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Lock's Cable Corner

  • #1,761
  • Nov 24, 2016 5:11am Nov 24, 2016 5:11am
I'm "afraid" we can see the 1.2593 once again.....
You can manage risk, but you can't manage the return
  • #1,762
  • Nov 24, 2016 6:01am Nov 24, 2016 6:01am
Quoting Lock
{quote} 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.
13:00+1GMT
The clean space (minus development) of F period above E balance is no more. Current high tagging the old poor high is clearly weak, but now we have not a double distribution profile so your expectation should be a lot lower than before. Now let's see the last 2 GB periods "I" and "J" and then the upcoming preUS session open (remembering that it will be US bank holiday).
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  • #1,763
  • Nov 24, 2016 7:27am Nov 24, 2016 7:27am
EARLY AFTERNOON REPORT
14:27 +1GMT (edited untill 14:32)

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.
Pre US opened inside yesterday pit range (23623-2468) and immediately corrected the E GB period low at yesterday pit unchanged 24387, then established a weak low at yesterday pre US open 2428. Note that the A period high is weak at GB half back 24475. GB C period low is still weak at today GB open 24145.

For upcoming pit session the main reference is the afternoon pull back low at 24273: it will works as a spike base. Acceptation above it we could have continuation upwards, below it, the opposite. Note also that the yesterday pit US poor high at 2468 has not to be considered corrected by GB session even if GB session went above it: because there are different participants in different sessions.

The main composite poc at 2415 is still the main attractive level for the next price action, specially for the presence of weak hands traders caused by the bank holiday. At the same time 24437 is very important has it was for previous GB session.

Finally the weak GB high at previous GB poor high (24945) is clearly a possible target in case of upwards continuation. Do not forget also that GB A period low is weak at round 2400 (it's a pip above it)
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  • #1,764
  • Nov 24, 2016 8:08am Nov 24, 2016 8:08am
15:08+1GMT
For the upcoming pit US session: consider yesterday session as divided in 2 sessions made by the 2 separate distributions above (24175-2468) and below (2377-24055). Upcoming pit session price action has to be considered relatively to them separately. Example: let's say price will open inside the upper distribution, then in this particular case the main references to consider will be the high (2468) and the low (24175) of its range (24175-2468).

A fast recap for current preUS situation: A low at yes open, B low at current open, C low at yes GB close.
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  • #1,765
  • Nov 24, 2016 8:37am Nov 24, 2016 8:37am
Quoting Lock
15:08+1GMT For the upcoming pit US session: consider yesterday session as divided in 2 sessions made by the 2 separate distributions above ...Example: let's say price will open inside the upper distribution, then in this particular case the main references to consider will be the high (2468) and the low (24175) of its range (24175-2468). ....
15:37 +1GMT Pit US opened inside the upper distribution and immediately tagged the high of it 2468. (that is now extremely weak). but at the same time the preUS structure is very very weak below. So watch out.
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  • #1,766
  • Nov 24, 2016 8:48am Nov 24, 2016 8:48am
Quoting Lock
{quote} 15:37 +1GMT Pit US opened inside the upper distribution and immediately tagged the high of it 2468. (that is now extremely weak). but at the same time the preUS structure is very very weak below. So watch out.
15:48
yesterday poor high taken out. Now if there is no continuation above it watch out for a correction downside even if the GB high is very weak at 24945.
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  • #1,767
  • Nov 24, 2016 9:00am Nov 24, 2016 9:00am
Quoting Lock
{quote} 15:48 yesterday poor high taken out. Now if there is no continuation above it watch out for a correction downside even if the GB high is very weak at 24945.
16:00 First period closed above yesterday range high (the old poor high)
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  • #1,768
  • Nov 24, 2016 9:23am Nov 24, 2016 9:23am
16:23
As normal we got only weak hands money involved in a session like this. So whatever the possible result I'm off. See you tomorrow and have a nice continuation. Best L.
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  • #1,769
  • Nov 25, 2016 1:59am Nov 25, 2016 1:59am
08:59 +1GMT

Tokyo liquidated itself during the last 2 periods. Let's see where GB will open. For now we are inside yesterday range 2401-24945. Note that the very weak high from yesterday has not been tested yet.
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  • #1,770
  • Nov 25, 2016 2:16am Nov 25, 2016 2:16am
09:16+1GMT GB opened inside yesterday range and went down below Tokyo low just to tag the major composite poc at 2415 that is also yesterday GB open price: don't be fooled by price action. For now we have seen liquidation of overnight activity and current market is ruled by weak hands.
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  • #1,771
  • Nov 25, 2016 2:20am Nov 25, 2016 2:20am
09:20 Current low is clearly very weak as it also tag yesterday GB C period low that was already a tag of yesterday GB open price. Plus yesterday GB low is weak as it is a tag of round 2400. So we have weak references below and weak references above and all this is happening before news.
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  • #1,772
  • Nov 25, 2016 2:24am Nov 25, 2016 2:24am
09:24 Also we are going in the last period for Tokyo and yesterday Tokyo close (GB B period close) is just here at 24183. So for now nothing changed from yesterday for Tokyo participants.
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  • #1,773
  • Nov 25, 2016 2:26am Nov 25, 2016 2:26am
Quoting Lock
09:16+1GMT GB opened inside yesterday range and went down below Tokyo low just to tag the major composite poc at 2415 that is also yesterday GB open price: don't be fooled by price action. For now we have seen liquidation of overnight activity and current market is ruled by weak hands.
09:26
as you see, back to open price... As written here many times when open is inside the previous session range your expectation should be lesser than if the open was outside it. Because an open inside previous range means, at least initially, acceptation of its boundaries. Then we could expect tests of these boundaries obviously.
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  • #1,774
  • Nov 25, 2016 2:36am Nov 25, 2016 2:36am
09:36 Know who your competitors are: A low at yesterday GB open price, B low at today GB open price...Plus poor high of A and B periods highs..
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  • #1,775
  • Nov 25, 2016 2:54am Nov 25, 2016 2:54am
09:54+1GMT B inside period of A for now: possible break from here.
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  • #1,776
  • Nov 25, 2016 3:01am Nov 25, 2016 3:01am
Hi Lock,

I follow what you are writing....you're telling about weak hands everywhere. a poor high a poor low, gap...etc...etc... I do understand those and see exactly what you mean.... but I can't make a good interpretation out of it. So at the end....unfortunately I can't make a meaningfull thing out of your posts.

It looks I miss something for a good interpretation. Maybe it is good (also for other followers) to post also a possible impact about a fact.

In general I really,really miss the holistic view in your posts where mr. Dalton is speaking about.

Regards, HappyMe
You can manage risk, but you can't manage the return
  • #1,777
  • Nov 25, 2016 3:15am Nov 25, 2016 3:15am
10:14+1GMT note price bouncing at major weekly reference 24437 just a pip below yesterday GB unchange..
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  • #1,778
  • Nov 25, 2016 3:16am Nov 25, 2016 3:16am
Quoting HappyMe
Hi Lock, I follow what you are writing....you're telling about weak hands everywhere. a poor high a poor low, gap...etc...etc... I do understand those and see exactly what you mean.... but I can't make a good interpretation out of it. So at the end....unfortunately I can't make a meaningfull thing out of your posts. It looks I miss something for a good interpretation. Maybe it is good (also for other followers) to post also a possible impact about a fact. In general I really,really miss the holistic view in your posts where mr. Dalton is speaking...
Thanks for your consideration. This evening after market close I'll post an explanation of my point of view. Best L.
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  • #1,779
  • Nov 25, 2016 3:19am Nov 25, 2016 3:19am
Quoting Lock
09:54+1GMT B inside period of A for now: possible break from here.
In the meanwhile did you see the attempted breakout from B balance? If it will fail: back to the opposite side of B. If it will succeed we could reach yesterday GB high that was weak as written. Note that C high tagged exactly yesterday GB unchanged price. It's weak now.
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  • #1,780
  • Nov 25, 2016 3:38am Nov 25, 2016 3:38am
10:38
After the C break above B balance we got 2 single pips above B period high and below current D period low: it's a minus development, a sort of "clean" space between th lower distribution (B period balance) and the new developing one upwards (current D action). If this "clean space" will be preserved we will have a double distribution session, meaning possible continuation upside. If not we will have a single distribution session where the odds for a continuation upside will be lower.
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