Lock's Cable Corner | Page 357 | 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

  • #7,121
  • Nov 5, 2020 1:26am Nov 5, 2020 1:26am
and it's also cleaning the last 5 sessions stops (those who sold above last 5 mixed sessions)
Ubi maior minor cessat
  • #7,122
  • Nov 5, 2020 1:32am Nov 5, 2020 1:32am
Now, let's imagine GB will open around here, close to yesterday GB close at 30195: so what?
Well, in such a case nothing will be changed from yesterday... At all.
Ubi maior minor cessat
  • #7,123
  • Nov 5, 2020 1:40am Nov 5, 2020 1:40am
Quoting Lock
and it's also cleaning the last 5 sessions stops (those who sold above last 5 mixed sessions)
Yes that's clear, but the stops above 3051 still intact, will price go there soon
  • #7,124
  • Nov 5, 2020 1:47am Nov 5, 2020 1:47am
Quoting brewmaster
{quote} Yes that's clear, but the stops above 3051 still intact, will price go there soon
It's very possible but: I strongly suggest to take this market a piece at a time. Be prepared, wait for acceptation or rejection above or below main refs. In a market like this one absolutely anything can happen. You can see 100 pips in a matter of seconds and averything is weak both above and below current price location.
Ubi maior minor cessat
  • #7,125
  • Nov 5, 2020 1:48am Nov 5, 2020 1:48am
Furthermore we are inside yesterday GB range, very close to yesterday GB close level: it means that participants have accepted yesterday prices. In such a condition, especially after a spike like this, balance is mostly expected. At least initially. So watch out!
Ubi maior minor cessat
  • #7,126
  • Nov 5, 2020 1:51am Nov 5, 2020 1:51am
Quoting Lock
Furthermore we are inside yesterday GB range, very close to yesterday GB close level: it means that participants have accepted yesterday prices. In such a condition, especially after a spike like this, balance is mostly expected. At least initially. So watch out!
U keep on monitoring 1min ?
  • #7,127
  • Nov 5, 2020 1:54am Nov 5, 2020 1:54am
If we are going to open here, in order to understand the possible acquisition of 3051, let's take into serious consideration next closest levels: 3000 and 30195: if rejection below them 3051 is very possible, if acceptation below them we can instead imagine more balance or even some sort of correction.
Ubi maior minor cessat
  • #7,128
  • Nov 5, 2020 1:55am Nov 5, 2020 1:55am
Quoting brewmaster
{quote} U keep on monitoring 1min ?
Absolutely not: my smallest chart is 30m: and I strongly suggest to not use anything less than this.
Ubi maior minor cessat
  • #7,129
  • Nov 5, 2020 1:59am Nov 5, 2020 1:59am
acceptation above 1.30195 ?
  • #7,130
  • Nov 5, 2020 2:01am Nov 5, 2020 2:01am
GB opened one single pip above yesterday GB close 30195: you must get the importance of market generated information here.
Ubi maior minor cessat
  • #7,131
  • Nov 5, 2020 2:02am Nov 5, 2020 2:02am
Quoting brewmaster
acceptation above 1.30195 ?
Not at all: GB opened at exact same price it left yesterday: nothing changed. This is the only info we open with.
Ubi maior minor cessat
  • #7,132
  • Nov 5, 2020 2:03am Nov 5, 2020 2:03am
Quoting Lock
If we are going to open here, in order to understand the possible acquisition of 3051, let's take into serious consideration next closest levels: 3000 and 30195: if rejection below them 3051 is very possible, if acceptation below them we can instead imagine more balance or even some sort of correction.
And note the almost immediately test of 3000...
Ubi maior minor cessat
  • #7,133
  • Nov 5, 2020 2:04am Nov 5, 2020 2:04am
An other level of interest that yesterday played some role is 2981. In the case we see price below 3000.. For now monitor for acceptation or rejection below 30195 and 3000.
Ubi maior minor cessat
  • #7,134
  • Nov 5, 2020 2:09am Nov 5, 2020 2:09am
Quoting Lock
{quote} And note the almost immediately test of 3000...
When it didn't even touch 3000 that's a licit buy for fast traders. In such a case you have not so much to risk as you may place your stops just below 3000. If you'll be wrong you're loosing little, if you'll be right you're going to gain 10 times more.
Ubi maior minor cessat
  • #7,135
  • Nov 5, 2020 2:10am Nov 5, 2020 2:10am
Quoting Lock
{quote} When it didn't even touch 3000 that's a licit buy for fast traders. In such a case you have not so much to risk as you may place your stops just below 3000. If you'll be wrong you're loosing little, if you'll be right you're going to gain 10 times more.
That's because if balance this is a possible limit of it downside, if upside you have a good target at 3051. Anyhow, monitor for acceptation above 30195. If so, 3051 is sure. If not all the way back to 3000
Ubi maior minor cessat
  • #7,136
  • Nov 5, 2020 2:12am Nov 5, 2020 2:12am
Quoting Lock
{quote} That's because if balance this is a possible limit of it downside, if upside you have a good target at 3051. Anyhow, monitor for acceptation above 30195. If so, 3051 is sure. If not all the way back to 3000
nice lock spot on!
  • #7,137
  • Nov 5, 2020 2:15am Nov 5, 2020 2:15am
When you see price up and down open multiple time, it clearly means indecision and weak participants. Take note.
Ubi maior minor cessat
  • #7,138
  • Nov 5, 2020 2:22am Nov 5, 2020 2:22am
Quoting Lock
{quote} That's because if balance this is a possible limit of it downside, if upside you have a good target at 3051. Anyhow, monitor for acceptation above 30195. If so, 3051 is sure. If not all the way back to 3000
Btw considering that price almost tagged it (3000) you may surely consider it now as a weak level, what ever the result upside could eventually be. So take note as, if something will go wrong upside such a level will be wiped.
Ubi maior minor cessat
  • #7,139
  • Nov 5, 2020 2:27am Nov 5, 2020 2:27am
Now, if we will see price taking out weak stops above 3051 we will have two options: continue higher toward next ref (that is very higher) 3142-3151 zone or retrace back to lower weaknesses (at least 2915). In both cases a significant opportunity will be present in front of you.
Ubi maior minor cessat
  • #7,140
  • Nov 5, 2020 2:29am Nov 5, 2020 2:29am
...but I see only weak players for now. Still up and down open. It's only balance at this moment in time. Monitor for close position of first period (above or below 30195)
Ubi maior minor cessat
1 trader viewing now