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Lock's Cable Corner

  • #7,021
  • Nov 2, 2020 10:57am Nov 2, 2020 10:57am
Quoting Lock
If it will attempt above balance we could see a test of 2923 and / or 29505
And considering the weaknesses of current extremes, in case of failure all the way back to the other side of the balance.
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  • #7,022
  • Nov 2, 2020 11:04am Nov 2, 2020 11:04am
Again F high at HB: very weak money here as expected. Anyhow, E period is an inside one: balance rules. Go with the attempted move (if any) and monitor for continuation.
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  • #7,023
  • Nov 2, 2020 11:16am Nov 2, 2020 11:16am
Well, too late for me in such an environment: I think current pit range is very tiny. So it can extend trying up or down. Try not to anticipate the possible outcome. Go only if you see a clear attempt to break this little balance. Have a nice trading
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  • #7,024
  • Nov 2, 2020 11:29am Nov 2, 2020 11:29am
Quoting Lock
Well, too late for me in such an environment: I think current pit range is very tiny. So it can extend trying up or down. Try not to anticipate the possible outcome. Go only if you see a clear attempt to break this little balance. Have a nice trading
Very well I totally agree
I rather trade tomorrow sessions
have a nice evening
  • #7,025
  • Nov 3, 2020 1:36am Nov 3, 2020 1:36am
Monthly and weekly balance, daily trend downside.
What I wrote yesterday about current monthly balance is still valid as no tests have been performed nor below nor above October inside month range.

As a recap, for GB sessions October range is: 2819-3150
while for pit sessions is: 2860-31765

Any attempt below or above such levels will be considered as an attempted break from balance and balance rules will consequently apply.

Now, I suggest to take into serious consideration the fact that both Pit October low at 2860 and current Pit November low at 2890 are both poor: it will be a very rare circumstance if we will see price going seriously higher without removing at least one of them. So if you see price going higher carry forward this info.

About upcoming GB session take care of the following major refs:

  1. GB October open 2941
  2. GB October close 29315
  3. GB September close 29185
  4. GB November open 29085
  5. GB yesterday close 2899

If you will see a clear acceptation above them you may imagine to go and take out at least 29885 weaknesses (remembering the possible resistance at previous GB spike 2981). At the opposite if you will see acceptation below them you may imagine to go and test 2819 GB October low.

Always consider current price location, very close to major yearly composite poc 2935.

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  • #7,026
  • Nov 3, 2020 2:53am Nov 3, 2020 2:53am
Quoting Lock
...following major refs: GB October open 2941 GB October close 29315 GB September close 29185 GB November open 29085 GB yesterday close 2899 If you will see a clear acceptation above them you may imagine to go and take out at least 29885 weaknesses (remembering the possible resistance at previous GB spike 2981). At the opposite if you will see acceptation below them you may imagine to go and test 2819 GB October low. Always consider current price location,...
GB opened, tested immediately our first major ref 2941, found nothing below it, and here we are just 4 pips below 2981. Let's see if 2981 will be reached and if it will oppose resistance. Then if it will be able or not to correct 29885.

Now, in order to continue any higher we need acceptation above 2981 and 29885. In such a case we can aim at 30255. If not, balance or return to the mean 2935-

Remember that we are leaving downside major pit unsolved weaknesses (November and October poor lows 2890 and 2860) and that GB never tested its October low. Note also that we left downside a new very little GB gap from yesterday GB high 29365 to current GB low 2938

Note also that we are not anymore in a daily trend downside: we are now in a full balance, monthly, weekly and daily.
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  • #7,027
  • Nov 3, 2020 2:59am Nov 3, 2020 2:59am
Quoting Lock
{quote} GB opened, tested immediately our first major ref 2941, found nothing below it, and here we are just 4 pips below 2981. Let's see if 2981 will be reached and if it will oppose resistance. Then if it will be able or not to correct 29885. Now, in order to continue any higher we need acceptation above 2981 and 29885. In such a case we can aim at 30255. If not, balance or return to the mean 2935- Remember that we are leaving downside major pit unsolved weaknesses (November and October poor lows 2890 and 2860)...
2981 tagged.
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  • #7,028
  • Nov 3, 2020 3:25am Nov 3, 2020 3:25am
C possible inside period: if so balance rules apply
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  • #7,029
  • Nov 3, 2020 3:44am Nov 3, 2020 3:44am
Quoting Lock
C possible inside period: if so balance rules apply
Attempted rally above C inside period high: monitor for acceptation or rejection above 2981 (and 29885 if reached)
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  • #7,030
  • Nov 3, 2020 3:48am Nov 3, 2020 3:48am
Quoting Lock
{quote} Attempted rally above C inside period high: monitor for acceptation or rejection above 2981 (and 29885 if reached)
29885 weak stops taken out: if acceptation above 2981 and 29885 we could see 30225. If rejection above them return to the mean or even liquidation toward 2935
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  • #7,031
  • Nov 3, 2020 3:52am Nov 3, 2020 3:52am
Please, subscribe me if you like my work here.
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  • #7,032
  • Nov 3, 2020 3:59am Nov 3, 2020 3:59am
3000 is September GB inside week high: take care of it if reached. Monitor for possible acceptation above it.
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  • #7,033
  • Nov 3, 2020 4:00am Nov 3, 2020 4:00am
Quoting Lock
Please, subscribe me if you like my work here.
Done boss
  • #7,034
  • Nov 3, 2020 4:45am Nov 3, 2020 4:45am
E inside period again: again balance rules apply.
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  • #7,035
  • Nov 3, 2020 4:47am Nov 3, 2020 4:47am
Also have a look at D period single letters: for any substantial continuation upside you do not want to see them taken out. Any meaningful continuation upside needs in fact a double distribution and if price will return along those single letters you'll have a single distribution.
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  • #7,036
  • Nov 3, 2020 5:04am Nov 3, 2020 5:04am
Quoting Lock
E inside period again: again balance rules apply.
F period failed below E period low and here we are at the opposite side of E period: balance rules applied.
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  • #7,037
  • Nov 3, 2020 5:05am Nov 3, 2020 5:05am
Quoting Lock
3000 is September GB inside week high: take care of it if reached. Monitor for possible acceptation above it.
Here we are at 3000: monitor for acceptation or rejection above it.
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  • #7,038
  • Nov 3, 2020 5:07am Nov 3, 2020 5:07am
Quoting Lock
Also have a look at D period single letters: for any substantial continuation upside you do not want to see them taken out. Any meaningful continuation upside needs in fact a double distribution and if price will return along those single letters you'll have a single distribution.
Did you see that the F period left 1 single letter clean of D period? It is a nuance but a significant one.
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  • #7,039
  • Nov 3, 2020 5:15am Nov 3, 2020 5:15am
Quoting Lock
{quote} Here we are at 3000: monitor for acceptation or rejection above it.
nice run upstairs
  • #7,040
  • Nov 3, 2020 5:20am Nov 3, 2020 5:20am
I don't know if I'll be present during preUS and Pit. Probably I will like to stay out until tomorrow. Let's see. For now have a nice continuation. I hope you enjoyed today notes as it has been almost a textbook. Best.
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