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Lock's Cable Corner

  • #5,481
  • Nov 16, 2017 5:46am Nov 16, 2017 5:46am
Some shake out occurred in the last hours just to remove very weak participants from the market. Note anyway that this market is still extremely weak: see current poor and weak GB high at round level 3200 and weak Tokyo low just above 31335 yesterday GB low. Note also that current GB action is occurring inside yesterday Gb session range: so we are in a balance environment again.

Finally note that the previous separate composite pocs has been unified at 3171 that is now the main poc of this zone.

Finally note that after the failure below last inside GB week lower extreme we are now above the opposite extreme (31905) of its range: meaning that this is an attempted breakout above weekly balance: monitor for continuation upside.
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  • #5,482
  • Nov 16, 2017 5:52am Nov 16, 2017 5:52am
In case of acceptation above 31905and consequently in case of continuation above weekly balance we could aim at 32803 (the top of a previous GB double pass gap)

Note that inside this multi pass gap we have October GB close level (3277): so if eventually reached note that for any more serious continuation upside we will need acceptation above it.
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  • #5,483
  • Nov 16, 2017 5:57am Nov 16, 2017 5:57am
If instead we will fail above last GB inside week high 31905 we could experience an other correction to the opposite side of weekly balance, always taking care of the attraction power of composite poc 3171. In this case, if we will not have balance again around comp poc, we coul solve yesterday GB poor low at 31335 and the lower double pass GB gap down to 31212

Then, in case of serious continuation downside have a look at the other lower weaknesses in yesterday weekly report
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  • #5,484
  • Nov 16, 2017 6:06am Nov 16, 2017 6:06am
It's worth note that yesterday pit session minuscule range (31545-31815) is inside previous pit session range (30962-31865): so monitor the situation at pit open as finding price above or below its range will mean a new gap upside or downside but also an attempted break above or pit below session balance.
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  • #5,485
  • Nov 17, 2017 3:05am Nov 17, 2017 3:05am
Quoting Lock
.... Finally note that after the failure below last inside GB week lower extreme we are now above the opposite extreme (31905) of its range: meaning that this is an attempted breakout above weekly balance: monitor for continuation upside.
Quoting Lock
In case of acceptation above 31905 and consequently in case of continuation above weekly balance we could aim at 32803 (the top of a previous GB double pass gap) Note that inside this multi pass gap we have October GB close level (3277): so if eventually reached note that for any more serious continuation upside we will need acceptation above it.

GB opened with a new gap upside, above last GB inside week high 31905, in the direction of GB October close level 3277. Furthermore yesterday GB session was an inside one and currently price is above yes GB session high 31995 so currently we are watching an attempted break upside from session balance too. Finally last period B was again an inside one and we are watching now an attempted break upside from m30 balance: so balance rules apply here in more than one single time frame, as the same thing is happening weekly, daily and in m30 time frame.
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  • #5,486
  • Nov 17, 2017 3:10am Nov 17, 2017 3:10am
When I wrote "balance rules apply" I hope you fully understand the concepts involved in such an assumption both in the case of a possible success of the attempted break but also of a possible failure of it.
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  • #5,487
  • Nov 17, 2017 5:24am Nov 17, 2017 5:24am
Quoting Lock
When I wrote "balance rules apply" I hope you fully understand the concepts involved in such an assumption both in the case of a possible success of the attempted break but also of a possible failure of it.
GB failed upside above m30 balance and started to liquidate Tokyo overnight activity. Note that we filled the new GB gap upside and we are now retesting yesterday GB session high 31995: it is important to evaluate acceptation or rejection below it as, in case of acceptation we could aim at the opposite side of yesterday GB session range while in case of failure we could experience a full correction upside. Note that we are very close to major composite poc 3191: it could attract price in balance, if no serious sellers are involved in this liquidation.
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  • #5,488
  • Nov 17, 2017 5:28am Nov 17, 2017 5:28am
In case of acceptation below yesterday GB session high 31995 we could also imagine a possible correction of Wednesday GB poor low 31335. But the first step is, I repeat it, acceptation below 31995. If not watch out for retracement.
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  • #5,489
  • Nov 17, 2017 5:29am Nov 17, 2017 5:29am
Quoting Lock
{quote} GB failed upside above m30 balance and started to liquidate Tokyo overnight activity. Note that we filled the new GB gap upside and we are now retesting yesterday GB session high 31995: it is important to evaluate acceptation or rejection below it as, in case of acceptation we could aim at the opposite side of yesterday GB session range while in case of failure we could experience a full correction upside. Note that we are very close to major composite poc 3191: it could attract price in balance, if no serious sellers are involved in this...
Hi Lock,
It seems like yesterday GB range activated again now? Isn't it?
  • #5,490
  • Nov 17, 2017 5:32am Nov 17, 2017 5:32am
Quoting Lock
If instead we will fail above last GB inside week high 31905 we could experience an other correction to the opposite side of weekly balance, always taking care of the attraction power of composite poc 3171. In this case, if we will not have balance again around comp poc, we coul solve yesterday GB poor low at 31335 and the lower double pass GB gap down to 31212 Then, in case of serious continuation downside have a look at the other lower weaknesses in yesterday weekly...

I hope everyone here noted that we are also retesting the breakeven of last weekly inside balance. Meaning last GB inside week high 31905: it is fundamental, from a mid term standpoint, to evaluate acceptation or rejection below this level!
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  • #5,491
  • Nov 17, 2017 5:33am Nov 17, 2017 5:33am
Quoting Lock
In case of acceptation below yesterday GB session high 31995 we could also imagine a possible correction of Wednesday GB poor low 31335. But the first step is, I repeat it, acceptation below 31995. If not watch out for retracement.
Thanks for great info Lock. from the day i am following you, I became profitable trader otherwise i was losing most of the times. My bad luck missed this before
  • #5,492
  • Nov 17, 2017 5:35am Nov 17, 2017 5:35am
Quoting Lock
{quote} I hope everyone here noted that we are also retesting the breakeven of last weekly inside balance. Meaning last GB inside week high 31905: it is fundamental, from a mid term standpoint, to evaluate acceptation or rejection below this level!
Also considering that it almost coincide with overnight activity low (Sydney low)
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  • #5,493
  • Nov 17, 2017 5:36am Nov 17, 2017 5:36am
Quoting haathmilao
{quote} Thanks for great info Lock. from the day i am following you, I became profitable trader otherwise i was losing most of the times. My bad luck missed this before
Well, happy for that. You're welcome. Best, L
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  • #5,494
  • Nov 17, 2017 8:52am Nov 17, 2017 8:52am
Quoting Lock
{quote} .... Note that we are very close to major composite poc 3191: it could attract price in balance, if no serious sellers are involved in this liquidation.
Current pit high 31985 and yesterday pit high 3207 are both weak as both tagged respective preUS high. Note also that price balanced for hours around 3191 composite poc as expected.
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  • #5,495
  • Nov 17, 2017 9:17am Nov 17, 2017 9:17am
Quoting Lock
{quote} Current pit high 31985 and yesterday pit high 3207 are both weak as both tagged respective preUS high. Note also that price balanced for hours around 3191 composite poc as expected.
First one taken out, and currently weak as round number.3200. But monitor for continuation as we are leaving downside a new pit poor low.
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  • #5,496
  • Nov 17, 2017 9:31am Nov 17, 2017 9:31am
Quoting Lock
{quote} Current pit high 31985 and yesterday pit high 3207 are both weak as both tagged respective preUS high. Note also that price balanced for hours around 3191 composite poc as expected.
second one tagged
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  • #5,497
  • Nov 17, 2017 10:05am Nov 17, 2017 10:05am
Quoting Lock
{quote} second one tagged
Eventually taken out. We need to stay above it now for any serious continuation upside. If not, remember the poor low left downside and all the other weaknesses.
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  • #5,498
  • Nov 20, 2017 4:14am Nov 20, 2017 4:14am
Hi Lock,

Missing your views about current flow upside. Price reached around 1.3280
  • #5,499
  • Nov 20, 2017 6:21am Nov 20, 2017 6:21am
Quoting haathmilao
Hi Lock, Missing your views about current flow upside. Price reached around 1.3280
Hi haathmilao, for now it bounced above mid term level 32674, previous weekly bracket high. And we are now above brexit low 32273
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  • #5,500
  • Nov 20, 2017 6:25am Nov 20, 2017 6:25am
Note GB high and low both poor.
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