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Lock's Cable Corner

  • #5,761
  • Dec 14, 2017 4:47am Dec 14, 2017 4:47am
Now, 34295 is yesterday pit session high: during upcoming preUS session monitor for the possible formation of a new pit gap upside from here. As it could be crucial in order to possibly skip the weaknesses left downside.

Furthermore take into serious consideration yesterday pit session upside spike's base at 33775, as it is the major test level for upcoming pit session. An open above or below it could be significant in order to establish a first impression of where the market could be oriented.
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  • #5,762
  • Dec 14, 2017 4:50am Dec 14, 2017 4:50am
Quoting Lock
{quote} Even though this book is fundamental in order to gain the very bases of this approach I must stress that it is only the first step of a long learning process. A lot of practice and a lot of other info are needed in order to start to be proficient in such an approach. Or, at least, this is my personal experience. So even if you'll reach the "aha moment" during the first reading don't let yourself think that it will be that easy. As it is not.
Would you consider assembling a "path" for those aspiring to achieve the accuracy you document here? I would not presume upon your time to ask you to become the instructor, but a required reading list, valuable videos, etc would be immensely helpful.
TULKAS
  • #5,763
  • Dec 14, 2017 4:59am Dec 14, 2017 4:59am
Quoting Tulkas
{quote} Would you consider assembling a "path" for those aspiring to achieve the accuracy you document here? I would not presume upon your time to ask you to become the instructor, but a required reading list, valuable videos, etc would be immensely helpful.
I provided multiple times the same info in this thread and privately when required and I'll repeat here again. The most common reading, obviously needed to form a base for the learning process are, in my opinion: the market profile manual, J. Dalton's, P. Steidlmayer's and T. Alexander's books (all of them). After them I suggest to read the articles provided by J. Dalton. Then I think the most profitable continuation will be a full immersion in the registered webinars of J. Dalton. Most of them are free in the net and only a search is needed. In my learning path I followed hundreds of webinars live and I often re listen the registered ones. I also often re read the articles and the books. Then, in order to perfect your trading, some years (this happened in my case but obviously it could vary depending upon personal qualities) of direct experience is needed to adjust your approach to the specific instrument you're going to trade. I hope it could help. Best, L.

PS: the most important thing anyway is to imagine the learning process as a never ending one. As market continuously changes and if you want to survive you must change too accordingly to it.
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  • #5,764
  • Dec 14, 2017 5:06am Dec 14, 2017 5:06am
3406 zone is very weak: consider this in case of shake out during news.

Also remember that in case of strong sharp liquidation we have space to 3303. I mean that there is absolutely nothing capable to stop a substantial liquidation (if it will happen) until that zone. I underline the fact that I'm not predicting a liquidation here, I'm only saying that it could happen and that in the specific case we got a huge number of weaknesses left downside, including current low at 34065.

If instead we will manage to avoid a liquidation, for instance with a new pit gap upside or in other possible ways, then we could continue higher towards the upper extreme of the weekly balance 35245. Because for now, pit session failed below its lower extreme at 3355. And it also failed below pit inside month high 3327.
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  • #5,765
  • Dec 14, 2017 6:00am Dec 14, 2017 6:00am
Quoting Lock
3406 zone is very weak: consider this in case of shake out during news. Also remember that in case of strong sharp liquidation we have space to 3303. I mean that there is absolutely nothing capable to stop a substantial liquidation (if it will happen) until that zone. I underline the fact that I'm not predicting a liquidation here, I'm only saying that it could happen and that in the specific case we got a huge number of weaknesses left downside, including current low at 34065. If instead we will manage...

as you see, after news, here we have 3406 taken out. Now let's see if there is something more downside (substantial liquidation) or not.

3402 inside month absolute high: acceptation below it needed for continuation downside. If not all the way back upside to 3444.
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  • #5,766
  • Dec 14, 2017 6:02am Dec 14, 2017 6:02am
Quoting Lock
{quote} as you see, after news, here we have 3406 taken out. Now let's see if there is something more downside (substantial liquidation) or not. 3402 inside month absolute high: acceptation below it needed for continuation downside. If not all the way back upside to 3444.

3402 in test.
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  • #5,767
  • Dec 14, 2017 6:04am Dec 14, 2017 6:04am
Quoting Lock
{quote} I provided multiple times the same info in this thread and privately when required and I'll repeat here again. The most common reading, obviously needed to form a base for the learning process are, in my opinion: the market profile manual, J. Dalton's, P. Steidlmayer's and T. Alexander's books (all of them). After them I suggest to read the articles provided by J. Dalton. Then I think the most profitable continuation will be a full immersion in the registered...
Lock, I don't know how to do it (I'm sure someone out there does) but this forum has the ability to tag important posts like this one so that you do not have to repeat yourself. I think it can be added to the first page as a permanent note or something.

I will devour the list provided and apply myself to the process. Many thanks.
TULKAS
  • #5,768
  • Dec 14, 2017 6:11am Dec 14, 2017 6:11am
Quoting Tulkas
{quote} Lock, I don't know how to do it (I'm sure someone out there does) but this forum has the ability to tag important posts like this one so that you do not have to repeat yourself. I think it can be added to the first page as a permanent note or something. I will devour the list provided and apply myself to the process. Many thanks.

Well, this time I already saved it on my links, if someone else will ask it again I'll post it. Best, L.

PS: have a nice and useful learning process.
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  • #5,769
  • Dec 14, 2017 6:29am Dec 14, 2017 6:29am
3420 yes pit unch: monitor for acceptation or rejection above it after pit open.
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  • #5,770
  • Dec 14, 2017 6:37am Dec 14, 2017 6:37am
Quoting Lock
{quote} 3402 in test.
pit retesting 3402 after open.
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  • #5,771
  • Dec 14, 2017 7:59am Dec 14, 2017 7:59am
Quoting Lock
{quote} pit retesting 3402 after open.
Quoting Lock
3420 yes pit unch: monitor for acceptation or rejection above it after pit open.
After an our and a half testing without any profit 3402, here we are at yes pit unch 3420. Testing it.
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  • #5,772
  • Dec 14, 2017 8:02am Dec 14, 2017 8:02am
Quoting Lock
{quote} as you see, after news, here we have 3406 taken out. Now let's see if there is something more downside (substantial liquidation) or not. 3402 inside month absolute high: acceptation below it needed for continuation downside. If not all the way back upside to 3444.
We got no acceptation below 3402 (no 2 m30 period closed below it). And so no liquidation and instead a rally towards 3444. Now testing also yes pit high: acceptation above it needed for continuation.
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  • #5,773
  • Dec 14, 2017 8:05am Dec 14, 2017 8:05am
Remember always to take the market a piece at a time. Level after level. Any acceptation or rejection could morph the current situation and if you want to be profitable you must adapt accordingly. The are not absolute good decision to marry with.
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  • #5,774
  • Dec 14, 2017 8:21am Dec 14, 2017 8:21am
Quoting Lock
{quote} We got no acceptation below 3402 (no 2 m30 period closed below it). And so no liquidation and instead a rally towards 3444. Now testing also yes pit high: acceptation above it needed for continuation.
yes pit high level is 34295 (if you do not have a session tpo to visualize it)
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  • #5,775
  • Dec 14, 2017 8:32am Dec 14, 2017 8:32am
Quoting Lock
{quote} {quote} After an our and a half testing without any profit 3402, here we are at yes pit unch 3420. Testing it.
Acceptation above yes pit unch 34020 obtained.
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  • #5,776
  • Dec 14, 2017 8:36am Dec 14, 2017 8:36am
Quoting Lock
{quote} yes pit high level is 34295 (if you do not have a session tpo to visualize it)
Still working on it: for now we got no acceptation above it. Last accepted level is 3420. If you are buying your stops should be below it. And if you do not see acceptation above 34295 quickly, watch out. Because we are in a rotational environment.
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  • #5,777
  • Dec 14, 2017 9:33am Dec 14, 2017 9:33am
Quoting Lock
{quote} Still working on it: for now we got no acceptation above it. Last accepted level is 3420. If you are buying your stops should be below it. And if you do not see acceptation above 34295 quickly, watch out. Because we are in a rotational environment.
Technically we got acceptation above 34295 but I do not like it so much. A lot of indecision. I'll be off for a while. Watch out. Best, L.
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  • #5,778
  • Dec 14, 2017 9:45am Dec 14, 2017 9:45am
Inside period: balance rules apply. Poor high.
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  • #5,779
  • Dec 14, 2017 10:54am Dec 14, 2017 10:54am
Quoting Lock
{quote} as you see, after news, here we have 3406 taken out. Now let's see if there is something more downside (substantial liquidation) or not. 3402 inside month absolute high: acceptation below it needed for continuation downside. If not all the way back upside to 3444.
And eventually, even though with a lot of suffering*, after the rejection below 3402, here we are at 3444. Now for any serious continuation upside acceptation above it (3444) is needed. If obtained, we could aim at 3484 old pit poor high. If not we could close in balance or even liquidate again.

Remember that, structurally, the last accepted level is now 34295. Consider this while placing or moving your stops.

*take note not only of acceptation above or below a particular level, but also of the way it has been eventually obtained. This could be a very important for what could happen next. As a weak action could be retraced easier than a strong one, for instance.
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  • #5,780
  • Dec 15, 2017 1:14am Dec 15, 2017 1:14am
Yesterday the market provided us the 2 most important levels for the pit session that have been respected even during overnight, leaving upside a bunch of poor highs (pit and Tokyo) just above 3444. We are now clearly in balance and GB opened inside yesterday GB session range, so I suggest to be prudent initially as this could underline acceptation of yesterday GB range values.

Wait for some clear signal from market and do not overtrade is my suggestion for now.
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