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Lock's Cable Corner

  • #5,901
  • Dec 21, 2017 2:23pm Dec 21, 2017 2:23pm
Quoting Lock
{quote} So we got acceptation above 33714 and here we are just below 3387 GB poor high. Note anyhow that at 3388 we have yesterday pit spike downside base and considering the very weak environment in which we are it could work as resistance. In any case, for any continuation upside we will need acceptation above it. Note also that we are very late in the session.
3387 tagged: now it is very weak. In case of acceptation above 3388 we could continue higher as written previously in which case next visible level is yesterday pit high 3320 just above previous pit poor high 34182.

In case of rejection above 3388 we could imagine some sort of liquidation of weak buyers, in which case the daily poc is around 3362.

In any case I'm off. Have a nice continuation. Best, L.
Ubi maior minor cessat
  • #5,902
  • Dec 22, 2017 5:33am Dec 22, 2017 5:33am
33652 GB inside month high is most important level for current Gb session: monitor for acceptation or rrjection below it. And act accordingly.
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  • #5,903
  • Dec 22, 2017 6:04am Dec 22, 2017 6:04am
Quoting Lock
33652 GB inside month high is most important level for current Gb session: monitor for acceptation or rrjection below it. And act accordingly.
Clear rejection below 33652 then rally upside. Now we got an inside period: balance rules apply.
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  • #5,904
  • Dec 22, 2017 8:17am Dec 22, 2017 8:17am
Quoting Lock
{quote} 3387 tagged: now it is very weak. In case of acceptation above 3388 we could continue higher as written previously in which case next visible level is yesterday pit high 3320 just above previous pit poor high 34182. In case of rejection above 3388 we could imagine some sort of liquidation of weak buyers, in which case the daily poc is around 3362. In any case I'm off. Have a nice continuation. Best, L.
As we are exactly where we were yesterday at the end of pit session what I wrote yesterday is valid also today. Pit session opens in less than 15 minute.
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  • #5,905
  • Dec 22, 2017 8:19am Dec 22, 2017 8:19am
PS: after pit open monitor for acceptation or rejection above and below yesterday pit poor high 33875 and yesterday pit unch level (daily close) at 33843. Any continuation upside need in fact acceptation above these levels as any liquidation need acceptation below them.
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  • #5,906
  • Dec 22, 2017 12:52pm Dec 22, 2017 12:52pm
Dear Lock, although I don't post in your thread often, I always find your analysis very enlightening. Thank you.

And oh, Merry Christmas.
  • #5,907
  • Dec 24, 2017 1:18am Dec 24, 2017 1:18am
Quoting MoneyFocus
Dear Lock, although I don't post in your thread often, I always find your analysis very enlightening. Thank you. And oh, Merry Christmas.
You're welcome MoneyFocus and Merry Christmas & happy new year too. Best, L.
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  • #5,908
  • Dec 24, 2017 8:10am Dec 24, 2017 8:10am
Attached Image
Success is a Journey Not a Destination....... kind regards ramzam
  • #5,909
  • Jan 12, 2018 8:35am Jan 12, 2018 8:35am
Huge pit gap upside from yesterday pit high 35555 and currently testing brexit close 36767 (for now we got a perfect tag of it.)
Highest high of last year is at 36517. So 36767 and 36517 are the most important levels for current pit session.

So any serious continuation upside will be based upon the following prerequisites:

  1. acceptation above 36767 and 36517.
  2. preservation of the new pit gap upside from 35555.

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  • #5,910
  • Jan 12, 2018 8:40am Jan 12, 2018 8:40am
Quoting Lock
Huge pit gap upside from yesterday pit high 35555 and currently testing brexit close 36767 (for now we got a perfect tag of it.) Highest high of last year is at 36517. So 36767 and 36517 are the most important levels for current pit session. So any serious continuation upside will be based upon the following prerequisites: acceptation above 36767 and 36517. preservation of the new pit gap upside from 35555.
welcome back lock
miss ur post
just for a cup of coffee...
  • #5,911
  • Jan 12, 2018 8:42am Jan 12, 2018 8:42am
Quoting akim0895
{quote} welcome back lock miss ur post
Welcome back too akim! I'm not fully in btw so I'll be present here sporadically at least for the next days.
Best, L.
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  • #5,912
  • Jan 15, 2018 8:24am Jan 15, 2018 8:24am
Building new pit gap upside. It will be like yesterday: for any serious continuation upside monitor for preservation of the new possible pit gap upside from yesterday pit high 3744. Next visible level upside is 2016 02 29 GB major bracket low at 38355 (just below the huge pit gap downside 38375-47397 made during brexit)

Btw we are leaving downside some important weaknesses like Tokyo PL 3729 and specially 3663 pit poor low: if something will go wrong upside consider them as potential targets. For now they are protected by a series of new gaps upside.

PS: remember that today is US bank holiday, so we have only weak hands involved for sure during upcoming pit session.
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  • #5,913
  • Jan 15, 2018 8:32am Jan 15, 2018 8:32am
Note that GB (current year high) at 38195 is poor too: carry forward this info.
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  • #5,914
  • Jan 17, 2018 1:51am Jan 17, 2018 1:51am
Quoting Lock
Building new pit gap upside. It will be like yesterday: for any serious continuation upside monitor for preservation of the new possible pit gap upside from yesterday pit high 3744. Next visible level upside is 2016 02 29 GB major bracket low at 38355 (just below the huge pit gap downside 38375-47397 made during brexit) Btw we are leaving downside some important weaknesses like Tokyo PL 3729 and specially 3663 pit poor low: if something will go wrong upside consider them as potential...
So after one day and multiple sessions in balance up and down, eventually Tokyo tonight managed to test the main level upside, meaning 38355 (tagged at the pip). And after that it heavily liquidated. Now we have to see if this overnight test will be enough for other market participants (GB and Pit) or if they will need further independent tests of it.

It's worth to note that yesterday GB session has been an inside one of the previous GB Monday range: yesterday GB range 37413-37955 while Monday GB range was 3732-38195. This means that any attempt above or below 37413-37955 made by upcoming GB session has to be considered an attempted breakout from balance and consequently in such a case balance rules will apply.
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  • #5,915
  • Jan 17, 2018 4:38am Jan 17, 2018 4:38am
Looks like a breakout of 3795...
TULKAS
  • #5,916
  • Jan 17, 2018 6:44am Jan 17, 2018 6:44am
Quoting Tulkas
Looks like a breakout of 3795...
Yes and for now it failed above it. Also note that GB was not able to get acceptation above current year highest GB close at 38035.
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  • #5,917
  • Jan 17, 2018 6:51am Jan 17, 2018 6:51am
Now I suggest to wait for preUS and pit sessions in order to evaluate US participants reaction to current environment, noting that we have a pit poor high at 3799 and a cluster at yesterday pit half back around 3763. Plus the old remaining pit gap upside at 3744-37493.

Note also that price is balancing around composite poc 3793.

About preUS and Pit the main level to consider will be the current yearly pit highest close at 3791: monitor for acceptation above or below it after pit open.
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  • #5,918
  • Jan 17, 2018 10:05am Jan 17, 2018 10:05am
Quoting Lock
{quote} So after one day and multiple sessions in balance up and down, eventually Tokyo tonight managed to test the main level upside, meaning 38355 (tagged at the pip). And after that it heavily liquidated. Now we have to see if this overnight test will be enough for other market participants (GB and Pit) or if they will need further independent tests of it. ....
Quoting Lock
Now I suggest to wait for preUS and pit sessions in order to evaluate US participants reaction to current environment, noting that we have a pit poor high at 3799 and a cluster at yesterday pit half back around 3763. Plus the old remaining pit gap upside at 3744-37493.
Quoting Lock
Note also that price is balancing around composite poc 3793. About preUS and Pit the main level to consider will be the current yearly pit highest close at 3791: monitor for acceptation above or below it after pit open.
So pit session opened above 3791 and obtained in its first 2 periods acceptation above it. And as you see the session oriented towards upside direction. Doing so it removed the pit poor high left yesterday at 3799 and went upside in order to retest 38355, already tested by overnight Tokyo session.

Now, current high is weak as it is a perfect tag of the lower extreme of the huge pit gap downside made during brexit break plus it is poor. So I think it has to be revisited.
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  • #5,919
  • Jan 17, 2018 10:11am Jan 17, 2018 10:11am
Remember that for any serious continuation upside pit session must obtain as a prerequisite acceptation above 38355. If not take note of the fact that the last days action (including today) left downside a substantial amount of serious weaknesses like current pit poor low at 37925, yesterday pit cluster at 3763 and Tokyo poor low at 3729.

If we will see acceptation above 38355 we could start to see the filling of the huge brexit gap towards 47397
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  • #5,920
  • Jan 17, 2018 10:14am Jan 17, 2018 10:14am
38428 is the 2016 pit year low before brexit break (it is the lowest extreme of the 2016 major pit bracket): so acceptation is obviously needed also above it for continuation upside.
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