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Lock's Cable Corner

  • #1,681
  • Nov 17, 2016 11:07am Nov 17, 2016 11:07am
Note that USDX rallied from pit open and it is still going higher.
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  • #1,682
  • Nov 17, 2016 5:28pm Nov 17, 2016 5:28pm
Quoting Devart
Hello Lock, is it possible to avoid that the gap drawn move on the right? As you can they are not in the orginal position as in picture 11. Thank you {image} {image}
So, a late night answer: if you are referring to the left side of the rectangle it shouldn't move at all*. The profiles moved to the left because the profile tool updated moving old sessions to the left. If instead you are referring to the right side of the rectangle the best way to stop the automatic stretch to the right is to remove the "LOCK_Extend-Mod-Delete_Rectangles-ver03_FF" from chart. That "indicator" is the one who stretches all the rectangles to the right. Best L.

*I noted a lot of minor issues in the "LOCK_Extend-Mod-Delete_Rectangles-ver03_FF" so it is also possible that it wrongly moves also the left side of some rectangles: I need to find time to check it.
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  • #1,683
  • Nov 18, 2016 12:41am Nov 18, 2016 12:41am
Quoting Lock
{quote} So, a late night answer: if you are referring to the left side of the rectangle it shouldn't move at all*. The profiles moved to the left because the profile tool updated moving old sessions to the left. If instead you are referring to the right side of the rectangle the best way to stop the automatic stretch to the right is to remove the "LOCK_Extend-Mod-Delete_Rectangles-ver03_FF" from chart. That "indicator" is the one who stretches all the rectangles to the right. Best L. *I noted a lot of minor issues in the "LOCK_Extend-Mod-Delete_Rectangles-ver03_FF"...
I have not the LOCK_Extend-Mod-Delete_Rectangles-ver03_FF.
Of course the profile moves to the left to update with the session.
What I mean is that the rectangles (the gaps) moves with the session, thus gap and session are "linked"
  • #1,684
  • Nov 18, 2016 1:51am Nov 18, 2016 1:51am
Quoting Devart
{quote} I have not the LOCK_Extend-Mod-Delete_Rectangles-ver03_FF. Of course the profile moves to the left to update with the session. What I mean is that the rectangles (the gaps) moves with the session, thus gap and session are "linked"
Ok. To do that I should embed the rectangle manage in the tpo indicator. Not an easy task. It's one of the thing I want to do if possible at least for gaps. Best L.
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  • #1,685
  • Nov 18, 2016 1:59am Nov 18, 2016 1:59am
16/11/18 FRIDAY 10:59+1GMT
MORNING UPDATE

GB opened with a gap downside from yesterday GB session low at 2446. GB retraced almost 70% of it with A period, coming back to the main composite POC at 2415 and testing overnight high at 24215 (Sydney high). It found nothing there, balanced with B period (inside of A) attempted a break with C, found nothing again and went back to the opposite side of B balance. Substantially it is balancing around the main composite POC for now.

If the current GAP will resist we could see continuation downside, specially if price will manage to remain below yesterday pit session low at 2408, leaving a gap also for upcoming pit session untill 15:30+1GMT.

We have a cluster of weakness references below at 2375 zone. Old GB poor low, current Tokyo poor low etc. I see it as a clear possible target.

Note that USDX did the same thing this morning, opening with a gap upside for GB session and balancing around open(above the new GB gap)

11:10 +1GMT

I forget an important reference: current GB low tagged exactly the 2 days GB sessions balance low at 23925 (Tuesday 11.15 GB session low), so it is particularly weak even if other different sessions went below it already (Pit 11.15 and today Tokyo)

11:15 And because a trader should always have at least 3 scenarios for upcoming market activity, the folowing are the other possible ones:

 

  1. GB retraced completely the new gap and the yesterday pit session, building a gap upside for upcoming pit session. Making possible a skip for current weaknesses below and opening the doors for a substantial correction upside.
  2. GB retraced completely the new gap and stall inside yesterday pit session. Leaving to the upcoming pit the option to decide where to go.

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  • #1,686
  • Nov 18, 2016 4:10am Nov 18, 2016 4:10am
13:10 +1GMT
Current situation is crucial to establish the unchanged GB price (preUS open): below or above yesterday pit session low at 2408: meaning a possible gap downside or not. All the GB session for now has been spent over the main composite POC at 2415.
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  • #1,687
  • Nov 18, 2016 4:32am Nov 18, 2016 4:32am
Quoting Lock
16/11/18 FRIDAY 10:59+1GMT MORNING UPDATE ... We have a cluster of weakness references below at 2375 zone. Old GB poor low, current Tokyo poor low etc. I see it as a clear possible target. ....
13:32 +1GMT
Taken out by "I" period spike.
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  • #1,688
  • Nov 18, 2016 4:36am Nov 18, 2016 4:36am
13:36+1GMT Now it's all about the possibility to accept price here leaving the possibility of a US gap downside as previously written. If it will gap and this new gap will not be retraced quickly we could see a test of the weak zone at 2351 level (11.09 Tokyo low tagged by 11.09 GB low) and eventually a correction of the DOUBLE PASS PIT GAP at 23365-23444.
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  • #1,689
  • Nov 18, 2016 4:53am Nov 18, 2016 4:53am
13:53 +1GMT (edited untill 13:55)

Note that if this is the directional move we were all waiting for, the natural target is the main composite POC at 2293. (scenario1)

If instead this is only a minor liquidation before a short covering, we could see price ending in a balance action around nearest composite poc at 2415 (scenario2) or a substantial correction up to the preUS poor high at 25555.(scenario3)
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  • #1,690
  • Nov 18, 2016 5:07am Nov 18, 2016 5:07am
Quoting Lock
13:36+1GMT Now it's all about the possibility to accept price here leaving the possibility of a US gap downside as previously written. If it will gap and this new gap will not be retraced quickly we could see a test of the weak zone at 2351 level (11.09 Tokyo low tagged by 11.09 GB low) and eventually a correction of the DOUBLE PASS PIT GAP at 23365-23444.
14:07
2351 taken out by first preUS period. And also a first test of the old double pass pit gap at 23365-23444.
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  • #1,691
  • Nov 18, 2016 5:16am Nov 18, 2016 5:16am
Quoting Lock
{quote} 14:07 2351 taken out by first preUS period. And also a first test of the old double pass pit gap at 23365-23444.
14:15+1GMT
Note that this old double pass pit gap could only be really corrected by a pit session action, Pit session will open at 15:30+1GMT so untill then if we stay below this gap we are building a TRIPLE PASS PIT GAP at 23365-23444 for upcoming pit session while if we stay above it wea re going to preserve it as a DOUBLE GAPP for upcoming pit session.
I mean that is very probable that the new pit session will go over this zone (23365-23444) to fill it in both cases; if it will open above it or below it. If above it it will be pretty sure. If below it the TRIPLE PASS GAP could offer some form of resistance and it could be skipped in order to form a major "ISLAND REVERSAL" of all the pit sessions above 23444.

For now consider the A period and its too many single pips as a form of anomaly.
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  • #1,692
  • Nov 18, 2016 6:11am Nov 18, 2016 6:11am
Quoting Lock
{quote} 14:15+1GMT ... I mean that is very probable that the new pit session will go over this zone (23365-23444) to fill it in both cases; if it will open above it or below it. If above it it will be pretty sure. If below it the TRIPLE PASS GAP could offer some form of resistance and it could be skipped in order to form a major "ISLAND REVERSAL" of all the pit sessions above 23444. For now consider the A period and its too many single pips as a form of anomaly....
15:11+1GMT
Note that the single pips of A period have been retraced more than 50%. And price is arounf the double pass zone at 23365-23444.

15:15 edit
Also note price up and down the GO NO GO level 23316, the first weekly balance high. Acceptation below it could mean a full correction down to the opposite side of the weekly balance (21352) and possibly more down to the "all time low" during next days (starting from today)
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  • #1,693
  • Nov 18, 2016 6:18am Nov 18, 2016 6:18am
15:18 +1GMT
Note also B period inside of A: possible break form here. Maybe a false break in one direction and then a real one in the opposite direction.
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  • #1,694
  • Nov 18, 2016 6:33am Nov 18, 2016 6:33am
15:33
Pit opened at the bottom of the TRIPLE PASS GAP and started to fill it. Note that we have now also a DOUBLE PASS PIT GAP up to 2361. And obviously a new big gap downside from yesterday pit low at 2408. This is the one who can allow a continuation downside if not retraced quickly.
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  • #1,695
  • Nov 18, 2016 6:35am Nov 18, 2016 6:35am
Quoting Lock
{quote} 14:15+1GMT .... I mean that is very probable that the new pit session will go over this zone (23365-23444) to fill it in both cases; if it will open above it or below it. If above it it will be pretty sure. If below it the TRIPLE PASS GAP could offer some form of resistance and it could be skipped in order to form a major "ISLAND REVERSAL" of all the pit sessions above 23444. For now consider the A period and its too many single pips as a form of anomaly.
15:35 immediately filled by pit action.

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  • #1,696
  • Nov 18, 2016 6:41am Nov 18, 2016 6:41am
Quoting Lock
15:33 Pit opened at the bottom of the TRIPLE PASS GAP and started to fill it. Note that we have now also a DOUBLE PASS PIT GAP up to 2361. And obviously a new big gap downside from yesterday pit low at 2408. This is the one who can allow a continuation downside if not retraced quickly.
15:41+1GMT
DOUBLE PASS GAP filled at the pip up to 2361 exactly.
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  • #1,697
  • Nov 18, 2016 7:40am Nov 18, 2016 7:40am
Quoting Lock
15:18 +1GMT Note also B period inside of A: possible break form here. Maybe a false break in one direction and then a real one in the opposite direction.
16:40
Pit US A period attempted above preUS B balance, failed and we are now at the opposite side of B balance, as normal. Now let's see if eventually it will be able to continue lower in order to test at least the overnight low (preUS low)

Note that C high is at open price 23377 so is weak: carry this info forward.
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  • #1,698
  • Nov 18, 2016 7:44am Nov 18, 2016 7:44am
Quoting Lock
{quote} 16:40 Pit US A period attempted above preUS B balance, failed and we are now at the opposite side of B balance, as normal. Now let's see if eventually it will be able to continue lower in order to test at least the overnight low (preUS low) Note that C high is at open price 23377 so is weak: carry this info forward.
16:43+1GMT PreUS low at 23094 tested. It's a textbook for now.
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  • #1,699
  • Nov 18, 2016 8:34am Nov 18, 2016 8:34am
Quoting Lock
{quote} 16:40 Pit US A period attempted above preUS B balance, failed and we are now at the opposite side of B balance, as normal. Now let's see if eventually it will be able to continue lower in order to test at least the overnight low (preUS low) Note that C high is at open price 23377 so is weak: carry this info forward.
17:34 Taken out. An other piece of textbook here.
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  • #1,700
  • Edited 9:08am Nov 18, 2016 8:39am | Edited 9:08am
17:39
E period is the last one for London. The lowest London close for November is currently at 23716: so we are well below it for now. Current C low(the low of current pit session ) is weak at round 2300. And right below it we got the Sydney poor low from 11.02 at 2296 and just below it the main composite poc at 2293. I don't know what is going to do now but these are the weak references and the possible destination targets for the continuation of this session.
In anycase I'm off for today. Have a nice continuation. Best L.

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