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Lock's Cable Corner

  • #6,601
  • Mar 6, 2020 3:28am Mar 6, 2020 3:28am
Quoting Lock
If it will test 2954 watch out as things could happen there note a poor high 29815 followed by an other old poor high 29925: carry forward this info {quote} The same importance has given by 2985 and 29953: as written early this morning these three refs are crucial
So it went there. And it did it without testing 2954: take note.
Now 29953 could be crucial
Ubi maior minor cessat
  • #6,602
  • Mar 6, 2020 3:43am Mar 6, 2020 3:43am
Quoting Lock
{quote} So it went there. And it did it without testing 2954: take note. Now 29953 could be crucial
We took out last week high: now we are no more in a weekly one time framing action downside: we could expect weekly balance as normal.
Note that in order to also revert the monthly trend downside we should take out GB Feb high around 3150. So watch out as, even if we have interrupted the weekly trend we still are in a monthly trend downside.
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  • #6,603
  • Mar 6, 2020 3:52am Mar 6, 2020 3:52am
Quoting Lock
{quote} We took out last week high: now we are no more in a weekly one time framing action downside: we could expect weekly balance as normal. Note that in order to also revert the monthly trend downside we should take out GB Feb high around 3150. So watch out as, even if we have interrupted the weekly trend we still are in a monthly trend downside.
Lock, what do you mean by weekly balance?
  • #6,604
  • Mar 6, 2020 4:30am Mar 6, 2020 4:30am
Quoting hocius
{quote} Lock, what do you mean by weekly balance?
I mean weekly balance: a balance on a weekly timeframe. Nothing to do with current action upside (that is a daily trend upside)
As you may read in a previous post generally a market go from balance to trend and then balance again. We were in a weekly trend downside that now is interrupted as we took out last week high: as a consequence now I expect as probable a weekly balance before to revert the previous trend or to continue it again.

Clearly there are exceptions and sometime it could occur to see a trend reverted in a V shape but that is not the common evolution of a market.

So my note do not say anything about current daily action, it tells a lot about the possible following weekly scenario.
Ubi maior minor cessat
  • #6,605
  • Mar 6, 2020 4:36am Mar 6, 2020 4:36am
Quoting Lock
{quote} So it went there. And it did it without testing 2954: take note. Now 29953 could be crucial
29953 retested from above
Ubi maior minor cessat
  • #6,606
  • Mar 6, 2020 4:37am Mar 6, 2020 4:37am
Well I'm off for now. Have a nice trading.
Ubi maior minor cessat
  • #6,607
  • Mar 6, 2020 4:41am Mar 6, 2020 4:41am
Quoting Lock
{quote} I mean weekly balance: a balance on a weekly timeframe. Nothing to do with current action upside (that is a daily trend upside) As you may read in a previous post generally a market go from balance to trend and then balance again. We were in a weekly trend downside that now is interrupted as we took out last week high: as a consequence now I expect as probable a weekly balance before to revert the previous trend or to continue it again. Clearly there are exceptions and sometime it could occur to see a trend reverted in a V shape but that...
Thanks for the explanation Lock
  • #6,608
  • Mar 6, 2020 9:01am Mar 6, 2020 9:01am
3018 is last week high: also pit interrupted its one time framing lower weekly action.

New gap upside from yesterday pit high. Yesterday spike base is at 2950. 3054 is possible

20.02.14 old pit weekly unch 30478

3042 is the high of previous week (before the last one): we need acceptation above it for continuation.

30695 is Feb high (for pit session) a test of it is not impossible IF we get acceptation above 3042 and 30478
Ubi maior minor cessat
  • #6,609
  • Mar 6, 2020 9:18am Mar 6, 2020 9:18am
Upside we have 2 double pass pit gaps: one at 30965-3075 and an other one higher at 3110-38. If and when we will get acceptation above pit feb high 30965 they are both possible.

If instead we will see a clear rejection above 30965 we could imagine balance or even a correction downside toward 2992.

The daily trend is up. The monthly one is still down for now. The weekly interrupted its trend up.
Ubi maior minor cessat
  • #6,610
  • Mar 6, 2020 9:26am Mar 6, 2020 9:26am
Quoting Lock
3018 is last week high: also pit interrupted its one time framing lower weekly action. New gap upside from yesterday pit high. Yesterday spike base is at 2950. 3054 is possible 20.02.14 old pit weekly unch 30478 3042 is the high of previous week (before the last one): we need acceptation above it for continuation. 30695 is Feb high (for pit session) a test of it is not impossible IF we get acceptation above 3042 and 30478
Watch out if you'll not see acceptation above 3042-30478
Ubi maior minor cessat
  • #6,611
  • Mar 6, 2020 9:34am Mar 6, 2020 9:34am
Quoting Lock
{quote} Watch out if you'll not see acceptation above 3042-30478
retesting 3042
Ubi maior minor cessat
  • #6,612
  • Mar 6, 2020 10:13am Mar 6, 2020 10:13am
Quoting Lock
{quote} retesting 3042
It attempted three times 3042 and three times it failed: take note
Ubi maior minor cessat
  • #6,613
  • Mar 6, 2020 10:14am Mar 6, 2020 10:14am
now 3018 last week high is support: let's see if we will test it or not
Ubi maior minor cessat
  • #6,614
  • Mar 6, 2020 10:19am Mar 6, 2020 10:19am
Quoting Lock
{quote} Watch out if you'll not see acceptation above 3042-30478
Quoting Lock
now 3018 last week high is support: let's see if we will test it or not
It failed above 3042 - 30478 and here we are exactly at 3018
Ubi maior minor cessat
  • #6,615
  • Mar 6, 2020 10:21am Mar 6, 2020 10:21am
Quoting Lock
{quote} {quote} It failed above 3042 - 30478 and here we are exactly at 3018
For a complete failure upside we need now acceptation below 3018: if not, balance or a new test of 3042-30478
Ubi maior minor cessat
  • #6,616
  • Mar 6, 2020 10:31am Mar 6, 2020 10:31am
if we get acceptation below 3018, 2992 is possible. If not see previous post
Ubi maior minor cessat
  • #6,617
  • Mar 6, 2020 10:36am Mar 6, 2020 10:36am
Quoting Lock
3018 is last week high: also pit interrupted its one time framing lower weekly action. New gap upside from yesterday pit high. Yesterday spike base is at 2950. 3054 is possible 20.02.14 old pit weekly unch 30478 3042 is the high of previous week (before the last one): we need acceptation above it for continuation. 30695 is Feb high (for pit session) a test of it is not impossible IF we get acceptation above 3042 and 30478
Note that market provided information give you the reading keys for current session: 30478 - 3018 is current session range
Ubi maior minor cessat
  • #6,618
  • Mar 6, 2020 10:39am Mar 6, 2020 10:39am
Now current situation is very uncertain as we got conflicting info: anyhow those who bought this morning were weak money (as they left 3 back to back poor lows 2940-29485 and 2961). So in case of serious liquidation market will take no prisoners there.
Ubi maior minor cessat
  • #6,619
  • Mar 6, 2020 10:41am Mar 6, 2020 10:41am
As a more modest correction, if we got acceptation below 3018, I found 2992 as a possible target, because it is the low of preUS C period and it is exactly at preUS open (weak money buying there)
Ubi maior minor cessat
  • #6,620
  • Mar 6, 2020 10:44am Mar 6, 2020 10:44am
Imho next week weekly looks we will go above 1.31
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
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