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Lock's Cable Corner

  • #6,681
  • Oct 16, 2020 10:56am Oct 16, 2020 10:56am
Period E inside D inside C: monitor for possible breakout
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  • #6,682
  • Oct 16, 2020 11:04am Oct 16, 2020 11:04am
Quoting Lock
Period E inside D inside C: monitor for possible breakout
breakout occurring upside right now as expected. Poor high.
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  • #6,683
  • Oct 16, 2020 11:08am Oct 16, 2020 11:08am
29595 is yesterday pit high and because current session is inside yesterday session range, that level is the main reference upside. If something has to happen is there.
Obviously we could see price fail current attempt from periods balance and never reach that level...
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  • #6,684
  • Oct 16, 2020 11:10am Oct 16, 2020 11:10am
Remember that we are very close to 2935 major yearly (20 years) poc: we got to have volume to evade its attraction.
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  • #6,685
  • Oct 16, 2020 11:10am Oct 16, 2020 11:10am
Quoting Lock
29595 is yesterday pit high and because current session is inside yesterday session range, that level is the main reference upside. If something has to happen is there. Obviously we could see price fail current attempt from periods balance and never reach that level...
Been waiting for this breakout whole GB session!
let’s see what US session gives
  • #6,686
  • Oct 16, 2020 11:25am Oct 16, 2020 11:25am
Quoting Lock
Remember that we are very close to 2935 major yearly (20 years) poc: we got to have volume to evade its attraction.
and in fact.... here we are back into balance: now opposite side of it is possible ( I mean D period low around 2915 )

if 2935 will allow it to evade downside
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  • #6,687
  • Oct 16, 2020 11:42am Oct 16, 2020 11:42am
Quoting Lock
{quote} and in fact.... here we are back into balance: now opposite side of it is possible ( I mean D period low around 2915 ) if 2935 will allow it to evade downside
And here we are at 2915. Now if this liquidation is serious we could see the correction of 2901 (B period low at open)
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  • #6,688
  • Oct 16, 2020 12:24pm Oct 16, 2020 12:24pm
Kept few alerts on those levels, calling it a week
Have a great weekend & see you next week ! & Thank you again for valuable Insights
Been amazing trading this week Gbp less then 300 pip movement !
  • #6,689
  • Oct 16, 2020 2:42pm Oct 16, 2020 2:42pm
Quoting Pixie666
Kept few alerts on those levels, calling it a week Have a great weekend & see you next week ! & Thank you again for valuable Insights Been amazing trading this week Gbp less then 300 pip movement !
Thank you Pixie for your support. Have a nice weekend!
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  • #6,690
  • Oct 16, 2020 2:44pm Oct 16, 2020 2:44pm
Unless something exceptional will occur this is an inside session. Balance rules will apply next week.
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  • #6,691
  • Oct 19, 2020 1:51am Oct 19, 2020 1:51am
29295 is last week GB close. Note that price is currently inside Friday GB session range.
We have huge anomalies downside and many unsolved issues upside. It's still a very indecisive and dangerous market.

Friday low is back to back Wednesday low (both GB lows around 2862)
We got 2 back to back Pit PL 2890 and 2860.
Current Tokyo and Syd session lows are again poor.
etc...
And above that 3068 is almost incredible...
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  • #6,692
  • Oct 19, 2020 1:58am Oct 19, 2020 1:58am
Quoting Lock
29295 is last week GB close. Note that price is currently inside Friday GB session range. We have huge anomalies downside and many unsolved issues upside. It's still a very indecisive and dangerous market. Friday low is back to back Wednesday low (both GB lows around 2862) We got 2 back to back Pit PL 2890 and 2860. Current Tokyo and Syd session lows are again poor. etc... And above that 3068 is almost incredible...
Yes Indecisive is the word!
Let’s Begin
heres to another week
  • #6,693
  • Oct 19, 2020 3:25am Oct 19, 2020 3:25am
As written last week 1.3000 is September inside week high (for GB): monitor for acceptation or rejection above it (if reached)
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  • #6,694
  • Oct 19, 2020 3:30am Oct 19, 2020 3:30am
Think about it: if this GB action upside is serious (targeting for instance 3068) at Pit open we could have a 4 pass pit gap at 2994-30075

Is it a normal occurrence to have a 4 pass pit gap? No. And this is a very important info.
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  • #6,695
  • Oct 19, 2020 3:49am Oct 19, 2020 3:49am
Quoting Lock
Think about it: if this GB action upside is serious (targeting for instance 3068) at Pit open we could have a 4 pass pit gap at 2994-30075 Is it a normal occurrence to have a 4 pass pit gap? No. And this is a very important info.
Would you elaborate a bit more on 4 pass pit gap?
I am not familiar with this term
  • #6,696
  • Oct 19, 2020 4:12am Oct 19, 2020 4:12am
im sorry but im new to this thread.. what price are you looking at now? im looking at 1.3027 as important level... rejection to short and break to long.
PATIENCE AND DISCIPLINE!
  • #6,697
  • Oct 19, 2020 8:36am Oct 19, 2020 8:36am
Quoting Lock
Think about it: if this GB action upside is serious (targeting for instance 3068) at Pit open we could have a 4 pass pit gap at 2994-30075 Is it a normal occurrence to have a 4 pass pit gap? No. And this is a very important info.
And here you are: pit session opened below 2994-30075 and immediately filled it all.

What I was saying before is that in my opinion it was very unlikely to see pit open above that already triple pass gap, and by this I assumed that GB action upside was inconsistent. Now if the new gap upside from Friday pit high will be preserved, we could aim at 3068.

...always remembering the extreme weaknesses left downside (including the 2 Pit poor lows

And also: watch out because any action upside need as a first step acceptation above 30075, pit september inside week high
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  • #6,698
  • Oct 19, 2020 8:52am Oct 19, 2020 8:52am
Quoting Lock
Unless something exceptional will occur this is an inside session. Balance rules will apply next week.
Friday pit session range was inside Thursday pit session range: we got an inside session meaning balance.

As expected this week we got an attempted break out from balance: upside.

Now, if you see price coming back inside pit friday range and gain acceptation below its high (2946), the breakout will be considered failed and than we could aim at the opposite side of the balance (meaning Friday and Thursday pit lows 2890)

If instead this break will succeed we could see the start of a new trend upside.
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  • #6,699
  • Oct 19, 2020 8:58am Oct 19, 2020 8:58am
Quoting Pixie666
{quote} Would you elaborate a bit more on 4 pass pit gap? I am not familiar with this term
A gap here is intended as the "untested empty space" between a session and the consequent session of the same kind. In this case we are speaking about pit sessions. For instance from Friday pit session high to today pit session low there is a new gap. But there was a gap also from Wednesday pit session low and Thursday pit session high.

As a consequence the space where this two gaps overlap is considered a 2 pass gap.

A 3 pass gap not corrected is rare. A 4 pass gap is extraordinary rare. So if you see a triple pass gap or even a 4 pass gap, you have good reasons to think that price is going to test the zone that consequently become a possible target.
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  • #6,700
  • Oct 19, 2020 9:02am Oct 19, 2020 9:02am
Quoting Lock
.... And also: watch out because any action upside need as a first step acceptation above 30075, pit september inside week high
A period closed below 30075. Let's see B period.
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