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Lock's Cable Corner

  • #5,721
  • Dec 12, 2017 4:07am Dec 12, 2017 4:07am
Quoting Lock
{quote} Now watch out if you will not see continuation below 33375 as this action is for now only a shakeout. A different story will be if we will find acceptation below overnight low (Tokyo low 3333), in which case odds will be in favor to at least a test of GB inside week low 33193
33193 tagged at the pipette.
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  • #5,722
  • Dec 12, 2017 4:10am Dec 12, 2017 4:10am
I suggest to re read all the previous today posts as it is a real textbook. It is not so common to have all these examples in the same session. It could be very useful in order to appreciate the importance of market generated information and the way a trader could successfully use them in order to perform his or her decisions.
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  • #5,723
  • Dec 12, 2017 4:12am Dec 12, 2017 4:12am
Now, having said that, current GB low exactly at 33193 is a weak one as any other very exact tag. This does not mean we got to go there again and take it out right now. But it means that with any probability those who bought exactly there are, again, weak hands operators as stronger ones do not perform positions at exact levels.
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  • #5,724
  • Dec 12, 2017 4:18am Dec 12, 2017 4:18am
I'm off for a while. Remember that for a continuation downside we need to get acceptation below overnight low 3333. Have a nice continuation. Best, L.
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  • #5,725
  • Dec 12, 2017 4:21am Dec 12, 2017 4:21am
PS: yesterday GB participants produced an inside GB session (meaning a session whose range is contained in the range of the previous GB session) Now we are watching an attempted breakout below its lower extreme that is yesterday GB low 33423: success or failure of this break out attempt will have to be measured with acceptation below this level.
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  • #5,726
  • Dec 12, 2017 6:38am Dec 12, 2017 6:38am
Quoting Lock
Now, having said that, current GB low exactly at 33193 is a weak one as any other very exact tag. This does not mean we got to go there again and take it out right now. But it means that with any probability those who bought exactly there are, again, weak hands operators as stronger ones do not perform positions at exact levels.
Price went down again, tested below 33193, removed the weak hands SL there, found not acceptation (no 2 m30 periods closed below it) and retrace back upside.

Quoting Lock
I'm off for a while. Remember that for a continuation downside we need to get acceptation below overnight low 3333. Have a nice continuation. Best, L.
Acceptation below 3333. We didn't get it at all (again no 2 m30 periods closed below it).

Quoting Lock
PS: yesterday GB participants produced an inside GB session (meaning a session whose range is contained in the range of the previous GB session) Now we are watching an attempted breakout below its lower extreme that is yesterday GB low 33423: success or failure of this break out attempt will have to be measured with acceptation below this level.
..and eventually it failed below yesterday GB session low 33423, finding acceptation back above it (2 m30 periods closed above it)
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  • #5,727
  • Dec 12, 2017 6:45am Dec 12, 2017 6:45am
Very clear. Thank you
TULKAS
  • #5,728
  • Dec 12, 2017 6:47am Dec 12, 2017 6:47am
Now, in less than half an hour preUS will open. The information that I note here are:

  1. we have seen a failure below both GB inside session (yesterday) and below weekly balance.
  2. we didn't see price obtaining acceptation back above GB inside month high 33652.
  3. a notable amount of weaknesses left upside up to 3530 as the last visible one (close enough to interest us today I mean).

While the first 2 info regard mainly GB operators the last one will regard mainly US participants. So it will be crucial to wait and see how they will react to current price location, considering that the main levels for pit session are 3327 inside month pit high (still never tested),yesterday pit unchanged level 33385 (yes pit close), 33752 (yesterday pit poor high tagging preUS high), 3402 inside month absolute high.

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  • #5,729
  • Dec 12, 2017 6:54am Dec 12, 2017 6:54am
So, considering the previous post and adding Friday pit low 3355 as an other important level to consider during upcoming pit session, we could imagine some scenarios:

  1. we could see price continuing higher and find acceptation back inside last pit inside week (above pit Friday low 3355) and continue higher in order to clear the weak levels left upside up to at least 3530.
  2. or at the opposite we could see a clear rejection above Friday pit low 3355 and then going down again in order to eventually test pit inside month high at 3327.
  3. or, we could remain here in balance waiting for some major change.

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  • #5,730
  • Dec 12, 2017 7:27am Dec 12, 2017 7:27am
Quoting Lock
So, considering the previous post and adding Friday pit low 3355 as an other important level to consider during upcoming pit session, we could imagine some scenarios: we could see price continuing higher and find acceptation back inside last pit inside week (above pit Friday low 3355) and continue higher in order to clear the weak levels left upside up to at least 3530. or at the opposite we could see a clear rejection above Friday pit low 3355 and then going down again in order to eventually test pit inside month high at 3327. or, we could...
Testing pit Friday low 3355 right now: but we are still in preUS session.
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  • #5,731
  • Dec 12, 2017 8:39am Dec 12, 2017 8:39am
pit inside month high 3327 testing: watch out here.
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  • #5,732
  • Dec 12, 2017 11:18am Dec 12, 2017 11:18am
Quoting Lock
pit inside month high 3327 testing: watch out here.
We obtained acceptation below pit inside month high 3327. And this could favor odds for a continuation downside. The problem is that we got this acceptation with a lot of fatigue and suffering, plus leaving upside an other poor high (preUS at 3369).

So you could stay short if you already are but always considering the possible risks involved in such a weak action downwards: for example a sharp fast short covering.
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  • #5,733
  • Dec 12, 2017 11:41am Dec 12, 2017 11:41am
Quoting Lock
{quote} We obtained acceptation below pit inside month high 3327. And this could favor odds for a continuation downside. The problem is that we got this acceptation with a lot of fatigue and suffering, plus leaving upside an other poor high (preUS at 3369). So you could stay short if you already are but always considering the possible risks involved in such a weak action downwards: for example a sharp fast short covering.
Thanks for sharing, Lock.. Deeply appreciated.
  • #5,734
  • Dec 13, 2017 12:58am Dec 13, 2017 12:58am
Generally when you have "big" news announced for late in the day we got weak hands operating before. So take into consideration that if you want to trade today, before news, your competitors will probably be weak participants and consequently you'll have to adjust your behavior accordingly.
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  • #5,735
  • Dec 13, 2017 4:08am Dec 13, 2017 4:08am
Quoting Lock
Generally when you have "big" news announced for late in the day we got weak hands operating before. So take into consideration that if you want to trade today, before news, your competitors will probably be weak participants and consequently you'll have to adjust your behavior accordingly.
Current low at 33113 is weak and poor as it is almost a perfect tag of yesterday GB low and also a tag of overnight low. Plus it is only some pips above yesterday pit poor low at 3303. At the same time note that current high is a perfect tag of yesterday preUS poor high 3369 and it is only some pips below Monday pit poor high at 33725. So, as expected we have only weak hands here, totally ruling the market.
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  • #5,736
  • Dec 13, 2017 4:32am Dec 13, 2017 4:32am
Inside period: balance rules apply.

PS: I'm curious to know if those who follow this thread use a normal TPO tool to visualize sessions' profiles, periods and letters.
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  • #5,737
  • Dec 13, 2017 7:28am Dec 13, 2017 7:28am
From inside pit week low 3355 at the pip to inside pit month high 3327: still weak hands participants for now. Watch out.
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  • #5,738
  • Dec 13, 2017 7:35am Dec 13, 2017 7:35am
Quoting Lock
From inside pit week low 3355 at the pip to inside pit month high 3327: still weak hands participants for now. Watch out.
Back to pit inside week low 3355: now poor high.
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  • #5,739
  • Dec 13, 2017 7:37am Dec 13, 2017 7:37am
3 poor highs in a row up to 33725.
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  • #5,740
  • Dec 13, 2017 7:39am Dec 13, 2017 7:39am
Quoting Lock
{quote} Back to pit inside week low 3355: now poor high.
3355 taken out.

Monitor for acceptation above it as it is the pit inside week low: any serious attempt upside requires acceptation above it. If not watch out agai as we are leavin downside other 3 poor lows in a row. Down to 3303
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