Please note that yesterday GB session was a double distribution trend day. Meaning that we got 2 separate distributions in its profile. When you have such a condition you got to consider each separate distribution as a different session because the clean space between them means change.
Quoting Lock
So the simple fact that we opened inside the lower distribution, considering that GB attempted higher during the entire session is full of meaning. Consequently valuate the reaction of price at the extremes of these separate distribution. 3361-3340 (the lower one) and 3402-3429 (the higher one)
Quoting Lock
Also for any serious continuation downside we need acceptation below yesterday GB low 3363 and below overnight low (almost same level)
While we did not have any form of acceptation below yesterday GB low 3363, at the opposite we got it above it, meaning inside yesterday GB range 3363-3429. So, as normal here we are at the opposite side of it (that by the way is also a poor high)
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  • #4,820
  • Sep 28, 2017 6:07am Sep 28, 2017 6:07am
Now, if price will not be attracted again by composite poc 3397, odds are high for a continuation upside as a short covering, because all the structure coming down up to 3586 is, as written many times, extremely weak.

In any case do not forget the current low 3343 that as written previously is weak as a perfect tag of a previous pit session poor low.
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