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Lock's Cable Corner

  • #6,781
  • Oct 26, 2020 3:33am Oct 26, 2020 3:33am
Quoting Lock
{quote} New GB test below 3000 failed and here we are again exactly at 30215...
Monitor for acceptation or rejection above it. Next level upside 3039. If rejection back to a new test of 3000
Ubi maior minor cessat
  • #6,782
  • Oct 26, 2020 4:29am Oct 26, 2020 4:29am
Quoting Lock
{quote} Monitor for acceptation or rejection above it. Next level upside 3039. If rejection back to a new test of 3000
Here we are at 3039: monitor for aceptation or rejection above it. Note B and C periods lows at HB
Ubi maior minor cessat
  • #6,783
  • Oct 26, 2020 4:38am Oct 26, 2020 4:38am
Quoting Lock
{quote} Here we are at 3039: monitor for aceptation or rejection above it. Note B and C periods lows at HB
That was quick 40pips move I cashed out and now monitoring
  • #6,784
  • Oct 26, 2020 4:58am Oct 26, 2020 4:58am
Quoting Lock
....GB September inside week high 3000 last week low 29185 Monitor for acceptation or rejection above or below them. .... Also note Tokyo session high is very poor at 3055: in case of rejection downside it's a good first target.
GB opened, tested the first main reference below at 3000, failed below it and here we are at 3055. Poor structure left downside.
Monitor for acceptation or rejection above 3055: it's overnight high. In case of acceptation next level is 3087. In case of rejection back to previous HB level 30145
Ubi maior minor cessat
  • #6,785
  • Oct 26, 2020 5:36am Oct 26, 2020 5:36am
3068 is also important (previous GB week high, not the last one , the one with the major cluster of stop that ignited the last big rally): if reached, monitor for acceptation above it or not.
Ubi maior minor cessat
  • #6,786
  • Oct 26, 2020 5:39am Oct 26, 2020 5:39am
Very weak structure left downside. Carry forward this info in case of continuation upside.
Ubi maior minor cessat
  • #6,787
  • Oct 26, 2020 6:01am Oct 26, 2020 6:01am
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...
Note that current high, as a tag of an already weak reference 30745, is a very weak one. We can see balance, we can see even liquidation from here. But this high is not a good one. Btw for those who follow me: have a look at the development of the opportunity I was speaking about in that "big" post...
Ubi maior minor cessat
  • #6,788
  • Oct 26, 2020 7:38am Oct 26, 2020 7:38am
Main refs for US

  1. 30445 weekly pit unch
  2. 30185 Friday pit low
  3. 30075 September pit inside week high

Monitor for acceptation or rejection below or above them.
Weak refs upside 30745 and 3116

Ubi maior minor cessat
  • #6,789
  • Oct 26, 2020 7:41am Oct 26, 2020 7:41am
For now we are inside previous pit session range: balance expected at least initially.
Ubi maior minor cessat
  • #6,790
  • Oct 26, 2020 7:45am Oct 26, 2020 7:45am
Quoting Lock
Main refs for US 30445 weekly pit unch 30185 Friday pit low 30075 September pit inside week high Monitor for acceptation or rejection below or above them. Weak refs upside 30745 and 3116
30185 just tagged by preUS: weak low now
Ubi maior minor cessat
  • #6,791
  • Oct 26, 2020 7:49am Oct 26, 2020 7:49am
Quoting Lock
Very weak structure left downside. Carry forward this info in case of continuation upside.
More than 70% correction of weak GB structure.
Ubi maior minor cessat
  • #6,792
  • Oct 26, 2020 7:51am Oct 26, 2020 7:51am
Quoting Lock
3068 is also important (previous GB week high, not the last one , the one with the major cluster of stop that ignited the last big rally): if reached, monitor for acceptation above it or not.
Note that this correction occurred after the non-acceptation above 3068: the importance of market generated information.
Ubi maior minor cessat
  • #6,793
  • Oct 26, 2020 7:53am Oct 26, 2020 7:53am
Quoting Lock
{quote} Here we are at 3039: monitor for aceptation or rejection above it. Note B and C periods lows at HB
market generated info from previous session: B and C periods lows taken out.
Ubi maior minor cessat
  • #6,794
  • Oct 26, 2020 7:54am Oct 26, 2020 7:54am
Quoting Lock
{quote} 30185 just tagged by preUS: weak low now
30185 taken out...
Ubi maior minor cessat
  • #6,795
  • Oct 26, 2020 7:55am Oct 26, 2020 7:55am
Quoting Lock
{quote} 30185 taken out...
monitor for acceptation or rejection below it and , if reached, below 30075 (major refs)
Ubi maior minor cessat
  • #6,796
  • Oct 26, 2020 9:38am Oct 26, 2020 9:38am
Now, if we find acceptation below overnight low and below 30075 we could aim at 2975 and more, maybe even 2935. If we will not find acceptation below those refs we could retrace back toward 3050 as a first step.
Current low is clearly weak as a tag of GB low. And is also poor as double tag by pit periods
Ubi maior minor cessat
  • #6,797
  • Oct 26, 2020 10:34am Oct 26, 2020 10:34am
E inside D inside C: full balance here. Balance rules apply
Ubi maior minor cessat
  • #6,798
  • Oct 26, 2020 11:03am Oct 26, 2020 11:03am
Quoting Lock
E inside D inside C: full balance here. Balance rules apply
Goog opportunity: it rallied from little balance (minimum risk here) and it left downside a very weak and poor low (carry this info forward)
Let's see if it's able to gain momentum and take out some of the weaknesses left upside or if it will end into balance or new liquidation.
Ubi maior minor cessat
  • #6,799
  • Oct 26, 2020 11:14am Oct 26, 2020 11:14am
For serious continuation upside we clearly want to see acceptation above open level. If not, I expect balance or new liquidation.
Ubi maior minor cessat
  • #6,800
  • Oct 27, 2020 2:05am Oct 27, 2020 2:05am
We are in a monthly balance a weekly trend upside and a daily trend downside.

  1. We left upside a very weak level at 3150-52 where we have a GB session high tagging a Tokyo high immediately followed by a Sydney poor high.
  2. Yesterday GB high (also daily high) at 30745 is very weak as it is a perfect tag of a previous weak level (it's a tag of Friday pit high);
  3. Yesterday Pit low at 29945 is weak and poor as it is a Pit poor low tagging GB low: it's not a daily poor low anyway as Tokyo low is a couple of pips below them.
  4. Current Tokyo low is poor at 30125.
  5. The entire rally upside of last week is supported by a Sydney poor low at 2936 (almost same level of major poc 2935)

So, in my opinion none of these level should have a long life: in order to understand the possible sequence anyhow I strongly suggest, as always, to take this market a piece at a time. Take into consideration major references, monitor the reaction of price at those references and act accordingly.

Major refs for upcoming GB session are:

  1. yesterday GB high 30745;
  2. last weekly GB close 3039;
  3. 3021 yesterday GB close;
  4. yesterday GB low 29945;

Ubi maior minor cessat
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