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Lock's Cable Corner

  • #7,041
  • Nov 3, 2020 5:40am Nov 3, 2020 5:40am
Quoting Lock
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.
I made some pips today will stay flat
will follow election news
it was great to see some levels go my way today
Until next time
  • #7,042
  • Nov 3, 2020 8:36am Nov 3, 2020 8:36am
just for info:

  1. new huge pit gap upside from yesterday pit high 29195
  2. old pit gap downside from Friday low to Yesterday high is now a double pass gap: 29195-2923
  3. pit opened just below major ref 30075 September pit inside week high
  4. we are quite close to pit poor high 30135 that is the lower limit of previous gap downside up to 3027
  5. we left downside 2 major weaknesses at 2890 and 2860

the situation of pit is the same of GB: monthly, weekly and daily balance where pit inside month range is 2860-31765

Ubi maior minor cessat
  • #7,043
  • Nov 3, 2020 8:52am Nov 3, 2020 8:52am
In case of liquidation after a possible failure upside note that October unch is at 29505. Old poor high 30135 taken out. The old gap is up to 3027
Ubi maior minor cessat
  • #7,044
  • Nov 3, 2020 9:08am Nov 3, 2020 9:08am
Above us, in case of acceptation above old gap high 3027 we only have 3064. Very elongated and poor pit profile. Very risky environment without some sort of correction.
Ubi maior minor cessat
  • #7,045
  • Nov 3, 2020 9:15am Nov 3, 2020 9:15am
I see only 3064 as possible, unless it want to test last week pit high at 30795....or even October high. But in any case all what you saw today has to be recovered next sessions. Two back to back monthly poor lows are extraordinary rare. (2890 and 2860)

Very very weak and elongated pit profile.
Ubi maior minor cessat
  • #7,046
  • Nov 3, 2020 9:33am Nov 3, 2020 9:33am
Monitor for acceptation or rejection above weekly unch 30445. If acceptation we can aim again at 3064 and even last week pit high 30795. If rejection above it I imagine balance or correction toward 30075.
Ubi maior minor cessat
  • #7,047
  • Nov 3, 2020 9:52am Nov 3, 2020 9:52am
Quoting Lock
Monitor for acceptation or rejection above weekly unch 30445. If acceptation we can aim again at 3064 and even last week pit high 30795. If rejection above it I imagine balance or correction toward 30075.
Acceptation above 30445 and here we are at 3064: acceptation above it needed to test 30795 last week pit high.
Ubi maior minor cessat
  • #7,048
  • Nov 3, 2020 9:57am Nov 3, 2020 9:57am
Please subscribe me if you like my notes. Thank you.
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  • #7,049
  • Nov 3, 2020 10:00am Nov 3, 2020 10:00am
If you will not see acceptation above 3064 or 30795 (if reached) expect a correction toward 30445.
Ubi maior minor cessat
  • #7,050
  • Nov 3, 2020 10:58am Nov 3, 2020 10:58am
Quoting Lock
If you will not see acceptation above 3064 or 30795 (if reached) expect a correction toward 30445.
It eventually failed exactly at 30795 and here we are back to 30445 with one single period as expected. Note that current high is poor (as it is a double tag) and weak as it is a perfect tag of a previous week high. So current liquidation* is correcting the poor structure left below, but carry forward the weakness left above at 30795.

*For current liquidation we have huge space downside, but take this market a piece at a time.
Ubi maior minor cessat
  • #7,051
  • Nov 3, 2020 11:57am Nov 3, 2020 11:57am
Now, I really don't know how upcoming news could eventually influence current situation but if you read the initial post I wrote this morning and the other one I wrote when pit session opened you can have a better idea of different possibilities we can have. I can add now to previous considerations, the new info about current pit high, that is weak and poor at 30795.

As weak and poor are the 2 back to back pit lows (October 2860 and November 2890)

On a minor scale I think current liquidation have still space downside as pit structure is ugly at least down to 30215.
Ubi maior minor cessat
  • #7,052
  • Nov 3, 2020 12:01pm Nov 3, 2020 12:01pm
...ps the more they buy at 3041 the less this level could resist as it is half back of current pit session
Ubi maior minor cessat
  • #7,053
  • Nov 3, 2020 12:13pm Nov 3, 2020 12:13pm
Quoting Lock
...ps the more they buy at 3041 the less this level could resist as it is half back of current pit session
At the same time I do not expect a home run from here as generally when a level is so tested there's no much continuation when eventually forced. And there is also that very poor high that ask for revenge... SO watch out.
Ubi maior minor cessat
  • #7,054
  • Nov 3, 2020 12:30pm Nov 3, 2020 12:30pm
H inside period: balance rules apply.
Ubi maior minor cessat
  • #7,055
  • Nov 3, 2020 12:35pm Nov 3, 2020 12:35pm
Well, too tired. Have a nice trading.
Ubi maior minor cessat
  • #7,056
  • Nov 3, 2020 1:33pm Nov 3, 2020 1:33pm
So, back to 2950?
Twitter: Rummer_grapes
  • #7,057
  • Nov 4, 2020 12:06am Nov 4, 2020 12:06am
Quoting Lock
{quote} Acceptation above 3064 and here we are 2 pips below 30795 last week pit high test: if failure all the way back to 30445. If, again, acceptation, we can see a possible attempt toward 3152 weaknesses. (but considering the structure left below this will be very very risky)
Quoting Lock
Now, I really don't know how upcoming news could eventually influence current situation butif you read the initial post I wrote this morning and the other one I wrote when pit session opened you can have a better idea of different possibilities we can have. I can add now to previous considerations, the new info about current pit high, that is weak and poor at 30795. As weak and poor are the 2 back to back pit lows (October 2860 and November 2890) On a minor scale I think current liquidation have still space...
Quoting Lock
...ps the more they buy at 3041 the less this level could resist as it is half back of current pit session
Quoting Lock
{quote} At the same time I do not expect a home run from here as generally when a level is so tested there's no much continuation when eventually forced. And there is also that very poor high that ask for revenge... SO watch out.
So from my last post what expected occurred: price eventually managed to broke below 3041 very weak level, went down to 30215 where it balanced for a while (no home run downside as expected) and then eventually retraced back upside toward the very weak and poor high at 3079.
Sydney opened, continue the last pit periods job taking out 3079* and continue higher toward 3152 weaknesses: note that it left them intact stopping just one pip below 3142 that is now extremely weak (take note)
After that it liquidated everything going back to the mean exactly at major yearly composite poc 2935 of which I had written in my first post of the day.

Now I was not in this mess, as I work from Italy, but at least I can say that nothing of what happened is out of the levels I considered during the day. And if you see price location now, 2 hours before GB open, you will notice that we are inside yesterday GB range: a lot of action but nothing changed.
Ubi maior minor cessat
  • #7,058
  • Nov 4, 2020 12:18am Nov 4, 2020 12:18am
Now, I suggest to read again my first post of yesterday as nothing changed from that bigger perspective. We still didn't tested October lows (GB and Pit) nor we tested October highs (GB and Pit) and we are in a monthly balance with October as an inside month: if something has to seriously happen it will be at one of the extremes of October.

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

To that first post I must add some data here:

  1. 3079 yesterday pit poor high is still poor as only a pit session can take it out: Tonight Sydney rally didn't solve it at all.
  2. Secondly, yesterday Sydney rally tagged 3142 (1 pip below it) and didn't manage to even reach the cluster of stops at 3152: so this remained unsolved.
  3. Yesterday GB close is at 3049
  4. The mini GB gap from Monday high to Yesterday low at 29365-2938 is still in place.
  5. Yesterday GB range is 2938-3005. And 3005 is just some pips above our major September ref 3000 (the top of the GB September inside week)

Finally I suggest to note that all but one of our major references are below current price location. And we have two major weaknesses at 2990 and 2960 still intact (I'm speaking about October and November pit poor lows)

Ubi maior minor cessat
  • #7,059
  • Nov 4, 2020 12:52am Nov 4, 2020 12:52am
Quoting Lock
.... To that first post I must add some data here: 3079 yesterday pit poor high is still poor as only a pit session can take it out: Tonight Sydney rally didn't solve it at all. ... And we have two major weaknesses at 2990 and 2960 still intact (I'm speaking about October and November pit poor lows)
Why considering 3079 is still so important for upcoming pit sessions? Because currently it is the top of November pit action, and is poor. As poor is current November pit action lower extreme at 2890. So currently we have a November pit month poor at both its extremes. and current November range (2890-3079) is inside October pit range (2860-31765) which is, again, inside previous month range. So we are in a full, unsolved balance action.
Ubi maior minor cessat
  • #7,060
  • Nov 4, 2020 1:05am Nov 4, 2020 1:05am
I found out your note very useful for scalping although I dont know any thing about Profile market. Do you have any learning guide?
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