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Lock's Cable Corner

  • #4,321
  • May 19, 2017 7:14am May 19, 2017 7:14am
Because we are around yesterday Pit open I repost here what I wrote at that moment in time.

Quoting Lock
Pit session opened with a gap higher from yesterday pit high 29905. If the gap will not be retraced quickly we could attempt the fill of the old gap downside, up to 30648 and eventually up to composite poc 3084. ....
Currently we are still inside yesterday pit range 28777-3029 so I suggest to carefully monitor for upcoming pit session open level if above or below yesterday pit high 3029. Remember that the old gap downside 3029-30648 included an old double pass pit gap just above the go/no go level 30465. This double pass could attract price. Remember that the go/no go 30465 worked fine yesterday but it was a very exact reference. So it is weak right now. Finally remember the old Tokyo poor high at 30473.

Again, in case of liquidation our major composite pos 2968 is the safest place to come back to.
Ubi maior minor cessat
  • #4,322
  • May 19, 2017 9:29am May 19, 2017 9:29am
Note price up and down open level numerous times at 3019. Note also the 3 bounces at preUS open 30105 and the current pit high just 1 single pip below yesterday pit high 3029: weak market totally controlled by weak hands for now. Extremely narrow range: it should move from here.
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  • #4,323
  • May 23, 2017 2:36am May 23, 2017 2:36am
Yesterday GB session was inside Friday GB session that was inside Thursday GB session. You just saw the first attempted breakout downside. The fact is that this attempt stopped exactly 1 single pip above Friday GB session low 29505 that was already extremely weak by itself, as it was a perfect tag of Thursday GB open level. So, even if this attempt downside clearly has been rejected, remember that current low is now very weak.

Now, generally when price fails in one direction during an attempted breakout from balance, the natural direction is the opposite extreme of the balance from which price attempted to break first. In this case because it failed below balance, we might expect to go in the direction of the opposite side of that bal., meaning 30473, the top of the 3 sessions balance .
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  • #4,324
  • May 23, 2017 3:20am May 23, 2017 3:20am
Note also A period high (current GB high) exactly at yesterday GB open 29995 (plus less than 1 pip below round 3000). Current price action is clearly ruled by weak hands participants.
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  • #4,325
  • May 23, 2017 4:39am May 23, 2017 4:39am
Quoting Lock
Note also A period high (current GB high) exactly at yesterday GB open 29995 (plus less than 1 pip below round 3000). Current price action is clearly ruled by weak hands participants.
And here we are again: note that B period was inside A period. So C attempted below B balance, failed and the natural direction was at that moment in time the opposite side of B period. As you see the balance rule applies in any timeframe.
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  • #4,326
  • May 23, 2017 4:40am May 23, 2017 4:40am
Very weak market for now.
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  • #4,327
  • Jun 2, 2017 7:39am Jun 2, 2017 7:39am
Quoting Lock
Very weak market for now.
Lock, where you at, man?
  • #4,328
  • Jun 2, 2017 1:24pm Jun 2, 2017 1:24pm
Quoting nixdem
{quote} Lock, where you at, man?
Hi Nixdem, I'm doing nothing but reading and studying, waiting for election outcomes. Best L.
Ubi maior minor cessat
  • #4,329
  • Edited 2:31am Jun 12, 2017 1:48am | Edited 2:31am
17/06/12 MONDAY 08:48+1GMT (UPDATED UNTILL 9:30)
WEEKLY REPORT

After a substantial pause caused by the total lack of interest of major timeframes in this market I will try to analize current environment in order to underline possible changes from previous situation.

MONTHLY SITUATION
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WEEKLY SITUATION
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DAILY SITUATION
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DAILY GB SESSION SITUATION
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CURRENT GB SESSION SITUATION
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Ubi maior minor cessat
  • #4,330
  • Jun 12, 2017 3:08am Jun 12, 2017 3:08am
Note 27345 Friday GB close. Acceptation above or below it will be the next relevant information for current session.
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  • #4,331
  • Jun 12, 2017 3:14am Jun 12, 2017 3:14am
2706 was Friday pull back low test as Friday session was a trending upside one (even as short covering): this is an other turning point for current session development. Acceptation above or below it could be significant.
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  • #4,332
  • Jun 12, 2017 3:17am Jun 12, 2017 3:17am
Note that current GB action is occurring inside the triple pass GB gap already mentioned in the report. C low is currently exactly tagging its lower extreme. The gap as written is already filled by Friday action but as it was a very important zone current market is retesting it.
Ubi maior minor cessat
  • #4,333
  • Jun 12, 2017 4:41am Jun 12, 2017 4:41am
Quoting Lock
2706 was Friday pull back low test as Friday session was a trending upside one (even as short covering): this is an other turning point for current session development. Acceptation above or below it could be significant.
And here we are.
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  • #4,334
  • Jun 12, 2017 10:06am Jun 12, 2017 10:06am
Price is in between 2 gaps: The new pit gap downside from Friday pit low at 27055 and the old one upside from pit high 25955 (2017/04/17). Currently we also got a poor high at 26835 and a poor low at 2650 even. Note also the old triple pass pit gap at 26093-2613 inside the mentioned lower gap.

So we have various scenarios here:

  1. going upside filling the new gap downside and continue higher back inside Friday range up to its range extreme 27485.
  2. going upside filling the new gap downside and retrace back downside immediately after this fill.
  3. leave the new gap downside unfilled, at least partially, and continue lower to fill the old triple pass pit gap at 26093-2613 and maybe the entire lower gap down to 25955.
  4. finally we could remain here in balance waiting for more info.

Ubi maior minor cessat
  • #4,335
  • Jun 12, 2017 10:14am Jun 12, 2017 10:14am
Note also that Friday pit low at 27055 is the old initial pit highest level for current year (2017/02/01). So acceptation above or below this level will be very significant.
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  • #4,336
  • Jun 12, 2017 10:36am Jun 12, 2017 10:36am
D period inside C: attempted breakout downside from D balance.
Ubi maior minor cessat
  • #4,337
  • Jun 12, 2017 10:42am Jun 12, 2017 10:42am
In case of success of current breakout the next visible level is clearly the current poor low at 2650 even and then the 26345 major pit level followed by the early mentioned triple pass gap at 26093-2613. In case of failure instead the next visible level will be the opposite side of D balance and then, eventually the current poor high at 26835. But let's see.
Ubi maior minor cessat
  • #4,338
  • Jun 12, 2017 10:45am Jun 12, 2017 10:45am
TYPO
Quoting Lock
Note also that Friday pit low at 27055 is the old initial GB (not Pit as I wrote) highest level for current year (2017/02/01). So acceptation above or below this level will be very significant.
The old highest pit level for current year is infact the D period high at 26793 (made during 2017/02/01, the same day of the GB old highest level at 27055): consequently acceptation or rejection below this level is more important right now as we are inside a pit session.
Ubi maior minor cessat
  • #4,339
  • Jun 12, 2017 10:54am Jun 12, 2017 10:54am
Quoting Lock
In case of success of current breakout the next visible level is clearly the current poor low at 2650 even and then the 26345 major pit level followed by the early mentioned triple pass gap at 26093-2613. In case of failure instead the next visible level will be the opposite side of D balance and then, eventually the current poor high at 26835. But let's see.
Poor low taken out. Now let's see if it is able to continue lower or if it will return in balance.
Ubi maior minor cessat
  • #4,340
  • Jun 14, 2017 7:00am Jun 14, 2017 7:00am
Monday was an inside GB session (inside previous Friday GB session). Yesterday (Tuesday GB session) opened below Monday GB range and immediately came back inside Monday range closing inside it. Today GB session opened well above yesterday GB range and immediately started to fill the new gap uspide: we are currently at yesterday GB unch level 2731.

Now, upcoming Pit session will find a poor pit high left yesterday at 2756 and a triple pass gap at 26805-27055. These two zones could attract price in order to correct them. Note that today GB session bounced exactly at the absolute high of the lower monthly bracket 2795. Note also that the highest pit high for this lower monthly bracket is at 2758, only a couple of pips above yesterday pit poor high at 2756.

We have 3 major composite pocs in this zone that are: 2731, 2822 and 2672.
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