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Lock's Cable Corner

  • #4,981
  • Oct 6, 2017 5:27am Oct 6, 2017 5:27am
Quoting Lock
I would like to emphasize that we are in a short term trend downside and we got a new huge gap downside substantially untouched. And we are in balance. So watch out for a possible break.
And it eventually attempted a break downside. As before we are trying to establish a possible acceptation below overnight low and major level 3064. If it will be the case then we could aim at lower levels. The first of which, meaning the most visible one, is 30183, the top of a previous GB gap upside.

If instead we will not get an acceptation below overnight, remember that we left upside a poor high at 30815 and eventually, numerous anomalies above it. In this case, remember also that a possible action upside will be against current short term trend downside and against the new huge gap downside.
Ubi maior minor cessat
  • #4,982
  • Oct 6, 2017 8:04am Oct 6, 2017 8:04am
PreUS is currently building a new substantial gap downside for upcoming Pit session. It retested right now 3064. Current low is not particularly good as it is a tag of a pit poor low 30343. If the new gap will be confirmed and not retraced quickly, odds remain in favor for a continuation downside as the short term trend is in that direction.
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  • #4,983
  • Oct 6, 2017 8:06am Oct 6, 2017 8:06am
If instead we will not have a new gap downside or if this new possible gap downside will be retraced quickly we could experience a substancial short covering as most of the last action downside has been extremely weak. 3064 will remain our main level for upcoming pit session: so monitor for acceptation above or below it.
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  • #4,984
  • Oct 6, 2017 8:10am Oct 6, 2017 8:10am
Quoting Lock
{quote} And it eventually attempted a break downside. As before we are trying to establish a possible acceptation below overnight low and major level 3064. If it will be the case then we could aim at lower levels. The first of which, meaning the most visible one, is 30183, the top of a previous GB gap upside.
Quoting Lock
If instead we will not get an acceptation below overnight, remember that we left upside a poor high at 30815 and eventually, numerous anomalies above it. In this case, remember also that a possible action upside will be against current short term trend downside and against the new huge gap downside.
Note that in the last GB session action we saw no acceptation below 3064 and in fact it went upside to correct the poor high at 30815 but then, as we were in a short term trend downside, it retraced back downwards.
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  • #4,985
  • Oct 6, 2017 8:18am Oct 6, 2017 8:18am
Quoting Lock
{quote} {quote} Note that in the last GB session action we saw no acceptation below 3064 and in fact it went upside to correct the poor high at 30815 but then, as we were in a short term trend downside, it retraced back downwards.
what are your analysis about cable. what it do next now.....
MRMALIK1
  • #4,986
  • Oct 6, 2017 8:35am Oct 6, 2017 8:35am
Quoting Lock
PreUS is currently building a new substantial gap downside for upcoming Pit session. It retested right now 3064. Current low is not particularly good as it is a tag of a pit poor low 30343. If the new gap will be confirmed and not retraced quickly, odds remain in favor for a continuation downside as the short term trend is in that direction.
And here we are at the poor low 30343
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  • #4,987
  • Oct 6, 2017 8:38am Oct 6, 2017 8:38am
Quoting Lock
{quote} And here we are at the poor low 30343
Taken out: now for any serious continuation downside we need acceptation below overnight low, meaning preUS low (1 pip above 30343)

If not balance is possible while a complete retracement of the new gap downside is improbable.
Ubi maior minor cessat
  • #4,988
  • Oct 6, 2017 8:39am Oct 6, 2017 8:39am
In case of continuation downside (acceptation below overnight low needed) the next visible level is an other pit poor low at 2982.
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  • #4,989
  • Oct 6, 2017 8:50am Oct 6, 2017 8:50am
Quoting Lock
In case of continuation downside (acceptation below overnight low needed) the next visible level is an other pit poor low at 2982.
And then, the major composite poc 2963. But, remember, without a clear acceptation below overnight low, there's no way to continue lower even if we are in a short term downside. So monitor it.
Ubi maior minor cessat
  • #4,990
  • Oct 6, 2017 9:47am Oct 6, 2017 9:47am
Quoting Lock
{quote} Taken out: now for any serious continuation downside we need acceptation below overnight low, meaning preUS low (1 pip above 30343) If not balance is possible while a complete retracement of the new gap downside is improbable.

Pit session tested below overnight low and found no acceptation below it. As a consequence of this initial failure it started a short covering against trend and against the new gap downside. If you bought after this failure you could be correct but you have to be aware of the situation in the case the short covering will end somewhere inside the new gap.

If instead you will see the entire new gap filled, this could be a signal of something more upside and then even the entire yesterday pit session range, up to 31465 could be at risk.

So, considering the situation I suggest to monitor carefully for continuation and to be prepared to any possible sign of tiredness and lack of conviction continuing higher. (specially if you will see no acceptation above our major level 3064)
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  • #4,991
  • Oct 6, 2017 10:40am Oct 6, 2017 10:40am
Quoting Lock
{quote} Pit session tested below overnight low and found no acceptation below it. As a consequence of this initial failure it started a short covering against trend and against the new gap downside. If you bought after this failure you could be correct but you have to be aware of the situation in the case the short covering will end somewhere inside the new gap. If instead you will see the entire new gap filled, this could be a signal of something more upside and then even the entire yesterday pit session range, up to 31465 could be at risk.
Quoting Lock
So, considering the situation I suggest to monitor carefully for continuation and to be prepared to any possible sign of tiredness and lack of conviction continuing higher. (specially if you will see no acceptation above our major level 3064)
For now it went up just 1 pip below 3064 and retraced. So we do not have acceptation below overnight low 3035 but we do not have acceptation above 3064, at least for now. Consequently we are watching balance. Let's see if we could have some answer.
Ubi maior minor cessat
  • #4,992
  • Oct 6, 2017 10:55am Oct 6, 2017 10:55am
gone
Ubi maior minor cessat
  • #4,993
  • Oct 6, 2017 11:00am Oct 6, 2017 11:00am
Note the struggle at 3064. Be prepared.
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  • #4,994
  • Oct 6, 2017 11:25am Oct 6, 2017 11:25am
Quoting Lock
{quote} .... So, considering the situation I suggest to monitor carefully for continuation and to be prepared to any possible sign of tiredness and lack of conviction continuing higher. (specially if you will see no acceptation above our major level 3064)
Quoting Lock
Note the struggle at 3064. Be prepared.
So it has gone too long against short term trend and against new pit gap, eventually failed above 3064 and then started liquidating. Note the re test of the current m30 period from below exactly at 3064.

Now in my opinion could continue the liquidation or close in balance. I'm off. Best, L.
Ubi maior minor cessat
  • #4,995
  • Oct 8, 2017 12:03pm Oct 8, 2017 12:03pm
Quoting Lock
{quote} {quote} So it has gone too long against short term trend and against new pit gap, eventually failed above 3064 and then started liquidating. Note the re test of the current m30 period from below exactly at 3064. Now in my opinion could continue the liquidation or close in balance. I'm off. Best, L.
And it closed in balance.
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  • #4,996
  • Oct 9, 2017 2:00am Oct 9, 2017 2:00am
Friday GB spike upside base 3082. GB is going to open above it. Spike rules apply.
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  • #4,997
  • Oct 9, 2017 2:17am Oct 9, 2017 2:17am
Note that we are inside a triple pass GB gap (31025-31244). If filled and no continuation upside, watch out. Note also that the top of this triple pass GB gap coincides with today overnight session high (without Tokyo). So for any serious continuation upside we need to see acceptation above overnight high and above the top of the triple pass GB gap. If not watch out for a correction downside, eventually to overnight weak low at 30765 (it is weak as it is a perfect tag of Sydney low and it is also current week low).

In case of continuation instead, the next visible level is 31637, our major level upside as it is the upper monthly bracket half back. Note also that this level coincides with the top of the last GB gap downside, meaning the lower extreme of Thursday GB session.
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  • #4,998
  • Oct 9, 2017 2:24am Oct 9, 2017 2:24am
Quoting Lock
Note that we are inside a triple pass GB gap (31025-31244). If filled and no continuation upside, watch out. Note also that the top of this triple pass GB gap coincides with today overnight session high (without Tokyo). So for any serious continuation upside we need to see acceptation above overnight high and above the top of the triple pass GB gap. If not watch out for a correction downside, eventually to overnight weak low at 30765 (it...
Tagged.
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  • #4,999
  • Oct 9, 2017 3:00am Oct 9, 2017 3:00am
B period inside A: balance rules apply.
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  • #5,000
  • Oct 9, 2017 3:05am Oct 9, 2017 3:05am
Quoting Lock
{quote} Tagged.
Could it be the low for now for GBP.????
GBP has retraced 61.8% fib from the last leg up from 1.2774 to 1.3660 and took a bounce from 61.8 fib. will it open a door to 1.3800 for GBP????
MRMALIK1
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