Lock's Cable Corner | Page 229 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #4,561
  • Sep 13, 2017 8:01am Sep 13, 2017 8:01am
Quoting Lock
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.
Note the almost perfect tag of this reference by B period low...
Ubi maior minor cessat
  • #4,562
  • Sep 13, 2017 8:40am Sep 13, 2017 8:40am
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.
GB poor low taken out.
Ubi maior minor cessat
  • #4,563
  • Sep 13, 2017 8:53am Sep 13, 2017 8:53am
may gusd test highlited ptz ..let's see
Attached Image (click to enlarge)
Click to Enlarge Name: may be test this area.png Size: 34 KB
Say something meaningful or Silence!!
  • #4,564
  • Sep 13, 2017 8:59am Sep 13, 2017 8:59am
interesting ptz for gusd ..imho bounce or break?what you say mate
Attached Image (click to enlarge)
Click to Enlarge Name: gusd 30m cypher.png Size: 40 KB
Say something meaningful or Silence!!
  • #4,565
  • Sep 13, 2017 10:04am Sep 13, 2017 10:04am
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.

And here we are at brexit low 32273 for a new test. Not independent anyway because pit participants are again involved.
Ubi maior minor cessat
  • #4,566
  • Sep 13, 2017 10:06am Sep 13, 2017 10:06am
We got a poor low and a single pip double pass gap at 3216. And we are below yesterday pull back low.
Ubi maior minor cessat
  • #4,567
  • Sep 13, 2017 10:08am Sep 13, 2017 10:08am
Quoting classy
interesting ptz for gusd ..imho bounce or break?what you say mate {image}
It broke it. The problem here is to have acceptation below brexit low now. Or not.
Ubi maior minor cessat
  • #4,568
  • Sep 13, 2017 10:30am Sep 13, 2017 10:30am
Quoting Lock
We got a poor low and a single pip double pass gap at 3216. And we are below yesterday pull back low.
Filled. Note that e are only some pips above Monday pit session high at 32035. Meaning that we still have a gap upside from Monday. Let's see if it want to fill it now.
Ubi maior minor cessat
  • #4,569
  • Sep 13, 2017 10:41am Sep 13, 2017 10:41am
Quoting Lock
There is also a bigger problem, regarding the USDX situation that, as underlined in the last days, presents huge GB anomalies left upside during the last break downside. And this clearly could influence cable. {image}
I repost here the last USDX chart and I add the current situation. Note that those anomalies has to be corrected by GB action so if Pit will go above them then we will have the same situation in the opposite direction.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-12_13-05-59_USDX.png Size: 34 KB


current
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-13_17-37-35_USDX.png Size: 30 KB
Ubi maior minor cessat
  • #4,570
  • Sep 13, 2017 10:43am Sep 13, 2017 10:43am
Quoting Lock
{quote} Filled. Note that e are only some pips above Monday pit session high at 32035. Meaning that we still have a gap upside from Monday. Let's see if it want to fill it now.
Old gap filled at the pip. Weak low as it is too precise.
Ubi maior minor cessat
  • #4,571
  • Sep 13, 2017 10:44am Sep 13, 2017 10:44am
I think most of traders here in FF (and outside FF) have no idea of these levels nor of their meanings. And this is a good edge for us.
Ubi maior minor cessat
  • #4,572
  • Sep 13, 2017 10:48am Sep 13, 2017 10:48am
GB poor low at 31923 still in place (from Tuesday GB session). Note the major composite poc just some pips below it. It could attract price. Never forget that all the action from this morning GB session is a liquidation. So watch out because it is not new money selling but old business. (liquidation of inventories too long)
Ubi maior minor cessat
  • #4,573
  • Sep 13, 2017 12:06pm Sep 13, 2017 12:06pm
Quoting Lock
GB poor low at 31923 still in place (from Tuesday GB session). Note the major composite poc just some pips below it. It could attract price. Never forget that all the action from this morning GB session is a liquidation. So watch out because it is not new money selling but old business. (liquidation of inventories too long)
Taken out. And here we are at the composite poc 3191: volume required to evade it. We also have a cluster of lows at 3159 level. But a correction is absolutely possible before to get it. And remember that this is a liquidation as said multiple times.
Ubi maior minor cessat
  • #4,574
  • Sep 13, 2017 12:29pm Sep 13, 2017 12:29pm
Major composite poc moved to 3206 but 3191 is almost equal to it so it could alternate from one to the other easily.
Ubi maior minor cessat
  • #4,575
  • Sep 13, 2017 12:56pm Sep 13, 2017 12:56pm
I'm off for today. Let's see tomorrow. Best, L.

PS: a textbook day and I suggest to re read the last posts just for recap because such environments are not so common.
Ubi maior minor cessat
  • #4,576
  • Sep 13, 2017 12:57pm Sep 13, 2017 12:57pm
Mille grazie, Maestro...
TULKAS
  • #4,577
  • Sep 13, 2017 1:04pm Sep 13, 2017 1:04pm
Quoting Tulkas
Mille grazie, Maestro...
Thank you very much indeed. Best, L.
Ubi maior minor cessat
  • #4,578
  • Sep 14, 2017 2:42am Sep 14, 2017 2:42am
Be careful: this is the USDX situation and today volatility is expected.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-14_9-36-11_USDX SITUATION.png Size: 27 KB
Ubi maior minor cessat
  • #4,579
  • Sep 14, 2017 2:47am Sep 14, 2017 2:47am
Composite poc, prominent, at 3206. Cluster of lows (included a poor pit low at 31595. Yesterday GB close at 32175. Brexit low at 32273. Big new GB gap downside from yesterday GB low at 3252. GB highest close for 2017 at 32786. Very poor structure left by yesterday liquidation downside. And current September high is both poor and weak at 3329. USDX could heavily influence cable today.
Ubi maior minor cessat
  • #4,580
  • Sep 14, 2017 2:54am Sep 14, 2017 2:54am
So we could have some different scenarios here.

  1. We could wait for news here around the major composite poc at 3206, rotating above and below it and preserving the current new gap downside.
  2. It is possible to preserve the new gap downside and continue in the liquidation downside. For instance taking out the bad cluster of lows at 31595.
  3. At the opposite it is possible to see a full correction of the yesterday liquidation, including obviously the filling of the new gap up to 3252. And then continuing up to yesterday GB poor high at 3329 establishing a new better extreme upside.

In any case remember that yesterday we got a liquidation, and not new money selling. Yesterday structure is very poor. We are going to have volatility after and during news. USDX could heavily influence cable and its condition (of USDX) is complex as price is in between two big clusters of anomalies left during the last weeks.

Ubi maior minor cessat
4 traders viewing now