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Lock's Cable Corner

  • #6,321
  • Feb 6, 2020 6:55am Feb 6, 2020 6:55am
For upcoming US session note that 2972 is PIT November inside month high while 2975 is January PIT inside month low: both are go-no go levels.
Acceptation below them could mean a new attempted break downside towards NOV low. Acceptation above them could mean a complete retracement of January inside month up to 3210.
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  • #6,322
  • Feb 6, 2020 7:24am Feb 6, 2020 7:24am
2956 yesterday pit low: we need acceptation below it for any meaningful continuation downside.
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  • #6,323
  • Feb 6, 2020 8:30am Feb 6, 2020 8:30am
Pit session opened inside yesterday pit session range, but around its lower extreme. The main refs are the same:
yes low 2956
Jan low 2975
Nov high 2972
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  • #6,324
  • Feb 6, 2020 8:33am Feb 6, 2020 8:33am
BTW yesterday pit high is a poor one 3010. But clearly the main decisions should be taken in relation to the major refs 2972 - 2975
Acceptation above or below them
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  • #6,325
  • Feb 6, 2020 8:58am Feb 6, 2020 8:58am
Quoting Lock
Pit session opened inside yesterday pit session range, but around its lower extreme. The main refs are the same: yes low 2956 Jan low 2975 Nov high 2972
Testing yes low 2956: if accepted below it we could have 2914 12_ PIT PL as a first step. If rejected below 2956 we could imagine a new test of 2972-75 as a first step.
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  • #6,326
  • Feb 6, 2020 9:32am Feb 6, 2020 9:32am
2942 is the last inside week high from November before the major rally upside: acceptation below it needed for continuation downside. Note acceptation below all the previous major refs, plus below yesterday pit low. Plus new poor low.
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  • #6,327
  • Feb 6, 2020 9:59am Feb 6, 2020 9:59am
How market generated information works (the potential target is only a possibility, generally it is better to scale down something of a position as far as we get close to its target):
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-06_7-52-32-PIT.png Size: 47 KB
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  • #6,328
  • Feb 6, 2020 10:03am Feb 6, 2020 10:03am
Btw 2922 is GB December low, so, even if it is not a pit ref, acceptation below it is clearly needed for any continuation downside.
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  • #6,329
  • Edited 12:45pm Feb 6, 2020 12:24pm | Edited 12:45pm
Quoting Lock
2942 is the last inside week high from November before the major rally upside: acceptation below it needed for continuation downside. Note acceptation below all the previous major refs, plus below yesterday pit low. Plus new poor low.
Quoting Lock
Btw 2922 is GB December low, so, even if it is not a pit ref, acceptation below it is clearly needed for any continuation downside.
So price went in balance between these significant levels: note anyhow that we now have an other poor low (2922) only some pips above 12_24 poor low at 2914.
Then we got a US poor low at 29045 , a GB poor low at 28957, an other US poor low at 2882 , the pit poor low of 11_27 at 2865 and finally, not so far below it, the 11_22 PIT poor low of November month at 2823.
If the break below Pit January inside month low 2975 will be confirmed (tomorrow?) this substantial and really impressive sequence of very weak levels could be eventually corrected.
Remember furthermore that if price will be confirmed and definitely accepted below November 2019 inside month high 2972, for the balance's rules we could aim at the opposite side of that month, meaning 27687.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-06_10-29-34-PIT.png Size: 38 KB


Monthly PIT situation (IPO A):
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-06_10-34-54-monthly.png Size: 35 KB

Monthly PIT situation (IPO B):
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-06_10-40-09-Monthly-b.png Size: 41 KB
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  • #6,330
  • Feb 7, 2020 1:38am Feb 7, 2020 1:38am
GB most important references are:

  1. November (2019) GB inside month high 2985
  2. January GB inside month low 2954
  3. yesterday GB close 2931
  4. December GB low 2922

For continuation downside we need acceptation below all of these references: and in case of continuation downside we have as a first test to perform 2898 the last GB inside week of November 2019 before the big rally. below it as a possible target we got 12_02 GB poor low at 28957.

In case of rejection below 2922, 2931 , 2954 , 2985 and acceptation above them we could imagine a complete correction of January inside month and as a first step, the filling of the double pass gap at 3025-30335

Note that we are inside GB NOV 2019 inside month: it's upper extreme is 2985: so both 2985 (NOV 19 high) and 2954 (Jan 20 low) are go-no go levels for GB

Attached Image
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  • #6,331
  • Feb 7, 2020 1:58am Feb 7, 2020 1:58am
GB is going to open with a new gap downside from yesterday low 2952
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  • #6,332
  • Feb 7, 2020 2:40am Feb 7, 2020 2:40am
3025-30335 is a triple pass gap not double
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  • #6,333
  • Feb 7, 2020 2:44am Feb 7, 2020 2:44am
Quoting Lock
3025-30335 is a triple pass gap not double
how about view gbpaud lock?
  • #6,334
  • Feb 7, 2020 7:05am Feb 7, 2020 7:05am
Quoting thisara1
{quote} how about view gbpaud lock?
I operate only on cable: clearly I'm aware of other instruments and I do not trade in a vacuum. But I like to focus on a single market at a time. The only thing I constantly consider is USDX. Have a nice trading. Best Regards
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  • #6,335
  • Feb 7, 2020 7:07am Feb 7, 2020 7:07am
See previous post about PIT and US sessions for any consideration about them: nothing changed from yesterday.
Yesterday Pit unch is at 29275
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  • #6,336
  • Feb 7, 2020 8:03am Feb 7, 2020 8:03am
Quoting Lock
See previous post about PIT and US sessions for any consideration about them: nothing changed from yesterday. Yesterday Pit unch is at 29275
Here we are: we need acceptation below it for any meaningful continuation downside. If not a new test of major refs 2972-75 is possible. If acceptation we could aim at the major weaknesses downside (see yesterday post about pit situation).
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  • #6,337
  • Feb 7, 2020 10:39am Feb 7, 2020 10:39am
Now we need acceptation below PIT December low 2909 for any continuation downside (possible target if acceptation: 28957, 2883, 2865)
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  • #6,338
  • Feb 7, 2020 12:02pm Feb 7, 2020 12:02pm
G inside period: balance rules apply. Watch out.
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  • #6,339
  • Feb 8, 2020 8:46am Feb 8, 2020 8:46am
Hey Lock
What is this green bar indicator ? volume profile?
https://www.forexfactory.com/attachm...1&d=1581004639
  • #6,340
  • Feb 9, 2020 3:51am Feb 9, 2020 3:51am
Quoting YYZ
Hey Lock What is this green bar indicator ? volume profile? {image}
Yes is a very common volume profile.
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