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Lock's Cable Corner

  • #3,941
  • Mar 27, 2017 8:47am Mar 27, 2017 8:47am
Quoting Lock
2017/03/27 MONDAY 13:15 +1GMT EARLY AFTERNOON REPORT ....In this case the next natural target will be the filling of the double pit pass gap at 25955-2613 and eventually the filling of the entire gap downside 25645-2613. ...
Note that pit session opened with a very important gap upside from Friday pit session high at 2508 and exactly inside the old double pass pit gap 25955-2613. Generally in these cases this zone should be filled before to proceed in any direction. Note anyway that the 3 poor highs are already corrected just at open. So the risk of a liquidation is not impossible.
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  • #3,942
  • Mar 27, 2017 9:33am Mar 27, 2017 9:33am
Quoting Lock
2017/03/27 .... For upcoming pit session the game will be played around the 3 poor highs I was speaking about previously: if pit will open below them, the probability to test them from below will be very high. If instead pit session will open above them then we will consider all of them already corrected at open. In this case the next natural target will be the filling of the double pit pass gap at 25955-2613 and eventually the filling of the entire gap downside 25645-2613....
Currently clearly filling the old gap as expected. Now poor low. Do not forget that this is a liquidation, meaning old business, not new money selling. So watch out after its completion. It could sharply retrace in the direction of the upper short term trend.
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  • #3,943
  • Mar 27, 2017 9:35am Mar 27, 2017 9:35am
25645-2613 old gap filled right now.
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  • #3,944
  • Mar 27, 2017 9:47am Mar 27, 2017 9:47am
Quoting Lock
25645-2613 old gap filled right now.
Note that the filling of the gap is very exact (at the pip) maybe too exact. Generally these games are performed by weak hands not strong money. So watch out if you will not see continuation upside because it could retrace again in order to remove current weak low.
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  • #3,945
  • Mar 27, 2017 9:48am Mar 27, 2017 9:48am
If instead you will see balance or even acceleration upside you may expect a full retracement of all the initial pit liquidation and eventually the filling of tha last portion of the upper double pass pit gap, up to 2613.
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  • #3,946
  • Mar 29, 2017 2:01am Mar 29, 2017 2:01am
So the price is about to test poor lows below weekly bracket near 2350, right?
  • #3,947
  • Mar 29, 2017 2:03am Mar 29, 2017 2:03am
I post here the TPO tool settings for current DST. It can show correctly from Monday. The attached settings works for +2GMT. If you have a GMT >2 add an hour to any time session for any +1 of your GMT.
Attached File(s)
File Type: zip TPO DST after 2017_03_24.zip   < 1 KB | 819 downloads
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  • #3,948
  • Mar 29, 2017 2:04am Mar 29, 2017 2:04am
Quoting nixdem
So the price is about to test poor lows below weekly bracket near 2350, right?
Hi Nixdem, I'm going to post a report asap. As an anticipation note that we are very close to a lot of major half backs and current GB opened with a huge gap downside from ysterday GB low. Best L.
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  • #3,949
  • Mar 29, 2017 2:15am Mar 29, 2017 2:15am
2017/03/29 WEDNESDAY +09:15+1GMT
MORNING REPORT

We are in a monthly and weekly balance. The last one timeframing higher action occured in the past 9 days untill Monday included has been interrupted yesterday with a substantial liquidation back to the composite poc at 2481. Then it continued even lower below the comp poc. I consider this action downside as a liquidation because I saw a lot of motion going down and the pit profile from yesterday is full of anomalies. This does not mean it cannot continue lower. But at least it means that those whho leaded this action are not the strongest participants in the market.

GB session opened with a huge gap downside from yesterday GB low at 25495. Such a gap is very rarely retraced in the first day. So even in the case of correction upside I do not think such a correction could cover more than a partial portion of the gap.

Note that we are around 24072 that is the last GB move down from 02.02.2017 to 14.03.2017 HALF BACK. This is a very important reference for short and mid term traders. Note also that not so far below this level we also have an other very important major half back at 2396 (entire GB action downside half back from 06.12.2016 to 16.01.2017). Serious continuation downside could only happen if we will see acceptation below these levels.

In case of continuation downside, note that we have a substantial amount of major references like 23465 2017.02.07 GB weekly bracket low, followed by GB 2017 year open at 23395 and the GB poor low at 23333 that is also the top of the old GB gap upside. Nixdem underlined the fact that the test of the weekly bracket low is possible and I totally agree with him. In order to do so anyway we need as said acceptation below the major half backs underlined previously.
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  • #3,950
  • Mar 29, 2017 2:27am Mar 29, 2017 2:27am
Unfortunately it is possible that I could not be able to follow upcoming action. So I'll update asap. Best L.
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  • #3,951
  • Mar 29, 2017 6:35am Mar 29, 2017 6:35am
Quoting Lock
2017/03/29 WEDNESDAY +09:15+1GMT MORNING REPORT We are in a monthly and weekly balance. The last one timeframing higher action occured in the past 9 days untill Monday included has been interrupted yesterday with a substantial liquidation back to the composite poc at 2481. Then it continued even lower below the comp poc...
Quoting Lock
I consider this action downside as a liquidation because I saw a lot of motion going down and the pit profile from yesterday is full of anomalies. This does not mean it cannot continue lower. But at least it means that those who leaded this action are not the strongest participants in the market.

Quoting Lock
GB session opened with a huge gap downside from yesterday GB low at 25495. Such a gap is very rarely retraced in the first day. So even in the case of correction upside I do not think such a correction could cover more than a partial portion of the gap.
Quoting Lock
Note that we are around 24072 that is the last GB move down from 02.02.2017 to 14.03.2017 HALF BACK. This is a very important reference for short and mid term traders. Note also that not so far below this level we also have an other very important major half back at 2396 (entire GB action downside half back from 06.12.2016 to 16.01.2017). Serious continuation downside could only happen if we will see acceptation below these levels.[/highlight]...

GB session periods A and B clearly rejected below our second major short term reference at 2396 (no acceptation below this level meaning no GB periods closed below it) and consequently, considering the overall inventories clearly very short, a short covering started from there as normal. This correction upside as expected could not retrace the entire huge gap downside at once and right now, before the last GB period we are still below the composite poc at 2481.

Now we have to see the reaction of the preUS open at 14:00+1GMT and more than this we have to see where upcoming pit session will open in relation to composite poc at 2481 and in relation to yesterday range (24405-2556). An open below yesterday range will create a new gap downside and this could let the market skip the great amount of anomalies left above during yetserday pit liquidation. An open inside yes range could instead let the market retrace and correct at least some of yesterday weak money going down.

In any case what we wrote about GB session remains the same also for upcoming pit session: we are very close to the major half backs at 24065 and 23975. A serious continuation downside could only happen after an acceptation below them. If not we could see a substantial correction upside at least up to composite poc 2481.
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  • #3,952
  • Mar 29, 2017 6:43am Mar 29, 2017 6:43am
About upcoming pit session we could also have 2 other senarios (in case of failure below the major half backs):

  1. a substantial balance around composite poc 2481 because we are very close to it and it generally tends to attract price specially in case of weak partecipation.
  2. A full correction of yesterday liquidation going higher to take out the poor high at 2556 (yesterday pit range high) and preUS poor high just above it at 2563.

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  • #3,953
  • Mar 29, 2017 7:26am Mar 29, 2017 7:26am
24437 as written many times in the last weeks is a very important short/mid term level: it is the high of the first inside week (week balance) after the break of 02.10.2016. It is important because as happened in the last weeks, an acceptation below this level will let the market test again the low of that initial weekly balance (down to 20886) while a rejection below it could let the market test again upside in the direction of the top of the upper weekly balance (27057)
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  • #3,954
  • Mar 29, 2017 7:27am Mar 29, 2017 7:27am
Very elongated A period.
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  • #3,955
  • Mar 29, 2017 8:32am Mar 29, 2017 8:32am
Pit session opened gapping lower and inside the previous gap higher 2017.03.20-21 (2396-24233), just above the major half back 24065. It could fill this old gap upside down to 2396 after a test belo 24065. Or it could retrace some upside before and then perform the test lower.
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  • #3,956
  • Edited 9:12am Mar 29, 2017 9:02am | Edited 9:12am
Yesterday pit rally high is at 24615 and it substantially coincides with today preUS high and tonight Tokyo high. Sydney high (sorry for the imprecision) Acceptation above it could indicate a change (meaning the possibility to seriously continue higher). If instead price will never get it or if got it never accepted above it, then we will not have change and a continuation upside will be very improbable.
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  • #3,957
  • Mar 29, 2017 9:04am Mar 29, 2017 9:04am
In any case note that currently it filled the new gap downside and before to even think at yesterday rally high we need to be accepted inside yesterday pit range (above 24405) and above the mjor ref 24437.
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  • #3,958
  • Mar 29, 2017 9:05am Mar 29, 2017 9:05am
Quoting Lock
Very elongated A period.
Note that 70% of preUS period A has been retraced as normal considering its extreme elongation downside.
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  • #3,959
  • Mar 29, 2017 9:19am Mar 29, 2017 9:19am
Current high at 2441 is weak as it is only less than a pip above yesterday pit low: carry this info forward.
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  • #3,960
  • Mar 29, 2017 10:00am Mar 29, 2017 10:00am
CLuster poor low at open price
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