Lock's Cable Corner | Page 348 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #6,941
  • Oct 29, 2020 8:53am Oct 29, 2020 8:53am
Quoting Lock
Now, considering the situation we could fail again and remain into balance or continue lower toward 2890 and 2860
The first one has been taken out: I took off some from my position. Have a nice trading
Ubi maior minor cessat
  • #6,942
  • Oct 29, 2020 9:05am Oct 29, 2020 9:05am
Quoting Lock
{quote} The first one has been taken out: I took off some from my position. Have a nice trading
Amazing Catch you tomorrow session
I have few Alerts on main levels
had an awesome day piping
  • #6,943
  • Oct 29, 2020 11:26pm Oct 29, 2020 11:26pm
Now yesterday we saw price interrupting its weekly trend upside. Now we are in a monthly and weekly balance and a daily trend downside.
The fact is that GB has been the only session to have not completed yet the test of its own weekly low at 29185. It did it indirectly as GB closed at 28895 but not directly (of its own): so take note of this.

As written yesterday a market generally goes from trend to balance and trend again. It generally do not goes from trend to opposite trend without a balance process. It can happen and sometime, very rarely you see V shaped market. But I repeat it: it's rare.

Now, in order to stop current daily trend upside we have to see yesterday 30255 taken out: this simple fact will place the entire cable market in a full balance: monthly, weekly and daily. But it's a long very long path. So let's take into consideration major refs and let's try to take this market a piece at a time.

 

  1. Yesterday GB close at 28895
  2. Last week GB low 29185
  3. Yesterday GB spike base at 2981
  4. GB September inside week high at 3000
  5. and finally 30255 yesterday weak high made by GB and Tokyo highs at the same level.


Now, in order to reach 30255 we need to have acceptation above all of previous levels... So any time you will not find acceptation above one of them take your time to think at the odds we have to continue any higher to the next level. Take this market a piece at a time.

If instead you'll see price continuing lower and gaining momentum you may ask yourselves where are the possible limits of such an action downside.
Here you are:
for GB we have

  1. previous GB week low - 28485
  2. GB Sept unch at 2827
  3. and GB inside week low(SEPT) 2821

These are the levels that can impact in a possible continuation downside. In my opinion obviously.

For upcoming GB session monitor for the formation of a new possible gap from yesterday GB low at 2937.

PS: monitor USDX as it took out a lot of stops yesterday. If it will not find new buyers above such levels it could retrace and eventually impact on cable.

Ubi maior minor cessat
  • #6,944
  • Oct 30, 2020 12:04am Oct 30, 2020 12:04am
Maybe I didn't underline an info here: this is the last GB session of October. 29185 is both the last week GB low and September GB close. So it clearly represents a very important level today as anyone want to see how and if October will close below September.
And in fact note the Tokyo pretest of it with H period high...
Ubi maior minor cessat
  • #6,945
  • Oct 30, 2020 12:45am Oct 30, 2020 12:45am
Quoting Lock
Maybe I didn't underline an info here: this is the last GB session of October. 29185 is both the last week GB low and September GB close. So it clearly represents a very important level today as anyone want to see how and if October will close below September. And in fact note the Tokyo pretest of it with H period high...
How interesting: last GB session of October is going to open and price is almost exactly at September GB close 29185... the importance of market generated information.
Ubi maior minor cessat
  • #6,946
  • Oct 30, 2020 1:02am Oct 30, 2020 1:02am
2937 yesterday GB low: new gap downside: monitor for filling of it, or not.
Ubi maior minor cessat
  • #6,947
  • Oct 30, 2020 1:08am Oct 30, 2020 1:08am
Quoting Lock
2937 yesterday GB low: new gap downside: monitor for filling of it, or not.
And if it will fill it, monitor for acceptation or rejection above 2937. Carefully.
Ubi maior minor cessat
  • #6,948
  • Oct 30, 2020 1:11am Oct 30, 2020 1:11am
For those who didn't already, please subscribe if you like my notes.
Ubi maior minor cessat
  • #6,949
  • Oct 30, 2020 1:17am Oct 30, 2020 1:17am
have a look at session GB daily..
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-10-30_1-16-58gb daily.png Size: 16 KB
Ubi maior minor cessat
  • #6,950
  • Oct 30, 2020 1:20am Oct 30, 2020 1:20am
and carry forward this if something will go wrong upside:
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-10-30_1-19-03tpo.png Size: 53 KB
Ubi maior minor cessat
  • #6,951
  • Oct 30, 2020 1:34am Oct 30, 2020 1:34am
Quoting Lock
{quote} And if it will fill it, monitor for acceptation or rejection above 2937. Carefully.
Quoting Lock
{quote} How interesting: last GB session of October is going to open and price is almost exactly at September GB close 29185... the importance of market generated information.
no acceptation above 2937 and here is an other test of 29185
Ubi maior minor cessat
  • #6,952
  • Oct 30, 2020 1:40am Oct 30, 2020 1:40am
Quoting Lock
{quote} {quote} no acceptation above 2937 and here is an other test of 29185
Note that any meaningful continuation downside need clear acceptation below 29185. If not...
Ubi maior minor cessat
  • #6,953
  • Oct 30, 2020 1:45am Oct 30, 2020 1:45am
Quoting Lock
{quote} Note that any meaningful continuation downside need clear acceptation below 29185. If not...
Watching this level on point
  • #6,954
  • Oct 30, 2020 1:48am Oct 30, 2020 1:48am
if it will attempt a very risky test below 29185 have a look at the possible response levels in my first post of the day...
like 2898, 28895. 2861, 28485 and 2827..
Ubi maior minor cessat
  • #6,955
  • Oct 30, 2020 1:57am Oct 30, 2020 1:57am
monitor for possible inside period B and balance rules!
Ubi maior minor cessat
  • #6,956
  • Oct 30, 2020 2:01am Oct 30, 2020 2:01am
Quoting Lock
{quote} And if it will fill it, monitor for acceptation or rejection above 2937. Carefully.
Now watch out if it will retest 2937 and fail again. This will be different in the result!
Ubi maior minor cessat
  • #6,957
  • Oct 30, 2020 2:02am Oct 30, 2020 2:02am
Quoting Lock
monitor for possible inside period B and balance rules!
Attempted rally from inside period B but C low at HB. Watch out.
Ubi maior minor cessat
  • #6,958
  • Oct 30, 2020 2:03am Oct 30, 2020 2:03am
also poor low at 2913: carry forward if it will attempt upside.
Ubi maior minor cessat
  • #6,959
  • Oct 30, 2020 2:19am Oct 30, 2020 2:19am
Quoting Lock
{quote} Now watch out if it will retest 2937 and fail again. This will be different in the result!
this is not a good test of 2937: extraordinary weak now
Ubi maior minor cessat
  • #6,960
  • Oct 30, 2020 2:21am Oct 30, 2020 2:21am
Quoting Lock
{quote} this is not a good test of 2937: extraordinary weak now
as always: this does not mean it cannot go lower it means that odds are in favor to a retake of if before or after..
Ubi maior minor cessat
11 traders viewing now