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Lock's Cable Corner

  • #4,441
  • Aug 25, 2017 11:23am Aug 25, 2017 11:23am
In case of serious continuation upside (full acceptation above 28637 and 2845 clearly needed for this) the next visible reference is the upper major composite poc at 2965. Above this point of control we have a substantial amount of weak references to eventually correct up to the 3060 zone. But I'm speaking about the bigger perspective. Only an exogenous event could let us climb these levels today.

Also remember that today triple rejection at 2795 is a very weak level as it is an exact one. I'm not saying it cannot last, but I'm saying to carry forward this information if something will go wrong upside.
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  • #4,442
  • Aug 25, 2017 11:29am Aug 25, 2017 11:29am
Quoting Lock
In case of serious continuation upside (full acceptation above 28637 and 2845 clearly needed for this) the next visible reference is the upper major composite poc at 2965. Above this point of control we have a substantial amount of weak references to eventually correct up to the 3060 zone. But I'm speaking about the bigger perspective. Only an exogenous event could let us climb these levels today. Also remember that today triple rejection at 2795 is a very weak level as it is an exact one. I'm not saying it cannot last, but I'm saying to carry forward...
do u think I should close my short 1.2810. I expect some pull back to 1.2840 what do u think let me know.
  • #4,443
  • Aug 25, 2017 1:53pm Aug 25, 2017 1:53pm
Quoting Situhin
{quote} do u think I should close my short 1.2810. I expect some pull back to 1.2840 what do u think let me know.

Do you mean you have a short opened at 2810? Even in that case, I do not know what kind of trader you are (meaning daily, short, mid or long term trader). As a day trader I never carry such a losing position for so long (in terms of time and pips). But this is me and in any case I do not give advises for entry-esc positions.

I can say that we got a poor high right now at 2887 that could be easily revisited. At the same time we could see a retest of 2863 (but also 2845 is possible). The sequence is unpredictable right now. But we are in balance. so balance rules will apply here. Note that in order to evade the major composite poc 2885 we need volume: so a non directional shake out is also possible. If a possible test above 2887 will succeed a continuation upside is in any case possible too: so a short position opened now is clearly risky.
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  • #4,444
  • Aug 25, 2017 2:07pm Aug 25, 2017 2:07pm
Quoting Lock
I can say that we got a poor high right now at 2887 that could be easily revisited. At the same time we could see a retest of 2863 (but also 2845 is possible). The sequence is unpredictable right now. But we are in balance. so balance rules will apply here. Note that in order to evade the major composite poc 2885 we need volume: so a non directional shake out is also possible. If a possible test above 2887 will succeed a continuation upside is in any case possible too: so a short position opened now is clearly...
2887 immediately tagged as you see... Still poor anyway.
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  • #4,445
  • Aug 25, 2017 2:25pm Aug 25, 2017 2:25pm
Quoting Lock
... The sequence is unpredictable right now. But we are in balance. so balance rules will apply here. Note that in order to evade the major composite poc 2885 we need volume: so a non directional shake out is also possible. If a possible test above 2887 will succeed a continuation upside is in any case possible too: so a short position opened now is clearly risky.
For now we got a non directional shake out simply revisiting both the extremes of the balance. 2885 clearly attracting poor price action.
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  • #4,446
  • Aug 25, 2017 2:42pm Aug 25, 2017 2:42pm
Quoting Lock
{quote} For now we got a non directional shake out simply revisiting both the extremes of the balance. 2885 clearly attracting poor price action.
And in fact here we are again at 2885...
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  • #4,447
  • Aug 29, 2017 3:08am Aug 29, 2017 3:08am
Quoting Lock
In case of serious continuation upside (full acceptation above 28637 and 2845 clearly needed for this) the next visible reference is the upper major composite poc at 2965.
Quoting Lock
Above this point of control we have a substantial amount of weak references to eventually correct up to the 3060 zone. But I'm speaking about the bigger perspective. .....
After the full acceptation of 28637 and 2845, here we are, eventually, at the major composite poc 2965.

Remember that 2965 has a strong attraction over weak hands participants. We need volume to evade it.
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  • #4,448
  • Aug 29, 2017 3:11am Aug 29, 2017 3:11am
I suggest to also take care of USDX falling...Remember that 90.53 is 2015 low
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  • #4,449
  • Aug 29, 2017 11:42am Aug 29, 2017 11:42am
Quoting Lock
I suggest to also take care of USDX falling...Remember that 90.53 is 2015 low
Btw note how many anomalies have been left upside by USDX action: specially double and triple multi pass GB gaps. I suggest to carry forward this information and I also suggest to consider the possible implications with cable.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 39 KB
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  • #4,450
  • Aug 31, 2017 1:45am Aug 31, 2017 1:45am
Quoting Lock
{quote} Btw note how many anomalies have been left upside by USDX action: specially double and triple multi pass GB gaps. I suggest to carry forward this information and I also suggest to consider the possible implications with cable. {image}
All retraced by last 2 days action. But now we are above them and they are GB anomalies, so technically they are still anomalies to correct: carry forward this information again.

I re-post here the last USDX chart and I add the current one.

old one:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 39 KB


current one:
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 46 KB
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  • #4,451
  • Sep 5, 2017 3:16am Sep 5, 2017 3:16am
USDX still ruling the environment. After some days of frantic attempts it is still trying to fill the multi pass GB gaps left above and below. The two "clusters" are potentially equally important for future USDX action: consequently GB could be influenced in both directions right now. We could see huge volatility today and next days in order to solve both of them.


In the following chart I tracked the last days evolution in USDX:
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-05_10-00-40_GB GAPS MULTI PASS UNSOLVED.png Size: 205 KB
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  • #4,452
  • Sep 5, 2017 8:42am Sep 5, 2017 8:42am
Pit US opened with a gap higher (from yesterday pit high at 29605). If it will be preserved we could have continuation upside: first step 3020 zone. Then, in case of further continuation we could see the 3060 zone as a possible second step.
Instead, in case of new gap upside retraced and filled, we could see price attracted again by major composite poc 2963.
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  • #4,453
  • Edited 10:34am Sep 5, 2017 10:23am | Edited 10:34am
Quoting Lock
Pit US opened with a gap higher (from yesterday pit high at 29605). If it will be preserved we could have continuation upside: first step 3020 zone. Then, in case of further continuation we could see the 3060 zone as a possible second step. Instead, in case of new gap upside retraced and filled, we could see price attracted again by major composite poc 2963.
As you see, because the gap has been preserved, price action continued higher up 3020 zone. So first step is done. I see the entire US action (Pre US included) as extremely elongated, so, take note of this. Note also that we left downside a poor low at 2982.

Anyway, we also have a poor high right now, so a continuation upwards up to 3060 is a concrete possibility.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-05_17-30-51_US PROFILE.png Size: 87 KB
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  • #4,454
  • Sep 6, 2017 5:37am Sep 6, 2017 5:37am
Quoting Lock
{quote} As you see, because the gap has been preserved, price action continued higher up 3020 zone. So first step is done. I see the entire US action (Pre US included) as extremely elongated, so, take note of this. Note also that we left downside a poor low at 2982. Anyway, we also have a poor high right now, so a continuation upwards up to 3060 is a concrete possibility. {image}
So we currently are just below the 3060 zone, full of weaknesses to correct. At the same time watch out for USDX situation where current GB action is below the 2 major anomalies made by multiple pass GB gap, as shown in the following chart.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-06_12-32-44_USDX SITUATION.png Size: 34 KB
Ubi maior minor cessat
  • #4,455
  • Sep 6, 2017 9:03am Sep 6, 2017 9:03am
Quoting Lock
{quote} So we currently are just below the 3060 zone, full of weaknesses to correct. At the same time watch out for USDX situation where current GB action is below the 2 major anomalies made by multiple pass GB gap, as shown in the following chart. {image}
All weaknesses taken out at 3060 zone. Now monitor carefully for continuation and evaluate current new gap upside still existing (from yesterday pit high at 3042). Remember USDX situation for next price action (today and next days): carry forward this information.
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  • #4,456
  • Sep 6, 2017 9:07am Sep 6, 2017 9:07am
3064 first go no go level: acceptation above it needed for serious continuation upside. If not...
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  • #4,457
  • Sep 6, 2017 9:19am Sep 6, 2017 9:19am
Quoting Lock
{quote} All weaknesses taken out at 3060 zone. Now monitor carefully for continuation and evaluate current new gap upside still existing (from yesterday pit high at 3042). Remember USDX situation for next price action (today and next days): carry forward this information.
New upside gap fully retraced. (below 3042)

Quoting Lock
3064 first go no go level: acceptation above it needed for serious continuation upside. If not...
Clear first rejection above 3064.

Now, if the game was only "retrace the new gap" we should see a clear bounce. If not we could have a full correction of the entire yesterday pit action. So monitor carefully a possible acceptation or rejection below 3042. Meaning inside yesterday pit range (2982-3042).
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  • #4,458
  • Sep 6, 2017 9:57am Sep 6, 2017 9:57am
Quoting Lock
{quote} New upside gap fully retraced. (below 3042) {quote} Clear first rejection above 3064. Now, if the game was only "retrace the new gap" we should see a clear bounce. If not we could have a full correction of the entire yesterday pit action. So monitor carefully a possible acceptation or rejection below 3042. Meaning inside yesterday pit range (2982-3042).
So bounce below 3042 and back again at 3064 for a second test: let's see.
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  • #4,459
  • Sep 6, 2017 10:00am Sep 6, 2017 10:00am
If we will have acceptation above 3064 we could have continuation as said. Maybe up to 3118 zone. If no acceptation will be obtained above 3064 we could have rotation. So monitor carefully price action above this value.
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  • #4,460
  • Sep 6, 2017 10:11am Sep 6, 2017 10:11am
Note price action up and down 3064. For now we got 1 m30 period closed above it: we need 2 of them technically for acceptation.
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