Lock's Cable Corner | Page 395 | Forex Factory

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Lock's Cable Corner

  • #7,881
  • Dec 1, 2020 10:50am Dec 1, 2020 10:50am
Retesting Pit November high 3394 an other crucial level. (this time only for pit participants)
Ubi maior minor cessat
  • #7,882
  • Dec 1, 2020 10:57am Dec 1, 2020 10:57am
Note the mess of weaknesses left downside starting with today low at 3316... If this thing will be accepted below major refs 34145 and 3394 it will be dead and gone. And current high, this time can be a clear failure above major trendline. Anyhow, do not anticipate this market and take it a piece at a time.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-12-01_8-54-30_current.png Size: 52 KB
Ubi maior minor cessat
  • #7,883
  • Dec 1, 2020 11:00am Dec 1, 2020 11:00am
E period, current one, tagged half back 3387: not a good sign for continuation upside (one piece...)
Ubi maior minor cessat
  • #7,884
  • Dec 1, 2020 11:01am Dec 1, 2020 11:01am
Now we have only pit participants until Pit unch. Let's see their behavior without GB participants. Note GB close inside November month range. (below 3397)
Ubi maior minor cessat
  • #7,885
  • Dec 1, 2020 11:05am Dec 1, 2020 11:05am
btw: E period inside period, balance rules apply. Watch out as this balance can give us the answer we are waiting for.
Ubi maior minor cessat
  • #7,886
  • Dec 1, 2020 11:31am Dec 1, 2020 11:31am
Quoting Lock
btw: E period inside period, balance rules apply. Watch out as this balance can give us the answer we are waiting for.
Watch out F period is also inside period: balance rules for it first
Ubi maior minor cessat
  • #7,887
  • Dec 1, 2020 11:37am Dec 1, 2020 11:37am
Quoting Lock
{quote} Watch out F period is also inside period: balance rules for it first
Attempted rally from inside period F
Ubi maior minor cessat
  • #7,888
  • Dec 1, 2020 11:40am Dec 1, 2020 11:40am
Quoting Lock
{quote} Attempted rally from inside period F
if it will fail back to half back 3387. If it will succeed new test of current high.
Ubi maior minor cessat
  • #7,889
  • Dec 1, 2020 11:48am Dec 1, 2020 11:48am
This attempted rally can be tricky as it is an attempted rally inside an inside period (attempted above F period inside E period that is inside too): so actually we are still into balance. Don't be fooled and take care.
Ubi maior minor cessat
  • #7,890
  • Dec 1, 2020 11:52am Dec 1, 2020 11:52am
Do you see it? F period (yellow box) from which this rally is occurring is inside E period (green box): so a buy is licit but watch out above E period high
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-12-01_9-50-14_cur 2.png Size: 31 KB
Ubi maior minor cessat
  • #7,891
  • Dec 1, 2020 12:30pm Dec 1, 2020 12:30pm
And H period is again an inside period (the third one in the last 4 periods) and again is inside E period... that remain our main balance for now.
Ubi maior minor cessat
  • #7,892
  • Dec 1, 2020 12:57pm Dec 1, 2020 12:57pm
4 periods contained inside E period range...
Ubi maior minor cessat
  • #7,893
  • Dec 1, 2020 12:59pm Dec 1, 2020 12:59pm
Quoting Lock
4 periods contained inside E period range...
We can succeed above it and go to 3473 or fail and retrace to half back3387
Ubi maior minor cessat
  • #7,894
  • Dec 1, 2020 1:08pm Dec 1, 2020 1:08pm
Quoting pipcenturion
{quote} 1.3468 then sell again My view
I didn't see your comment: it absolutely can be but take this market a piece at a time and take note of market generated information. E balance is current game.

Btw 3468 is 2 pips above 2020 GB high and only some pips below Pit 2020 high at 3473 that is only 9 pips below preUS high 3482: elaborate your level.
Ubi maior minor cessat
  • #7,895
  • Dec 1, 2020 1:27pm Dec 1, 2020 1:27pm
Quoting Lock
4 periods contained inside E period range...
now 5 periods inside E period range....
Ubi maior minor cessat
  • #7,896
  • Dec 1, 2020 1:44pm Dec 1, 2020 1:44pm
Well, whatever. It's too late for me. We are in balance, value is higher from yesterday, we have a weak level at HB 3387 but also a clear break of major trendline. We will see tomorrow at GB open. Have a nice continuation
Ubi maior minor cessat
  • #7,897
  • Dec 2, 2020 12:31am Dec 2, 2020 12:31am
Quoting Lock
{quote} now 5 periods inside E period range....
...and we still are inside E period balance: after 26 periods...

So what? E period balance is our main info today. Balance rules apply. E range is between 3387 (weak level as tag of pit half back) and 3435.
Ubi maior minor cessat
  • #7,898
  • Dec 2, 2020 1:09am Dec 2, 2020 1:09am
Monitor for the possible creation of a new GB gap higher from yesterday GB high 3407
Ubi maior minor cessat
  • #7,899
  • Dec 2, 2020 2:38am Dec 2, 2020 2:38am
Quoting Lock
{quote} ...and we still are inside E period balance: after 26 periods... So what? E period balance is our main info today. Balance rules apply. E range is between 3387 (weak level as tag of pit half back) and 3435.

So, please, let me say: NICE and CLEAN

With market provided information you MUST have profited from today action. Price went up above balance high 3435, failed and retraced back downside to the opposite side of it eliminating the weak buyers at 3387 and continued the liquidation even lower. A textbook trade based upon balance rules.
Ubi maior minor cessat
  • #7,900
  • Dec 2, 2020 3:02am Dec 2, 2020 3:02am
3338 is GB November close: acceptation needed for any significant continuation downside. If not back into balance (middle of GB session). If acceptation below it, next level is 3316
Ubi maior minor cessat
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