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Attachments: Lock's Cable Corner
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Lock's Cable Corner

Quoting Lock
Market Generated Information. Tokyo activity as normal as been ruled by weaker hands. So when you see weak hands ruling an action in a certain direction and then new stronger participants stepping in (like GB in this case) the possibility of a full retracement of the last weak action is more than 65%. In this case we also saw a test of a very important level failed upside. So you got 2 good reasons to short. If you then add to this the fact that USDX had good reasons to go upwards (in order to correct the left anomalies...
Tokyo weak action upside fully retraced.
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Quoting Lock
USDX update: and here we are at last! {image}
Now consider that a so long expectation for this correction should not let you forget that at the opposite side of current action we left other anomalies at least as important as those already taken out here.

So, I imagine that GB will spend some time here to fill this empty space. But after that it will be side out new game. This does not mean it has to go down now, but it means that the main reason to come up here, at least for now, has expired.
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Watch out as we are testing the inside GB week low at 3468!
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-26_10-11-52_GB INSIDE WEEK.png Size: 39 KB
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Quoting Lock
3503 (GB 2009 low) and yes GB close 3453 main levels for current session.
Now, GB is testing the last week low (3468) that as written many times was an inside week, meaning balance. So balance rules apply here. Also we are testing yesterday GB session low (34742) and today Tokyo low (34674). But for now yesterday GB session close level 3453 is far below current price position. What does it mean? It means that for now yesterday close price is not been accepted and this could mean change.

So if we will not have acceptation below all these levels, specially 3468 we have an asymmetric opportunity in the opposite direction becasue, as balance rules teach us, if price fails below a balance the next natural direction is the opposite side of that balance. In this case 36065 the top of last GB week range.

If instead we will see acceleration below these values than we could experience a breakout downside. At least a mid term one, considering the failure above GB 2009 low at 3503
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E inside D. Balance rules apply. D and E periods' highs both weak 1 single pip below half back 3489

B, E and F lows all at yes low 34742.
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Hi Lock,

What happen when we see B , E and F lows al at yes low 34742 .

Is there any meaning to this ?
Quoting Lock
E inside D. Balance rules apply. D and E periods' highs both weak 1 single pip below half back 3489 B, E and F lows all at yes low 34742.

Attempted break downside. testing again last GB week low
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Remember that for a serious breakdown we need acceptation but also acceleration below 3468.
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Poor low
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If the break will succeed, next visible target lower composite poc 3397.
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Quoting Lock
{quote} Now, GB is testing the last week low (3468) that as written many times was an inside week, meaning balance. So balance rules apply here. Also we are testing yesterday GB session low (34742) and today Tokyo low (34674). But for now yesterday GB session close level 3453 is far below current price position. What does it mean? It means that for now yesterday close price is not been accepted and this could mean change. So if we will not have acceptation below all these levels, specially 3468 we have an asymmetric...
We need acceptation below yes GB close 3453 to have a confirmation of this break.
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3450 weak low as it is a round number.
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Quoting Lock
3450 weak low as it is a round number.
Taken out.
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Quoting Lock
Remember that for a serious breakdown we need acceptation but also acceleration below 3468.
For now everyone saw acceleration below 3468. Let's evaluate acceptation below it and below yes GB close level 3453.
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USDX going to test Sept high 92.93
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Quoting uoyssimi
Hi Lock, What happen when we see B , E and F lows al at yes low 34742 . Is there any meaning to this ?

When you see very exact levels tagged multiple times it generally means that those who are currently involved in that particular market are weak hands because stronger hands do not use exact levels to trade. Now in our case we got weak highs (at half back) and weak lows (B, e and F lows) so we were into a balance. We had similar odds to go down or to go up as new participants could enter the market at any moment in time going against those poor traders involved so far.

When it eventually broke downside I signaled to you in this thread because an asymmetric opportunity was developing. In fact, when those who were buying at the same level found themselves stopped out they had to cover their position adding steam to the break. And this is the reason why you saw acceleration below that level and the following one (3468). Because those who were buying from there have been forced to revert or at least close their long positions.
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Quoting Lock
{quote} When you see very exact levels tagged multiple times it generally means that those who are currently involved in that particular market are weak hands because stronger hands do not use exact levels to trade. Now in our case we got weak highs (at half back) and weak lows (B, e and F lows) so we were into a balance. We had similar odds to go down or to go up as new participants could enter the market at any moment in time going against those poor traders involved so far. When it eventually broke downside I signaled to you in this thread because...
Thanks a lot for your explanation.

i had learn a lot and there is still so much to learn from you

Thanks Lock : )
Quoting Lock
{quote} For now everyone saw acceleration below 3468. Let's evaluate acceptation below it and below yes GB close level 3453.
1 m30 period closed below yes GB close level 3453. We need at least 2 of them for acceptation. If you sold after the break from minor balance (meaning below 34742) monitor for continuation downside, considering what we said before multiple times: we need acceptation below last GB week low and below yesterday GB close.
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Quoting Lock
{quote} 1 m30 period closed below yes GB close level 3453. We need at least 2 of them for acceptation. If you sold after the break from minor balance (meaning below 34742) monitor for continuation downside, considering what we said before multiple times: we need acceptation below last GB week low and below yesterday GB close.

We got acceptation from GB participants below yesterday GB close level 3453 and below last inside week low 3468. Now, consider that in less than 30 minutes we will have new participants involved in this market (PreUS session opens at 14:00+1GMT) Then we will have other participants entering after 15:30+1GMT (pit session) So we will have to see the reaction of these new participants to current price location.

For these reasons I suggest to carefully monitor for acceptation or rejection below yesterday Pit session low at 34308 after 14:00+1GMT and specially after 15:30+1GMT. Yesterday Pit session went down with a very poor structure left upside, so the importance of yesterday pit low at 34308 comes from the fact that we could have a gap downside today. A gap is a form of excess and could provide resistance going higher: in other words, in case of new gap downside all the weaknesses left upside could be skipped, at least temporary. At the same time, in case of absence of a new gap or if the new possible gap will be filled quickly (also obtaining acceptation back inside yes pit range) all those anomalies could be easily corrected. So watch out.
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A further note: from 34055 (14.09 pit session high) to 34308 (yesterday pit session low) we got an old pit gap upside. So if pit session will open below this zone it will become a double pass pit gap area. Meaning a price zone in which for two consecutive times pit session didn't pass over. This situation could complicate the new pit participants' reaction, perhaps forcing them to try to fill it at least partially.

If not, meaning if new participants will not try to fill this possible double pass gap zone then we could have an island reversal. What is it? It is a part of a market remained detached by the rest of the market action. In fact in this case all the market action above the double pass gap will not have any connection with the part of the market below it.

It is called "reversal" because it could underline a switch in thinking of market participants. From a "bullish" attitude, in this case, to a "bearish" one.
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