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Lock's Cable Corner

  • #1,741
  • Nov 23, 2016 7:24am Nov 23, 2016 7:24am
Quoting Lock
15:18+1GMT Note that we are exactly in the middle of the major daily bracket range (from 10.25 low to 11.11 high) and price is up and down the half back of this range at 23773.
16:24
Note the perfect TAG of the major daily bracket half back of B period low at 23773.
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  • #1,742
  • Nov 23, 2016 8:04am Nov 23, 2016 8:04am
Quoting Lock
15:45 Now 2 things could happen: acceptation back inside yesterday pit session range, or rejection from it.(23835-24413 yesterday pit balance session range) If acceptation we could go further upside at the high of the yesterday pit range, trying to take out also the upper DOUBLE PASS pit gap (24413-24515). If rejection we could continue lower to take out the old Sydney poor low at 2296.
17:04 acceptation inside yesterday range (2 or more m30 periods closed inside it) and back to yesterday pit unchanged at 24215.
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  • #1,743
  • Nov 23, 2016 8:11am Nov 23, 2016 8:11am
Quoting Lock
14:18 +1GMT PreUS period A high exactly at yesterday preUS open 2432: carry this info forward. (as current A low is exactly at today GB open price 24085 ): weak hands in full controll of current market.
17:11 +1GMT ...taken out...
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  • #1,744
  • Nov 23, 2016 8:13am Nov 23, 2016 8:13am
Quoting Lock
15:45 Now 2 things could happen: acceptation back inside yesterday pit session range, or rejection from it.(23835-24413 yesterday pit balance session range) If acceptation we could go further upside at the high of the yesterday pit range, trying to take out also the upper DOUBLE PASS pit gap (24413-24515). If rejection we could continue lower to take out the old Sydney poor low at 2296.
17:13... and here we are...

clap clap...
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  • #1,745
  • Nov 23, 2016 8:17am Nov 23, 2016 8:17am
Note anyhow that the current D period is very elongated with a lot of single pips.
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  • #1,746
  • Nov 23, 2016 8:26am Nov 23, 2016 8:26am
17:26+1GMT
For any meaningfull continuation upside we need to have acceptation above yesterday pit unchanged at 24215. If not, back to the major daily half back at 23773 or at least balance around major composite poc at 2415.
Note that the next E period is the last one for London and we are currently exactly above yesterday London close at 24236.
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  • #1,747
  • Nov 23, 2016 8:36am Nov 23, 2016 8:36am
17:36+1GMT
Also, for a good profile shaping we need to preserve the current double distribution: meaning that we need the current D period minus development to survive at least partially. (current MD of D period is 24055-24238) If not we will have a single distribution and consequently the odds for a continuation upside will significantly reduce.
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  • #1,748
  • Nov 23, 2016 8:55am Nov 23, 2016 8:55am
17:55+1GMT
if there will be continuation upwards, remember that yesterday GB session left a poor high at 24945 and Tokyo left a poor high at 25123.
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  • #1,749
  • Nov 23, 2016 9:00am Nov 23, 2016 9:00am
Quoting Lock
15:45 Now 2 things could happen: acceptation back inside yesterday pit session range, or rejection from it.(23835-24413 yesterday pit balance session range) If acceptation we could go further upside at the high of the yesterday pit range, trying to take out also the upper DOUBLE PASS pit gap (24413-24515). If rejection we could continue lower to take out the old Sydney poor low at 2296....
18:00 All natural targets after yesterday pit session acceptation reached.
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  • #1,750
  • Nov 23, 2016 9:03am Nov 23, 2016 9:03am
18:02+1GMT
Now for continuation we need to stay (acceptation) above yesterday pit high 24413 and above the second weekly bracket high at 24437. If not back to the composite poc at 2415.
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  • #1,751
  • Nov 23, 2016 11:39am Nov 23, 2016 11:39am
20:38+1GMT
Currently we have a pit poor high at 2468, a GB poor high at 24945, a Tokyo poor high at 25123 and (far above) a preUS poor high at 2555. Current pit session profile is not good, in fact we have F, J and K periods' lows at yesterday pit session high (2441 taken out while I was writing), E low at yesterday pit open (24187) and B and C low at main daily bracket half back (23773).

I'm off for today. Best L.
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  • #1,752
  • Nov 23, 2016 10:55pm Nov 23, 2016 10:55pm
16/11/24 THURSDAY 07:50+1GMT (edited untill 08:05)
EARLY MORNING REPORT

Today is US bank holiday consequently we expect low liquidity (and mainly day timeframe traders) specially during US sessions. Yesterday GB made a final test spike with J period with base at 2404 and this is the main reference for upcoming GB session.

  1. If GB will open above the spike base or even above spike top, meaning with a new gap upside from yesterday range high (24346) we could consider this simple fact as a confirmation of the yesterday GB test upside (meaning possible continuation upwards).
  2. If instead GB will open below spike base we could consider that test rejected and consequently we could expect balance (if the open will be inside yesterday range 22667-24346) or even downwards direction if it will open below yesterday GB range low (22667).


Note that we spent all the last price action around the major composite POC at 2415 that is our second most important reference for upcoming sessions and below the second weekly balance high at 24437 that is out third major reference for today.

All the weak references left above are still in place and Tokyo simply added a new poor high to them (24403). On the very short term level we have also a Sydney poor low at 24193 just below current price location. Finally we have a cluster of m30 periods' highs left by pit session at 24437 (exactly the second weekly balance high).

So other weak refernces above are:

  1. pit poor high at 2468,
  2. GB poor high at 24945,
  3. Tokyo poor high at 25123
  4. and (far above) a preUS poor high at 2555

While weak references below are:

  1. Sydney poor low at 24193 (also E low at yesterday pit open at 24187)
  2. and pit session B and C low at main daily bracket half back (23773).
  3. (far below) Sydney poor low at 2296

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  • #1,753
  • Nov 24, 2016 12:01am Nov 24, 2016 12:01am
09:01+1GMT Note the spike base at 2404 tagged at the pip by the first A period of current GB session...
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  • #1,754
  • Nov 24, 2016 12:34am Nov 24, 2016 12:34am
09:34+1GMT
GB session opened inside yesterday GB range and slightly above yesterday GB spike base at 2404: it immediately went down to test that base, found nothing below it (for now) and went up again to test yesterday GB unchange at 2428 (testing 3 pips above it.) So this is the current game: rotation around major composite poc at 2415 and tests of the nearest day timeframe references. Now let's see where we will find acceptation: above unchanged? In this case we could have continuation upside. Below yesterday spike base? In this case we could have balance or continuation downside.
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  • #1,755
  • Nov 24, 2016 1:00am Nov 24, 2016 1:00am
10:00 Again: C low at open price, C high at yes unchanged. For now we have no acceptation above yes unchanged (no m30 periods closed above it), nor we have acceptation below yes spike base. Still rotational environment for now.
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  • #1,756
  • Nov 24, 2016 1:24am Nov 24, 2016 1:24am
Quoting Lock
16/11/24 THURSDAY 07:50+1GMT (edited untill 08:05) EARLY MORNING REPORT... our second most important reference for upcoming sessions and below the second weekly balance high at 24437 that is out third major reference for today....
10:24 tagged at the pip...
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  • #1,757
  • Nov 24, 2016 1:55am Nov 24, 2016 1:55am
10:55 Yesterday GB close at 24543 tagged by D period: an other day timeframe reference.
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  • #1,758
  • Nov 24, 2016 2:29am Nov 24, 2016 2:29am
11:29 E inside bar of D: possible break from here. Poor high at 2460. E low at yesterday pit unchanged (24387), C low at GB today open (24145). One timeframing higher for now.
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  • #1,759
  • Nov 24, 2016 2:59am Nov 24, 2016 2:59am
Quoting Lock
11:29 E inside bar of D: possible break from here. Poor high at 2460. E low at yesterday pit unchanged (24387), C low at GB today open (24145). One timeframing higher for now.
11:59 F attempted a break out above E period balance, removing the GB poor high at 2460 and testing the yesterday pit session poor high 24678. Now for any meaningfull continuation upside we need to see price acceptance above it. Also the best possible profile will be a double distribution one, meaning leaving some clean space above E balance. If not, watch out for a correction of inventories.
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  • #1,760
  • Nov 24, 2016 3:11am Nov 24, 2016 3:11am
Quoting Lock
16/11/24 THURSDAY 07:50+1GMT (edited untill 08:05) EARLY MORNING REPORT ...If GB will open above the spike base [...] we could consider this simple fact as a confirmation of the yesterday GB test upside (meaning possible continuation upwards). [...] ...All the weak references left above are still in place and Tokyo simply added a new poor high to them (24403)[...] other weak refernces above are: pit poor high at 2468, GB poor high at 24945, Tokyo poor high at 25123 and (far above) a preUS poor high at 2555 ....
12:11+1GMT
GB poor high at 24945 tagged. A textbook trading day...
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