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Lock's Cable Corner

  • #6,641
  • Oct 15, 2020 7:22am Oct 15, 2020 7:22am
Quoting Pixie666
{quote} Thats what I was wondering also yesterday Pre US Pit, also if you can elaborate if today Pre US pit manages to go 2860, and stays below what are we looking for next means for today and tomorrow after opening pit sessions ? Thank you

Well, consider this: if price at pit open will be around here (below the already double gap 2994-3007) we will have a triple pass pit gap there. So in my opinion even if we will see price going down to finally solve 2860 we could expect some sort of correction of that very big anomaly upside before to see something more serious downside.
Obviously no one can exclude a retest of September inside week low at 2841 especially if we'll see a clear rejection above 30075 (the high of that crucial inside week)

So let see: if we go up clear the triple or double gap, fail the test above 30075 I think a retest of 2841 is almost sure. At the opposite, if we will see a first test of 2841 and a fail there, then 30075 is clearly the next move.
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  • #6,642
  • Oct 15, 2020 7:29am Oct 15, 2020 7:29am
Please also note that 2923 is September Pit unch, so acceptation above or below it will be an important indication of what can happen first.
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  • #6,643
  • Oct 15, 2020 7:36am Oct 15, 2020 7:36am
Quoting Lock
{quote} Well, consider this: if price at pit open will be around here (below the already double gap 2994-3007) we will have a triple pass pit gap there. So in my opinion even if we will see price going down to finally solve 2860 we could expect some sort of correction of that very big anomaly upside before to see something more serious downside. Obviously no one can exclude a retest of September inside week low at 2841 especially if we'll see a clear rejection above 30075 (the high of that crucial inside week) So let see:...
Excellent!

Thank you for the great insight
  • #6,644
  • Oct 15, 2020 8:20am Oct 15, 2020 8:20am
Quoting Lock
3068 is a weakness. Yesterday Pit session tagged exactly 30075 (and its entire range remained above it) We could see the correction of the double gaps here and then 3068, or 3068 and then the correction of the multiple double gaps (GB and PIT) In any case carry forward the fact that GB yesterday couldn't solve preUS PL 2899 nor Pit PL 2860
Very weak money here: 2899 only tagged and note C period high exactly at open 2927
Watch out

PS: it's building a new huge pit gap downside and then 2994-3007 is going to be triple pass. Take note.
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  • #6,645
  • Oct 15, 2020 8:23am Oct 15, 2020 8:23am
Quoting Pixie666
{quote} Excellent! Thank you for the great insight
you're welcome
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  • #6,646
  • Oct 15, 2020 8:39am Oct 15, 2020 8:39am
Quoting Lock
{quote} Very weak money here: 2899 only tagged and note C period high exactly at open 2927 Watch out PS: it's building a new huge pit gap downside and then 2994-3007 is going to be triple pass. Take note.
2927 taken out
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  • #6,647
  • Oct 15, 2020 9:08am Oct 15, 2020 9:08am
Quoting Lock
Please also note that 2923 is September Pit unch, so acceptation above or below it will be an important indication of what can happen first.
For now we got short covering (overnight was 100% short): the real info is 2923
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  • #6,648
  • Oct 15, 2020 9:26am Oct 15, 2020 9:26am
It looks like B is going to be an inside period: balance rules apply
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  • #6,649
  • Oct 15, 2020 9:29am Oct 15, 2020 9:29am
Quoting Lock
It looks like B is going to be an inside period: balance rules apply
Yes looks like it
  • #6,650
  • Oct 15, 2020 9:34am Oct 15, 2020 9:34am
Quoting Lock
{quote} Very weak money here: 2899 only tagged and note C period high exactly at open 2927 Watch out PS: it's building a new huge pit gap downside and then 2994-3007 is going to be triple pass. Take note.
And here we are at 2899. In any case it's still weak money. Note C period high at open 2911. If it goes down without correction watch out again.
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  • #6,651
  • Oct 15, 2020 9:44am Oct 15, 2020 9:44am
Quoting Lock
{quote} And here we are at 2899. In any case it's still weak money. Note C period high at open 2911. If it goes down without correction watch out again.
2899 now is taken out: monitor for acceptation below it: it's the only way to seriously think at 2860 and eventually at a retest of sept inside week low 2841. If not...
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  • #6,652
  • Oct 15, 2020 10:00am Oct 15, 2020 10:00am
Quoting Lock
{quote} And here we are at 2899. In any case it's still weak money. Note C period high at open 2911. If it goes down without correction watch out again.
And here you are at 2911...
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  • #6,653
  • Oct 15, 2020 10:03am Oct 15, 2020 10:03am
Hello All Cable Guru,s
hope we see 1.2880 then push up
  • #6,654
  • Oct 15, 2020 10:28am Oct 15, 2020 10:28am
Quote
For now we got short covering (overnight was 100% short): the real info is 2923
- Back again.

Good to see you posting Lock. Great MP analysis!
  • #6,655
  • Oct 15, 2020 10:29am Oct 15, 2020 10:29am
Quoting Abeeha
Hello All Cable Guru,s hope we see 1.2880 then push up
Well, now it's all about 2923, our main ref around here. Monitor for acceptation above or below it. Consider also that we failed below overnight low and in the first attempt below inside period B: balance rules are in play.
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  • #6,656
  • Oct 15, 2020 10:30am Oct 15, 2020 10:30am
Quoting Steamroller
{quote} - Back again. Good to see you posting Lock. Great MP analysis!
Exactly! And thank you.
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  • #6,657
  • Oct 15, 2020 11:01am Oct 15, 2020 11:01am
Quoting Lock
{quote} Well, now it's all about 2923, our main ref around here. Monitor for acceptation above or below it. Consider also that we failed below overnight low and in the first attempt below inside period B: balance rules are in play.
D and E periods failed to find acceptation above 2923. GB closed. We can see balance (eventually up to B high) or a new test downside towards 2860. If it will remain in balance I'll be out.
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  • #6,658
  • Oct 15, 2020 2:07pm Oct 15, 2020 2:07pm
Quoting Lock
{quote} D and E periods failed to find acceptation above 2923. GB closed. We can see balance (eventually up to B high) or a new test downside towards 2860. If it will remain in balance I'll be out.
So we got balance, went some pips below B high and then liquidated: now we have a new poor low. So we got 2 back to back poor lows (current one at 2890 and the old one at 2860) and 2860 is also a monthly poor low.
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  • #6,659
  • Oct 16, 2020 12:28am Oct 16, 2020 12:28am
On a major scale we are in a monthly balance and in a weekly trend upside: take note of that. 28485 is last GB week low: to interrupt the weekly trend upside we have to see price below it.

If GB will open with a new gap downside and we will not see it retraced quickly, a new retest of GB September inside week low 2821 is possible, also considering the path towards it full of weaknesses (see previous post, adding also Tokyo PL at 2836 that is also October poor low).

In any case the major refs to consider are yesterday GB low 2909 and yesterday GB close at 2916: monitor for acceptation or rejection above and below them.

If we fail downside there are multiple anomalies and weaknesses left upside, at least up to 3068
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  • #6,660
  • Oct 16, 2020 2:21am Oct 16, 2020 2:21am
Quoting Lock
...... In any case the major refs to consider are yesterday GB low 2909 and yesterday GB close at 2916: monitor for acceptation or rejection above and below them....
Note GB open exactly at yesterday close 2916
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