Lock's Cable Corner | Page 261 | 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

  • #5,201
  • Oct 24, 2017 4:12am Oct 24, 2017 4:12am
Now again, 3187 is overnight low. If no acceptation below it, all the way back upside. If acceptation below it we could see a continuation of the liquidation. In any case remember the power of attraction of composite poc 3190 in a so weak environment.
Ubi maior minor cessat
  • #5,202
  • Oct 24, 2017 4:15am Oct 24, 2017 4:15am
31637 major mid level.
Ubi maior minor cessat
  • #5,203
  • Oct 24, 2017 4:20am Oct 24, 2017 4:20am
Quoting MoneyFocus
{quote} Not sure if it brings any comfort to you, but I'm short at .131957, which is worse than you, and I'm not worried. DXY could see a push toward 94, which can make me green. Hopefully we both get our green pips. Cheers.
Out.
  • #5,204
  • Oct 24, 2017 4:21am Oct 24, 2017 4:21am
My chart reached 1.3165, major resistance shows as 1.3166 on my chart. Let's see if it breaks.

1 trade closed, 2 more remaining.
  • #5,205
  • Oct 24, 2017 4:37am Oct 24, 2017 4:37am
Quoting Lock
31637 major mid level.
less than 2 pips above it and retraced.
Ubi maior minor cessat
  • #5,206
  • Oct 24, 2017 4:45am Oct 24, 2017 4:45am
This is a very weak and dangerous market. The important info here is that we are in a short term balance (see previous posts for analysis) So for any important action we got to wait for a test of one of the extremes of this balance. Trading in such environments will instead need to adapt to daily trading money behavior that generally consists of responsive actions at almost exact visible daily levels.
Ubi maior minor cessat
  • #5,207
  • Oct 24, 2017 5:02am Oct 24, 2017 5:02am
Inside period. Balance rules apply.
Ubi maior minor cessat
  • #5,208
  • Oct 24, 2017 5:36am Oct 24, 2017 5:36am
Quoting Lock
Inside period. Balance rules apply.
G inside F inside E m30 period: still in balance. The narrower the balance range the most likely it has to produce a directional movement.
Ubi maior minor cessat
  • #5,209
  • Oct 24, 2017 5:58am Oct 24, 2017 5:58am
I call it "outburst"
  • #5,210
  • Oct 24, 2017 6:19am Oct 24, 2017 6:19am
Quoting Lock
Now again, 3187 is overnight low. If no acceptation below it, all the way back upside. If acceptation below it we could see a continuation of the liquidation. In any case remember the power of attraction of composite poc 3190 in a so weak environment.
And here we are here again at composite poc 3190.
Ubi maior minor cessat
  • #5,211
  • Oct 24, 2017 7:05am Oct 24, 2017 7:05am
We have 1H candle closed below the Resistance 1.3166, it may drop more if it does not climb above that level.
  • #5,212
  • Oct 24, 2017 7:06am Oct 24, 2017 7:06am
Now preUS has to stay below 31637 of it want to continue current liquidation and if it want to create a new downside gap for upcoming pit session (yesterday low 31755)

Note that GB session ended downside tagging yesterday GB low and current preUS is tagging the same low: so it is extremely weak.
Ubi maior minor cessat
  • #5,213
  • Oct 24, 2017 7:08am Oct 24, 2017 7:08am
Quoting ravenbg
We have 1H candle closed below the Resistance 1.3166, it may drop more if it does not climb above that level.
Resistance or support here is 31637: it is the half back of the entire upper monthly bracket.
Ubi maior minor cessat
  • #5,214
  • Oct 24, 2017 7:11am Oct 24, 2017 7:11am
Note a nuance that could stress the weakness of current market: today Gb session unchanged level is almost identical of the one made yesterday. And they are both almost coincident with 31637.
Ubi maior minor cessat
  • #5,215
  • Oct 24, 2017 7:18am Oct 24, 2017 7:18am
Quoting Lock
{quote} Resistance or support here is 31637: it is the half back of the entire upper monthly bracket.
In any case I suggest to reason in terms of acceptation or rejection above or below a certain level instead of considering it a sort of barrier to spot exactly. Any exact reference tagged exactly is almost surely a weak level from the exact moment it has been tagged. The more it will be tagged the more its weakness.

Acceptation is instead used in order to evaluate the activity in a particular direction. If going above or below a particular level you will see a cut of the occurring activity this in fact could be read as a lack of interest in that particular direction. remember that technically acceptation or rejection is measured by the number of m30 periods closed above or below a particular level. At least 2 period are needed to evaluate acceptation,
Ubi maior minor cessat
  • #5,216
  • Oct 24, 2017 7:22am Oct 24, 2017 7:22am
Note that preUS opened inside yesterday US range tested below yes preUS range low (31605), tagged GB low, found nothing and then went upside: this is a clear day timeframe buy position. Clearly a weak one. So be aware of it. It could a good spot if you know what is happening as a bad one if you have no idea of what is really occurring, because if bigger timeframe will step in clearly those positions will be wiped out..
Ubi maior minor cessat
  • #5,217
  • Oct 24, 2017 7:37am Oct 24, 2017 7:37am
That is true, so that's why I sit and wait.
I have my agenda just waiting for the sign .
  • #5,218
  • Oct 24, 2017 7:50am Oct 24, 2017 7:50am
Quoting Lock
Now preUS has to stay below 31637 of it want to continue current liquidation and if it want to create a new downside gap for upcoming pit session (yesterday low 31755) Note that GB session ended downside tagging yesterday GB low and current preUS is tagging the same low: so it is extremely weak.
So it went upside to test yesterday pit low and has been rejected once above it (31755). Let's see if the gap is still possible or not.
Ubi maior minor cessat
  • #5,219
  • Oct 24, 2017 8:33am Oct 24, 2017 8:33am
Quoting Lock
{quote} So it went upside to test yesterday pit low and has been rejected once above it (31755). Let's see if the gap is still possible or not.
Yes it is: possible space down to 3074* zone if new gap not retraced quickly

*3074 being the last of the visible weaknesses left downside and the bottom of an old double pass pit gap.

Possible target sequence (if new gap not filled):

  1. 3146 (already taken out)
  2. 3138
  3. 31263
  4. 31163
  5. 31025
  6. and then 3074


Instead if gap filled and acceptation obtained above yes pit low 31755 then all the way back to the weak triple Tokyo top at 32273.

Ubi maior minor cessat
  • #5,220
  • Oct 24, 2017 10:36am Oct 24, 2017 10:36am
Lock,

I am quite successful trading the GBP/AUD. The benefit of your excellent analysis is compromised by my using a cross pair instead of pure GBP/USD. Is it possible to subject the GBP/AUD to such analysis? I would imagine that the link to the DXY is a big driver in the GBP/USD, but counters many of the GBP/AUD moves...

As I have said before, I am more than willing to learn this analysis/approach, but I would want it to supplement my current use of the GBP/AUD. Realistic expectation?

Thanks,
TULKAS
6 traders viewing now