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Lock's Cable Corner

  • #6,361
  • Feb 12, 2020 1:22pm Feb 12, 2020 1:22pm
Some further considerations here:

  1. Current February month has a poor high, made by Sydney at 31845: it is pretty rare to see a so weak month high preserved for a long time. It could be but it is rare.
  2. During this month we left upside a substantial amount of weaknesses and gaps made both by GB and Pit sessions.
  3. Today GB session failed above GB November 19 high 2985 but built its entire value above January breakeven (2954).

Now, it is true that we got numerous weaknesses to correct downside and that current Pit session failed above 2972-75 but we are in cable and Pit session is maybe not the strongest portion of this market: so watch out and take all these information in your scenarios.

Ubi maior minor cessat
  • #6,362
  • Feb 13, 2020 1:28am Feb 13, 2020 1:28am
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763
Monitor for acceptation above or below them. See previous posts.
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  • #6,363
  • Feb 13, 2020 1:53am Feb 13, 2020 1:53am
Most of the people make this thread funny by posting funny things. But it us very useful information for any traders.
  • #6,364
  • Feb 13, 2020 2:04am Feb 13, 2020 2:04am
Quoting Lock
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763 Monitor for acceptation above or below them. See previous posts.
2985 GB Nov 19 high tagged
Ubi maior minor cessat
  • #6,365
  • Feb 13, 2020 2:07am Feb 13, 2020 2:07am
Quoting Lock
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763 Monitor for acceptation above or below them. See previous posts.
Testing yes Gb close 29763.
Ubi maior minor cessat
  • #6,366
  • Feb 13, 2020 3:10am Feb 13, 2020 3:10am
Quoting Lock
{quote} 2985 GB Nov 19 high tagged
It failed the first test of 2985. Note that we are inside yesterday GB session: balance rules apply.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-13_1-07-18_GB inside.png Size: 27 KB
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  • #6,367
  • Feb 13, 2020 3:23am Feb 13, 2020 3:23am
Quoting Lock
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763 Monitor for acceptation above or below them. See previous posts.
Note price action exactly from 2985 to 2954: now testing this last one. Monitor carefully for continuation or rejection here.
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  • #6,368
  • Feb 13, 2020 3:24am Feb 13, 2020 3:24am
Quoting Lock
{quote} It failed the first test of 2985. Note that we are inside yesterday GB session: balance rules apply. {image}
Testing also yesterday GB session lower extreme: remember balance rules.
Ubi maior minor cessat
  • #6,369
  • Feb 13, 2020 3:32am Feb 13, 2020 3:32am
Quoting Lock
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763 Monitor for acceptation above or below them. See previous posts.
Failure at 2985 and all the way back exactly to 29763, yesterday GB close level.
Ubi maior minor cessat
  • #6,370
  • Feb 13, 2020 3:33am Feb 13, 2020 3:33am
Quoting Robertstarc
Most of the people make this thread funny by posting funny things. But it us very useful information for any traders.
The only funny things are probably their accounts.
Ubi maior minor cessat
  • #6,371
  • Feb 13, 2020 4:21am Feb 13, 2020 4:21am
Quoting Lock
Main refs obviously 2954 Jan GB low and 2985 Nov 19 GB high. Plus yesterday GB close 29763 Monitor for acceptation above or below them. See previous posts.
Retesting 2985. But now we have a poor high (double tag of 2985)

Note also that 2985 is not only January GB inside month low (major reference for GB) but is also yesterday GB session unch level. So it is very suspect to have a poor high at a very exact daily reference.
Ubi maior minor cessat
  • #6,372
  • Feb 13, 2020 4:32am Feb 13, 2020 4:32am
I want to share with you a clear mistake I just made. When I saw a clear rejection below yesterday GB session low and a clear failure to test below 2954 I immediately closed my short but I hesitated for too much to open a long position.

When I finally opened it I was forced to place my stop too far from the entry because the only safe position for it was below the major reference 2954 and below yesterday GB session low.

So it could be profitable anyway, considering the situation but this is a textbook error about how to place a position: so take note of it.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-13_2-23-49_GB ERROR Long.png Size: 44 KB
Ubi maior minor cessat
  • #6,373
  • Feb 13, 2020 5:10am Feb 13, 2020 5:10am
Quoting Lock
{quote} It failed the first test of 2985. Note that we are inside yesterday GB session: balance rules apply. {image}
Balance rules applied. It tried below yesterday GB session range (the balance), it failed and here we are at the opposite side of the balance.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-13_3-05-38_GB Balance rules Applied.png Size: 38 KB
Ubi maior minor cessat
  • #6,374
  • Feb 13, 2020 5:13am Feb 13, 2020 5:13am
Now monitor for acceptation above yesterday GB close level 29763 and above 2985
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  • #6,375
  • Feb 13, 2020 6:01am Feb 13, 2020 6:01am
Quoting Lock
Now monitor for acceptation above yesterday GB close level 29763 and above 2985
Note how crucial it was and is 2985...
Ubi maior minor cessat
  • #6,376
  • Feb 13, 2020 6:21am Feb 13, 2020 6:21am
Now, even though the hunting spike downside didn't took my stop out (as it was far below it), when I saw the attempted break below the minor balance I closed my long. And I reopend it when I saw a triple tag (very poor high) and clear acceptation above yesterday Gb close level 29763
And this position level, what ever the result, is at least a correct one because I had a good place to put my stop (just below the minor balance)
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-13_4-13-49_GB correct position.png Size: 38 KB
Ubi maior minor cessat
  • #6,377
  • Feb 13, 2020 6:27am Feb 13, 2020 6:27am
Quoting Lock
Now, even though the hunting spike downside didn't took my stop out (as it was far below it), when I saw the attempted break below the minor balance I closed my long. And I reopend it when I saw a triple tag (very poor high) and clear acceptation above yesterday Gb close level 29763 And this position level, what ever the result, is at least a correct one because I had a good place to put my stop (just below the minor balance) {image}
Btw I'm not referring to the first long I opened when it failed below yesterday GB balance: that one was already closed. I (very risky) opened an other one when I saw the poor high at the top of GB session. This new long was extremely risky as it was even higher than the previous one: and the stop was again far below it.
Ubi maior minor cessat
  • #6,378
  • Feb 13, 2020 6:37am Feb 13, 2020 6:37am
Top of the triple pass GB gap is 30335
Ubi maior minor cessat
  • #6,379
  • Feb 13, 2020 6:40am Feb 13, 2020 6:40am
This is what I was writing yesterday:

Quoting Lock
Some further considerations here: Current February month has a poor high, made by Sydney at 31845: it is pretty rare to see a so weak month high preserved for a long time. It could be but it is rare. During this month we left upside a substantial amount of weaknesses and gaps made both by GB and Pit sessions.
Quoting Lock
Today GB session failed above GB November 19 high 2985 but built its entire value above January breakeven (2954). Now, it is true that we got numerous weaknesses to correct downside and that current Pit session failed above 2972-75 but we are in cable and Pit session is maybe not the strongest portion of this market: so watch out and take all these information in your scenarios.
Ubi maior minor cessat
  • #6,380
  • Feb 13, 2020 7:00am Feb 13, 2020 7:00am
The Pit situation:
We are going to open US far above 2972-75: those are the main levels both for preUS and PIT sessions.
Acceptation above them could let this market to aim at the opposite side of the monthly balance, meaning PIT January high 3210

If instead we will see a clear rejection above 2972-75 then all this action could retrace down to the weaknesses left by November 2019 and current month.

So monitor carefully the following:

  1. will Pit open with a gap above yesterday PIT high 29795?
  2. will this gap be preserved or not?
  3. will the confirmation/acceptance above 2972-75 be obtained?

Final note: The Pit gaps in the monthly chart could eventually attract Pit action.

Quoting Lock
Top of the triple pass GB gap is 30335
Btw note GB unch 1 single pip below 30335
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-13_4-46-21_Monthly PIT.png Size: 44 KB
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