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Lock's Cable Corner

  • #7,421
  • Nov 12, 2020 4:08am Nov 12, 2020 4:08am
Testing major level 3150 (leaving upside ugly incredible structure): whatever the result, see you later. Have a nice trading. Best.
Ubi maior minor cessat
  • #7,422
  • Nov 12, 2020 7:02am Nov 12, 2020 7:02am
Quoting Lock
Testing major level 3150 (leaving upside ugly incredible structure): whatever the result, see you later. Have a nice trading. Best.
So GB spike test its October inside month high 3150 while Pit session opened below its October inside month high 31765: this last one is our main ref for today pit session. If we will see price consolidate below 31765 (pit October inside month high) we can start to think at a possible failure of the attempted rally above monthly balance.

At the opposite if Pit will not find consolidation* below 31765 we can think with great interest at the incredible weaknesses left upside up to 3297 at least.

Current Back to back PreUS GB lows is very weak at 3132 and is followed at brief distance by 3118 a previous weak low made by Pit tagging a Gb low.

*I use a different term instead of acceptation because acceptation is an inside day (or session) term: in this case we are confronting with an attempted monthly break from balance and as such we can see numerous sessions' attempts to come back to balance before to understand if it is a failure or not.
Ubi maior minor cessat
  • #7,423
  • Nov 12, 2020 8:33am Nov 12, 2020 8:33am
Consider D an inside period: balance rules apply.
Ubi maior minor cessat
  • #7,424
  • Nov 12, 2020 9:30am Nov 12, 2020 9:30am
And again F inside period
Ubi maior minor cessat
  • #7,425
  • Nov 12, 2020 9:40am Nov 12, 2020 9:40am
It can go short in the hole...
Ubi maior minor cessat
  • #7,426
  • Nov 12, 2020 9:51am Nov 12, 2020 9:51am
Quoting Lock
{quote} .... Current Back to back PreUS GB lows is very weak at 3132 and is followed at brief distance by 3118 a previous weak low made by Pit tagging a Gb low......
Now it took both 3132 and 3118, job done: watch out as it can go short in the hole..
Ubi maior minor cessat
  • #7,427
  • Nov 12, 2020 9:54am Nov 12, 2020 9:54am
See you tomorrow.
PS: I'm not saying it cannot continue lower. I'm saying it can put itself in troubles. So I'm off, whatever the result. Have a nice continuation. Best

PPS: and please, subscribe me if you like my notes.. Thank you.
Ubi maior minor cessat
  • #7,428
  • Nov 12, 2020 10:21am Nov 12, 2020 10:21am
Quoting Lock
It can go short in the hole...
Yes
  • #7,429
  • Nov 12, 2020 10:22am Nov 12, 2020 10:22am
Quoting Lock
See you tomorrow. PS: I'm not saying it cannot continue lower. I'm saying it can put itself in troubles. So I'm off, whatever the result. Have a nice continuation. Best PPS: and please, subscribe me if you like my notes.. Thank you.
Watching levels until tomorrow
  • #7,430
  • Nov 12, 2020 10:41pm Nov 12, 2020 10:41pm
Yesterday both GB and pit sessions closed below their respective October inside month highs: Gb close at 31415 below 3150 while Pit closed at 3122 below 31765. Pit also managed to move its poc at 31155 below its October high.

Now, as written yesterday we are speaking about a monthly attempted rally above inside month balance, so it can take more than a single session to evaluate the success or failure of such an attempt, also considering that GB went down all together with pit leaving upside a mess of weaknesses and in a state of great emotion.

In any case we have to act upon market generated information and then we must evaluate next session behavior in relation to major refs.

That for GB are:
Yesterday close 31415
October high 3150
Yesterday GB spike base 31665

If we will see acceptation below these levels, especially below GB October high 3150 we can imagine that GB has not finished yet to test inside October range or even that the attempted rally upside is a possible failure and then we can start thinking to a possible return to the opposite side of October balance. If instead we will see a clear acceptation above such levels we can imagine a new attempt upside toward weaknesses left there up to 3319
Ubi maior minor cessat
  • #7,431
  • Nov 12, 2020 11:17pm Nov 12, 2020 11:17pm
Quoting Lock
... That for GB are: Yesterday close 31415 October high 3150 Yesterday GB spike base 31665 ...
Note Tokyo anticipate test of GB major levels: it's a common feature of last Tokyo periods
Ubi maior minor cessat
  • #7,432
  • Nov 12, 2020 11:52pm Nov 12, 2020 11:52pm
31615 is GB last week close: an other significant level for upoming GB session: take note.
Ubi maior minor cessat
  • #7,433
  • Nov 12, 2020 11:59pm Nov 12, 2020 11:59pm
Quoting Lock
That for GB are: Yesterday close 31415 October high 3150 Yesterday GB spike base 31665
And here we are at yes GB spike base 31665
Ubi maior minor cessat
  • #7,434
  • Nov 13, 2020 12:00am Nov 13, 2020 12:00am
Quoting Lock
{quote} And here we are at yes GB spike base 31665
Now we want acceptation above it and above all other lower main GB refs, to continue higher. If not...
Ubi maior minor cessat
  • #7,435
  • Nov 13, 2020 12:00am Nov 13, 2020 12:00am
Please subscribe me if you like my notes, Thanks.
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  • #7,436
  • Nov 13, 2020 12:04am Nov 13, 2020 12:04am
If we will have acceptation above 31665 we can imagine a substantial correction upside, at least to 32285 as a first step. If instead we will not see such acceptation we can imagine a first retest of October GB high 3150, as a first step.
Ubi maior minor cessat
  • #7,437
  • Nov 13, 2020 12:26am Nov 13, 2020 12:26am
Quoting Lock
If we will have acceptation above 31665 we can imagine a substantial correction upside, at least to 32285 as a first step. If instead we will not see such acceptation we can imagine a first retest of October GB high 3150, as a first step.
Now, if we will get no acceptation below 3150 back to 31665. If acceptation we can continue to 31415 for test. etc...
Ubi maior minor cessat
  • #7,438
  • Nov 13, 2020 12:41am Nov 13, 2020 12:41am
And 3171 is yes GB open. So if it test above 31665 take not of possible new test. We are in balance: balance rules apply.
Ubi maior minor cessat
  • #7,439
  • Nov 13, 2020 12:49am Nov 13, 2020 12:49am
Note our major refs perfectly containing price action:weak money here. 3150-31665
Ubi maior minor cessat
  • #7,440
  • Nov 13, 2020 12:50am Nov 13, 2020 12:50am
Quoting Lock
Note our major refs perfectly containing price action:weak money here. 3150-31665
...for now...
Ubi maior minor cessat
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