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Lock's Cable Corner

  • #101
  • Sep 15, 2016 9:14am Sep 15, 2016 9:14am
Well I don't know what to say. It's insisting downside. No serious buyers for now. B high at half back. Weak hands still ruling here. B inside bar of A, if it last up to C we could attempt a break from this micro balance.

16:19 +1GMT half back removed and now 1 single pip below open!
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  • #102
  • Sep 15, 2016 9:23am Sep 15, 2016 9:23am
Just to know, have you still your longs below the lower pit distribution of yeterday session? I have two of them with structural stops 2 pips below A period and sincerely I don't know if it is a stupid thing or not in such a market. I'm not risking too much. But this market doesn't convince me at all. Whatever.
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  • #103
  • Sep 15, 2016 9:37am Sep 15, 2016 9:37am
Quoting Lock
... If pit session will open around here it will be inside yesterday range/value. So, again, at least initial acceptation of this range/value is expected.
Quoting Lock
Pit opens inside the lower distribution. A distribution is a balance so apply the balance rules to this one (31855-3209)
So pit us opened right inside the yesterday pit lower distribution and spent here more then one hour.
A period attempted a breakout downside and failed. Price consequently started to trade to the opposide side of the balance.

B period tested again the low of the distribution and eventually became an inside bar of A.

Now from this narrow range it could unfold attmpting a breakout with C period. In the mean time price seems not yet able to evade the major poc at 3191. When it will do it, from such a narrow range, it should be a directional movement. The narrower the balance the bigger the move from such a volume peak.
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  • #104
  • Sep 15, 2016 9:41am Sep 15, 2016 9:41am
my analyze ,, if H1 can close price below 1.3190,, it will more down to test 1.3100..
  • #105
  • Sep 15, 2016 9:48am Sep 15, 2016 9:48am
Now C attempting a breakout from B period high, inside bar of A period. But our real test will be at the top of the yesterday pit lower distribution 3209. There we will see if we could have continuation above it up to the higher distribution or not.
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  • #106
  • Sep 15, 2016 9:54am Sep 15, 2016 9:54am
Still no serious buyers or sellers here. Price up and down open multiple times. Huge lack of confidence in either directions in this.
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  • #107
  • Sep 15, 2016 10:00am Sep 15, 2016 10:00am
Quoting Lock
Now C attempting a breakout from B period high, inside bar of A period. But our real test will be at the top of the yesterday pit lower distribution 3209. There we will see if we could have continuation above it up to the higher distribution or not.
C failed once above B balance and went down again to the POC. It was an other licit trade (short) if you are fast enough and consider 15 pips a reasonable initial target.
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  • #108
  • Edited 10:18am Sep 15, 2016 10:01am | Edited 10:18am
Quoting Lock
Just to know, have you still your longs below the lower pit distribution of yeterday session? I have two of them with structural stops 2 pips below A period and sincerely I don't know if it is a stupid thing or not in such a market. I'm not risking too much. But this market doesn't convince me at all. Whatever.
I do.

Look at the picture.
You see what price is rising faster than it is faling - yesteday's up bar vs today's bars. The price need more time to fall (to pass the same distance).
This is a sign of accumulation. The price can go high, but than it can be falling to the open of bar slowly. It can happen many times.
So I am about to accumulate as well

Best
D.P.

P.S. One more sign. Look at the bar marked with a green arrow. You can see that the price has no wick at the close, i.e. Close=Low. This a sign can happen when there is no supply at the level; that was why I marked the area in blue. I suppose this area should hold the price at the level.
Attached Image
Hunting High and Low
  • #109
  • Sep 15, 2016 10:09am Sep 15, 2016 10:09am
Quoting Lock
Now C attempting a breakout from B period high, inside bar of A period. But our real test will be at the top of the yesterday pit lower distribution 3209. There we will see if we could have continuation above it up to the higher distribution or not.


Again up. Let's see if this is the good one for the test.
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  • #110
  • Sep 15, 2016 10:11am Sep 15, 2016 10:11am
A B periods poor high.
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  • #111
  • Sep 15, 2016 10:14am Sep 15, 2016 10:14am
Quoting Dr.Phoenix
{quote} I do. Look at the picture. You see what price is rising faster than it is faling - yesteday's up bar vs today's bars. The price need more time to fall (to pass the same distance). This is a sign of accumulation. The price can go high, but than it can be falling to the open of bar slowly. It can happen many times. So I am about to accumulate as well Best D.P. P.S. One more sing. Look at the
Very interesting. I'll study it. Best L.
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  • #112
  • Sep 15, 2016 10:34am Sep 15, 2016 10:34am
Note that yesterday pit session has a poor high and a poor low: very rare.
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  • #113
  • Sep 15, 2016 10:37am Sep 15, 2016 10:37am
Quoting Lock
Now C attempting a breakout from B period high, inside bar of A period. But our real test will be at the top of the yesterday pit lower distribution 3209. There we will see if we could have continuation above it up to the higher distribution or not.
tagged at the pip.

Now let's see if it is able to go and stay above it or not.
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  • #114
  • Sep 15, 2016 10:40am Sep 15, 2016 10:40am
Watch out here, this is a GO/NO GO level. If it fails here we could come back down abruptly, while,at the same time, if it succeed we could have more odds for a bigger correction of upper weakness.
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  • #115
  • Sep 15, 2016 10:49am Sep 15, 2016 10:49am
Beautifull, isn't it? Unfortunately I do not like it so much.
1-E period is the last period before London close.
2-E period low is at round 3200/preUS open price.
It could continue from here but, again, it's weak.
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  • #116
  • Sep 15, 2016 10:53am Sep 15, 2016 10:53am
Note anyway that right now, pit session is in onetimeframing mode. So we are in a trend. Now for continuation the important thing is to stay above 3209 and go as soon as possible inside the upper distribution at 3220-3240
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  • #117
  • Sep 15, 2016 10:57am Sep 15, 2016 10:57am
One timeframing means that (in this case as an example) B period low didn't take out A period low, as C period low didn't take out B period low, and so on, up to current E period. It's a clear sign of trend. And a trend is a trend and merit full rispect. If the one timeframing will interrupt we could start to think that something is going possibly wrong. (a balance?)

In a good trend session, generally we have only one interruption of the one timeframing mode, just to make a normal adjustment of the inventories that could become too long (if trend up) or too short (if trend down).
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  • #118
  • Sep 15, 2016 11:02am Sep 15, 2016 11:02am
Now, we trade value, not price. So current pit value right now is well inside yesterday pit session value. If we do not manage to go inside the upper distribution the odds for a value higher or even overlapping to the high will decrease exponentially. And also above a balance we need acceleration, not stall. So let's see, but watch out for the reasons I wrote about here and in the previous posts.
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  • #119
  • Sep 15, 2016 11:30am Sep 15, 2016 11:30am
Again, F period is inside bar of E period. Very narrow range for the current pit session. And price action up and down breakeven. G period high at today GB open price.
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  • #120
  • Sep 15, 2016 11:37am Sep 15, 2016 11:37am
G period interrupted once the one timeframing higher. Inventories correction or end of the trend?
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