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Lock's Cable Corner

  • #5,321
  • Oct 30, 2017 8:38am Oct 30, 2017 8:38am
Quoting Lock
{quote} So, GB eventually found acceptation above 31637. Now price is around composite poc 3190. Volume needed to evade it. But note the building of a new possible pit gap upside from Friday pit session high 3136. If preserved we could continue higher towards 32674.
So the pit session opened with a considerable new gap upside from yesterday pit high 3136. If preserved and not retraced quickly odds are in favor for a continuation upside. In the case, next visible level is brexit low 32273. Note anyhow that price is close to composite poc 3190: volume needed in order to evade it.
Ubi maior minor cessat
  • #5,322
  • Oct 30, 2017 9:11am Oct 30, 2017 9:11am
If instead it wants to liquidate next visible level downside is the composite poc 3134 anticipated by a retest of 31637.
Ubi maior minor cessat
  • #5,323
  • Oct 30, 2017 9:31am Oct 30, 2017 9:31am
Quoting Lock
If instead it wants to liquidate next visible level downside is the composite poc 3134 anticipated by a retest of 31637.
Again 31637 is a mid term level and consequently a good test to understand current US participation and conviction. Acceptation or rejection below it could determine the session development.
Ubi maior minor cessat
  • #5,324
  • Oct 30, 2017 10:25am Oct 30, 2017 10:25am
Quoting Lock
{quote} So the pit session opened with a considerable new gap upside from yesterday pit high 3136. If preserved and not retraced quickly odds are in favor for a continuation upside. In the case, next visible level is brexit low 32273. Note anyhow that price is close to composite poc 3190: volume needed in order to evade it.
Quoting Lock
{quote} Again 31637 is a mid term level and consequently a good test to understand current US participation and conviction. Acceptation or rejection below it could determine the session development.
Back to 3190 after the rejection right above 31637.
Ubi maior minor cessat
  • #5,325
  • Oct 30, 2017 10:27am Oct 30, 2017 10:27am
Quoting Lock
{quote} {quote} Back to 3190 after the rejection right above 31637.

Note that it left a poor low just above 31637. Note also that the new pit gap upside remained unfilled, so odds are again in favor to a continuation upside or at least to balance around 3190
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  • #5,326
  • Oct 30, 2017 11:00am Oct 30, 2017 11:00am
Quoting Lock
{quote} Note that it left a poor low just above 31637. Note also that the new pit gap upside remained unfilled, so odds are again in favor to a continuation upside or at least to balance around 3190

Tested above overnight high (preUS high) and back to comp poc 3190.
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  • #5,327
  • Oct 30, 2017 12:39pm Oct 30, 2017 12:39pm
Last period inside one: balance rules apply. There still the possibility to fill the triple pass pit gap up to 32242 and eventually to test 32273 brexit low. But watch out for a liquidation to comp poc that attracted price all day long. So go with the break if any and monitor for continuation.
Ubi maior minor cessat
  • #5,328
  • Edited 3:54am Oct 31, 2017 3:26am | Edited 3:54am
GB gapped higher from yesterday GB high 3194 and above yesterday GB spike base 3169. So we got 2 excess in the same direction. Odds afre in favor for a continuation upside if the new gap will not be retraced quickly.

The problem is that we opened very close to composite poc 3190: volume is needed to evade it. In case of success upside next visible level is brexit low 32273. Followed by 32674. In case of liquidation the clear safe place to go is 3190 composite poc. And then, in case of continuation downside a new test of 31637 is possible.
Ubi maior minor cessat
  • #5,329
  • Oct 31, 2017 3:41am Oct 31, 2017 3:41am
Quoting Lock
GB gapped higher from yesterday GB high 3194 and above yesterday GB spike base 3169. So we got 2 excess in the same direction. Odds afre in favor for a continuation upside if the new gap will not be retraced quickly. The problem is that we opened very close to composite poc 3190: volume is needed to evade it. In case of success upside next visible level is brexit low 32273. Followed by 32674. In case of liquidation the clear safe place to go is 3190 composite poc. And then, in case of continuation downside a new test of 31637 is possible. #s3gt_translate_tooltip_mini...
another thing to add is net longs in GBP are 55% and points to extreme bullishness. not saying it will retrace immediately but have to see it around thursday.
  • #5,330
  • Oct 31, 2017 5:20am Oct 31, 2017 5:20am
Quoting Lock;10443470[B
]GB gapped higher from yesterday GB high 3194 and above yesterday GB spike base 3169. So we got 2 excess in the same direction. Odds afre in favor for a continuation upside if the new gap will not be retraced quickly.[/b] The problem is that we opened very close to composite poc 3190: volume is needed to evade it. In case of success upside next visible level is brexit low 32273. Followed by 32674. In case of liquidation the clear safe place to go is 3190 composite poc. And then, in case of continuation downside a new test of 31637 is possible.
New modest gap still in place, poor high.
Ubi maior minor cessat
  • #5,331
  • Oct 31, 2017 5:27am Oct 31, 2017 5:27am
Cluster poor high. A liquidation from here could only be a very weak one even though we have a lot of weaknesses left downside. Also remember that for now we have been rejected below weekly balance and consequently the natural direction is the opposite side of it. (See previous posts). The only main conflicting information here is that we are still in a weekly one time framing lower action. Meaning that the last 7 week never took out previous week high (one time frame action for definition) and consequently we are still in a mide term trend downside.

So if the failure below weekly balance was good we have the opportunity to reverse the trend downside. If not maybe a new test of the weekly balance low is possible. I repeat it anyway, for now odds are in favor to a continuation upside.
Ubi maior minor cessat
  • #5,332
  • Oct 31, 2017 5:55am Oct 31, 2017 5:55am
No acceptation found above overnight high (Tokyo high). Only with acceptation above it a continuation upside is possible. Otherwhise a liquidation or continuing balance are very possible.
Ubi maior minor cessat
  • #5,333
  • Oct 31, 2017 6:17am Oct 31, 2017 6:17am
Note that we are in a very weak environment as current high is weak as a tag of Tokyo high while at the same time Tokyo got a poor low. Let's see if it want to spike in the last 2 periods before PreUS or if it want to wait for news*.

*I mean wait for pit session remaining in balance or not.
Ubi maior minor cessat
  • #5,334
  • Oct 31, 2017 6:23am Oct 31, 2017 6:23am
Quoting Lock
Note that we are in a very weak environment as current high is weak as a tag of Tokyo high while at the same time Tokyo got a poor low. Let's see if it want to spike in the last 2 periods before PreUS or if it want to wait for news*. *I mean wait for pit session remaining in balance or not.
The reason for this observation comes from the fact that we are around the remaining portion of a triple pass pit gap (32145-32242) and if we will continue higher form here before pit open we could transform this zone in a 4 pass gap (considering a new pit gap upside). And this is a very rare occurrence, even if possible. In this particular situation we will have to see pit participants' reaction at open, specially at news time.
Ubi maior minor cessat
  • #5,335
  • Oct 31, 2017 7:38am Oct 31, 2017 7:38am
Quoting Lock
{quote} The reason for this observation comes from the fact that we are around the remaining portion of a triple pass pit gap (32145-32242) and if we will continue higher form here before pit open we could transform this zone in a 4 pass gap (considering a new pit gap upside). And this is a very rare occurrence, even if possible. In this particular situation we will have to see...
Composite poc switched to 3204 from 3190. Note that we are still below the triple pass pit gap.
Ubi maior minor cessat
  • #5,336
  • Oct 31, 2017 8:06am Oct 31, 2017 8:06am
Quoting Lock
GB gapped higher from yesterday GB high 3194 and above yesterday GB spike base 3169. So we got 2 excess in the same direction. Odds afre in favor for a continuation upside if the new gap will not be retraced quickly. The problem is that we opened very close to composite poc 3190: volume is needed to evade it.
Quoting Lock
In case of success upside next visible level is brexit low 32273. Followed by 32674. In case of liquidation the clear safe place to go is 3190 composite poc. And then, in case of continuation downside a new test of 31637 is possible.
Quoting Lock
Cluster poor high. A liquidation from here could only be a very weak one even though we have a lot of weaknesses left downside. Also remember that for now we have been rejected below weekly balance and consequently the natural direction is the opposite side of it. (See previous posts).
Quoting Lock
The only main conflicting information here is that we are still in a weekly one time framing lower action. Meaning that the last 7 week never took out previous week high (one time frame action for definition) and consequently we are still in a mide term trend downside. So if the failure below weekly balance was good we have the opportunity to reverse the trend downside. If not maybe a new test of the weekly balance low is possible.
Quoting Lock
I repeat it anyway, for now odds are in favor to a continuation upside.
So it is continuing higher as expected. The problem here is that it is leaving downside the triple pass pit gap 32145-32242. So we have to see the reaction of US participants at pit open in order to evaluate if this zone could again attract price or not.
Ubi maior minor cessat
  • #5,337
  • Oct 31, 2017 9:03am Oct 31, 2017 9:03am
Quoting Lock
GB gapped higher from yesterday GB high 3194 and above yesterday GB spike base 3169. So we got 2 excess in the same direction. Odds afre in favor for a continuation upside if the new gap will not be retraced quickly. The problem is that we opened very close to composite poc 3190: volume is needed to evade it. In case of success upside next visible level is brexit low 32273. Followed by 32674. In case of liquidation the clear safe place to go is 3190 composite poc. And then,...
Now, after 32674, in case of continuatoin upside we have 33393.

If it will fail to continue, now 4 pass pit gap 32145-32242 and 3204 composite poc are clearly lower targets.
Ubi maior minor cessat
  • #5,338
  • Oct 31, 2017 9:23am Oct 31, 2017 9:23am
U sir, have a great thread going!
I am following!!
  • #5,339
  • Oct 31, 2017 10:02am Oct 31, 2017 10:02am
C inside period of B: balance rules apply. Watch out.
Ubi maior minor cessat
  • #5,340
  • Oct 31, 2017 10:43am Oct 31, 2017 10:43am
Time to Break 32674
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