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Attachments: Lock's Cable Corner
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Lock's Cable Corner

There have been some really fascinating movements in the GBP/USD lately... Missing your insight! Hope all is well.
TULKAS
Quoting Tulkas
There have been some really fascinating movements in the GBP/USD lately... Missing your insight! Hope all is well.
You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation downside scenario.

At the same time we went downside in the last days in a very sharp and abrupt mode, leaving upside multiple anomalies: so a second scenario could be to correct some of these in order to continue lower after the correction (to next upper composite poc 4064 ?).

The third scenario is to see an other day of rotation around current pole of attraction 3966.
Ubi maior minor cessat
wellcome back mate..
miss ur writing
just for a cup of coffee...
Quoting Lock
{quote} You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation downside scenario. At the same time we went downside in the last days in a very sharp and abrupt mode, leaving upside multiple anomalies: so a second scenario could...
thanks it been long i hope all is well with you(miss all the nice stuff you have been doing please do not give up)
Quoting Lock
{quote} You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation downside scenario. At the same time we went downside in the last days in a very sharp and abrupt mode, leaving upside multiple anomalies: so a second scenario could...
thanks lock for the analysis. was looking for something similar. 4075 was on my minds if 4005 followed by 4030 is crossed. I am no longer bearish on this pair
Quoting Lock
{quote} You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation downside scenario. At the same time we went downside in the last days in a very sharp and abrupt mode, leaving upside multiple...

NO way upside in this manner: it has to remove 39335 at least before. These 2 new back to back poor lows cannot remain in place.
Ubi maior minor cessat
Quoting Lock
{quote} NO way upside in this manner: it has to remove 39335 at least before. These 2 new back to back poor lows cannot remain in place.
I do not want to mislead anyone here: I'm not saying it has nothing to do upside (as in fact it has a lot to do at least up to 4088). What I'm saying is that nothing serious can happen upside before the taking out of such a cluster of poor lows. If it will spike upside for whatever reason without this correction (and I'm betting against this possibility), register this info as odds will be absolutely in favor to a re test of this level.
Ubi maior minor cessat
Quoting Lock
{quote} NO way upside in this manner: it has to remove 39335 at least before. These 2 new back to back poor lows cannot remain in place.
...and here we are at it: 39335 taken out.
Ubi maior minor cessat
Quoting Lock
{quote} You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation downside scenario. At the same time we went downside in the last days in a very sharp and abrupt mode, leaving upside multiple anomalies: so a second scenario could...
Now watch out: price could continue lower to correct also the 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB) or make a short covering before to attempt downside again. Note that as written we are leaving upside a mess of weaknesses. So monitor carefully the situation and be prepared (for both scenarios).
Ubi maior minor cessat
Quoting Lock
{quote} Now watch out: price could continue lower to correct also the 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB) or make a short covering before to attempt downside again. Note that as written we are leaving upside a mess of weaknesses. So monitor carefully the situation and be prepared (for both scenarios).
So in this case the second scenario was correct: after the correction of 39335 it made a short covering and then attempted again downside. Note that J period tagged the early "morning" low made by C period and consequently we now have a poor low there (3924) that has to be added to the previous 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB)

Also note that 3924 is almost a perfect tag of Monday pit low at 34253.

Have a nice continuation. Best, L.
Ubi maior minor cessat
Quoting Lock
{quote} You're very kind. Thank you. And I agree about the fascination of current market. Right now we left downside 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB). Price is around the attracting major composite poc 3966 and the closest major composite poc downside is just some pips below our poor lows (3896): so all these info could underline a possible continuation[/highlight]...
Quoting Lock
{quote} So in this case the second scenario was correct: after the correction of 39335 it made a short covering and then attempted again downside. Note that J period tagged the early "morning" low made by C period and consequently we now have a poor low there (3924) that has to be added to the previous 3 back to back poor lows at 39125, 3918 (both Tokyo) and 3919(GB)[/highlight]...
All taken out, then short covering. Note the almost perfect tag of lower major composite poc 3896 before correction upside.
Ubi maior minor cessat
Now here we have 2 main scenarios:

  1. the first one will see a possible continuation upside towards 4088 zone and the upper composite poc 4064.
  2. in the second one we could see the nearest comp poc 3966 attract again price action in a rotation mode.


In order to evaluate odds I suggest to wait for pit open (in the next 10 minutes) as currently we are above yesterday pit high 3956 (so there is the possibility for a new pit gap upside): if price will remain above 3956 odds will be in favor for an upside continuation. At the opposite in case of no gap or gap filling we could imagine odds in favor to a rotation environment around 3966.

Ubi maior minor cessat
Hi mr Lock, sorry if its a rookie question but how do you know when is the pit trading hours? What are the times the pits start and ends?
Quoting Lock
Now here we have 2 main scenarios: the first one will see a possible continuation upside towards 4088 zone and the upper composite poc 4064. in the second one we could see the nearest comp poc 3966 attract again price action in a rotation mode. In order to evaluate odds I suggest to wait for pit open (in the next 10 minutes)
Quoting Lock
as currently we are above yesterday pit high 3956 (so there is the possibility for a new pit gap upside): if price will remain above 3956 odds will be in favor for an upside continuation. At the opposite in case of no gap or gap filling we could imagine odds in favor to a rotation environment around 3966.
New pit gap upside filled down to 3956. Now we could have rotation around 3966 or, in case of acceptation below 3956 we could even see a full correction of this morning action upside. At least down to yesterday pit poor low 3922
Ubi maior minor cessat
I suggest to monitor US index too. As it is rallying.
Ubi maior minor cessat
Quoting Lock
{quote} {quote} New pit gap upside filled down to 3956. Now we could have rotation around 3966 or, in case of acceptation below 3956 we could even see a full correction of this morning action upside. At least down to yesterday pit poor low 3922
Acceptation below 3956 and here we are at 3922 yesterday pit poor low: now watch out! In case of further acceptation even below it we could see something serious downside. In case of rejection below it, odds will be in favor to a rotation towards 3966 composite poc.
Ubi maior minor cessat
Hi group,
I'm having an issue with the profile - the current TPO is not printing as it should. It is printing on the Profile but not on the split.

On my screenshot attached we are printing D period, but D is not showing on the split.

Can anyone suggest a fix? thanks in advance

Attached Image
It should be noted that we got a PIT monthly poor low (01/13) at 2975 tagged yesterday. Below it we got an US poor low at 2972. Also in that zone 2970-2975 we got a triple pass PIT gap surviving from 19.12.03.
Then today for now we have an inside PIT session with a new poor low at 29995 and below it we got an US poor low at 29894.

All this in a very small range.
Finally note that 2972 is November PIT inside month high: Go/no Go level

At the opposite we have a cluster of poor high around 3027-3032 and then an other cluster around 3065-3068.
And then we got a multiple tag GB+PIT+US highs at 3106.

So, considering the current situation and considering the fact that we are in one time framing higher monthly trend we could imagine different scenarios:

  1. a first correction around 3027-3032 and then a test of 2972.
  2. a more prolonged correction up to 3065-3068 and then a test of 2972.
  3. a first test of 2972 and then up to 3027-3032.
  4. a first test of 2972 with interruption of monthly one time framing higher (meaning successful break downside) In this case we will have to wait for a correction upside.

In any case I consider very improbable to skip those macro weaknesses above and below and consequently I consider probable a correction of both.

Attached Image (click to enlarge)
Click to Enlarge Name: 2020_01_29.PNG Size: 79 KB
Ubi maior minor cessat
I said three Hail Mary's when I saw this post! You're back! Bienvenuti, Amici
TULKAS
Quoting Tulkas
I said three Hail Mary's when I saw this post! You're back! Bienvenuti, Amici
Many thanks! I'll be here sporadically at least for now. See you soon and have a nice trading.

....EDIT to add:

I forgot to mention that in case of a first correction upside above the cluster 3065-3068 we also have a PIT poor high at 3146 and then finally a 4 PASS PIT gap at 3194-3200

Now if a gap 3 pass like the one at 2970-2975 is very rare a 4 pass gap is extraordinary rare: this means that in my opinion both of them got to be filled during a pit session before or after but it will be almost impossible to leave that gap upside, in my experience at least. So take note of this consideration because in case of a first correction upside I will not be so impressed if we will see a full correction of that gap (3194-3200) before to come down again to correct the one below (3065-3068)

Clearly it would be nice to see a more easy scenario where the closest gap downside will be corrected firstly and then the upper one will be corrected after. And this is the reason why I consider a scenario in which the correction upside could stop at 3027-3032 or 3065-3068 (or even 3106) then retrace back to remove 2970-2975 and then back again upside to finally remove 3194-3200 (see previous post)
Ubi maior minor cessat
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