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Lock's Cable Corner

  • #5,341
  • Oct 31, 2017 10:47am Oct 31, 2017 10:47am
Quoting Lock
{quote} 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.
So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. SO 33393 is pssoible if this run will start.
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  • #5,342
  • Oct 31, 2017 10:50am Oct 31, 2017 10:50am
Quoting Lock
{quote} So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. SO 33393 is pssoible if this run will start.
Note also that before 33393 we also have a GB poor high at 33115. Remember that, in any case, acceptation above 33674 is needed for any serious continuation upside.
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  • #5,343
  • Oct 31, 2017 11:00am Oct 31, 2017 11:00am
Quoting Lock
{quote} So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. SO 33393 is pssoible if this run will start.
So tokyo poor high tagged.
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  • #5,344
  • Oct 31, 2017 11:03am Oct 31, 2017 11:03am
Quoting Lock
{quote} So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. SO 33393 is pssoible if this run will start.

Note price went up just a couple of pips below 32905. I consider it as a weak high due to its exactness. But let's see.
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  • #5,345
  • Oct 31, 2017 11:23am Oct 31, 2017 11:23am
Quoting Lock
{quote} Note also that before 33393 we also have a GB poor high at 33115. Remember that, in any case, acceptation above 33674 is needed for any serious continuation upside.
32674 Retesting from above. Remember that we need acceptation above it to continue any higher.
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  • #5,346
  • Oct 31, 2017 11:47am Oct 31, 2017 11:47am
This is the last period for London. Let's see where it is going to close. And also let's see if it will be an inside period eventually leading to a new possible break.

Note: all the structure left downside in the last 2 days is ugly. So in case of liquidation, watch out.
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  • #5,347
  • Oct 31, 2017 12:22pm Oct 31, 2017 12:22pm
Quoting Lock
{quote} 32674 Retesting from above. Remember that we need acceptation above it to continue any higher.
Tested 3 times already
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  • #5,348
  • Oct 31, 2017 1:53pm Oct 31, 2017 1:53pm
Quoting Lock
{quote} So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. SO 33393 is pssoible if this run will start.
Here we are at the weak high, now it is also poor.
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  • #5,349
  • Nov 1, 2017 3:21am Nov 1, 2017 3:21am
Quoting Lock
{quote} So 32674 tagged. Note that pit high 3269 (just above our main level) is weak as it is almost a perfect tag of the same day PreUS high. Then above it we have Tokyo poor high 3279 and after it we have pit poor high 32905. So 33393 is possible if this run will start.
Quoting Lock
{quote} Note also that before 33393 we also have a GB poor high at 33115. Remember that, in any case, acceptation above 33674 is needed for any serious continuation upside.
GB opened with a huge gap upside and current high is just some pips short of 33115 old GB poor high that is also the second GB inside week high. Note also that 33393 is the absolute high of the first inside week: our natural target after the failure below weekly balance.

Note that after the failure below weekly balance we actually almost already managed to reach the opposite side of it as "predicted". I write predicted as in previous posts I wrote numerous time that we were into a weekly balance and balance rules teach us that when price failed attempting a break in one direction, below or above a balance, and then fails, the natural direction is towards the opposite side of that balance.
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  • #5,350
  • Nov 1, 2017 4:26am Nov 1, 2017 4:26am
3277 GB October close: it is an important level in order to evaluate the continuation or not upside. If not reached or rejected below it, continuation is possible. Also considering the new big GB gap upside from yesterday GB high 32235. Obviously I'm well aware of the ugliness of the structure left downside in the last 3 days after the failure below weekly balance. We have multiple poor lows and a lot of other weaknesses. So watch out as a liquidation is always possible in such conditions.
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  • #5,351
  • Nov 1, 2017 4:27am Nov 1, 2017 4:27am
PS: 3281 is yesterday pit unch meaning October Pit close.
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  • #5,352
  • Nov 1, 2017 4:30am Nov 1, 2017 4:30am
I'm speaking of a liquidation because from such a weak high this is the max I could expect. Not new money selling from suche a weak high but old business. Inventories too long at max. This is my opinion. Note GB high perfect tag of Tokyo high and just 1 pip shy of old GB poor high: this could not be the high of a month.
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  • #5,353
  • Nov 1, 2017 4:33am Nov 1, 2017 4:33am
Quoting Lock
PS: 3281 is yesterday pit unch meaning October Pit close.
S..t he last post caused a big loss for me. As while I was writing it reversed exactly from yes pit unch. That's bad.
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  • #5,354
  • Nov 1, 2017 4:33am Nov 1, 2017 4:33am
Sometimes I really don't understand the trades, I think please give us a more detail explatation. Like target , or direction .
Biggest Mistake ? Over Leverage
  • #5,355
  • Nov 1, 2017 4:35am Nov 1, 2017 4:35am
Quoting Lock
I'm speaking of a liquidation because from such a weak high this is the max I could expect. Not new money selling from suche a weak high but old business. Inventories too long at max. This is my opinion. Note GB high perfect tag of Tokyo high and just 1 pip shy of old GB poor high: this could not be the high of a month.
Because this post cost me a lot, at least re read it. Weak high wiped out (together with my stupid shorts)
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  • #5,356
  • Nov 1, 2017 4:39am Nov 1, 2017 4:39am
Quoting sing2x
Sometimes I really don't understand the trades, I think please give us a more detail explatation. Like target , or direction .
I do not suggest positions nor targets. I expose market generated information upon which anyone could build his own strategies, entries and so on. Btw I was liquidating alongside market open waiting for a new long, and just when I was writing upon the levels where such a reverse could happen, the real event occurred and I've been stopped out. So right now I'm particular angry. That's all. And it is my fault.
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  • #5,357
  • Nov 1, 2017 4:46am Nov 1, 2017 4:46am
Now, 33237 is the top of the first inside GB week (is GB 13.10 high) so because price failed below the first inside GB week we substantially reached the opposite side of it. target almost taken out (short of it 3 pips). I do not want to be too precise. From my point of view the natural target is achieved.

After that, we could have the following scenarios:

  1. we could continue higher obtaining acceptation above 33237.
  2. we could remain in balance
  3. we could liquidate.


Right now I've not so much info in order to establish odds. The thing I can say is that the mid term one time framing action downside is stopped as we took out the highs of the last 2 weeks.

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  • #5,358
  • Nov 1, 2017 4:53am Nov 1, 2017 4:53am
Anyway there are 2 important info to consider. First of all the last post regarded Gb action only. Meaning that the absolute high of the first inside week is almost 33393 as written many times while instead 33237 is the high of the first inside week only considering GB sessions. The second thing is that yesterday we left 2 back to back pit poor high unsolved 32882 (yesterday pit high) and 32905 (16.10 pit poor high).

So in my opinion we cannot imagine a pit session opening below this values and continuing lower without correcting them and without testing the absolute high of the first inside week (33393).
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  • #5,359
  • Nov 1, 2017 5:05am Nov 1, 2017 5:05am
An important note. Last month (October) is an inside one. Its range is inside September range. So we are in a monthly balance: balance rules apply. October absolute extremes are 30269-3402. Any attempt above or below these levels has to be considered an attempted break.
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  • #5,360
  • Nov 1, 2017 5:16am Nov 1, 2017 5:16am
Too much space left behind in this rally upwards.
After all forex is like a balloon - when pressure gets too much it blows up and descends with great velocity.
Most of the times news are deceiving the real direction. Every institution is speculating on the market providing public information, which they themselves really do not believe or really use.
It could build up a top now and plummet or reach around 1.35 and then plummet, depends how long one can stand the market .

Lock's last post, the one before mine is very insightful.
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