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Attachments: Lock's Cable Corner
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Lock's Cable Corner

Quoting Lock
Major pit levels around here are: 36985 January unch and 3679 Pit 2020 high Note that the low of the gap coincides (almost) with Pit 2020 high
Quoting Lock
SO, if we get acceptation above them at pit open we can aim at highest pit unch of current year at 37365. If no acceptation above them we can see a correction again toward 3651 pit Thursday poor low.
Pit got acceptation above 3679 and 36985 then it closed 6 pips above 37365...

Now, Tokyo managed to test above absolute GB high 3758 (the weak yearly high we was speaking about in the last days): it is the main level for today GB action. Acceptation above it and above yesterday GB close at 37375 can lead to continuation upside or at least balance.
Rejection above them (or acceptation below them) can lead to a substantial liquidation.

Anyhow consider that current Tokyo session managed to create space above yesterday GB high at 37405: meaning that a new GB gap upside is possible at GB open. If so and if not retraced quickly, odds are in favor to continuation upside.
Ubi maior minor cessat
Quoting Lock
{quote} {quote} Pit got acceptation above 3679 and 36985 then it closed 6 pips above 37365... Now, Tokyo managed to test above absolute GB high 3758 (the weak yearly high we was speaking about in the last days): it is the main level for today GB action. Acceptation above it and above yesterday GB close at 37375 can lead to continuation upside or at least balance. ....
So we got clear acceptation above 37375 and 3758 and we had a balance session.

Now for upcoming US sessions note that the main levels are only slightly different: 3742 highest 2021 unch and yesterday pit high 37495. Acceptation above them, can lead to continuation upside (balance is not probable as we already had it during both Tokyo and GB), if rejection above them, we can have liquidation.
Also in this case monitor for the possible formation and preservation of a new gap upside from yesterday pit high 37495.
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I have my buy limits at 1.3760 should i move it down or let it be there. Sir lock please guide
Quoting Abeeha
I have my buy limits at 1.3760 should i move it down or let it be there. Sir lock please guide
As I wrote use Pit references to evaluate the situation. We left downside huge weaknesses while at the same time current high is weak and poor as it is poor for the session and weak as it is only an almost tag of Tokyo poor high.. Monthly trend is upside. So If it will go down from here we will have only liquidation, if it will continue higher it will be forcing action.

So the only parameters to better evaluate the situation are yesterday pit high 37495 and yesterday pit unch 3742. If tested and failure below them, imagine continuation upside. If not even tested imagine continuation upside. If tested and acceptation below them , imagine some sort of liquidation.
Ubi maior minor cessat
Obviously if you will see a test above current poor high 3789 and a failure above it, liquidation is very possible...
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Thanks @lock for this info.
Hi Lock, seems you are one of the only professionals here around. Anyway, PA is looking very choppy on highs. For me indicates weakness short term. Long term up of course.

What do you say to today's PA? I scalped the heck out of the market but I must admit I expected a bit of drop after a while - which did not occured yet from the top of 1,3800. What's your analyze to that current situation?

Thanks mate,
Quoting JackintheBox
Hi Lock, seems you are one of the only professionals here around. Anyway, PA is looking very choppy on highs. For me indicates weakness short term. Long term up of course. What do you say to today's PA? I scalped the heck out of the market but I must admit I expected a bit of drop after a while - which did not occured yet from the top of 1,3800. What's your analyze to that current situation? Thanks mate,
We do have acceptation above 37495 and 3742 main pit levels, plus we do have acceptation above 3789 overnight high, but as you correctly said this is a very weak market and I'm expecting too some sort of liquidation. Before to continue any higher. The little drop of D period doesn't look enough even to me.
Let's see after GB close. In any case consider that we can also see a very weak market continuing higher only to see it corrected by overnight. After.
Ubi maior minor cessat
So let's see if E period will liquidate or if it liquidate after. If not maybe it can go above 38 for a test and then liquidate.
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For those interested in stats consider this: we spent almost 15 hours to progress upside 13 pips...
And when I wrote pit should not be a balance session as we already saw Tokyo and GB in balance, I was totally wrong.
Ubi maior minor cessat
Quoting Lock
{quote}.... Now for upcoming US sessions note that the main levels are only slightly different: 3742 highest 2021 unch and yesterday pit high 37495. Acceptation above them, can lead to continuation upside (balance is not probable as we already had it during both Tokyo and GB), if rejection above them, we can have liquidation. Also in this case monitor for the possible formation and preservation of a new gap upside from yesterday pit high 37495.
Quoting Lock
For those interested in stats consider this: we spent almost 15 hours to progress upside 13 pips... And when I wrote pit should not be a balance session as we already saw Tokyo and GB in balance, I was totally wrong.
Partially wrong as it actually did what expected after acceptation above 3742 and 37495: it did it in a very weak fashion if we want to describe it correctly. And I was to0 impatient after 15 hours of balance...

Anyhow Tokyo corrected almost half of the last pit progress upside and now main refs for GB are 3789 yesterday GB high and 37945 yesterday GB close. Acceptation above them can lead to continuation upside especially if we will see a new GB gap upside from yesterday GB high 3789 not quickly retraced after GB open.

As written many times in the last days, structure downside is very ugly and some sort of serious liquidation is expected before or after but we always have to consider that monthly trend is upside. So be prepared for a shakeout but follow trend if nothing occur.
Ubi maior minor cessat
We are going to open inside yesterday GB range: if so balance at least initially is expected. Main level for today is yesterday GB close 3849. Evaluate acceptation or rejection above and below it.
We have 2 back to back Tokyo poor lows at 38205 and 3802: if you'll see price continuing higher without taking out none of them, watch out as it will be forcing action again.
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Quoting Lock
We are going to open inside yesterday GB range: if so balance at least initially is expected. Main level for today is yesterday GB close 3849. Evaluate acceptation or rejection above and below it. We have 2 back to back Tokyo poor lows at 38205 and 3802: if you'll see price continuing higher without taking out none of them, watch out as it will be forcing action again.
So GB totally disregarded yesterday close at 3849 and immediately went downside to take out the first Tokyo poor low 38205 but only to replace it with its own poor low at 3813 and leaving the second Tokyo poor low in place at 3802, then going into balance as expected. So this minor liquidation could not be over yet. Always remember that monthly trend is up anyhow..
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...and note F period high at HB 3828
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Quoting Lock
...and note F period high at HB 3828
So should i set buy limit at 3802 as 3813 was taken and 3808 and 3802 still in play.
Quoting Lock
...and note F period high at HB 3828
back to 3828 as expected
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Quoting Abeeha
{quote} So should i set buy limit at 3802 as 3813 was taken and 3808 and 3802 still in play.
Not so easy at all. We should see if Gb will remain in balance or if it will break the balance before preUS open. If it will break the balance upside we can imagine some continuation upside supported by monthly trend. If it will break downside it will probably be only liquidation and preUS oe Pit can revert it after. So take this market a piece at the time and do not program market movements in advance
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Consider H1: the last 3 periods, including current one, are one inside the other: full balance and balance rules apply. Go with the break from balance if it will occur and in case of failure revert to the opposite side.
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Quoting Lock
{quote} Not so easy at all. We should see if Gb will remain in balance or if it will break the balance before preUS open. If it will break the balance upside we can imagine some continuation upside supported by monthly trend. If it will break downside it will probably be only liquidation and preUS oe Pit can revert it after. So take this market a piece at the time and do not program market movements in advance
Noted and thank you i am trying for a moment to remain a side untill it got a clear direction
If it will not retest 38205 , watch out for correction upside. Only with acceptation below it we can see some serious liquidation. In fact from 38205 to yesterday Pit low we had a double gap that is not filled for a single pip.
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