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Lock's Cable Corner

  • #4,541
  • Sep 12, 2017 9:40am Sep 12, 2017 9:40am
nice thread thanks lock .i think it may be lil retrace (if you have any objection about my post let me know)be cypher pattern at 4h /1h tf ..but buyers are super active
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  • #4,542
  • Sep 12, 2017 10:41am Sep 12, 2017 10:41am
Quoting classy
nice thread thanks lock .i think it may be lil retrace (if you have any objection about my post let me know)be cypher pattern at 4h /1h tf ..but buyers are super active {image}
Surely it has been some automatic trigger at a minor level because generally stronger hands do not butcher a market like that. And in fact they didn't manage to fill the new gap upside nor to establish acceptation below 3250. And then here we are again where we were before the liquidation. Now I hope to see continuation because I re - enter at D period low (3261) and I will not like a new surprise.
Best, L

PS: thanks for your appreciations.
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  • #4,543
  • Sep 12, 2017 10:43am Sep 12, 2017 10:43am
Let me say a final thing: the liquidation tested the brexit low at 32273.* And it failed. So currently we have acceptation above it.

*and btw this could be the reason for the liquidation, whatever the starting level was for it.
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  • #4,544
  • Sep 12, 2017 12:04pm Sep 12, 2017 12:04pm
Very prominent poc for current pit session. I'm off for now. Let's see later or tomorrow.
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  • #4,545
  • Sep 12, 2017 12:43pm Sep 12, 2017 12:43pm
Quoting Lock
Very prominent poc for current pit session. I'm off for now. Let's see later or tomorrow.

But it could spike.
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  • #4,546
  • Sep 13, 2017 3:49am Sep 13, 2017 3:49am
Remember that a liquidation removes from the market a potential selling activity. Those who had inventories too long after a liquidation could find themselves with inventories too short.
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  • #4,547
  • Sep 13, 2017 3:52am Sep 13, 2017 3:52am
32724 is yesterday GB unchanged level. While 32786 is yesterday GB close level. Any meaningful continuation downside requires acceptation below both of these levels. If not we could experience a full reversal of this liquidation. In case of acceptation below them instead we could see continuation but always remembering the very poor structure left above.
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  • #4,548
  • Sep 13, 2017 3:53am Sep 13, 2017 3:53am
Remember also that 32674 is the top of the minr bracket. So it could work as support for short and mid term traders.
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  • #4,549
  • Sep 13, 2017 4:08am Sep 13, 2017 4:08am
I really appreciate your input Lock! It saves me a lot of time checking the important stuff. Cheers!
  • #4,550
  • Sep 13, 2017 5:01am Sep 13, 2017 5:01am
Incredible precision on 3261... In the words of Darth Vader: "Impressive...most impressive!"
TULKAS
  • #4,551
  • Sep 13, 2017 5:22am Sep 13, 2017 5:22am
Now, E and F periods closed both below yesterday GB unch and close levels: so we got acceptation below them This means that a change is occurred. The liquidation could be substantial at least for GB participants. An other story will regard the new upcoming participants after 14:30 +1GMT and specially after 15:30 when we will have US pit involved.
Considering that this is a liquidation (see the poor high of this morning at 3329 and the extreme elongation of the GB profile) we have to be extremely careful about the possibility of a substantial continuation downside. For this reason the participation of new, different, money has to be handled with care.
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  • #4,552
  • Sep 13, 2017 5:25am Sep 13, 2017 5:25am
Also, as written yesterday and multiple times in the days before, we have something big to solve upside in USDX. So I repeat here that this could influence the current and the next days development in cable.
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  • #4,553
  • Sep 13, 2017 5:31am Sep 13, 2017 5:31am
Quoting Lock
Let me say a final thing: the liquidation tested the brexit low at 32273.* And it failed. So currently we have acceptation above it. *and btw this could be the reason for the liquidation, whatever the starting level was for it.
Note that yesterday Pit fast liquidation occurred in order to test the brexit low at 32273. And it failed just 1 pip above it. So GB participants (if we will not remain in balance where we currently are) could be interested in a new, independent, test of this important psychological level.
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  • #4,554
  • Sep 13, 2017 5:47am Sep 13, 2017 5:47am
Lock, is there a significance to this morning's high print at 1.33274?
TULKAS
  • #4,555
  • Sep 13, 2017 7:00am Sep 13, 2017 7:00am
Quoting Lock
{quote} Note that yesterday Pit fast liquidation occurred in order to test the brexit low at 32273. And it failed just 1 pip above it. So GB participants (if we will not remain in balance where we currently are) could be interested in a new, independent, test of this important psychological level.
So we remain in balance here and now preUS is going to open inside yesterday pit session range. Note both poor low and poor high for today GB session.
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  • #4,556
  • Sep 13, 2017 7:06am Sep 13, 2017 7:06am
Quoting Lock
{quote} So we remain in balance here and now preUS is going to open inside yesterday pit session range. Note both poor low and poor high for today GB session.
Yesterday pit session high is poor at 3298. Carry forward also this information.
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  • #4,557
  • Sep 13, 2017 7:09am Sep 13, 2017 7:09am
Quoting Tulkas
Lock, is there a significance to this morning's high print at 1.33274?
3328 is a perfect tag of the bottom of the old GB gap from 09.08.2016 So it is not only a poor high (because 2 m30 periods established their highs at the same level) but it is also a weak high as it is a perfect tag of a previous reference. And this is an other reason that lead me to consider this morning GB action downside as liquidation. And not new money selling.
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  • #4,558
  • Sep 13, 2017 7:12am Sep 13, 2017 7:12am
Keep in mind that a liquidation could last for more than a session or a day. It depends upon the inventories. So even if that high is clearly poor and weak it doesn't mean it has to be corrected right now. The important information is that it is a weak level. And anyone has to be aware of this simple market provided info.
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  • #4,559
  • Sep 13, 2017 7:22am Sep 13, 2017 7:22am
For upcoming Pit session (but also for current preUS) note that 32655 is yesterday pit session pull back low*. So a change could occur with an acceptation below this level. If not it will mean that nothing changed from yesterday.

*a pull back low is a test in the opposite direction of the trending action upside. If the result of this test is preserved the next day then we could imagine that nothing changed form previous day and the action could continue higher.
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  • #4,560
  • Sep 13, 2017 7:59am Sep 13, 2017 7:59am
Quoting Lock
Remember also that 32674 is the top of the minr bracket. So it could work as support for short and mid term traders.
Pre US testing the top of the minor bracket as also done this morning by GB.
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