Lock's Cable Corner

Quoting Lock

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{quote} Note GB action starting with a new gap downside from yesterday GB low 3010 For any serious continuation downside as said many times we need acceptation below 2985-89, below 2954 and clearly we do not want to see the new GB gap downside retraced.

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Quoting Lock

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{quote} We got acceptation below 2985-89 and note the perfect tag of B period at 2985. In any case we did not test 2954 yet. And B period is an inside one: balance rules apply.

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Quoting Lock

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{quote} We got acceptation below 2985-89 and note the perfect tag of B period at 2985. In any case we did not test 2954 yet. And B period is an inside one: balance rules apply.

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Quoting Lock

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We want to stay above open and above yesterday GB close 3011: and we need it quickly. So monitor carefully for continuation.

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Quoting Lock

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A safe structural place to put a stop is right below 2985. Because you do not want to see price below it again if this is a serious attempt upside.

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Quoting Lock

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{quote} I mean, if we see price fail above them (or 3011 not quickly reached) we risk a new reverse downside to retest 2954, considering also the poor low we left downside at 29705.

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Quoting Lock

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{quote} Attempted rally upside from balance: now, monitor for acceptation above 2985-89. If this is serious we want to see a full correction of overnight activity up to 3010

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Quoting Lock

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Again, D period is inside C: balance rules apply. No acceptation above open. B period low at half back. Acceptation above major refs 2985-89. poor low at 29705. New GB gap downside still in place.

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Quoting Lock

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Note overnight action toward 2985 major GB ref. Now, for upcoming GB session 2985 and 2989 (Thursday spike base) are crucial as it could be 2954 if reached.

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Quoting Lock

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The fact is that we left upside huge weaknesses, starting with yesterday US 3020 and PIT 3016 poor highs made during bank holiday to end up to 3054 yesterday Sydney weekly poor high. So watch out because if we will no find acceptation below those major GB refs, the upper weaknesses are almost sure, today or in the next sessions.

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Quoting Lock

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In any case monitor carefully for a possible new Gb gap downside from yesterday GB low 3010 and note that GB close is just a pip above it at 3011: any serious attempt upside will need acceptation above them. If not, even considering the weaknesses left above we could see continuation downside, at least for today.

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Quoting Lock

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..... Yesterday GB attempted higher with a new spike test (spike base 30015) and then closed at 30165: these are the daily references. ... I suggest to be extremely prudent as we clearly are in a balance environment ruled by very weak buyers and sellers.

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Quoting Lock

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..... Finally there is also 2989 that is 02_13 GB spike test base. ....

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Quoting Lock

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Price is currently above 2985 and 2954 the two major GB references as they are both very important monthly breakout levels.....

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