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Lock's Cable Corner

  • #5,621
  • Nov 28, 2017 11:15am Nov 28, 2017 11:15am
Remember that if reached, 3402 is the absolute high of the inside month. So, there, again, we could find mid term operators, sellers or buyers.
Ubi maior minor cessat
  • #5,622
  • Nov 28, 2017 11:17am Nov 28, 2017 11:17am
Recap:

  1. 3327 inside month pit high
  2. 33652 inside month GB high
  3. 3402 inside month absolute high (Sydney)

Ubi maior minor cessat
  • #5,623
  • Nov 28, 2017 11:19am Nov 28, 2017 11:19am
Quoting Lock
Current period is an inside one: balance rules apply. Watch out.
Attempted break above inside period.
Ubi maior minor cessat
  • #5,624
  • Nov 28, 2017 11:21am Nov 28, 2017 11:21am
In case of failure of this attempted break above inside period next direction is clearly the opposite side of the balance: 3308.
In case of success we could aim at 3402 to test it.
Ubi maior minor cessat
  • #5,625
  • Nov 28, 2017 11:31am Nov 28, 2017 11:31am
Quoting Lock
{quote} Stop hunting with more than 100pips of retracement from higher level. I repeat it here: for any serious participation of bigger timeframes we need acceptation above pit inside month high 3327.
We got acceptation above 3327 (2 periods closed above it)
Ubi maior minor cessat
  • #5,626
  • Nov 28, 2017 11:34am Nov 28, 2017 11:34am
Quoting Lock
{quote} We got acceptation above 3327 (2 periods closed above it)
Obviously this is a prerequisite for their participation (bigger term operators) on the long side, not a warranty.
Ubi maior minor cessat
  • #5,627
  • Nov 29, 2017 12:31am Nov 29, 2017 12:31am
Quoting Lock
Recap: 3327 inside month pit high 33652 inside month GB high 3402 inside month absolute high (Sydney)
33652 and 3402 are the most important levels for current GB session: the first one is the GB inside month high while the second one is the absolute high of the inside month made by a Sydney session.

We are watching an attempted breakout from inside month, meaning from monthly balance. Balance rules apply here.

Clearly for any serious continuation upside acceptation above both of them (specially the second one), is fundamental.

A first clue is given by the new GB gap upside from yesterday GB high 33353: if it will not retraced quickly it could work as a fine support. Note that current GB high is tagging a previous Tokyo poor high 34295, so it is extremely weak.
Ubi maior minor cessat
  • #5,628
  • Nov 29, 2017 6:19am Nov 29, 2017 6:19am
Quoting Lock
{quote} 33652 and 3402 are the most important levels for current GB session: the first one is the GB inside month high while the second one is the absolute high of the inside month made by a Sydney session. We are watching an attempted breakout from inside month, meaning from monthly balance. Balance rules apply here. Clearly for any serious continuation upside acceptation above both of them (specially the second...

Now, for current preUS and upcoming pit session the most relevant levels are clearly 3327 and 3402. Plus yesterday pit high 33875 from which for now price is building a possible new gap upside.
Ubi maior minor cessat
  • #5,629
  • Nov 29, 2017 6:51am Nov 29, 2017 6:51am
Next visible mid term level, in the case of continuation upside (meaning if the new pit gap upside will resist like now) is 3444. Before it we have the very weak GB high, tagging a previous Tokyo poor high at 34295.

If instead we will see price retrace the new pit gap and find acceptation inside yes pit session range we could aim at 3232 tonight Tokyo poor low and eventually a re test of monthly pit high 3227.
Ubi maior minor cessat
  • #5,630
  • Nov 29, 2017 6:52am Nov 29, 2017 6:52am
PS: note the struggle at 3402 absolute inside month high as expected.
Ubi maior minor cessat
  • #5,631
  • Nov 29, 2017 7:50am Nov 29, 2017 7:50am
Quoting Lock
PS: note the struggle at 3402 absolute inside month high as expected.
Note price still up and down 3402 after news...
Ubi maior minor cessat
  • #5,632
  • Nov 29, 2017 8:26am Nov 29, 2017 8:26am
Quoting Lock
Next visible mid term level, in the case of continuation upside (meaning if the new pit gap upside will resist like now) is 3444. Before it we have the very weak GB high, tagging a previous Tokyo poor high at 34295.

If instead we will see price retrace the new pit gap and find acceptation inside yes pit session range we could aim at 3232 tonight Tokyo poor low and eventually...
Price filled the new pit gap upside down to 33875 but did not find acceptance inside yesterday pit session range (below 33875). Consequently it started to rally and already removed the very weak GB high tagging previous Tokyo poor high at 34295. And we are now only some pips below 3444
Ubi maior minor cessat
  • #5,633
  • Nov 29, 2017 8:28am Nov 29, 2017 8:28am
3444 here we are: now for any meaningful continuation we need acceptation above it. If so next visible level is 3503 but we have a big volume valley at 3461.

If no acceptance above 3444 watch out for correction downside.
Ubi maior minor cessat
  • #5,634
  • Nov 29, 2017 9:02am Nov 29, 2017 9:02am
inside period: balance rules apply. Watch out. Poor high. No acceptation for now above 3444. Conflicting information here.
Ubi maior minor cessat
  • #5,635
  • Nov 29, 2017 9:29am Nov 29, 2017 9:29am
Quoting Lock
inside period: balance rules apply. Watch out. Poor high. No acceptation for now above 3444. Conflicting information here.
Break downside from inside period balance failed: here we are at the opposite side of it. Again at 3444. This was tricky.
Ubi maior minor cessat
  • #5,636
  • Nov 30, 2017 6:33am Nov 30, 2017 6:33am
Pit session opened gapping higher from yesterday pit session high level 3448: if this gap will be preserved odds are in favor to a continuation upside. next visible level 3503. If instead the new pit gap upside will be quickly retraced and acceptation found back inside yesterday pit session range (below 3448) then we could see a substantial liquidation downside. In which case we have 2 back to back Tokyo poor lows at 3409 and 3352.

As support we have 3444, next visible level downside.
Ubi maior minor cessat
  • #5,637
  • Nov 30, 2017 6:43am Nov 30, 2017 6:43am
In case of continuation upside (acceptation above 3503 if reached, obviously), note the old pit poor high from 09.25 at 3522.
Ubi maior minor cessat
  • #5,638
  • Nov 30, 2017 6:48am Nov 30, 2017 6:48am
First step to reach 3503 is acceptation above overnight high (current Tokyo high at 3480) Watch out if not obtained.
Ubi maior minor cessat
  • #5,639
  • Nov 30, 2017 7:01am Nov 30, 2017 7:01am
Quoting Lock
First step to reach 3503 is acceptation above overnight high (current Tokyo high at 3480) Watch out if not obtained.
One single pip shy of it. Very exact. maybe too much.
Ubi maior minor cessat
  • #5,640
  • Nov 30, 2017 7:11am Nov 30, 2017 7:11am
Quoting Lock
{quote} One single pip shy of it. Very exact. maybe too much.
And in fact we are above it now. Let's see if it will get 3522.
Ubi maior minor cessat
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