Lock's Cable Corner | Page 251 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #5,001
  • Oct 9, 2017 3:20am Oct 9, 2017 3:20am
Quoting mrmalik1
{quote} 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????

It tagged the top of the triple GB gap, so it filled it. At the same time B period re tagged it, transforming it in a poor high. Then it attempted a break below inside period B and for now it looks like it failed. When a price attempted break failed in one direction the next natural direction is the opposite side of the balance. That, in our case is also poor. If instead the attempted break will succed we could continue lower where we saw a weak low atr Sydney low. See previous post. In this case we will leave upside a GB poor high: and so in this case you have to carry forward this info.
Ubi maior minor cessat
  • #5,002
  • Oct 9, 2017 3:23am Oct 9, 2017 3:23am
A nuance: the triple GB gap is filled up to is higher extreme. But it is not filled yet down to its lower extreme that almost coincides with Friday GB high
Ubi maior minor cessat
  • #5,003
  • Oct 9, 2017 3:52am Oct 9, 2017 3:52am
Note that all this action, from overnight low, has been conducted during Tokyo holiday. And note that today we will have US bank holiday too. Third element: the entire last week action downside occurred during China holiday, while today is the first one with China participation during overnight (in the absence of Tokyo).
Ubi maior minor cessat
  • #5,004
  • Oct 9, 2017 4:03am Oct 9, 2017 4:03am
Quoting Lock
A nuance: the triple GB gap is filled up to is higher extreme. But it is not filled yet down to its lower extreme that almost coincides with Friday GB high
As you see nuances could be very important. Friday GB high tagged at the pip and now the entire triple pass Gb gap is filled also downside.
Ubi maior minor cessat
  • #5,005
  • Oct 9, 2017 4:25am Oct 9, 2017 4:25am
Quoting Lock
{quote}... In this case we will leave upside a GB poor high: and so in this case you have to carry forward this info.
And here we are at the poor high. Again, note that we left downside a poor low. Carry forward this info.
Ubi maior minor cessat
  • #5,006
  • Oct 9, 2017 4:27am Oct 9, 2017 4:27am
Now in case of continuation upside our direction is 31637 for a test. During its path we could have attraction at 3138 composite poc. If instead we will fail upside, natural direction is the poor low left downside.
Ubi maior minor cessat
  • #5,007
  • Oct 9, 2017 4:29am Oct 9, 2017 4:29am
where do you get your data from? POC etc?
  • #5,008
  • Oct 9, 2017 4:35am Oct 9, 2017 4:35am
Quoting Lock
Now in case of continuation upside our direction is 31637 for a test. During its path we could have attraction at 3138 composite poc. If instead we will fail upside, natural direction is the poor low left downside.
tagged.
Ubi maior minor cessat
  • #5,009
  • Oct 9, 2017 4:46am Oct 9, 2017 4:46am
Quoting Don96
where do you get your data from? POC etc?
Hi Don, I sign main levels with horizontal lines over any chart I use. For the composite poc I used a very normal MP composite profile (main levels come from bigger time frames normal charts as monthly, weekly daily). All other daily and session references come from the TPO MP tool everyone is using in this thread. Best, L.

EXAMPLE of a weekly chart used to get maqin levels.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-09_11-52-17_levels example.png Size: 47 KB
Ubi maior minor cessat
  • #5,010
  • Oct 9, 2017 4:53am Oct 9, 2017 4:53am
Quoting Lock
{quote} Hi Don, I sign main levels with horizontal lines over any chart I use. For the composite poc I used a very normal MP composite profile (main levels come from bigger time frames normal charts as monthly, weekly daily). All other daily and session references come from the TPO MP tool everyone is using in this thread. Best, L.
futures or forex? and what broker?
  • #5,011
  • Oct 9, 2017 5:04am Oct 9, 2017 5:04am
Quoting Don96
{quote} futures or forex? and what broker?
Forex. About broker I generally use Alpari. But for disputed prices (see the all time low) I generally use and match different sources.
Ubi maior minor cessat
  • #5,012
  • Oct 9, 2017 6:04am Oct 9, 2017 6:04am
Quoting Lock
Now in case of continuation upside our direction is 31637 for a test. During its path we could have attraction at 3138 composite poc. If instead we will fail upside, natural direction is the poor low left downside.
Here we are at upper monthly bracket half back 31637.
Ubi maior minor cessat
  • #5,013
  • Oct 9, 2017 6:07am Oct 9, 2017 6:07am
Quoting Lock
{quote} Here we are at upper monthly bracket half back 31637.
Now as it is a mid term level and the market is currently ruled by weak hands we could find more serious sellers above it and retrace back to 3138 composite poc. At the opposite if we will find more serious buyers above it we could continue higher to upper composite poc 3206. I suggest to be very prudent here in any case.
Ubi maior minor cessat
  • #5,014
  • Oct 9, 2017 7:14am Oct 9, 2017 7:14am
We are inside preUS session and we are currently far above Friday pit session high 3074. So price action is building a possible new pit gap upside for upcoming pit session (15:30+1GMT open). Note that we are also above a multi pass pit gap zone from 31465 (Thursday pit high) to 31595. In any case this zone could be very interesting for pit session participants. Specially considering the US bank holiday that could lead the market in a rotational environment.

Our main level in this zone will remain 31637. And the 2 composite poc above 3206 and below 3138 could at any moment in time attract price if leaded by weak hands.
Ubi maior minor cessat
  • #5,015
  • Oct 9, 2017 7:22am Oct 9, 2017 7:22am
Quoting Lock
{quote} Here we are at upper monthly bracket half back 31637.
Tagged from above by preSU session
Ubi maior minor cessat
  • #5,016
  • Oct 9, 2017 8:44am Oct 9, 2017 8:44am
Quoting Lock
We are inside preUS session and we are currently far above Friday pit session high 3074. So price action is building a possible new pit gap upside for upcoming pit session (15:30+1GMT open). Note that we are also above a multi pass pit gap zone from 31465 (Thursday pit high) to 31595. In any case this zone could be very interesting for pit session participants. Specially considering the US bank holiday that could lead the market in a rotational environment. Our main level...
Note Pit US open exactly at 31595 and then to 31465. At the pip
Ubi maior minor cessat
  • #5,017
  • Oct 9, 2017 9:13am Oct 9, 2017 9:13am
Quoting Lock
{quote} Note Pit US open exactly at 31595 and then to 31465. At the pip
Now 3138 composite poc is not so far but if we will not see continuation and acceptation below 31465 we could see a correction upside in order to re test 31637. Let's see.
Ubi maior minor cessat
  • #5,018
  • Oct 9, 2017 9:16am Oct 9, 2017 9:16am
If instead we will have acceptation below 31465 we could aim at the weaknesses left downside down to overnight weak low at 30742.
Ubi maior minor cessat
  • #5,019
  • Oct 9, 2017 9:17am Oct 9, 2017 9:17am
Quoting Lock
... Our main level in this zone will remain 31637. And the 2 composite poc above 3206 and below 3138 could at any moment in time attract price if leaded by weak hands.
Here we are at lower composite poc 3138. Let's see the reaction if any.
Ubi maior minor cessat
  • #5,020
  • Oct 9, 2017 9:50am Oct 9, 2017 9:50am
Any thoughts on why the 3182 failure?
TULKAS
17 traders viewing now