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Lock's Cable Corner

  • #4,881
  • Oct 2, 2017 3:47am Oct 2, 2017 3:47am
Quoting Lock
We got acceptation below Friday and Thursday lows (33525 and 33422), meaning acceptation below balance. Note anyway the very elongated A period. And the low volume. Monitor the situation carefully as overnight, as said, was without China. 33144 was an important level and it could provide some support. In case of continuation downside you know where it could go. And unless we will have rejection and acceptation back inside Friday GB session range, the break is succeeding for now. {image}
Note the exact tag of 33144 from below by period D (the last of Tokyo). Now it's working as resistance. (a weak one as any exact reference tagged)
Ubi maior minor cessat
  • #4,882
  • Oct 2, 2017 3:53am Oct 2, 2017 3:53am
Btw current low at round 3300 is weak too for the same reason.
Ubi maior minor cessat
  • #4,883
  • Oct 2, 2017 4:52am Oct 2, 2017 4:52am
Quoting Lock
{quote} Note the exact tag of 33144 from below by period D (the last of Tokyo). Now it's working as resistance. (a weak one as any exact reference tagged)
Quoting Lock
Btw current low at round 3300 is weak too for the same reason.
It took 33144 out and here we are at the weak low 3300
Ubi maior minor cessat
  • #4,884
  • Oct 2, 2017 5:13am Oct 2, 2017 5:13am
USDX (DXY) looks like is going to test its sept high 93.67
Ubi maior minor cessat
  • #4,885
  • Oct 2, 2017 5:15am Oct 2, 2017 5:15am
Quoting Lock
{quote} {quote} It took 33144 out and here we are at the weak low 3300
taken out.
Ubi maior minor cessat
  • #4,886
  • Oct 2, 2017 6:21am Oct 2, 2017 6:21am
Balancing around new composite poc 3302. The only way to evade it is with a spike. Also considering current poor low.
Ubi maior minor cessat
  • #4,887
  • Oct 2, 2017 6:24am Oct 2, 2017 6:24am
Quoting Lock
Balancing around new composite poc 3302. The only way to evade it is with a spike. Also considering current poor low.
Removed now. Now let's see if the last 2 periods could let price evade the poc 3302
Ubi maior minor cessat
  • #4,888
  • Oct 2, 2017 6:27am Oct 2, 2017 6:27am
In case of spike continuation the next visible level, as written previously, is 32674
Ubi maior minor cessat
  • #4,889
  • Oct 2, 2017 6:29am Oct 2, 2017 6:29am
Quoting Lock
In case of spike continuation the next visible level, as written previously, is 32674
If failed downside all the way back to 33144.
Ubi maior minor cessat
  • #4,890
  • Oct 2, 2017 7:05am Oct 2, 2017 7:05am
GB session and current preUS built, for now, a substantial gap downside for upcoming pit session (from yesterday pit session low 3349). And this happened inside a previous pit gap upside (32614-33435)

If the new pit gap downside will be preserved until pit open (15:30+1GMT) and not retraced quickly after that, we have good odds to continue lower. But this will mean to leave upside a double pass gap zone (up to 33435)
Ubi maior minor cessat
  • #4,891
  • Oct 2, 2017 7:07am Oct 2, 2017 7:07am
Note that a similar gap (in the opposite direction obviously) is forming in DXY.
Ubi maior minor cessat
  • #4,892
  • Oct 2, 2017 7:14am Oct 2, 2017 7:14am
Quoting Lock
In case of spike continuation the next visible level, as written previously, is 32674

32674 is obviously significant also for preUS session. As it is the last minor bracket high. So acceptation or rejection below it could be very significant.
Ubi maior minor cessat
  • #4,893
  • Oct 2, 2017 7:20am Oct 2, 2017 7:20am
Quoting Lock
{quote} 32674 is obviously significant also for preUS session. As it is the last minor bracket high. So acceptation or rejection below it could be very significant.
And here we are: now let's see the reaction here.
Ubi maior minor cessat
  • #4,894
  • Oct 2, 2017 7:27am Oct 2, 2017 7:27am
This is what I wrote almost 5 hours ago.

Quoting Lock
In the case of a succeeding break downside the next visible interesting level is 32674 (previous minor bracket high). Then we have the brexit low 32273 and the next lower composite poc at 3206. The break in order to succeed during upcoming GB session required acceptation below Friday GB low 33525 and Thursday GB low 343422. If not all the way back to composite poc 3397 first and then eventually to the opposite side of the GB balance 34227(Friday GB high)-34243* 26(Thursday...
So because we already reached 32674, in order to continue lower we need acceptation below it. IF so we could aim at 32273 and eventually at 3206 lower composite poc. But the first step is to obtain acceptation below 32674. If not...
Ubi maior minor cessat
  • #4,895
  • Oct 2, 2017 8:16am Oct 2, 2017 8:16am
Great thread, thanks for sharing your knowledge. subscribed
Quoting Lock
This is what I wrote almost 5 hours ago. {quote} So because we already reached 32674, in order to continue lower we need acceptation below it. IF so we could aim at 32273 and eventually at 3206 lower composite poc. But the first step is to obtain acceptation below 32674. If not...
  • #4,896
  • Oct 2, 2017 9:19am Oct 2, 2017 9:19am
Quoting Lock
This is what I wrote almost 5 hours ago. {quote} So because we already reached 32674, in order to continue lower we need acceptation below it. IF so we could aim at 32273 and eventually at 3206 lower composite poc. But the first step is to obtain acceptation below 32674. If not...
For now both preUS and pit sessions attempts failed below 32674. Upside, up to 33435 we got now a double pass pit gap. And a full gap up to 3349 (yesterday pit low). So we could have different scenarios here:

  1. we could balance preserving the new gap downside.
  2. We could preserve the new gap and eventually find acceptance below 32674 end consequently continue lower to 32273 and 3206 or
  3. We could retrace completely the entire new gap downside, reversing the entire move downside to a substantial short covering based upon the rejection at 32674.

Ubi maior minor cessat
  • #4,897
  • Oct 2, 2017 9:25am Oct 2, 2017 9:25am
Quoting Pixie666
Great thread, thanks for sharing your knowledge. subscribed {quote}
Thank you very much indeed, you're welcome. Best, L.
Ubi maior minor cessat
  • #4,898
  • Oct 2, 2017 9:51am Oct 2, 2017 9:51am
The new gap downside is still in place. Even if we do not have acceptance below 32674 the short term trend remains downside. So for now I see more odds for balance or continuation downside*.

*continuation only in the case of acceptance below 32674
Ubi maior minor cessat
  • #4,899
  • Oct 2, 2017 9:55am Oct 2, 2017 9:55am
Quoting Lock
The new gap downside is still in place. Even if we do not have acceptance below 32674 the short term trend remains downside. So for now I see more odds for balance or continuation downside*. *continuation only in the case of acceptance below 32674

I'm speaking about current pit session. After it we will see and evaluate the developed outcome.
Ubi maior minor cessat
  • #4,900
  • Oct 2, 2017 10:05am Oct 2, 2017 10:05am
Retesting 32674
Ubi maior minor cessat
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