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Lock's Cable Corner

  • #7,061
  • Nov 4, 2020 2:02am Nov 4, 2020 2:02am
Quoting luizng
I found out your note very useful for scalping although I dont know any thing about Profile market. Do you have any learning guide?
Yes, this thread.
Ubi maior minor cessat
  • #7,062
  • Nov 4, 2020 2:04am Nov 4, 2020 2:04am
Quoting Lock
...The mini GB gap from Monday high to Yesterday low at 29365-2938 is still in place. 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)
29365-2938 filled. Note also the test of yesterday GB low 2938 and the test of October GB open level 2941: for continuation upside you want acceptation above these levels. If not we could see more downside.
Ubi maior minor cessat
  • #7,063
  • Nov 4, 2020 2:10am Nov 4, 2020 2:10am
Now, as a recap. Downside we have:

  1. 29315 GB October close
  2. 29185 GB September close
  3. 29085 GB November open
  4. 2850 GB November low
  5. 28485 GB prev week low
  6. and finally 2819 GB October low (main level)

They are all supports. Any test downside need acceptation below previous level: so take this market a piece at a time.

Ubi maior minor cessat
  • #7,064
  • Nov 4, 2020 2:12am Nov 4, 2020 2:12am
and btw 2915 is yesterday Tokyo poor low. This can be considered only a possible target, not a main ref.
Ubi maior minor cessat
  • #7,065
  • Nov 4, 2020 2:13am Nov 4, 2020 2:13am
Be aware of the fact that we are in a full balance environment: monthly, weekly and daily. Take care.
Ubi maior minor cessat
  • #7,066
  • Nov 4, 2020 2:15am Nov 4, 2020 2:15am
testing 29185 GB sept close
Ubi maior minor cessat
  • #7,067
  • Nov 4, 2020 2:16am Nov 4, 2020 2:16am
Quoting Lock
and btw 2915 is yesterday Tokyo poor low. This can be considered only a possible target, not a main ref.
yes tokyo low only tagged: very weak now
Ubi maior minor cessat
  • #7,068
  • Nov 4, 2020 2:25am Nov 4, 2020 2:25am
Quoting Lock
and btw 2915 is yesterday Tokyo poor low. This can be considered only a possible target, not a main ref.
If taken out, as probable, next level to test is 29085. But watch out as current test of 29185 is not finished yet. Take care mostly of main levels and disregard possible targets.
Ubi maior minor cessat
  • #7,069
  • Nov 4, 2020 2:41am Nov 4, 2020 2:41am
Quoting Lock
{quote} If taken out, as probable, next level to test is 29085. But watch out as current test of 29185 is not finished yet. Take care mostly of main levels and disregard possible targets.
As you see. I repeat it: focus only on main levels: acceptation above or below them. For now we do not have acceptation above or below any of our main levels. The only closed period is below 2941. Let's wait for the second one to have a clue about current situation.
Ubi maior minor cessat
  • #7,070
  • Nov 4, 2020 2:44am Nov 4, 2020 2:44am
note anyhow that for now we saw no acceptation at all below 29315 nor below 29185. Let's see where B period will close.
Ubi maior minor cessat
  • #7,071
  • Nov 4, 2020 2:46am Nov 4, 2020 2:46am
dear lock, how to confirm acceptation? multiple close on the area?
  • #7,072
  • Nov 4, 2020 2:58am Nov 4, 2020 2:58am
B possible inside period? If so balance rules apply
Ubi maior minor cessat
  • #7,073
  • Nov 4, 2020 3:00am Nov 4, 2020 3:00am
Quoting Lock
note anyhow that for now we saw no acceptation at all below 29315 nor below 29185. Let's see where B period will close.
B period closed below 29315
Ubi maior minor cessat
  • #7,074
  • Nov 4, 2020 3:11am Nov 4, 2020 3:11am
Quoting Lock
B possible inside period? If so balance rules apply
Noe C period attempted below B inside period low, failed and all the way back to opposite side of B. But still conflictin g info here as we got 2 period closed below 2941
Ubi maior minor cessat
  • #7,075
  • Nov 4, 2020 3:16am Nov 4, 2020 3:16am
please note: if you see your open position levels around 2935: you are doing wrong as it is the major poc. Your positions should be opened above or below it. To open a position around poc is the most possible risky option a trader could have...
Ubi maior minor cessat
  • #7,076
  • Nov 4, 2020 3:32am Nov 4, 2020 3:32am
recap:
current high at 2951 is poor.
C period high at open 29475 is weak
current low at yesterday Tokyo poor low 2915 is very weak
price is up and down major yearly composite poc 2935
no acceptation so far below 29315 and 29185 our major levels here.

So what? Only weak money involved so far, full balance. That's all. So be cautious and wait.
Ubi maior minor cessat
  • #7,077
  • Nov 4, 2020 3:47am Nov 4, 2020 3:47am
If this rally from balance is consistent and not fake I see 2995 as a possible first target.
Ubi maior minor cessat
  • #7,078
  • Nov 4, 2020 3:52am Nov 4, 2020 3:52am
Quoting Lock
If this rally from balance is consistent and not fake I see 2995 as a possible first target.
But remember what we are leaving downside and the fact that we still have not tested October limits: before that moment we are in a full balance environment. Next level upside to test for GB should be 3000 (September GB inside week high) SOme sort of reaction could also occur at old spike base 2981: acceptation above it needed to get 2995 target.

If something will go wrong upside you know exactly where price will retrace back.
Ubi maior minor cessat
  • #7,079
  • Nov 4, 2020 3:59am Nov 4, 2020 3:59am
Quoting Lock
Now, as a recap. Downside we have: 29315 GB October close 29185 GB September close 29085 GB November open 2850 GB November low 28485 GB prev week low and finally 2819 GB October low (main level) They are all supports. Any test downside need acceptation below previous level: so take this market a piece at a time.
Please also note the importance of market generated information: the base of current rally (D period) is exactly (at the pipette) 29315 our first main reference of this morning post. And by the way, as any exact reference tagged: it is a weak level now.
Ubi maior minor cessat
  • #7,080
  • Nov 4, 2020 4:01am Nov 4, 2020 4:01am
Quoting Lock
{quote} But remember what we are leaving downside and the fact that we still have not tested October limits: before that moment we are in a full balance environment. Next level upside to test for GB should be 3000 (September GB inside week high) SOme sort of reaction could also occur at old spike base 2981: acceptation above it needed to get 2995 target. If something will go wrong upside you know exactly where price will retrace back.
Note the reaction at 2981... Monitor for acceptation or rejection above it.
Ubi maior minor cessat
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