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Lock's Cable Corner

  • #6,441
  • Feb 19, 2020 7:43am Feb 19, 2020 7:43am
Quoting Lock
Well, in any case: for upcoming preUS refs are yesterday pit unch 29965 and obviously 2972 and 2975.
Testing 2975
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  • #6,442
  • Feb 19, 2020 7:47am Feb 19, 2020 7:47am
Quoting Lock
{quote} 29705 in my opinion is now almost sure because we have2 back to back poor lows: the problem is what we will find below it. Balance rules apply.
Again here, as expected. But now we have US participants: watch out as we are tasting major refs here (2972-75)
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  • #6,443
  • Feb 19, 2020 8:06am Feb 19, 2020 8:06am
Quoting Lock
{quote} 29705 in my opinion is now almost sure because we have2 back to back poor lows: the problem is what we will find below it. Balance rules apply.
Eventually taken out: now monitor for acceptation or rejection below 2972-75
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  • #6,444
  • Feb 19, 2020 8:15am Feb 19, 2020 8:15am
IF this is a real break downside (acceptation from upcoming PIT session below 2972-75 needed) we could aim at 29065 and 2881. If not we could retrace up to yesterday low 29945.
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  • #6,445
  • Feb 19, 2020 8:17am Feb 19, 2020 8:17am
2954 is major Gb ref: even though we have US participants we still have GB ones into the market. Acceptation bolow it needed too.
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  • #6,446
  • Feb 19, 2020 9:38am Feb 19, 2020 9:38am
2942 pit inside week high (last year before major rally): acceptation needed below it for continuation.
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  • #6,447
  • Feb 19, 2020 10:03am Feb 19, 2020 10:03am
Now, it bounced one single pip above GB December low 2922 and went up exactly to 2954 major GB ref. It looks like GB participants' action. The last pit ref to consider is still 2942. If the rejection below it will be confirmed make your decision with respect for it if not it means it is not over.
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  • #6,448
  • Feb 19, 2020 10:32am Feb 19, 2020 10:32am
D period can be considered an inside one:balance rules apply
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  • #6,449
  • Feb 19, 2020 11:08am Feb 19, 2020 11:08am
Quoting Lock
Now, it bounced one single pip above GB December low 2922 and went up exactly to 2954 major GB ref. It looks like GB participants' action. The last pit ref to consider is still 2942. If the rejection below it will be confirmed make your decision with respect for it if not it means it is not over.
The importance of market generated information...
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  • #6,450
  • Feb 19, 2020 11:10am Feb 19, 2020 11:10am
Quoting Lock
D period can be considered an inside one:balance rules apply
Again: the importance of market generated info.
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  • #6,451
  • Feb 19, 2020 11:13am Feb 19, 2020 11:13am
Now those who bought automatically just above 2922, if tested, could be forced to sell...
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  • #6,452
  • Feb 19, 2020 12:18pm Feb 19, 2020 12:18pm
More than 3 hours ago I wrote:

Quoting Lock
IF this is a real break downside (acceptation from upcoming PIT session below 2972-75 needed) we could aim at 29065 and 2881. If not we could retrace up to yesterday low 29945.
We get acceptation and here we are just above the first weakness to correct. I've to be honest: it's not easy. But if you observe and appreciate market generated information at least you have an edge.

Currently too many anomalies left upside. I'm off. I'm not saying is over, I'm saying is over for me today.
Have a nice continuation.
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  • #6,453
  • Feb 20, 2020 12:28am Feb 20, 2020 12:28am
Again: GB will open again below 2954 January inside month low? If so we will have an other attempted break from balance: the second one this month.

As a consequence the go-no go levels remain exactly the same of the last days:

  1. 2954 GB January inside month low.
  2. 2898 the last GB inside week high of 2019 before the major rally that almost coincides with Dec 2019 low 2896*.
  3. 2872-3 that is the almost perfect tag of GB session 02.10 of Asia 02.10 low (current Feb low).


Now: for any serious continuation downside we need a clear acceptation below all of these levels. And note that because they all are major references they all can produce fast and strong move when and if intercepted.

And as a first step, in order to continue lower, we need acceptation below yesterday GB close 29335.

Finally consider this: a new possible big GB gap downside from yesterday GB low 2973 could be at today GB open: this means that we will have a triple pass GB gap left just below 2954 at 2946-52.
So watch out as if we will not find acceptation below 2896-98 odds will be in favor to a correction of that multi pass gap and a new test of 2954

*for unknown reasons the GB Dec low was incorrect in my previous posts: 2896 is the correct level.

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  • #6,454
  • Feb 20, 2020 12:53am Feb 20, 2020 12:53am
If I'm not wrong, 29055 is the lowest GB close of February: take not of it as it could play a role in today GB action.
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  • #6,455
  • Feb 20, 2020 2:02am Feb 20, 2020 2:02am
So it opened just above 2896-8 and start testing them. Note the new big GB gap downside.
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  • #6,456
  • Feb 20, 2020 5:47am Feb 20, 2020 5:47am
We are below all major GB refs and we got acceptation back inside Nov '19 monthly range. The new substantial gap downside has been preserved. All pit major refs are far above (2909, 2942, 2972-75). If GB will remain below its main refs and if Pit will not retrace enough to gain acceptation above its refs, odds are in favor for continuation toward No '19 low (GB 2793 and Pit 27687.)

In any case watch out as the new GB triple pass gap is a serious issue at 2946-52
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  • #6,457
  • Feb 20, 2020 5:49am Feb 20, 2020 5:49am
As a first step, let's see if pit will open with a new gap downside from yesterday pit low 2907.
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  • #6,458
  • Feb 20, 2020 5:53am Feb 20, 2020 5:53am
Quoting Lock
If I'm not wrong, 29055 is the lowest GB close of February: take not of it as it could play a role in today GB action.
Please note that this main action downside originates just a couple of pips above 29055...
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  • #6,459
  • Feb 20, 2020 5:55am Feb 20, 2020 5:55am
Period H is going to be an inside one? If so balance rules will apply.
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  • #6,460
  • Feb 20, 2020 6:32am Feb 20, 2020 6:32am
Quoting Lock
Period H is going to be an inside one? If so balance rules will apply.
Period "I" attempted above "H" inside period, failed and here we are at the opposite side of H: balance rules applied.

Btw note current low as a perfect tag of a round number 2850.. weak buyers there. I'm not saying it has to go there now and take them out but carry forward this info.
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