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Lock's Cable Corner

  • #7,101
  • Nov 4, 2020 9:23am Nov 4, 2020 9:23am
Quoting Lock
Please subscribe me if you like my notes. thank you.
Hey Lock, which part of Italy are you at? I sometimes live in Florence.
I will tear the world apart for you.
  • #7,102
  • Nov 4, 2020 9:32am Nov 4, 2020 9:32am
Quoting Lock
So you may ask yourselves: how can we trade in such mess? The answer is easy: do not trade unless things become more clear.
True that I am too nervous to call a shot so just observing the movements
  • #7,103
  • Nov 4, 2020 9:33am Nov 4, 2020 9:33am
Below structure: ugly. But... is the removal of the weak stops around 3051 the current target of this action? MOnitor for acceptation or rejection above 30075, again.
Ubi maior minor cessat
  • #7,104
  • Nov 4, 2020 9:36am Nov 4, 2020 9:36am
Quoting Pixie666
{quote} True that I am too nervous to call a shot so just observing the movements
There's no shame at all in such a decision.
Ubi maior minor cessat
  • #7,105
  • Nov 4, 2020 9:37am Nov 4, 2020 9:37am
Quoting Lock
{quote} sorry didn't see this one: acceptation technically is given by at least 2 periods closed above or below a certain level. But in the real life is more complex. You should reach a level in which you fill it. You need experience for that. An other important factor is how you reach a certain level: is the structure of the move that let price reach that particular level good? Is it not good? Have you reasons to continue any higher or lower? You have to put all these elements together and take from them a clear sign of acceptation or rejection...
thanks lock thats gold
  • #7,106
  • Nov 4, 2020 9:54am Nov 4, 2020 9:54am
Quoting Lock
Below structure: ugly. But... is the removal of the weak stops around 3051 the current target of this action? MOnitor for acceptation or rejection above 30075, again.
Now, as 30075 has been clearly rejected and current C low is at half back I suppose we could have balance or liquidation toward 2950. I cannot exclude a new test of 30075 my consideration comes from the structure below and current poc location.
Ubi maior minor cessat
  • #7,107
  • Nov 4, 2020 10:02am Nov 4, 2020 10:02am
...btw in a day like current one and in such a balance environment it must be clear that any serious exogenous event could revert EVERY kind of previous action: all current market participants are weak, so almost any established level is currently weak. To trade in such environment is extraordinary risky: you can trade but you got to be aware of the potential risk involved into it.
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  • #7,108
  • Nov 4, 2020 10:07am Nov 4, 2020 10:07am
Now note both C and D period lows at HB 2984...
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  • #7,109
  • Nov 4, 2020 10:08am Nov 4, 2020 10:08am
Quoting Lock
Now note both C and D period lows at HB 2984...
taken out as normal...
Ubi maior minor cessat
  • #7,110
  • Nov 4, 2020 10:11am Nov 4, 2020 10:11am
Quoting Lock
{quote} Now, as 30075 has been clearly rejected and current C low is at half back I suppose we could have balance or liquidation toward 2950. I cannot exclude a new test of 30075 my consideration comes from the structure below and current poc location.
If we get acceptation below 2972 we can have the full liquidation to 2950, if not, balance slightly above here
Ubi maior minor cessat
  • #7,111
  • Nov 4, 2020 10:36am Nov 4, 2020 10:36am
Quoting Lock
{quote} If we get acceptation below 2972 we can have the full liquidation to 2950, if not, balance slightly above here
No acceptation below 2972 (for now) and here you have "balance slightly above here"...at least for sometime...
Ubi maior minor cessat
  • #7,112
  • Nov 4, 2020 10:52am Nov 4, 2020 10:52am
2972-30075 is clearly current balance range: whatever occur outside of it will be an attempted break out from balance.
Ubi maior minor cessat
  • #7,113
  • Nov 4, 2020 10:57am Nov 4, 2020 10:57am
Quoting Lock
2972-30075 is clearly current balance range: whatever occur outside of it will be an attempted break out from balance.
attempted rally above 30075, if good, 3051 is sure. If fail back to the opposite side of balance.
Ubi maior minor cessat
  • #7,114
  • Nov 4, 2020 11:01am Nov 4, 2020 11:01am
30195 today GB close level: take note for tomorrow. We have no more GB participants involved from now on until pit close.
Ubi maior minor cessat
  • #7,115
  • Nov 4, 2020 11:05am Nov 4, 2020 11:05am
don't look at price, look at value. Monitor for acceptation or rejection above 30075
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  • #7,116
  • Nov 4, 2020 11:27am Nov 4, 2020 11:27am
Quoting Lock
2972-30075 is clearly current balance range: whatever occur outside of it will be an attempted break out from balance.
Quoting Lock
{quote} attempted rally above 30075, if good, 3051 is sure. If fail back to the opposite side of balance.
so... attempted break above 30075, fail, back to the opposite side of balance....
Anyway, I'm off for today. Too tired. Have a nice continuation. Best.
Ubi maior minor cessat
  • #7,117
  • Nov 5, 2020 12:28am Nov 5, 2020 12:28am
Quoting Lock
2972-30075 is clearly current balance range: whatever occur outside of it will be an attempted break out from balance.

Quoting Lock
{quote} {quote} so... attempted break above 30075, fail, back to the opposite side of balance.... Anyway, I'm off for today. Too tired. Have a nice continuation. Best.
that it made after some further balance (2972)...
Ubi maior minor cessat
  • #7,118
  • Nov 5, 2020 1:00am Nov 5, 2020 1:00am
So, absolutely nothing changed from previous days. We are in a monthly, weekly and daily balance.
The main thing remains the monthly balance both in GB and Pit sessions.
Here then I repeat October range:
GB sessions October range is: 2819-3150
while for pit sessions is: 2860-31765

For upcoming GB session main refs inside October range are (from top to bottom):

  1. 3051 yesterday GB poor high (also November GB poor high!)
  2. 30195 yesterday GB close
  3. 3000 September GB inside week high
  4. 2948 yesterday GB open
  5. 2941 GB October open
  6. 29315 GB October close
  7. 29185 GB September close
  8. 2915 yesterday Tokyo poor low Back to back with yes GB low
  9. 29085 GB November open

So, note that they are almost all contained in a very narrow space (the last 5 refs are within a range of only 50 pips). All of them could work as support or resistance. So, take this market a piece at a time and evaluate acceptation or rejection above or below them each time you will see price reach one of them.

Consider that Pit extremes of current November month are weak and poor 2890-3079 while GB has a poor November high at 3051.
But on a wider perspective all what you have down toward 2836 (old Tokyo poor low) and upside toward 3151 zone is totally weak and price can go up and down to remove them before to take a direction.

Remember that If something serious has to happen (attempted break of current monthly balance) it is at October GB extremes 2819-3150 or at October Pit extremes 2860-31765

Ubi maior minor cessat
  • #7,119
  • Nov 5, 2020 1:06am Nov 5, 2020 1:06am
Unless something extraordinary will occur in the last 2 Tokyo periods GB open will be inside yesterday GB range (2915-3051): balance is expected in such case, at least initially.
Ubi maior minor cessat
  • #7,120
  • Nov 5, 2020 1:23am Nov 5, 2020 1:23am
Well, start to appreciate the importance of market generated info: current Tokyo test is exactly from GB October open 2941 to yesterday GB close 30195...
What does it means? It means that yesterday values are currently accepted bu Tokyo participants.
Ubi maior minor cessat
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