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Lock's Cable Corner

  • #4,661
  • Sep 25, 2017 5:23am Sep 25, 2017 5:23am
Quoting Lock
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.
Quoting Lock
{quote} {quote} Note also the struggling to evaluate acceptation below or above Friday GB session close at 3530
Market generated information: we could go upside or downside, but no acceptation above Friday GB close 3530 and here we are downside (instead of upside) in order to take out the early morning poor low at 35095.
Ubi maior minor cessat
  • #4,662
  • Sep 25, 2017 5:25am Sep 25, 2017 5:25am
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. I also add for upcoming GB session the last week GB close at 3530. And the highest GB close for current year at 35757.
Testing GB 2009 low at 3503.
Ubi maior minor cessat
  • #4,663
  • Sep 25, 2017 5:26am Sep 25, 2017 5:26am
Quoting Lock
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.
In case of continuation we could also take out the Sydney poor low at 3483. But monitor for acceptation below 3503 because it is a mid/long term level.
Ubi maior minor cessat
  • #4,664
  • Sep 25, 2017 5:52am Sep 25, 2017 5:52am
Quoting Lock
{quote} In case of continuation we could also take out the Sydney poor low at 3483. But monitor for acceptation below 3503 because it is a mid/long term level.
And here we are
Ubi maior minor cessat
  • #4,665
  • Sep 25, 2017 5:57am Sep 25, 2017 5:57am
At the same time USDX rallied but it is now at composite poc 92.49 so it could be attracted here for a while. Anomalies at 92.84 are always possible but we now need volume to evade this poc.
Ubi maior minor cessat
  • #4,666
  • Sep 25, 2017 6:03am Sep 25, 2017 6:03am
Quoting Lock
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 {image} GB sessions weekly. {image}

Remember that 3468 is last GB inside week low. So, if reached, it will be our most important level for current action. Btw the bottom of an inside week (as a price zone) is always dangerous.
Ubi maior minor cessat
  • #4,667
  • Sep 25, 2017 6:35am Sep 25, 2017 6:35am
"I" inside bar.
Ubi maior minor cessat
  • #4,668
  • Sep 25, 2017 10:13am Sep 25, 2017 10:13am
34825 very weak and poor low
Ubi maior minor cessat
  • #4,669
  • Sep 25, 2017 10:16am Sep 25, 2017 10:16am
At the same time D period high is weak as it is open price 3511. And we also have a poor high for this session at 3522.

Extremely weak environment.
Ubi maior minor cessat
  • #4,670
  • Sep 25, 2017 10:18am Sep 25, 2017 10:18am
And, from this late morning we saw a struggling action around one of our most important level, meaning 3503, 2009 GB low
Ubi maior minor cessat
  • #4,671
  • Sep 25, 2017 10:21am Sep 25, 2017 10:21am
So take care of USDX situation. It could lead market in cable.
Ubi maior minor cessat
  • #4,672
  • Sep 25, 2017 10:23am Sep 25, 2017 10:23am
Quoting Lock
34825 very weak and poor low
And here we are.
Ubi maior minor cessat
  • #4,673
  • Sep 25, 2017 10:41am Sep 25, 2017 10:41am
Testing overnight low (GB low)34742. Acceptation below it needed for continuation. In case of failure all the way back to the upper poor high 3522 underlined previously. In case of continuation instead we could see price aiming at lower composite poc 3397.
Ubi maior minor cessat
  • #4,674
  • Sep 25, 2017 10:47am Sep 25, 2017 10:47am
USDX still rallying towards upper GB old anomalies. Let's see. It need volume to evade 92.49
Ubi maior minor cessat
  • #4,675
  • Sep 25, 2017 10:50am Sep 25, 2017 10:50am
Note that this is the last period for London.
Ubi maior minor cessat
  • #4,676
  • Sep 25, 2017 10:54am Sep 25, 2017 10:54am
Quoting Lock
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.
To be totally honest this (the Friday weak low at 34495) is the second reason (added to current USDX situation) that leaded me to consider a move downside possible. But the structure left above during current session is very very weak. So watch out. Specially if you will not see acceptation below ovevnight low 34742.
Ubi maior minor cessat
  • #4,677
  • Sep 25, 2017 11:00am Sep 25, 2017 11:00am
Quoting Lock
{quote} To be totally honest this (the Friday weak low at 34495) is the second reason (added to current USDX situation) that leaded me to consider a move downside possible. But the structure left above during current session is very very weak. So watch out. Specially if you will not see acceptation below ovevnight low 34742.

Here we are, taken out

But now watch out again because for any serious continuation we need acceptation below it. If not...
Ubi maior minor cessat
  • #4,678
  • Sep 25, 2017 11:14am Sep 25, 2017 11:14am
Update of USDX situation. It is important to note that GB anomalies could be correct only by GB action. So even if we reach them we have to imagine GB price action over them tomorrow or next days. And, again, this could continue to lead cable.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-25_18-09-33_USDX pit.png Size: 85 KB
Ubi maior minor cessat
  • #4,679
  • Sep 25, 2017 11:33am Sep 25, 2017 11:33am
During current Pit session we are leaving upside 4 anomalies and a poor high(3522). Also at least 2 weak period's highs at 3490(Friday unchanged) and 3511 today pit open. So a short cover is possible at any moment in time. But this could happen if we will not see acceptation below Friday pit low 34495, as already said.
If in fact USDX will continue its rally and if we will have acceptation below 34495, the possibility to reach lower composite poc at 3397 is still in place. So monitor carefully the situation and be ready to react to a possible change.

Btw I scale out more than 50 % of my shorts right now. If needed I'll add some more after acceptation or close everything in case of no-acceptation.
Ubi maior minor cessat
  • #4,680
  • Sep 25, 2017 11:37am Sep 25, 2017 11:37am
Quoting Lock
During current Pit session we are leaving upside 4 anomalies and a poor high(3522). Also at least 2 weak period's highs at 3490(Friday unchanged) and 3511 today pit open. So a short cover is possible at any moment in time. But this could happen if we will not see acceptation below Friday pit low 34495, as already said. If in fact USDX will continue its rally and if we will have acceptation below 34495, the possibility to reach lower composite poc at 3397 is still in place. So monitor carefully the situation and be ready to react to a possible change....
you expect to see 1.3511 if no acception below Friday low?

and how do you determine your acception below/above?
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