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Lock's Cable Corner

  • #4,641
  • Sep 20, 2017 2:31pm Sep 20, 2017 2:31pm
Quoting Lock
Yesterday pit session was an inside one. So currently we have the possibility of an out side session. Now we have to stay below the Monday pit session low 3464.
For now we do not have acceptation below it. At the same time I do not like current low.
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  • #4,642
  • Sep 20, 2017 3:09pm Sep 20, 2017 3:09pm
Quoting Lock
We are inside the gap upside from last Thursday pit session. (down to 34055) But if we fail below 3464 (no acceptation below it) for today it's over.
Well, let's see tomorrow. "I" period inside "K" period: balance. Attempted break above the balance. No acceptation below 3464. Composite poc 3521. Main levels: 3503 (2009 absolute low) and 35326 (upper monthly bracket high).

For those who will continue to follow the market, have a nice continuation. Best, L.

PS: Remember that 3450 round is weak. Carry forward this info.
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  • #4,643
  • Sep 21, 2017 8:02am Sep 21, 2017 8:02am
Quoting Lock
{quote} Well, let's see tomorrow. "I" period inside "K" period: balance. Attempted break above the balance. No acceptation below 3464. Composite poc 3521. Main levels: 3503 (2009 absolute low) and 35326 (upper monthly bracket high). For those who will continue to follow the market, have a nice continuation. Best, L. PS: Remember that 3450 round is weak. Carry forward this info.
These are obviously the most important levels also today. As you see.

On minor scale: GB poor high 3513 and poor low 34703 (total uncertainty). Plus GB poor high back to back with untested Tokyo high.
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  • #4,644
  • Sep 21, 2017 8:05am Sep 21, 2017 8:05am
Yesterday pit session failed to be an outside one and close inside the range of the previous session. Also yesterday profile is a double distribution. So consider these 2 distributions as separate sessions at all. Monitor today pit session value and price in comperison with respective range limits of these 2 "sessions"
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  • #4,645
  • Sep 21, 2017 8:19am Sep 21, 2017 8:19am
Lock, if I were to begin (key word!) to study this type of market analysis, what resources would you suggest. I am a highly experienced trader using pure price action but not familiar with Market Profile. Your suggestions as to a "curriculum" would be most welcome.

Many thanks,
TULKAS
  • #4,646
  • Sep 21, 2017 8:55am Sep 21, 2017 8:55am
Quoting Lock
{quote} These are obviously the most important levels also today. As you see. On minor scale: GB poor high 3513 and poor low 34703 (total uncertainty). Plus GB poor high back to back with untested Tokyo high.
Taken out and testing. If no acceptation above it we could aim at the opposite side of balance (meaning GB poor low) at 34703. In case of acceptation above we could test the upper monthly bracket high again at 35326
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  • #4,647
  • Sep 21, 2017 9:00am Sep 21, 2017 9:00am
Quoting Tulkas
Lock, if I were to begin (key word!) to study this type of market analysis, what resources would you suggest. I am a highly experienced trader using pure price action but not familiar with Market Profile. Your suggestions as to a "curriculum" would be most welcome. Many thanks,

Hi Tulkas, it is a very complex matter and first of all it will require a substantial amount of time. I suggest to start with the very basic market profile manual edited by CBOT. Then continue with the classics like Steidlmayer's, Alexander's and Dalton's books. After that the best continuation will be with the online huge amount of free registered Jim Dalton's webinars.

I hope it could help. Best, L.
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  • #4,648
  • Sep 21, 2017 9:04am Sep 21, 2017 9:04am
Mille grazie.
TULKAS
  • #4,649
  • Sep 21, 2017 9:05am Sep 21, 2017 9:05am
Quoting Tulkas
Mille grazie.
You're welcome.
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  • #4,650
  • Sep 22, 2017 9:06am Sep 22, 2017 9:06am
3586 very weak and poor high. Carry forward this info.
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  • #4,651
  • Sep 22, 2017 9:20am Sep 22, 2017 9:20am
35326 top of upper monthly bracket tagged again from below.
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  • #4,652
  • Sep 22, 2017 9:44am Sep 22, 2017 9:44am
A and B period unable to stay below yesterday pit session range low at 3489. We got a poor and weak preUS high at 3586. B inside period of A and C attempting a break above B inside period.
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  • #4,653
  • Sep 22, 2017 9:46am Sep 22, 2017 9:46am
35565 is yesterday pit pull back low test level. Acceptation above it needed for any serious continuation upside.
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  • #4,654
  • Sep 22, 2017 9:52am Sep 22, 2017 9:52am
Quoting Lock
35326 top of upper monthly bracket tagged again from below.

And, as normal, now tested from above..
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  • #4,655
  • Sep 22, 2017 10:13am Sep 22, 2017 10:13am
Quoting Lock
A and B period unable to stay below yesterday pit session range low at 3489. We got a poor and weak preUS high at 3586. B inside period of A and C attempting a break above B inside period.
Quoting Lock
35565 is yesterday pit pull back low test level. Acceptation above it needed for any serious continuation upside.
C attempted above B inside period, failed above yesterday pit session pull back low 35566 (no acceptation above it) and here we are at the opposite side of B period balance. Balance rules applied as normal.
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  • #4,656
  • Sep 25, 2017 1:22am Sep 25, 2017 1:22am
I suggest to take care of USDX situation that could potentially influence again cable. Also note that last week (considering only GB sessions) is an inside one. Meaning balance, obviously. So balance rules will apply here. Take care of the extremes of the last GB week.

USDX anomalies to correct
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-25_8-16-06_USDX.png Size: 45 KB


GB sessions weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-25_8-22-31_GB WEEK INSIDE.png Size: 77 KB
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  • #4,657
  • Sep 25, 2017 1:42am Sep 25, 2017 1:42am
Most important levels are always the same:

  1. 3503 2009 GB absolute low
  2. 35326 upper monthly bracket top (for any session)
  3. 3547 2009 Tokyo low (specially until Tokyo session close)
  4. 36065 2009 Pit session low (specially after pit open)
  5. and eventually the brexit close level at 36767 that could attract price for a re test.

I also add for upcoming GB session the last week GB close at 3530. And the highest GB close for current year at 35757.

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  • #4,658
  • Sep 25, 2017 1:49am Sep 25, 2017 1:49am
Remember also that 3586 is very weak and poor high. As current Sydney poor low at 3483 and as it is weak the last pit session low at 34495 as it is a perfect tag of a previous pit low plus round number (3450).

Carry forward these info.
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  • #4,659
  • Sep 25, 2017 3:30am Sep 25, 2017 3:30am
Last period for Tokyo participants. And we are exactly at 35326 upper monthly bracket top. And at the bottom of last Friday GB session. (Plus half back of current GB session).

Note the new poor low at 35095. And also note the current high weak at 35605 as it is a perfect tag of Friday GB session unchanged level. Overall it is a very weak environment ruled by weak participants.
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  • #4,660
  • Sep 25, 2017 3:40am Sep 25, 2017 3:40am
Quoting Lock
Most important levels are always the same: 3503 2009 GB absolute low 35326 upper monthly bracket top (for any session) 3547 2009 Tokyo low (specially until Tokyo session close) 36065 2009 Pit session low (specially after pit open) and eventually the brexit close level at 36767 that could attract price for a re test.
Quoting Lock
I also add for upcoming GB session the last week GB close at 3530. And the highest GB close for current year at 35757.
Note also the struggling to evaluate acceptation below or above Friday GB session close at 3530
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