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Lock's Cable Corner

  • #4,501
  • Sep 7, 2017 7:50am Sep 7, 2017 7:50am
C inside B inside A. And no acceptation below 30815.
Ubi maior minor cessat
  • #4,502
  • Sep 7, 2017 8:01am Sep 7, 2017 8:01am
Quoting Lock
We are in a situation similar to the one we saw yesterday at pit open. The new element is that we opened inside a previous pit gap downside from 08/03-04 (up to 3112 level)
And here we are: old Pit gap filled.
Ubi maior minor cessat
  • #4,503
  • Sep 7, 2017 8:35am Sep 7, 2017 8:35am
For only some pips it failed once to reach 31187 and started to liquidate. I'm off for today even if it will continue liquidating or if it will try a new attempt to 31187. This decision is due to the complex situation in USDX. Let's see tomorrow. Best, L.
Ubi maior minor cessat
  • #4,504
  • Sep 8, 2017 12:02am Sep 8, 2017 12:02am
Quoting Lock
For only some pips it failed once to reach 31187 and started to liquidate. I'm off for today even if it will continue liquidating or if it will try a new attempt to 31187. This decision is due to the complex situation in USDX. Let's see tomorrow. Best, L.
It eventually broke up above 31187. For today the most important levels will then be: the closest major composite poc (where we currently are balancing) at 3138, the lower level 31187 and the half back of the upper monthly bracket at 31637.

Also GB opened with a substantial GB gap upside from yesterday GB high at 31025.
Ubi maior minor cessat
  • #4,505
  • Sep 8, 2017 12:06am Sep 8, 2017 12:06am
Quoting Lock
{quote} Double pass GB gap filled. Now we could continue higher if we will get acceptation above 30705, maybe up to the next double pass GB gap left at 31317-31355 or, at the contrary we could bounce in case of non acceptation above yesterday GB close level 30705 In any case do not forget what I wrote yesterday* about the poor high for September left at 30815: it is very suspect as a month high. *{quote}
Note that GB opend just a couple of pips below the old double pass GB gap at 31317-31355 and immediately filled it. So after the correction we saw downside yesterday (when I left the market) price made the rally to solve this zone. Now, remember that in order to evade 3137-38 (major composite poc) volume is needed.

I also suggest to take care about the USDX situation.
Ubi maior minor cessat
  • #4,506
  • Sep 8, 2017 12:16am Sep 8, 2017 12:16am
I finally suggest to carry forward the fact that the old single pass GB gap downside from 08/04-07 is now double pass down to yesterday GB high at 31025.
Ubi maior minor cessat
  • #4,507
  • Sep 8, 2017 12:24am Sep 8, 2017 12:24am
Remember: in USDX very rare groups of anomalies are currently above price action.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-08_9-22-03_USDX.png Size: 30 KB
Ubi maior minor cessat
  • #4,508
  • Sep 8, 2017 12:24am Sep 8, 2017 12:24am
Lock in short can you make it simpler to understand...
  • #4,509
  • Edited 1:09am Sep 8, 2017 12:58am | Edited 1:09am
Quoting Trade-G
Lock in short can you make it simpler to understand...

I would like to but it is actually impossible. First of all markets are not simply. Secondly this thread is for those who knows the things I'm speaking about. If you are new to this matter I suggest to run the normal path to obtain all the needed basic information. For instance, you may start studying the market profile manual edited by CBOT. Or, if you like, you may start studying all the free webinars of Mr. Jim Dalton that you may easily find on the net.

I hope it could help. Best , L
Ubi maior minor cessat
  • #4,510
  • Sep 8, 2017 1:01am Sep 8, 2017 1:01am
So for now the new GB gap upside holded. If this condition will be preserved we could aim at continuation at least up to 31637. The problems here are 3:
first we got a very strange environment in USDX where a bunch of very rare anomalies are left upside. Second, we got a double pass GB gap just below us. Third, we need high volume to evade 3137 and news are upcoming.
Ubi maior minor cessat
  • #4,511
  • Sep 8, 2017 1:22am Sep 8, 2017 1:22am
In case of spike from here (if the new GB gap will hold) we could also reach the top of the current minor bracket (32674). In case of shake out instead the visible boundaries are, as said this morning, 31187 below and 31637 upside. Finally in case of full liquidation from here we have space down to 2980 zone. So watch out.
Ubi maior minor cessat
  • #4,512
  • Sep 8, 2017 1:24am Sep 8, 2017 1:24am
On the major scale we are in one timeframing higher action daily and weekly.
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  • #4,513
  • Sep 8, 2017 1:37am Sep 8, 2017 1:37am
Very weak high as it is a perfect tag of Tokyo high plus round number.
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  • #4,514
  • Sep 8, 2017 1:38am Sep 8, 2017 1:38am
Quoting Lock
{quote} Note that GB opend just a couple of pips below the old double pass GB gap at 31317-31355 and immediately filled it. So after the correction we saw downside yesterday (when I left the market) price made the rally to solve this zone. Now, remember that in order to evade 3137-38 (major composite poc) volume is needed. I also suggest to take care about the USDX situation.
Note that for now any attempt to evade the composite poc at 3137 has been frustrated.
Ubi maior minor cessat
  • #4,515
  • Sep 8, 2017 1:40am Sep 8, 2017 1:40am
So we got a weak/poor high and a poor low (this one supported by the new gap), plus C and B periods' lows both at open price: extremely weak environment.
Ubi maior minor cessat
  • #4,516
  • Sep 8, 2017 2:18am Sep 8, 2017 2:18am
Quoting Lock
Very weak high as it is a perfect tag of Tokyo high plus round number.
Tagged again and again: extremely weak.
Ubi maior minor cessat
  • #4,517
  • Sep 8, 2017 2:31am Sep 8, 2017 2:31am
Quoting Lock
So for now the new GB gap upside held. If this condition will be preserved we could aim at continuation at least up to 31637. The problems here are 3: first we got a very strange environment in USDX where a bunch of very rare anomalies are left upside. Second, we got a double pass GB gap just below us. Third, we need high volume to evade 3137 and news are upcoming.
So the gap held even after news and here we are just some pips below 31637. If we reach it we could have a bounce* or continuation. So be careful there. In any case remember that we are in a mid term trend upside.

*A possible bounce as liquidation but not as a serious downside action in my opinion, specially if you will see a perfect tag of it.
Ubi maior minor cessat
  • #4,518
  • Sep 8, 2017 3:43am Sep 8, 2017 3:43am
Quoting Lock
{quote} So the gap held even after news and here we are just some pips below 31637. If we reach it we could have a bounce* or continuation. So be careful there. In any case remember that we are in a mid term trend upside. *A possible bounce as liquidation but not as a serious downside action in my opinion, specially if you will see a perfect tag of it.
Price went through our 31637 and continue higher. It will remain one of our most important ref for today. We are building a big new pit gap upside. Next major composite poc 3223. Top of the minor bracket, as said before, is 32674. Very elongated profile for GB session.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-08_12-45-18_sessions.png Size: 84 KB
Ubi maior minor cessat
  • #4,519
  • Sep 8, 2017 6:48am Sep 8, 2017 6:48am
Quoting Lock
{quote} Price went through our 31637 and continue higher. It will remain one of our most important ref for today. We are building a big new pit gap upside. Next major composite poc 3223. Top of the minor bracket, as said before, is 32674. Very elongated profile for GB session. {image}
Pit US opened with a huge gap upside and right inside a previous gap downside. Note that preUS tagged the composite poc at 3223 and then liquidate some. Considering the poor structure of today GB session a liquidation is possible but remember that we are in a mid term trend upside and above a substantial new gap upside.
Ubi maior minor cessat
  • #4,520
  • Sep 8, 2017 6:51am Sep 8, 2017 6:51am
Also remember that the brexit low is at 32273 and we are not so far from it: it could attract price for a new test.
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