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Lock's Cable Corner

  • #5,961
  • Jan 19, 2018 3:27am Jan 19, 2018 3:27am
39425 current 2018 pit high: obviously acceptation above it is needed for continuation upside. If not...
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  • #5,962
  • Jan 19, 2018 3:36am Jan 19, 2018 3:36am
New GB gap upside preserved! (see previous posts)
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  • #5,963
  • Jan 19, 2018 3:39am Jan 19, 2018 3:39am
Quoting Lock
39425 current 2018 pit high: obviously acceptation above it is needed for continuation upside. If not...
Here we are testing it. Let's see. For now we preserved the new GB gap upside. If we will get acceptation above 39425 we could continue higher or eventually remain in balance right here around composite poc 3932. If we will not see acceptation above 39425 we could experience a new attempt downside.
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  • #5,964
  • Jan 19, 2018 3:57am Jan 19, 2018 3:57am
Quoting Lock
39425 current 2018 pit high: obviously acceptation above it is needed for continuation upside. If not...
Quoting Lock
{quote} Here we are testing it. Let's see. For now we preserved the new GB gap upside. If we will get acceptation above 39425 we could continue higher or eventually remain in balance right here around composite poc 3932. If we will not see acceptation above 39425 we could experience a new attempt downside.
And here you have an other attempt downside (after the lack of acceptation above 39425). Note that GB is currently balancing around our major yearly level and I see (as everybody else here) a lot of shakeout to remove weak hands from this game. A game that is very interesting, potentially, as from here we could liquidate heavily or, at the opposite we could continue to fill the huge brexit gap downside. SO do not be mesmerized by price action and try to correctly evaluate market generated information.
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  • #5,965
  • Jan 19, 2018 4:03am Jan 19, 2018 4:03am
In order to get any chance to continue seriously lower this new attempt downside has to perform the following tasks:

  1. fill the new GB gap upside from yesterday GB high 38905
  2. obtain acceptation below 38905
  3. obtain acceptation below yesterday GB close 38875 (current 2018 highest GB close)
  4. accelerate after that acceptation.

Again, if not, as we are in rotational environment, watch out for a new shake out attempting upside.

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  • #5,966
  • Jan 19, 2018 4:32am Jan 19, 2018 4:32am
E inside period of D: balance rules apply.
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  • #5,967
  • Jan 19, 2018 4:55am Jan 19, 2018 4:55am
Quoting Lock
E inside period of D: balance rules apply.
What does this mean? i am a newbie so didnt understand what it meant. Do you expect within the next 30 or 40 days, cable to come at 1.33 levels again?
  • #5,968
  • Jan 19, 2018 5:35am Jan 19, 2018 5:35am
Quoting Lock
In order to get any chance to continue seriously lower this new attempt downside has to perform the following tasks: fill the new GB gap upside from yesterday GB high 38905 obtain acceptation below 38905 obtain acceptation below yesterday GB close 38875 (current 2018 highest GB close) accelerate after that acceptation. Again, if not, as we are in rotational environment, watch out for a new shake out attempting upside.
Quoting Lock
E inside period of D: balance rules apply.
From m30 balance (E inside period of D) we got a breakout and so here we are: gap filled to 38905 and price below 38875: now for any serious continuation downside we need acceptation below both of them and acceleration below 38875...


And it looks like we are having the acceleration below 38875...
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  • #5,969
  • Jan 19, 2018 5:37am Jan 19, 2018 5:37am
Quoting honesttrader
{quote} What does this mean? i am a newbie so didnt understand what it meant. Do you expect within the next 30 or 40 days, cable to come at 1.33 levels again?
A newbie has to read as much as he can of the content of the thread if he want to follow it.
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  • #5,970
  • Jan 19, 2018 5:41am Jan 19, 2018 5:41am
Next visible levels downside (in case of acceptation below both 38905 and 38875) are 38355, 38428 and 3853, obviously.

And yesterday GB spike base right between them at 38463.

Then and only then (if we got acceptation below those major very important levels) we could take out Yesterday GB poor low at 38205.

Current low tagging yesterday pit poor low at 3864 is clearly weak.
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  • #5,971
  • Jan 19, 2018 5:55am Jan 19, 2018 5:55am
Quoting honesttrader
{quote} What does this mean? i am a newbie so didnt understand what it meant. Do you expect within the next 30 or 40 days, cable to come at 1.33 levels again?


So, just for recap: balance is one of the most important factor of a market. Price went from trend to balance and then to balance again generally. Balance could develop in any timeframe. Here we are considering a balance in m30 periods chart. You see that period E (the m30 period started at 11:00+1GMT) extended its range only to remain "inside" the range of the previous m30 period: this technically is a balance. So from a balance you could wait for some different things:

  1. remain in balance for a while.
  2. attempt downside and fail: in which case odds are in favor to a correction to the opposite side of the balance.
  3. attempt downside and accelerate, in which case the odds are in favor for the start of a new trend downside oriented to find a new place to start a new balance.
  4. obviously the same could be said for a possible attempt upside.

Now these are the balance rules: go with any attempted breakout and monitor for continuation or rejection in the direction of the break. If you see no acceptation below breakeven then start to think to a reverse to the opposite side of the balance and, eventually, to a possible break in that direction as now market has already tested downside and so market participants could be more convinced about general market conviction in the opposite direction.

Obviously these rules are to be put in the variable context: If you have other reasons to break in a particular direction (like in this case a lot of weaknesses left downside by previous days action upside and also by the fact that price failed to get acceptation above previous 2018 high) then you could add these information to your analysis and be prepared to profit from a possible succesful outcome of a particular attempted break.

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  • #5,972
  • Jan 19, 2018 6:00am Jan 19, 2018 6:00am
Quoting Lock
{quote} {quote} From m30 balance (E inside period of D) we got a breakout and so here we are: gap filled to 38905 and price below 38875: now for any serious continuation downside we need acceptation below both of them and acceleration below 38875... And it looks like we are having the acceleration below 38875...
Retesting 38875 from below: remember that we need acceptation below it.
Acceptation means at least a couple of m30 period closed below or above a certain level.
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  • #5,973
  • Jan 19, 2018 6:49am Jan 19, 2018 6:49am
Quoting Lock
{quote} Retesting 38875 from below: remember that we need acceptation below it. Acceptation means at least a couple of m30 period closed below or above a certain level.
As you see it failed to go above 38875 (at the pip) and reverse to take care of the poor week low 3864. Now preUS is going to open: so consider the stepping in of new market participants.
It could continue lower but now it has to get acceptation below different values (related also to US activity) and they are:

  1. 3864 yesterday pit poor low.
  2. 38925 yesterday pit unch level (highes pit close for current year)
  3. 3853 that is the 2016 pit major bracket low.
  4. 38428 that is the 2016 preUS major bracket low.
  5. and finally 38355 that is 2016 GB major bracket low.

If all these prerequisite will obtained then we could aim to 38205 GB poor low, 3805 Tokyo/Sydney poor lows and 37925 pit poor low.

If not, meaning if we will not get these confirmations, a new test of 2018 pit current high 39425 is more than possible.

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  • #5,974
  • Jan 19, 2018 6:52am Jan 19, 2018 6:52am
Yes we've got that acceleration below 87 while retesting it and staying below it (it held). This is brain surgery applied to trading. Was a nice trade but I just saw it now.
  • #5,975
  • Jan 19, 2018 6:54am Jan 19, 2018 6:54am
Quoting honesttrader
{quote} What does this mean? i am a newbie so didnt understand what it meant. Do you expect within the next 30 or 40 days, cable to come at 1.33 levels again?
Now, before a new possible question about what I'm writing here. Have a read to this post. It could be helpful to start.

PS: I see the market profile manual from cme is no longer available. Then try here.
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  • #5,976
  • Jan 19, 2018 7:58am Jan 19, 2018 7:58am
weak low
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  • #5,977
  • Jan 19, 2018 7:59am Jan 19, 2018 7:59am
testing 3853.
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  • #5,978
  • Jan 19, 2018 8:13am Jan 19, 2018 8:13am
From here we could (even) liquidate the entire week down to 3729 or (if we will not get acceptation below 3853, 38428 and 38355) we could retrace upside to retest 2018 high.39425-45
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  • #5,979
  • Jan 19, 2018 8:24am Jan 19, 2018 8:24am
Hi, love your thread. I'm curious if you have ever talked about entry techniques using market generated information?
  • #5,980
  • Jan 19, 2018 8:27am Jan 19, 2018 8:27am
Yesterday pit session range is an inside one. Meaning balance. Then any attempt by upcoming pit session participants above or below its extremes (3864-3913) will be a potential breakout from balance. Go with the break if any and monitor for continuation. Balance rules apply.
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