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Lock's Cable Corner

  • #4,381
  • Jun 23, 2017 7:54am Jun 23, 2017 7:54am
Quoting Lock
{quote} And as normal we got the directional move. In the direction of the upper next composite poc 2751. But please note that currently we are above the unsolved 4 pass pit gap 2687-27056. Upcoming pit session should be interested in it in any case. Because if it will open above it, we will have a 5 pass pit gap (never seen before), while if it will open below it we will still have a 4 pass pit gap. Take note of this situation during current GB session development.
4 pass pit gap (now 5 pass) at 2687-27056 tagged from above (at the pip) by A period and rejected again! Above we got comp poc 2751 and the highest high of the pit lower monthly bracket at 2758 (go/no go mid term level). You are watching something that I've never seen before.
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  • #4,382
  • Jul 10, 2017 8:18am Jul 10, 2017 8:18am
Watch out as it failed the first attempt below inside week. If confirmed, next visible target opposite side of prev inside week 29755 (FOR PIT SESSION)
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  • #4,383
  • Jul 10, 2017 8:24am Jul 10, 2017 8:24am
The inside week as absolute value (including all sessions) is 28665-3023. While for pit session only is 28665-29755. So in case of confirmed failure below its lower extremes the natural targets are its higher extremes. Obviously it's only a "direction" and a potential target. Plus we could need more confirmation about actual failure downside.
Anyway note also that the current failure regards also the low of the upper pit monthly bracket at 28637 that remains our go/no go level for current pit session. In case of acceptation above it the odds for a continuation upside will clearly increase.
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  • #4,384
  • Jul 10, 2017 8:59am Jul 10, 2017 8:59am
28885 is Friday pit session settle (unchanged level if you prefer). Acceptation above it is needed in order to have serious continuation upside. Note that current pit action went 1 single pip below Friday pit session high that was also a poor high at 2893. Now this level is even weaker than it was before. This does not mean it has to get it but odds increase in this direction. But watch out again, because a poor high could also mean lack of buying participation and some time it could require a liquidation in order to find new buyers downside. So monitor carefully current environment.
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  • #4,385
  • Jul 16, 2017 9:50pm Jul 16, 2017 9:50pm
Quoting Lock
Watch out as it failed the first attempt below inside week. If confirmed, next visible target opposite side of prev inside week 29755 (FOR PIT SESSION)
Quoting Lock
The inside week as absolute value (including all sessions) is 28665-3023. While for pit session only is 28665-29755. So in case of confirmed failure below its lower extremes the natural targets are its higher extremes. Obviously it's only a "direction" and a potential target. Plus we could need more confirmation about actual failure downside.*
Quoting Lock
Anyway note also that the current failure regards also the low of the upper pit monthly bracket at 28637 that remains our go/no go level for current pit session. In case of acceptation above it the odds for a continuation upside will clearly increase.
Last week clearly failed below previous inside week, both during GB and Pit sessions. (28665 absolute weekly balance low) Also it failed below the upper monthly bracket lows (both GB 2845 and Pit 28637). So, after the confirmed failure downside, price went upside in the direction of the opposite extremes of the weekly balance and eventually took them out (both absolute 3023 and Pit 29755).

*note that after the first failure during monday it needed a further confirmation of the failure downside on tuesday-wendsday before to eventually reatrace upside.

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  • #4,386
  • Jul 19, 2017 10:36pm Jul 19, 2017 10:36pm
Yesterday GB session is inside previous GB session range as yesterday Pit session is inside previous Pit session range: possible breakout could occur from here. My suggestion is to go with the break whereever it will occur, above or below the inside sessions, then monitor for continuation in the direction of the breakout. In case of failure in one direction, natural target will probably be the opposite side of the balance from which the break occurred.
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  • #4,387
  • Jul 20, 2017 6:18am Jul 20, 2017 6:18am
Quoting Lock
Yesterday GB session is inside previous GB session range as yesterday Pit session is inside previous Pit session range: possible breakout could occur from here. My suggestion is to go with the break whereever it will occur, above or below the inside sessions, then monitor for continuation in the direction of the breakout. In case of failure in one direction, natural target will probably be the opposite side of the balance from which the break occurred. {image}
As you see GB succesfully broke downside below yesterday inside GB session. And eventually reached the main composite poc at 2936.

Now we got different participants as we are inside preUS session. Upcoming Pit session could open below yes pit inside session low (3012), with a new gap that if confirmed could lead to continuation downside. At the opposite if upcoming pit will fill the possible new gap downside we could see a complete reversal of this morning break and possibly we could have an outside session, meaning a session that will close above yesterday pit session high (3050).
So let's see the behaviour of Pit market participants at open (15:30+1GMT).
Note that we have a previous Pit gap higher in the zone 2949-3008: this could heavily influence the situation.

We could have 2 scenarios in case of continuation downside:

  1. balance around major composite poc 2936.
  2. filling of the double pass pit gap left downside at 28995-2912.

Instead, in case of a full retracement we could see all the weaknesses left upside up to 31135 and more, taken out.

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  • #4,388
  • Jul 27, 2017 12:39am Jul 27, 2017 12:39am
Significant new GB gap higher from yesterday. 31637 half back of the upper monthly bracket.
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  • #4,389
  • Jul 27, 2017 1:19am Jul 27, 2017 1:19am
C inside B inside A: watch out for a breakout from this balance. In case of failure in one direction, natural target will probabbly be the opposite side of the balance built until now.
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  • #4,390
  • Jul 27, 2017 3:09am Jul 27, 2017 3:09am
Quoting Lock
C inside B inside A: watch out for a breakout from this balance. In case of failure in one direction, natural target will probabbly be the opposite side of the balance built until now.
Attempted break above balance B-C-D
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  • #4,391
  • Jul 31, 2017 2:56pm Jul 31, 2017 2:56pm
Quoting Lock
Significant new GB gap higher from yesterday. 31637 half back of the upper monthly bracket.

Today it eventually managed to break and close above 31637 upper monthly bracket half back. It is significant to note that pit action left downside a single pip GB gap at 3158-3159. Let's see tomorrow or next days if GB participants will be interested to revisit and fill this anomaly.

About major timeframes, after the weekly breakout above inside week 07.02 (see my post 4385 about details of the break), we have now a weekly one timeframing action in the last 3 weeks including current one, so we are in a mid term trend up.

31637 will remain our main reference around this zone: if price will be acceptated above it we could aim at the top of the upper monthly bracket (around 3415). If rejected from above 31637 we could instead see a new test of the low of the upper monthly breacket around 2795. Obviously the upper monthly bracket limits are different for GB and Pit sessions and the levels I gave are to be considered as absolute ones (including all sessions' activities).
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  • #4,392
  • Jul 31, 2017 10:43pm Jul 31, 2017 10:43pm
As a psychological level do not forget that 32273 is the brexit break low.
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  • #4,393
  • Aug 1, 2017 10:25am Aug 1, 2017 10:25am
Even though we are in short and mid trend upside I suggest to take note of the weaknesses left downside during the last days: we have a cluster of lows left during 28/07 ( 3068 zone ) and a cluster of lows made today ( 3195 zone ). Plus we left downside a double pass GB gap as underlined this morning. These zones could be important in case of liquidation.
Furthermore note that we spent the entire day up and down the brexit low level at 32273, meaning indecision. At the same time we saw all the sessions settles above the upper monthly bracket at 31637.

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Ubi maior minor cessat
  • #4,394
  • Edited 4:33am Aug 3, 2017 4:12am | Edited 4:33am
Quoting Lock
Even though we are in short and mid trend upside I suggest to take note of the weaknesses left downside during the last days: we have a cluster of lows left during 28/07 ( 3068 zone ) and a cluster of lows made today ( 3195 zone ).
Quoting Lock
Plus we left downside a double pass GB gap as underlined this morning. These zones could be important in case of liquidation. Furthermore note that we spent the entire day up and down the brexit low level at 32273, meaning indecision. At the same time we saw all the sessions settles above the upper monthly bracket at 31637. {image}
And here you got the liquidation from BREXIT low 32273 to upper monthly bracket half back 31637, at least for now. Let's see if it is enough or if it will continue lower to correct also the 3068 zone.

Quoting Lock
{quote} Today it eventually managed to break and close above 31637 upper monthly bracket half back. It is significant to note that pit action left downside a single pip GB gap at 3158-3159. Let's see tomorrow or next days if GB participants will be interested to revisit and fill this anomaly........
Note that this liquidation also removed, filling it, the old double pass GB GAP left downside at 3158-3159.

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  • #4,395
  • Aug 4, 2017 10:31am Aug 4, 2017 10:31am
ABOUT THE IMPORTANCE OF MARKET GENERATED INFORMATION

Quoting Lock
{quote} Today it eventually managed to break and close above 31637 upper monthly bracket half back. It is significant to note that pit action left downside a single pip GB gap at 3158-3159. Let's see tomorrow or next days if GB participants will be interested to revisit and fill this anomaly.
Quoting Lock
Even though we are in short and mid trend upside I suggest to take note of the weaknesses left downside during the last days: we have a cluster of lows left during 28/07 ( 3068 zone ) and a cluster of lows made today ( 3195 zone ). Plus we left downside a double pass GB gap as underlined this morning. These zones could be important in case of liquidation.
Quoting Lock
Furthermore note that we spent the entire day up and down the brexit low level at 32273, meaning indecision. At the same time we saw all the sessions settles above the upper monthly bracket at 31637. {image}
Quoting Lock
{quote} {quote} And here you got the liquidation from BREXIT low 32273 to upper monthly bracket half back 31637, at least for now. Let's see if it is enough or if it will continue lower to correct also the 3068 zone. {quote} Note that this liquidation also removed, filling it, the old double pass GB GAP left downside at 3158-3159. {image}
So the liquidation occurred and removed all the weaknesses left downside: the first (3195) and the second (3068) cluster of aligned lows and between them the single pip double pass GB GAP (3158-3159). But it is also important to note that this liquidation occurred starting exactly from the BREXIT low at 32273, then retesting from below, again exactly, the upper monthly bracket half back at 31637.

I repost here my chart of the first of August and after that I post the current developed situation. I hope everyone who's following this thread will appreciate the importance of market generated information and the great edge it will give you if you will be able to read and understand these information.

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  • #4,396
  • Aug 7, 2017 1:25am Aug 7, 2017 1:25am
C inside B inside A: breakout possible from here. We got a lot to do both below and above, so watch out for first possible false break. (note also that we opened with a huge GB gap downside: very difficult to retrace during the first day, even if inside it we left 2 GB double pass gaps)
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  • #4,397
  • Aug 7, 2017 1:38am Aug 7, 2017 1:38am
Above we got the Tokyo poor high cluster at 3059 and just above it the first double pass GB gap up to 3068. Inside it we have the mid term ref 3064. The second GB double pass gap is far above at 31315-3138.
Downside we have 3 back to back Pit poor lows: 30233, 3013 and 29584. PLus the Syd poor low at 29875.

So in case of breakout above or below monitor for continuation specially when these refs will be tagged.

For now all this new GB session is above the Friday GB close at 30343: note that current GB low is just 1 single pip above this level. Plus it is only a couple of pips above Sydney weekly low 30335.

Rmember that in case of breakout failure from balance in one direction, the next natural target is the opposite side of the balance.
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  • #4,398
  • Aug 7, 2017 4:13am Aug 7, 2017 4:13am
Nothing changed in the last 3 hours and we are still inside B period never tested nor above nor below. Let's see if we could have a spike in the last 2 periods.
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  • #4,399
  • Aug 8, 2017 7:38am Aug 8, 2017 7:38am
Quoting Lock
Above we got the Tokyo poor high cluster at 3059 and just above it the first double pass GB gap up to 3068. Inside it we have the mid term ref 3064. The second GB double pass gap is far above at 31315-3138. .
Quoting Lock
Downside we have 3 back to back Pit poor lows: 30233, 3013 and 29584. PLus the Syd poor low at 29875. So in case of breakout above or below monitor for continuation specially when these refs will be tagged. ....
All taken out. We now have a poor low left by a previous Tokyo session at 29524. Note that we left above a single pip double pass pIt gap at 3012-3013: I suggest to carry forward this information.

Downside, in case of continuation we also have a double pass pit gap at 28997-2912. But note that we are currently around major composite poc 2968: we need volume to evade it.

Also B period is very elongated.
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  • #4,400
  • Aug 8, 2017 7:51am Aug 8, 2017 7:51am
Quoting Lock
{quote} {quote} All taken out. We now have a poor low left by a previous Tokyo session at 29524. Note that we left above a single pip double pass pIt gap at 3012-3013: I suggest to carry forward this information. Downside, in case of continuation we also have a double pass pit gap at 28997-2912. But note that we are currently around major composite poc 2968: we need volume to evade it. Also B period is very elongated.
Tagged at the pip.
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