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Lock's Cable Corner

  • #7,141
  • Nov 5, 2020 2:45am Nov 5, 2020 2:45am
Before GB open I wrote:

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!
Now this is not some sort of magic trick, it's only market generated information.
Ubi maior minor cessat
  • #7,142
  • Nov 5, 2020 2:57am Nov 5, 2020 2:57am
if we will not see acceptation above yes close 30195 we could see liquidation
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  • #7,143
  • Nov 5, 2020 2:58am Nov 5, 2020 2:58am
Is B a possible inside period? If so balance rules apply
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  • #7,144
  • Nov 5, 2020 3:18am Nov 5, 2020 3:18am
Quoting Lock
Is B a possible inside period? If so balance rules apply
B inside period, C attempted below it, failed and here we are at the opposite side of B. Poor high
Ubi maior minor cessat
  • #7,145
  • Nov 5, 2020 3:20am Nov 5, 2020 3:20am
Quoting Lock
if we will not see acceptation above yes close 30195 we could see liquidation
But, whatever: monitor for acceptation or rejection above 30195: it is crucial right now.
Ubi maior minor cessat
  • #7,146
  • Nov 5, 2020 3:30am Nov 5, 2020 3:30am
Quoting Lock
{quote} But, whatever: monitor for acceptation or rejection above 30195: it is crucial right now.
We got it. Plus back to back poor highs: 30355 and 3051
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  • #7,147
  • Nov 5, 2020 3:31am Nov 5, 2020 3:31am
dear lock that is clear 30195 acceptation?
  • #7,148
  • Nov 5, 2020 3:32am Nov 5, 2020 3:32am
In a normal day such weak position will be taken out in milliseconds. This market is very very risky as we have a mess left downside. So, even in such clear situation be very cautious.
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  • #7,149
  • Nov 5, 2020 3:33am Nov 5, 2020 3:33am
Quoting brewmaster
dear lock that is clear 30195 acceptation?
We have 2 period closed above such level so yes we have acceptation, plus we have reasons to continue higher. But watch out as written.
Ubi maior minor cessat
  • #7,150
  • Nov 5, 2020 3:34am Nov 5, 2020 3:34am
30405 is overnight high: if something wrong can happen is there. Very risky market.
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  • #7,151
  • Nov 5, 2020 3:39am Nov 5, 2020 3:39am
Quoting Lock
30405 is overnight high: if something wrong can happen is there. Very risky market.
Here we are, I'm in. Very risky anyhow. Watch out. Be prepared if something will go wrong for strange it could may look right now.
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  • #7,152
  • Nov 5, 2020 4:16am Nov 5, 2020 4:16am
Quoting Lock
{quote} We got it. Plus back to back poor highs: 30355 and 3051
first one taken out second only tagged: watch out!!! now this options:

Quoting Lock
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
  • #7,153
  • Nov 5, 2020 4:20am Nov 5, 2020 4:20am
you are out lock?
  • #7,154
  • Nov 5, 2020 4:35am Nov 5, 2020 4:35am
Quoting brewmaster
you are out lock?
2/3 out as I'm scare to death due to current environment. But it could be more space if we find acceptation above 3050. If not as written we have huge opportunities in the opposite direction. I try to take this market a piece at a time.
Ubi maior minor cessat
  • #7,155
  • Nov 5, 2020 4:36am Nov 5, 2020 4:36am
Quoting Lock
{quote} first one taken out second only tagged: watch out!!! now this options: {quote}
I am done at 3151 waiting for next market data
  • #7,156
  • Nov 5, 2020 4:40am Nov 5, 2020 4:40am
Quoting brewmaster
{quote} I am done at 3151 waiting for next market data
It could be the right choice. It's really a very complex environment.
Ubi maior minor cessat
  • #7,157
  • Nov 5, 2020 4:40am Nov 5, 2020 4:40am
Quoting Lock
{quote} 2/3 out as I'm scare to death due to current environment. But it could be more space if we find acceptation above 3050. If not as written we have huge opportunities in the opposite direction. I try to take this market a piece at a time.
Same here I kept some in case acceptation above 3050, but deep inside i prefer to short
  • #7,158
  • Nov 5, 2020 4:43am Nov 5, 2020 4:43am
Btw, if you like my notes, please subscribe me.
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  • #7,159
  • Nov 5, 2020 4:46am Nov 5, 2020 4:46am
Now, we removed also the stops from Wednesday Tokyo liquidation (above 3056). If there's something serious up here we should see acceleration up to 3079. If not we should see price back inside yesterday GB range.
Ubi maior minor cessat
  • #7,160
  • Nov 5, 2020 4:50am Nov 5, 2020 4:50am
Quoting Lock
Now, we removed also the stops from Wednesday Tokyo liquidation (above 3056). If there's something serious up here we should see acceleration up to 3079. If not we should see price back inside yesterday GB range.
I wrote 3079 as it is current pit November high (and a poor high) So let's see. An other important thing could be yesterday pit session high at 3023: if for some reason we will see price above that level at pit open we will have a new pit gap upside.
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