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Lock's Cable Corner

  • #5,661
  • Dec 1, 2017 8:37am Dec 1, 2017 8:37am
Note that for now value is lower from yesterday and price never reached yesterday pit session unchanged level 35235. Acceptation above it is absolutely needed for anything serious upside. And it is needed quickly.
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  • #5,662
  • Dec 1, 2017 8:53am Dec 1, 2017 8:53am
Quoting Lock
Note that for now value is lower from yesterday and price never reached yesterday pit session unchanged level 35235. Acceptation above it is absolutely needed for anything serious upside. And it is needed quickly.
Just one single pip shy of it.
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  • #5,663
  • Dec 1, 2017 11:25am Dec 1, 2017 11:25am
Quoting Lock
Note that for now value is lower from yesterday and price never reached yesterday pit session unchanged level 35235. Acceptation above it is absolutely needed for anything serious upside. And it is needed quickly.
Quoting Lock
{quote} Just one single pip shy of it.
Not so common but sometimes happens: the perfect textbook example.

Today pit value was lower from yesterday pit value and price never reached 35235. And when it finally almost did it, it was not able to even go above it nor to establish any form of acceptation above it: consequently liquidation occurred.

We trade value not price. And when you see that there are no chances to move value higher from previous session (and the only way this could happen was to see price above yes pit unch 35235, very quickly), any attempt upside is more and more dangerous as price is going against value. Many do not recognize this situation and insist buying. Eventually this lack of awareness will be punished.
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  • #5,664
  • Dec 1, 2017 11:30am Dec 1, 2017 11:30am
I'm off, have a nice continuation and weekend. Best, L.
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  • #5,665
  • Dec 3, 2017 11:45pm Dec 3, 2017 11:45pm
There is a one single pip GB gap at 3431-3432. I think that GB could fill it at open. But in any case note that GB will probably open below Friday GB low 3475, meaning with a new substantial gap downside.

Now, after the possible filling of the GB single pip gap (3431-3432) take into consideration the fact that unless the new Gb gap downside will be filled quickly, odds will be in favor of a continuation downside. In which case the next visible levels are 3402 (inside month absolute high) and 33652 (GB inside month high). Note that between them we got a composite poc at 3397.

If instead the new GB gap downside from Friday GB low 3475 will be filled quickly odds will be in favor to a retracement upside in order to correct the weak high at 35495 (back to back Tokyo and Pit highs). In this second case the next visible levels are 3503 (2009 absolute low) and the composite poc 3521.

PS: 3444 is the main level of current price zone.
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  • #5,666
  • Dec 4, 2017 12:13am Dec 4, 2017 12:13am
Quoting Lock
There is a one single pip GB gap at 3431-3432. I think that GB could fill it at open. But in any case note that GB will probably open below Friday GB low 3475, meaning with a new substantial gap downside. Now, after the possible filling of the GB single pip gap (3431-3432) take into consideration the fact that unless the new Gb gap downside will be filled quickly, odds will be in favor of a continuation downside. In which case the next visible levels are 3402 (inside month absolute high) and 33652 (GB inside...
one single pip GB gap filled. Now watch out.
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  • #5,667
  • Dec 4, 2017 12:18am Dec 4, 2017 12:18am
As you see after this initial task it started a short covering. But it is against the new gap downside. If it will fail to fill it remember that odds will be in favor to continue lower. Also, even if it will fill it but will not be able to obtain acceptation back inside GB session range (above 3475), odds will be for a continuation downside too. Only if it will quickly fill this new gap and if it will obtain acceptation above 3475 we could imagine a full correction of Friday up to 35495.
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  • #5,668
  • Dec 4, 2017 2:56am Dec 4, 2017 2:56am
Quoting Lock
As you see after this initial task it started a short covering. But it is against the new gap downside. If it will fail to fill it remember that odds will be in favor to continue lower. Also, even if it will fill it but will not be able to obtain acceptation back inside GB session range (above 3475), odds will be for a continuation downside too. Only if it will quickly fill this new gap and if it will obtain acceptation above 3475 we could imagine a full correction of Friday up to 35495.
So it continued lower as expected after a failed attempt to fill the new gap downside. Anyhow it is currently building an inside period. If so balance rules apply.
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  • #5,669
  • Dec 4, 2017 3:17am Dec 4, 2017 3:17am
Quoting Lock
{quote} So it continued lower as expected after a failed attempt to fill the new gap downside. Anyhow it is currently building an inside period. If so balance rules apply.
As you see...
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  • #5,670
  • Dec 4, 2017 3:19am Dec 4, 2017 3:19am
...the power of market generated information...

I'll be off for a while. Have a nice continuation. Best, L.
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  • #5,671
  • Dec 4, 2017 4:41am Dec 4, 2017 4:41am
Price is balancing around composite poc 3521. With weak hands it will tend to attract price. Less than half an hour to preUS open. Most important value in this zone will be Friday pit high 35225: acceptation above or below it will be important for upcoming pit session. The other 2 main levels are clearly 3503 and 35326. Remember that this move upside could be aimed to correct the very weak high 35495.
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  • #5,672
  • Dec 4, 2017 4:43am Dec 4, 2017 4:43am
Personally I do not like the way it moved upwards as G period has been very elongated. But considering that this is the last period before preUS I'll wait for preUS participants' reaction and specially for the reaction of pit operators.
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  • #5,673
  • Dec 4, 2017 5:04am Dec 4, 2017 5:04am
Quoting Lock
Price is balancing around composite poc 3521. With weak hands it will tend to attract price. Less than half an hour to preUS open. Most important value in this zone will be Friday pit high 35225: acceptation above or below it will be important for upcoming pit session. The other 2 main levels are clearly 3503 and 35326. Remember that this move upside could be aimed to correct the very weak high 35495.
Did you see it? PreUS opened, tagged 3503 at the pip , then went up and tagged 35225 at the pip again.
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  • #5,674
  • Dec 4, 2017 5:11am Dec 4, 2017 5:11am
Quoting Lock
{quote} Did you see it? PreUS opened, tagged 3503 at the pip , then went up and tagged 35225 at the pip again.
As written: monitor carefully for acceptation or rejection above 35225 pit Friday high.
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  • #5,676
  • Dec 4, 2017 5:42am Dec 4, 2017 5:42am
Quoting Lock
Price is balancing around composite poc 3521. With weak hands it will tend to attract price. Less than half an hour to preUS open. Most important value in this zone will be Friday pit high 35225: acceptation above or below it will be important for upcoming pit session. The other 2 main levels are clearly 3503 and 35326. Remember that this move upside could be aimed to correct the very weak high 35495.
Here we are just below 35326.

If we reach it and if we get acceptation above it we could aim at 3586 preUS poor high and 36065 2009 pit low.

If not, meaning if we will not see acceptation above 35326 we could experience some sort of liquidation. In any case we still need to see the reaction of pit US at these levels. And pit opens at 15:30+1GMT
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  • #5,677
  • Dec 4, 2017 6:04am Dec 4, 2017 6:04am
Quoting Lock
{quote} Here we are just below 35326. If we reach it and if we get acceptation above it we could aim at 3586 preUS poor high and 36065 2009 pit low. If not, meaning if we will not see acceptation above 35326 we could experience some sort of liquidation. In any case we still need to see the reaction of pit US at these levels. And pit opens at 15:30+1GMT
You just saw the liquidation. But now we have a preUS poor high and pit not opened yet.
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  • #5,678
  • Dec 4, 2017 6:26am Dec 4, 2017 6:26am
less than 5 min to open. Levels are the same. But it looks like we will open inside Friday pit session range. So moderate your expectations.
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  • #5,679
  • Dec 4, 2017 7:02am Dec 4, 2017 7:02am
Now we got 2 back to back poor high (preUS 3530 and current pit)
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  • #5,680
  • Dec 4, 2017 7:04am Dec 4, 2017 7:04am
Pit poor high removed. We are again at Friday pit high : it is crucial to evaluate acceptation or rejection above it.
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