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Lock's Cable Corner

  • #6,741
  • Oct 22, 2020 5:23am Oct 22, 2020 5:23am
HB: weak money selling from here in auto mode.
Ubi maior minor cessat
  • #6,742
  • Oct 22, 2020 5:26am Oct 22, 2020 5:26am
Quoting Lock
HB: weak money selling from here in auto mode.
wiped as normal...
Ubi maior minor cessat
  • #6,743
  • Oct 22, 2020 5:30am Oct 22, 2020 5:30am
Quoting Lock
Also: extremely low volume going downside. Watch out. I repeat it here: this does not mean it cannot continue lower it means that those who are selling are for now weak money.
this last period upside made of its own almost 70% of the entire session volume...
Ubi maior minor cessat
  • #6,744
  • Oct 22, 2020 5:53am Oct 22, 2020 5:53am
It looks like H period is going to be an inside one: balance rules apply. If it will fail in one direction odds are in favor to the opposite side of the balance.
PS: H period high at half back, again weak money. Carry forward this info if it's going lower.
Ubi maior minor cessat
  • #6,745
  • Oct 22, 2020 8:19am Oct 22, 2020 8:19am
For upcoming Pit session major refs are: yesterday pit unch at 31465 and yesterday pit low at 30765

Note the extreme weakness of current market as underlined from early morning: this action downside has been extremely weak and current lows (Pre US tagging GB at 30835) is again very weak and poor. Furthermore we are in a zone with 3 old major composite zone: 3081, 3114 and 3134. All of them can attract price action.

Overnight inventory is 100% short.
Ubi maior minor cessat
  • #6,746
  • Oct 22, 2020 8:27am Oct 22, 2020 8:27am
Quoting Lock
It looks like H period is going to be an inside one: balance rules apply. If it will fail in one direction odds are in favor to the opposite side of the balance. PS: H period high at half back, again weak money. Carry forward this info if it's going lower.
...and here we are: what a surprise!
Ubi maior minor cessat
  • #6,747
  • Oct 22, 2020 9:02am Oct 22, 2020 9:02am
Note B high at HB 31045...
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  • #6,748
  • Oct 22, 2020 9:08am Oct 22, 2020 9:08am
Quoting Lock
.... current lows (Pre US tagging GB at 30835) is again very weak and poor. ....
Watch out if it takes out it and does not find acceptation below it...
Ubi maior minor cessat
  • #6,749
  • Oct 22, 2020 9:40am Oct 22, 2020 9:40am
C period high at Overnight low 30835...
Ubi maior minor cessat
  • #6,750
  • Oct 22, 2020 9:55am Oct 22, 2020 9:55am
Quoting Lock
C period high at Overnight low 30835...
taken out...
Ubi maior minor cessat
  • #6,751
  • Oct 22, 2020 10:00am Oct 22, 2020 10:00am
c inside period
Ubi maior minor cessat
  • #6,752
  • Oct 22, 2020 10:32am Oct 22, 2020 10:32am
Quoting Lock
c inside period
E inside D inside C...
Ubi maior minor cessat
  • #6,753
  • Oct 22, 2020 10:34am Oct 22, 2020 10:34am
E period high at HB...
Ubi maior minor cessat
  • #6,754
  • Oct 22, 2020 10:41am Oct 22, 2020 10:41am
Quoting Lock
E period high at HB...
taken out..
Ubi maior minor cessat
  • #6,755
  • Oct 22, 2020 10:50am Oct 22, 2020 10:50am
Quoting Lock
It looks like H period is going to be an inside one: balance rules apply. If it will fail in one direction odds are in favor to the opposite side of the balance. PS: H period high at half back, again weak money. Emphasis added
If H period high is at HB, that shows the Day-timeframe reference traders are "in charge". Are all Day-timeframe traders necessarily weak?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #6,756
  • Oct 22, 2020 11:00am Oct 22, 2020 11:00am
F inside E inside D inside C inside B....
Ubi maior minor cessat
  • #6,757
  • Oct 22, 2020 11:07am Oct 22, 2020 11:07am
Quoting HiddenGap
{quote} If H period high is at HB, that shows the Day-timeframe reference traders are "in charge". Are all Day-timeframe traders necessarily weak?
Well, they are relatively weaker than bigger money: this, as you correctly said, does not mean they cannot rule a market, even for a substantial amount of time (and space)... and you can even go with them, if you know what you're doing. You have to be aware of who is ruling the market, that's all.
Ubi maior minor cessat
  • #6,758
  • Oct 22, 2020 11:59am Oct 22, 2020 11:59am
Quoting Lock
Note B high at HB 31045...
...and here we are...at the initial half back 31045: it was weak before, it is weaker now as a tag...carry forward this info if it will continue lower...
Ubi maior minor cessat
  • #6,759
  • Oct 23, 2020 1:04am Oct 23, 2020 1:04am
We are in a monthly balance, weekly uptrend and daily balance.
Yesterday I saw a substantial liquidation all day long and it continued tonight during Tokyo.

As I wrote multiple times the upside action was based upon almost extraordinary weak structure: this liquidation is leaving upside, again, a weak structure. This means that the market in the last days has been ruled entirely by weak money.

I will not be surprised if current liquidation will continue down to main poc 2935, and further toward 2836 (Tokyo October poor low)
At the same time I will not be surprised if the weaknesses left upside will be removed first.

In order to better evaluate the situation I suggest to take into serious consideration the old GB gap upside at 3072-30835 and yesterday GB close at 3087. If you will not see GB filling that gap and gaining acceptation above yesterday close this liquidation can easily continue lower.

If instead you'll see the gap filled and acceptation above 3087 we could go up and take out all the weaknesses left upside till Sydeny poor high 3152.
Ubi maior minor cessat
  • #6,760
  • Oct 23, 2020 3:03am Oct 23, 2020 3:03am
Quoting Lock;13226512.... In order to better evaluate the situation I suggest to take into serious consideration the old GB gap upside at [B
3072-30835[/b] and yesterday GB close at 3087. If you will not see GB filling that gap and gaining acceptation above yesterday close this liquidation can easily continue lower. If instead you'll see the gap filled and acceptation above 3087 we could go up and take out all the weaknesses left upside till Sydeny poor high 3152.
It immediately filled the gap 3072-30835 and closed above yesterday GB close at 3087 and it tagged yesterday GB unch at 3097 (that is weak) Monitor for acceptation or rejection above 3087 and 3097 for continuation upside. If not..
Ubi maior minor cessat
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