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Lock's Cable Corner

  • #7,261
  • Nov 9, 2020 3:45am Nov 9, 2020 3:45am
Quoting Lock
Now if we found acceptation below GB October high 3149-50 as we already have acceptation below 31565 and 31615 we can see something serious downside. Let's see.
If this is not a fake attempt to gain acceptation back inside GB October range I can imagine as a first step, a test of old spike base 3075. Now, we are before news and everything can happen. So take this market a piece at a time.If something will go wrong downside, next possible ref to test upside is 3194 (only tested this night by Tokyo)
Ubi maior minor cessat
  • #7,262
  • Nov 9, 2020 3:49am Nov 9, 2020 3:49am
Hi there,

First time on your thread . My thoughts are that we're going to see 1.2925 (hope today when is the news). Keep my fingers crossed, because have some positions opened and that is the tp. It was a small gap over there and has to be tested. Just my 2 cents Green pips!
  • #7,263
  • Nov 9, 2020 3:53am Nov 9, 2020 3:53am
Quoting bino.signals
Hi there, First time on your thread . My thoughts are that we're going to see 1.2925 (hope today when is the news). Keep my fingers crossed, because have some positions opened and that is the tp. It was a small gap over there and has to be tested. Just my 2 cents Green pips!
First of all you're welcome. All lower structure down to at least 2836 is totally weak, so, if this re-enter in October range is serious (failed rally upside from October balance) the natural target is October low 2819) Anyhow I suggest to take this market a piece at a time. And even if it will go down there I've no idea of how much time it will employ to do the job.
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  • #7,264
  • Nov 9, 2020 3:59am Nov 9, 2020 3:59am
Some minor refs : 31155 is last Thursday GB close. Around 3100 there is Friday GB low. Acceptation below them both needed for continuation.
Ubi maior minor cessat
  • #7,265
  • Nov 9, 2020 4:01am Nov 9, 2020 4:01am
Quoting Lock
Some minor refs: 31155 is last Thursday GB close. Around 3100 there is a Friday GB low. Acceptation below them both needed for continuation.
Yup, you're right. It's Friday low, but keep in mind that gbpusd hasn't broken any lows for the last 3 days (this is what I use for reference). And almost every time when you have Day 1Hi/Day2 Hi/ Day 3Hi and the price is above them and above prev monthly high there's a very high chance for something big. Just put on your chart for the last 3 days Hi/Lo maybe with other colours for every day for ref.
  • #7,266
  • Nov 9, 2020 4:02am Nov 9, 2020 4:02am
Take also note of the fact that current November high has been made by Tokyo at exact round number 3200: not a very strong environment. So carry forward this info if something will go wrong downside. If you're short, as I am, stops should be placed somewhere above major refs already accepted.
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  • #7,267
  • Nov 9, 2020 4:04am Nov 9, 2020 4:04am
Oh, and another thing. Today we have high news on GBP. Given this fact, I'm kind of confident that will drop and fill the gap from 1.2916 happened on 3rd Nov at the opening.
  • #7,268
  • Nov 9, 2020 4:05am Nov 9, 2020 4:05am
Yes, I'm short Last short I had at 1.3168
  • #7,269
  • Nov 9, 2020 4:09am Nov 9, 2020 4:09am
Quoting bino.signals
Yes, I'm short Last short I had at 1.3168
same here I will cover it if there's acceptation above 3150
  • #7,270
  • Nov 9, 2020 4:10am Nov 9, 2020 4:10am
Quoting bino.signals
{quote} Yup, you're right. It's Friday low, but keep in mind that gbpusd hasn't broken any lows for the last 3 days (this is what I use for reference). And almost every time when you have Day 1Hi/Day2 Hi/ Day 3Hi and the price is above them and above prev monthly high there's a very high chance for something big. Just put on your chart for the last 3 days Hi/Lo maybe with other colours for every day for ref.
Something big downside is very possible as written because we got a very poor structure below current level and apparently we saw GB attempt above October high failed. But watch out as those who performed this test upside are not strong and the response up there was not strong too. So let's see. Take this market a piece at a time. If it will continue follow it. If not, do the opposite.
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  • #7,271
  • Nov 9, 2020 4:12am Nov 9, 2020 4:12am
Quoting bino.signals
Oh, and another thing. Today we have high news on GBP. Given this fact, I'm kind of confident that will drop and fill the gap from 1.2916 happened on 3rd Nov at the opening.
Do not be confident, it's may suggestion. Do not marry with your positions. Follow market generated info. Whatever they are.
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  • #7,272
  • Nov 9, 2020 4:15am Nov 9, 2020 4:15am
If I go back into a balance from which I just attempted to break out, I want to see acceleration to the opposite side of that balance. I do not want to see price stalling at the top of it.
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  • #7,273
  • Nov 9, 2020 4:16am Nov 9, 2020 4:16am
Time is a very important factor to monitor for acceptation of a certain price area. Take note.
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  • #7,274
  • Nov 9, 2020 4:19am Nov 9, 2020 4:19am
Quoting Lock
{quote} Do not be confident, it's may suggestion. Do not marry with your positions. Follow market generated info. Whatever they are.
Definitely good advice! Happy to be here on this thread! Let's have patience and the market will let some traces to be followed.
  • #7,275
  • Nov 9, 2020 4:26am Nov 9, 2020 4:26am
E possible inside period: balance rules apply if so.
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  • #7,276
  • Nov 9, 2020 5:43am Nov 9, 2020 5:43am
Quoting Lock
E possible inside period: balance rules apply if so.
Applied: failure above inside period E and here we are at the opposite side of it. Now: even though this will continue lower, note that current GB session value cannot going below Friday GB session value*. Take note.

*as we have only two periods left to unfold and we have a poc of 5 letters around 3145
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  • #7,277
  • Nov 9, 2020 5:46am Nov 9, 2020 5:46am
Quoting Lock
{quote} Applied: failure above inside period E and here we are at the opposite side of it. Now: even though this will continue lower, note that current GB session value cannot going below Friday GB session value*. Take note. *as we have only two periods left to unfold and we have a poc of 5 letters around 3145

...market generated information...
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  • #7,278
  • Nov 9, 2020 5:48am Nov 9, 2020 5:48am
And now we got 2 periods high at Half back 3155...
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  • #7,279
  • Nov 9, 2020 5:49am Nov 9, 2020 5:49am
And B and C highs are both at exact 31615...
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  • #7,280
  • Nov 9, 2020 5:51am Nov 9, 2020 5:51am
Market generated info sometimes is very impressive, I must admit it.
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