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Lock's Cable Corner

  • #5,141
  • Oct 13, 2017 2:06am Oct 13, 2017 2:06am
Note that we are in between H4 MA 200 (below) and H4 MA100 (above). I do not use MA to trade but I'm aware of them.
Ubi maior minor cessat
  • #5,142
  • Oct 13, 2017 2:36am Oct 13, 2017 2:36am
For now the gap has been preserved. For serious continuation upside we need to test overnight high (Tokyo high) and to get acceptation above it (33115) and above major level 33144. If not, watch out.
Ubi maior minor cessat
  • #5,143
  • Oct 13, 2017 2:38am Oct 13, 2017 2:38am
Quoting Lock
For now the gap has been preserved. For serious continuation upside we need to test overnight high (Tokyo high) and to get acceptation above it (33115) and above major level 33144. If not, watch out.
First under test and second one tagged.
Ubi maior minor cessat
  • #5,144
  • Oct 13, 2017 2:41am Oct 13, 2017 2:41am
33393 is the half back of the last mid term move downside. (the mid level of it) If reached, monitor for acceptation or rejection above it.
Ubi maior minor cessat
  • #5,145
  • Oct 13, 2017 2:46am Oct 13, 2017 2:46am
Quoting Lock
Note that we are in between H4 MA 200 (below) and H4 MA100 (above). I do not use MA to trade but I'm aware of them.
Testing it.
Ubi maior minor cessat
  • #5,146
  • Oct 13, 2017 3:31am Oct 13, 2017 3:31am
C inside B: balance rules apply.
Ubi maior minor cessat
  • #5,147
  • Oct 13, 2017 4:03am Oct 13, 2017 4:03am
Monitor H1 to evaluate the success or failure of this attempted breakout downside from balance. As the new gap upside is still in place.
Ubi maior minor cessat
  • #5,148
  • Oct 13, 2017 4:13am Oct 13, 2017 4:13am
Quoting Lock
Monitor H1 to evaluate the success or failure of this attempted breakout downside from balance. As the new gap upside is still in place.
I'm long on cable, Lock, anticipating the gap upside as you mentioned. Isnt 1.33776 a safer place to sell? Thanks for your insights.
  • #5,149
  • Oct 13, 2017 5:21am Oct 13, 2017 5:21am
Quoting MoneyFocus
{quote} I'm long on cable, Lock, anticipating the gap upside as you mentioned. Isnt 1.33776 a safer place to sell? Thanks for your insights.
These are not the balance rules. If you are in a balance you could have numerous options: attempt in one direction and succeed and you see that for instance in case of acceleration or acceptation above or below balance. Or it could fail, in which case the natural direction is the opposite side of the initial balance from which it attempted to break.

Balance rules imply that you have to go with any break from it, if occurred, and then monitor for continuation and acceptation in the direction of the break. You cannot place a position before an attempted break unless you have very good reasons to do so. In our specific case we did not got acceptation above overnight high (33115) nor above major level 3314. So as a starting point you should not think at a bullish scenario in such conditions. Then you got also conflicting information as you also had a new GB gap upside. But when you saw acceleration below balance you should have closed immediately your longs (if any) and reverse to short. As those longs, if preserved, were actually against occurring break downside.
Ubi maior minor cessat
  • #5,150
  • Oct 13, 2017 5:26am Oct 13, 2017 5:26am
Now the breaking period F filled completely the new gap upside and tested below overnight low (Sydney low 32555) and back inside yesterday Gb range. But for now it failed to get acceptation there. In case of acceptation inside yesterday GB range (below yes GB high 32585) and consequently below overnight low we could aim at composite poc 3206 as written this morning. If not I'm expecting some balance alongside the space of the already filled GB gap.
Ubi maior minor cessat
  • #5,151
  • Oct 13, 2017 5:30am Oct 13, 2017 5:30am
Again: G inside F. Balance rules apply.
Ubi maior minor cessat
  • #5,152
  • Oct 13, 2017 5:39am Oct 13, 2017 5:39am
Quoting Lock
Note that we are in between H4 MA 200 (below) and H4 MA100 (above). I do not use MA to trade but I'm aware of them.

Have a look of what happened today in the H4 chart. Do you see that price tagged MA 100 above and then tested MA200 below: exactly?
Ubi maior minor cessat
  • #5,153
  • Oct 13, 2017 5:42am Oct 13, 2017 5:42am
Quoting Lock
Now the breaking period F filled completely the new gap upside and tested below overnight low (Sydney low 32555) and back inside yesterday Gb range. But for now it failed to get acceptation there. In case of acceptation inside yesterday GB range (below yes GB high 32585) and consequently below overnight low we could aim at composite poc 3206 as written this morning. If not I'm expecting some balance alongside the space of the already filled GB gap.
Quoting Lock
Again: G inside F. Balance rules apply.
And it broke upside. Note that, before this rally, we did not get acceptation nor inside yesterday GB range nor below overnight low.
Ubi maior minor cessat
  • #5,154
  • Oct 13, 2017 6:33am Oct 13, 2017 6:33am
Quoting Lock
... tested below overnight low (Sydney low 32555) and back inside yesterday Gb range. But for now it failed to get acceptation there. In case of acceptation inside yesterday GB range (below yes GB high 32585) and consequently below overnight low we could aim at composite poc 3206 as written this morning. If not I'm expecting some balance alongside the space of the already filled GB gap.
And it is balancing inside the already filled gap space.
Ubi maior minor cessat
  • #5,155
  • Oct 13, 2017 7:02am Oct 13, 2017 7:02am
Quoting Lock
{quote} And it is balancing inside the already filled gap space.

is it good to go short from here?
MRMALIK1
  • #5,156
  • Oct 13, 2017 7:13am Oct 13, 2017 7:13am
PreUS opened inside yesterday range: initial acceptation of yesterday range expected. I mean the range of the upper pit distribution. See your TPO chart.
Ubi maior minor cessat
  • #5,157
  • Oct 13, 2017 7:26am Oct 13, 2017 7:26am
Quoting mrmalik1
{quote} is it good to go short from here?
We are before news inside yesterday range. I suggest to be very cautious. Major reference are the same of this morning. Brexit low 32273 and 31637 below and 33144, 33393 and 33714 upside. Major composite poc 3206 downside and 3397 upside.

Yesterday we left a poor low at 3138 from which the short covering started during pit session. And we also have an other one poor low just below it at 31263. To reach them we have to get acceptation below 32273 and 31637.

Upside we have a double pass pit gap that could attract price at 32962-3349. And to get it we need acceptation above yesterday pit high at 32915.

Overnight inventories are for now 100% long. It means that the entire overnight activity (weak hands) took place above yesterday pit unch at 32765. So they could require a liquidation.
Ubi maior minor cessat
  • #5,158
  • Oct 13, 2017 7:33am Oct 13, 2017 7:33am
Remember that from an US perspective the "preUS session" is still part of overnight activity.
Ubi maior minor cessat
  • #5,159
  • Oct 13, 2017 7:36am Oct 13, 2017 7:36am
Quoting Lock
{quote} We are before news inside yesterday range. I suggest to be very cautious. Major reference are the same of this morning. Brexit low 32273 and 31637 below and 33144, 33393 and 33714 upside. Major composite poc 3206 downside and 3397 upside. Yesterday we left a poor low at 3138 from which the short covering started during pit session. And we also have an other one poor low just below it at 31263. To reach them we have to get acceptation below 32273 and 31637. Upside we have a double pass pit...
PreUS testing now the firs major ref upside. Very elongated B period.
Ubi maior minor cessat
  • #5,160
  • Oct 13, 2017 7:41am Oct 13, 2017 7:41am
Quoting Lock
{quote} Have a look of what happened today in the H4 chart. Do you see that price tagged MA 100 above and then tested MA200 below: exactly?
Also retesting H4 MA 100 above. weak environment.
Ubi maior minor cessat
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