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Lock's Cable Corner

  • #7,941
  • Dec 6, 2020 11:48pm Dec 6, 2020 11:48pm
Quoting Lock
Note that if GB will open below gap range 3387-33905 this area will become a double pass gap as we will open with a new gap downside from GB Friday low 34095: so take note of this precious information if this will happen.
I shoot from 1.348x and TP at 1.3280-1.3300. Buy limit in this area, too. Let's wait
  • #7,942
  • Dec 7, 2020 12:14am Dec 7, 2020 12:14am
32975...
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  • #7,943
  • Dec 7, 2020 12:35am Dec 7, 2020 12:35am
Quoting Lock
32975...
very emotional elongated profile: monitor for acceptation or rejection below 32975 to understand if it something more or not.
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  • #7,944
  • Dec 7, 2020 12:37am Dec 7, 2020 12:37am
Quoting Lock
{quote} very emotional elongated profile: monitor for acceptation or rejection below 32975 to understand if it something more or not.
If acceptation below 32975 we can aim at opposite side of weekly GB balance, meaning 31655. If no acceptation expect a serious correction upside.
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  • #7,945
  • Dec 7, 2020 12:50am Dec 7, 2020 12:50am
Quoting Lock
2 important levels for upcoming GB session are also December GB open 3382 and November GB close 3338: monitor carefully for acceptation or rejection below them (the second one if reached)
I am backkk hope you had nice thanks giving made pips and all, I will do light trading till Christmas
  • #7,946
  • Dec 7, 2020 1:02am Dec 7, 2020 1:02am
3227 Brexit low... acceptation below 32975....
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  • #7,947
  • Dec 7, 2020 1:06am Dec 7, 2020 1:06am
Quoting Lock
3227 Brexit low... acceptation below 32975....
Brexit low tagged at 3227...
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  • #7,948
  • Dec 7, 2020 2:21am Dec 7, 2020 2:21am
Quoting Lock
3227 Brexit low... acceptation below 32975....
if it will re test 32975 from below you want to see a failure above it for continuation downside (toward inside week low 31655). If instead it will be re tested and you'll see acceptation above it, watch out as we have no structure at all above it.
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  • #7,949
  • Dec 7, 2020 3:40am Dec 7, 2020 3:40am
Quoting wanted
{quote} I shoot from 1.348x and TP at 1.3280-1.3300. Buy limit in this area, too. Let's wait
Wait and see the reaction at 1.3250, buy at this price with small volume.
  • #7,950
  • Dec 7, 2020 10:22pm Dec 7, 2020 10:22pm
Quoting Lock
3227 Brexit low... acceptation below 32975....
Quoting Lock
{quote} Brexit low tagged at 3227...
Quoting Lock
{quote} if it will re test 32975 from below you want to see a failure above it for continuation downside (toward inside week low 31655). If instead it will be re tested and you'll see acceptation above it, watch out as we have no structure at all above it.
Not to much to say about yesterday: GB emotionally continued Tokyo liquidation based upon Brexit deal rumors toward next significant psychological level (that reasonably enough has been the Brexit low of 2016 at 3227). Then the emotional short inventories have been covered by PreUS and Pit sessions all day long after acceptation above 32975.

Some significant things happened anyhow:

  1. nor PreUS nor Pit removed the PreUS poor low at 3257 (GB took it by it is not considered taken out if done by GB participants only)
  2. PreUS tagged a very weak level (for US participants) at 32635 that is a Back to Back Pit lows from 11.20-23: it is now weaker than before.
  3. Pit session established a poor low at 3288 tagging almost exactly last week Pit low at 32875:making this level now weaker than ever before.

Now other than these new levels to consider as possible targets in the future sessions, I also suggest to take note of the fact that we still have 2 double pass gaps above us: a GB one at 3387-33905 and a Pit one from 3406 (yesterday Pit high) to 3420 (Friday Pit low)

For upcoming GB session the most relevant levels are:

  1. 34955 current highest GB close for 2020
  2. 34935 current December and year GB high
  3. 3483 last week GB close
  4. 34265 old 2020 GB high (made during September)
  5. 3429 GB 2019 high
  6. 34145 highest September GB close
  7. 3397 GB November high
  8. 3406-3420 GB double pass gap
  9. 3382 GB December open
  10. 33765 Highest GB November close (and also yesterday GB high)
  11. 33525 Yesterday GB close
  12. 3338 November GB close
  13. 33035 Last week GB low
  14. 32975 Inside GB week high (a fundamental level as any action upside will search support upon it or upon Brexit low 3227)

Take into serious consideration such levels as GB operators will surely do. Monitor for acceptation or rejection above and below each of them, giving more importance to those I underlined as possible targets above or below current price location.

And if GB will open inside yesterday GB range expect, at least initially some sort of balance.

PS: yesterday you saw an extraordinary elongated A period, those who have been scared by it should not have been: as you saw it was only a substantial opportunity. So, do not be fooled by price action and base your trade upon market generated information.

PPS:

Quoting wanted
{quote} Wait and see the reaction at 1.3250, buy at this price with small volume.
Happy to see new contributors in this thread, you are welcome! But please, this is not a diary of members trading positions: if you want to tell us what you are doing, do it in relation to the content of this thread and elaborate your reasons. And also if you like my notes, please subscribe me. Thank you.
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  • #7,951
  • Dec 8, 2020 12:50am Dec 8, 2020 12:50am
Quoting Lock
{quote} {quote} {quote} [...]. And if GB will open inside yesterday GB range expect, at least initially some sort of balance. .....
GB opened inside yesterday GB range and as expected, here we have a perfect balance environment....

...wait for a good opportunity, do not search for it...
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  • #7,952
  • Dec 8, 2020 1:25am Dec 8, 2020 1:25am
Now, let's see if period C will be an inside one. If so balance rules will apply and maybe we'll have a good opportunity.
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  • #7,953
  • Dec 8, 2020 5:48am Dec 8, 2020 5:48am
Quoting Lock
{quote} {quote} {quote} .... Last week GB low 32975 Inside GB week high (a fundamental level as any action upside will search support upon it or upon Brexit low 3227) Take into serious consideration such levels as GB operators will surely do. Monitor for acceptation or rejection above and below each of them, giving more importance to those I underlined as possible targets above or below...
GB opened, spent some hours into balance then went down and stop exactly at 32975. From there PreUS opened and using it as support rallied upside: and this is market generated information at work.
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  • #7,954
  • Dec 8, 2020 5:57am Dec 8, 2020 5:57am
Quoting Lock
{quote} {quote} {quote} Some significant things happened anyhow: nor PreUS nor Pit removed the PreUS poor low at 3257 (GB took it by it is not considered taken out if done by GB participants only) PreUS tagged a very weak level (for US participants) at 32635 that is a Back to Back Pit lows from 11.20-23: it is now weaker than before. Pit session established a poor low at 3288 tagging almost exactly last week Pit low at 32875:making this level now weaker than ever before. Now other than these new levels to consider...
I also suggest you to take note of my first post about weak levels left downside yesterday: 32875 was already very weak and today preUS almost tagged it again. Now it is extraordinary weak and you have to sum it to 32635 to compose a very weak and interesting zone for next pit sessions. I'm not saying it has to go down there now. I'm saying to consider it and remember it if something will go wrong upside.
Finally I also suggest to consider the double pass pit gap at 3406 (yesterday Pit high) to 3420: it can attract price during Pit session
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  • #7,955
  • Dec 8, 2020 6:11am Dec 8, 2020 6:11am
please note that 33475 is December Pit open level...
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  • #7,956
  • Dec 8, 2020 6:28am Dec 8, 2020 6:28am
I will not follow the pit session. Have a nice continuation.
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  • #7,957
  • Dec 8, 2020 6:46am Dec 8, 2020 6:46am
Quoting Lock
{quote} GB opened, spent some hours into balance then went down and stop exactly at 32975. From there PreUS opened and using it as support rallied upside: and this is market generated information at work.
Thanks for highlighting why the market turned there. I thought it was generic stop hunting activity just below 1.33.
  • #7,958
  • Dec 8, 2020 7:21am Dec 8, 2020 7:21am
Quoting Lock
{quote} I also suggest you to take note of my first post about weak levels left downside yesterday: 32875 was already very weak and today preUS almost tagged it again. Now it is extraordinary weak and you have to sum it to 32635 to compose a very weak and interesting zone for next pit sessions. I'm not saying it has to go down there now. I'm saying to consider it and remember it if something will go wrong upside. Finally...
Quoting Lock
please note that 33475 is December Pit open level...
And here you are : from December pit open 33475 to 32875 weak zone... Again market generated information...
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  • #7,959
  • Dec 8, 2020 12:55pm Dec 8, 2020 12:55pm
Note that actually both today GB session and today Pit session are inside ones: today GB session range (32975-33675) is contained inside yesterday GB range (3224-33765) while today Pit session range (not yet completed but currently 3295-3377) is inside yesterday Pit session range (32875-3406)

This means that form now on balance rules apply. Any attempt above or below current GB session range has to be considered an attempted evasion from balance: the same can be said of pit session when and if current session will close confirming its actual state of "inside" session.
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  • #7,960
  • Dec 8, 2020 10:03pm Dec 8, 2020 10:03pm
Quoting Lock
Note that actually both today GB session and today Pit session are inside ones: today GB session range (32975-33675) is contained inside yesterday GB range (3224-33765) while today Pit session range (not yet completed but currently 3295-3377) is inside yesterday Pit session range (32875-3406) This means that form now on balance rules apply. Any attempt above or below current GB session range has to be considered an attempted evasion from balance: the same can be said of pit session when and if current...
As you can see Pit , Sydney and Tokyo sessions already attempted a break upside from GB balance range (above 33675) and they also already tested the top of the containing GB session (33765): the problem is that we have a GB double pass gap at 3387-33905 and if you'll see a Tokyo rally and a GB open above such zone you'll have a triple pass gap there. A triple pass gap is a very rare "condition" for a market: generally market participants tend to be attracted by gaps, more than attracted by double pass gaps and extremely attracted by triple pass gap.

So if this is what is going to happen: take note and remember this consideration.
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