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Lock's Cable Corner

  • #6,761
  • Oct 23, 2020 3:12am Oct 23, 2020 3:12am
Quoting Lock
{quote} ...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...
And here you are: 31045 taken out
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  • #6,762
  • Oct 23, 2020 4:00am Oct 23, 2020 4:00am
Quoting Lock
{quote} 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..
We got no acceptation above 3097, at least for now. We can have balance around here or liquidate toward Tokyo poor low 3050.
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  • #6,763
  • Oct 23, 2020 4:03am Oct 23, 2020 4:03am
...and to continue lower we need acceptation below yesterday GB low 3083. If not: balance, at least for a while.
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  • #6,764
  • Oct 23, 2020 4:19am Oct 23, 2020 4:19am
Quoting Lock
...and to continue lower we need acceptation below yesterday GB low 3083. If not: balance, at least for a while.
No acceptation below 3083 and here you have balance...
Now let's see if it is able or not to gain acceptation above yes unch 3097.
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  • #6,765
  • Oct 23, 2020 4:29am Oct 23, 2020 4:29am
Quoting Lock
{quote} No acceptation below 3083 and here you have balance... Now let's see if it is able or not to gain acceptation above yes unch 3097.
Note price up and down 3097: the importance of market generated information...
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  • #6,766
  • Oct 23, 2020 4:39am Oct 23, 2020 4:39am
Quoting Lock
{quote} No acceptation below 3083 and here you have balance... Now let's see if it is able or not to gain acceptation above yes unch 3097.
Now we got acceptation above 3097. A Rally is possible But watch out as the structure below with that poor Tokyo low 3050 is clearly a substantial risk. If it goes up monitor for continuation, 3122 is the next visible level....
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  • #6,767
  • Oct 23, 2020 9:43am Oct 23, 2020 9:43am
Quoting Lock
{quote} We got no acceptation above 3097, at least for now. We can have balance around here or liquidate toward Tokyo poor low 3050.
I guess we will close this week below this level
  • #6,768
  • Oct 23, 2020 10:27am Oct 23, 2020 10:27am
Note that both today and yesterday pit sessions opened and went down immediately. If it will continue lower, carry forward this info as it is a very rare occurrence. (3116, 30745 are the highs of these sessions: take note)
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  • #6,769
  • Oct 23, 2020 11:04am Oct 23, 2020 11:04am
E period high at HB..
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  • #6,770
  • Oct 23, 2020 11:16am Oct 23, 2020 11:16am
30075 September Pit inside week high. If reached.
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  • #6,771
  • Oct 24, 2020 1:02am Oct 24, 2020 1:02am
Quoting Lock
{quote} Now we got acceptation above 3097. A Rally is possible But watch out as the structure below with that poor Tokyo low 3050 is clearly a substantial risk. If it goes up monitor for continuation, 3122 is the next visible level....
price continued higher exactly to 3122, found no acceptation above it (it merely tested it) and broke down toward 3050(it was a 70 pips position for those who profit from it) then continued lower but at this point in time it was short in the hole and I started to underline the weakness of those who where continuously selling at exact intra session levels (like half back)...

Quoting Lock
E period high at HB..
and at the end of the day it took it out all those weaknesses: it was a 26 pips trade for those who profit from it and it took 4 entire hours to develop. Not the kind of position I like but still an opportunity.
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  • #6,772
  • Oct 24, 2020 1:10am Oct 24, 2020 1:10am
Quoting Pixie666
{quote} I guess we will close this week below this level
...it closed 5.5 pips below that level
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  • #6,773
  • Edited 12:05pm Oct 24, 2020 11:50am | Edited 12:05pm
Quoting Lock
Note that both today and yesterday pit sessions opened and went down immediately. If it will continue lower, carry forward this info as it is a very rare occurrence. (3116, 30745 are the highs of these sessions: take note)
In this previous post I suggest to take into serious consideration a simple sequence of events: in the last two consecutive pit sessions, price went down immediately at open. Those opens are at 30745 and 3116.

Maybe you may ask questions: why this is important and why this could possibly provide me an opportunity in the future?
In order to understand current situation you have to reason from the perspective of those who sold immediately at the open of a particular session.

Market open and I immediately sell. I do not test above open, just to see if someone is interested to buy: I just start selling. Is this a behavior typical of big money? Is this a conservative way to open a position in a so insecure market? No. So who am I? I am a very emotional short time-frame trader, with a modest pool of money at my disposal. Furthermore, because the market went exactly in the direction of my trade I'm not alone. I'm operating together with other traders like me. We are ruling the market.

Now, let's switch the perspective. Let's think as a bigger operator, not an investor, but at least someone like an edge fund, with a substantial amount of money in his hands.

I noted that market went down immediately after open: at an exact reference. I do not need to speak with my pairs to know that none of them sold there: the simple fact that the action occurred from an exact level told me that those who rule that action were inferior to me.

Furthermore I know that they perform such a position twice in a raw. Session after session. And I know, because they are weak traders, where their stops are. Not so much above those exact references. So what?

I can profit from such a situation. At the first opportunity (unless something exogenous and extraordinary will occur) I will buy knowing that they cannot oppose to me and that I can take out their stops easily.

Now let's come back to ourselves: we are very modest retail trader. We can follow price, whatever does it means. Dreaming about systems, indicators, Fibonacci numbers, and so on. Or we can start to reason as actual traders, taking into consideration market generated information and trying to profit from them. How? Well, for instance we can start to follow bigger money and try to go against weaker ones.

PS: Does this means that I'm sure about the possible retrace upside toward 30745 and 3116? No. Does this means that we will not see price going lower during next sessions? No. It only means that odds are in favor to such a possibility and that if we will see price reverse and go higher (maybe not starting from an other exact level...)we can have better chances to succeed than to fail. And this is called: opportunity.
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  • #6,774
  • Oct 26, 2020 12:32am Oct 26, 2020 12:32am
Quoting Lock
{quote} In this previous post I suggest to take into serious consideration a simple sequence of events: in the last two consecutive pit sessions, price went down immediately at open. Those opens are at 30745 and 3116. Maybe you may ask questions: why this is important and why this could possibly provide me an opportunity in the future? In order to understand current situation you have to reason from the perspective of those who sold immediately at the open of a particular session. Market open and I immediately sell. I do not test above open, just...

BEST post of year 2020 Hands down
Here’s to another week
  • #6,775
  • Oct 26, 2020 1:54am Oct 26, 2020 1:54am
We are in a monthly balance, weekly trend upside* and daily balance.

Main refs for upcoming GB session:

  1. last GB session low 3052
  2. last week close 3039
  3. previous highest October GB close 30215
  4. GB September inside week high 3000
  5. last week low 29185

Monitor for acceptation or rejection above or below them. Also note that if we will see GB open below 3052 (last GB session low) we will have a new gap downside: monitor for the filling or preservation of it.

*last week low is at September GB close 29185: in order to interrupt current weekly trend upside, price has to go below this level. If not the trend is still in action. Take note.

Also note Tokyo session high is very poor at 3055: in case of rejection downside it's a good first target.

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  • #6,776
  • Oct 26, 2020 2:11am Oct 26, 2020 2:11am
Quoting Lock
{quote} In this previous post I suggest to take into serious consideration a simple sequence of events: in the last two consecutive pit sessions, price went down immediately at open. Those opens are at 30745 and 3116. Maybe you may ask questions: why this is important and why this could possibly provide me an opportunity in the future? In order to understand current situation you have to reason from the perspective of those who sold immediately at the open of a particular session. Market open and I immediately sell. I do not test above open, just...
...btw have a look at last Wednesday GB session low 2988: market opened and went up immediately. Emotional traders. So what?
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  • #6,777
  • Oct 26, 2020 2:52am Oct 26, 2020 2:52am
Quoting Lock
We are in a monthly balance, weekly trend upside* and daily balance. Main refs for upcoming GB session: last GB session low 3052 last week close 3039 previous highest October GB close 30215 GB September inside week high 3000 last week low 29185 Monitor for acceptation or rejection above or below them. .....
Note the pre GB test of 3000 exactly back to 30215...
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  • #6,778
  • Oct 26, 2020 2:52am Oct 26, 2020 2:52am
Quoting Lock
We are in a monthly balance, weekly trend upside* and daily balance. Main refs for upcoming GB session: last GB session low 3052 last week close 3039 previous highest October GB close 30215 GB September inside week high 3000 last week low 29185 Monitor for acceptation or rejection above or below them. Also note that if we will see GB open below 3052 (last GB session low) we will have a new gap downside: monitor for the filling or preservation of it. *last week low is at September GB close 29185: in order to interrupt current weekly trend upside,...
Monthly uptrend for this month tagged at 29185 so that is crucial for me if this things wants to keep more up monthly pace watching levels with caution this week
  • #6,779
  • Oct 26, 2020 3:14am Oct 26, 2020 3:14am
Quoting Lock
{quote} Note the pre GB test of 3000 exactly back to 30215...
GB opened, up and down open level and new test of 3000
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  • #6,780
  • Oct 26, 2020 3:31am Oct 26, 2020 3:31am
Quoting Lock
{quote} Note the pre GB test of 3000 exactly back to 30215...
New GB test below 3000 failed and here we are again exactly at 30215...
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