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Lock's Cable Corner

  • #5,161
  • Oct 13, 2017 7:43am Oct 13, 2017 7:43am
33237 GB high tagged: now it is weak but we got a very elongated period.
Ubi maior minor cessat
  • #5,162
  • Oct 13, 2017 7:54am Oct 13, 2017 7:54am
If you went long, as written previously, you definitely want to stay above yesterday pit high 32915 for any serious continuation upside.
Ubi maior minor cessat
  • #5,163
  • Oct 13, 2017 8:20am Oct 13, 2017 8:20am
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[/highlight]...
Here we are at our second main ref upside. Note that we are inside the double pass pit gap (but we are not filling it as the only one that can do it is a pit session.)
Ubi maior minor cessat
  • #5,164
  • Oct 13, 2017 8:32am Oct 13, 2017 8:32am
So eventually pit session open well inside the double pass pit gap. With a new gap upside also. So the lower portion of the double pass is currently became a triple one (down to 32962). Overnight inventories 100% long from yesterday pit session unch level 32765.
Ubi maior minor cessat
  • #5,165
  • Oct 13, 2017 8:35am Oct 13, 2017 8:35am
our first main level 33144 testing from above.
Ubi maior minor cessat
  • #5,166
  • Oct 13, 2017 9:27am Oct 13, 2017 9:27am
Quoting Lock
So eventually pit session open well inside the double pass pit gap. With a new gap upside also. So the lower portion of the double pass is currently became a triple one (down to 32962). Overnight inventories 100% long from yesterday pit session unch level 32765.
Triple pass pit gap filled down to 32962.
Ubi maior minor cessat
  • #5,167
  • Oct 13, 2017 9:33am Oct 13, 2017 9:33am
New gap upside also filled: now for any continuation of this liquidation we have to get acceptation back inside yesterday pit session range, maning below yesterday pit high 32905 (before I WROTE 32915 AND IT WAS A WRONG DATA)

If not all the way back upside to correct the upper portion of the double pass pit gap up to 33435.
Ubi maior minor cessat
  • #5,168
  • Oct 13, 2017 9:37am Oct 13, 2017 9:37am
Quoting Lock
{quote} PreUS testing now the firs major ref upside. Very elongated B period.
Note that the "news" preUS m30 period B has been retraced more than 50%
Ubi maior minor cessat
  • #5,169
  • Oct 13, 2017 9:55am Oct 13, 2017 9:55am
Quoting Lock
our first main level 33144 testing from above.
Again at 33144: we want to stay above it for any serious continuation upside. But now we have more information. We know that we have not acceptation below yesterday pit session high and we know that the triple pass gap has already been filled downside. Anyway let's see.
Ubi maior minor cessat
  • #5,170
  • Oct 13, 2017 10:04am Oct 13, 2017 10:04am
Retest yes high? Watch out if it will succeed.!
Ubi maior minor cessat
  • #5,171
  • Oct 13, 2017 10:05am Oct 13, 2017 10:05am
If it will succeed we could have a huge liquidation. Watch out.
Ubi maior minor cessat
  • #5,172
  • Oct 13, 2017 10:24am Oct 13, 2017 10:24am
Continuously rejected at yes pit high. Current period is an inside one. the next period will be the last one for London.
Ubi maior minor cessat
  • #5,173
  • Oct 13, 2017 10:30am Oct 13, 2017 10:30am
Balance rules apply.
Ubi maior minor cessat
  • #5,174
  • Oct 13, 2017 10:53am Oct 13, 2017 10:53am
Quoting Lock
Balance rules apply.
E inside D inside C. Multiple rejections at yes pit high. No acceptation back inside yes pit range.
Ubi maior minor cessat
  • #5,175
  • Oct 13, 2017 11:00am Oct 13, 2017 11:00am
Ok, let's see now.
Ubi maior minor cessat
  • #5,176
  • Oct 13, 2017 11:10am Oct 13, 2017 11:10am
Quoting Lock
New gap upside also filled: now for any continuation of this liquidation we have to get acceptation back inside yesterday pit session range, maning below yesterday pit high 32905 (before I WROTE 32915 AND IT WAS A WRONG DATA) If not all the way back upside to correct the upper portion of the double pass pit gap up to 33435.
So we did not obtain acceptation below 32905. We are in balance. And if it will break upside the direction is 33435. But it is also Friday evening. So I do not know if it is possible.
Ubi maior minor cessat
  • #5,177
  • Oct 13, 2017 12:35pm Oct 13, 2017 12:35pm
Well, not so much to say. It's Friday evening. It stopped again at 33144 and liquidated. Now we got a poor low. In any case I'm off for today. Have a nice continuation. Best, L.
Ubi maior minor cessat
  • #5,178
  • Oct 16, 2017 1:08am Oct 16, 2017 1:08am
2017/10/16 MONDAY 08:08+1GMT
WEEKLY REPORT

The most notable info we got Friday is that last week range remained inside the previous week range: so we had an inside week, meaning that we are in balance. The second most important info is that also considering only GB session activity we got an inside week: last GB week range (31025-33237) is in fact inside the previous GB week range (30512-33652).

This mean that any attempt above 33237 or below 31025 will have to be considered as an attempted break out from balance and consequently treated adopting balance rules. Then any possible attempted break above or below will have to be evaluated in its success considering the possible reaction at the extremes of the previous week, meaning above 33652 or below 30512.

Having said this it must be underlined that price is acting inside two major levels: 32674 the last minor bracket top and 33393 the last short term action downside half back. So these levels could work as support and resistance. Going forward downside then we will have a mid term level 31637 (the half back of the upper monthly bracket) while going upwards, far above, we will have the top of the upper monthly bracket at 32326.

Finally the closest major composite pocs are at 3206 downside and 3397 upside.
Ubi maior minor cessat
  • #5,179
  • Oct 16, 2017 1:28pm Oct 16, 2017 1:28pm
LOCK Missing your thoughts about current drop
  • #5,180
  • Oct 16, 2017 1:29pm Oct 16, 2017 1:29pm
Quoting haathmilao
LOCK Missing your thoughts about current drop
Yes, what gives? Very confusing to me as well. GBP just fell off the cliff like...
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