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Lock's Cable Corner

  • #7,481
  • Nov 13, 2020 11:26am Nov 13, 2020 11:26am
Quoting Pixie666
{quote} Levels noted I will be more inclined downstairs next week but keeping my options open for trigger fingers
We have huge and impressive weaknesses also downside. You may be absolutely correct. I prefer, in any case, to take the market a piece at a time. We will see next week. Best.
Ubi maior minor cessat
  • #7,482
  • Nov 14, 2020 3:16am Nov 14, 2020 3:16am
Quoting Lock
{quote} And we also have GB poor high at 3200 (also round number!) and 32285 back to back Sydney high and Tokyo high (very weak): and even with this really incredible amount of weaknesses left upside, if does not rally. Now: do they want to operate overnight, maybe Sunday night? Or there is something I do not understand here?
No, I was not wrong: they want and they managed to take out GB participants from this action. Pit closed at 31975, slightly below 3200 that in my opinion nobody can now save from sure ruin, but in order to do so we see price balancing up and down from 9:00 in the morning to 9:00 in the evening, just to realize the thing in the last 4 periods. All in all it spent 23-9=14 hours to do what odds were in favor to from the beginning.
And the work can be completed on Sunday night, maybe.
If not we will see: in that case (if it will not complete the job during overnight), we could have good reasons to see GB perform this action up to 32285, as we have a GB gap downside from 3200 to 3223 that can attract GB participants. Unless some exogenous event will let the market go far below GB October high 3150, in which case we will have a very complex situation to solve.
Ubi maior minor cessat
  • #7,483
  • Nov 16, 2020 12:39am Nov 16, 2020 12:39am
Quoting Lock
{quote} And we also have GB poor high at 3200 (also round number!) and 32285 back to back Sydney high and Tokyo high (very weak): and even with this really incredible amount of weaknesses left upside, if does not rally. Now: do they want to operate overnight, maybe Sunday night? Or there is something I do not understand here?
As expected they made it during Sunday night.

Now all the game is about the GB gap (3200 to 3223 that can attract GB participants), weekly GB close 3175 and GB October high 3150. If we will have acceptation above 3175 we can imagine balance or continuation upside up to 3319 (Back to back GB highs from September)
If instead we will see price accepted below 3175 at least a new test of 3150 will be very possible.

Note that if we will open above 3200 we will have a new GB gap upside that will go to overlap to current GB gap downside: a double gap zone is more attractive that a single one: so take note in the event this will happen.
Ubi maior minor cessat
  • #7,484
  • Nov 16, 2020 12:53am Nov 16, 2020 12:53am
Quoting Lock
{quote} As expected they made it during Sunday night. Now all the game is about the GB gap (3200 to 3223 that can attract GB participants), weekly GB close 3175 and GB October high 3150. If we will have acceptation above 3175 we can imagine balance or continuation upside up to 3319 (Back to back GB highs from September) If instead we will see price accepted below 3175 at least a new test of 3150 will be very possible. Note that if we will open above 3200 we will have a new GB gap upside that will go to overlap to current GB gap downside: a double...
New week
same levels
  • #7,485
  • Nov 16, 2020 2:12am Nov 16, 2020 2:12am
New gap upside and now the old one is double pass. 3234 is the highest GB close of November while 3250 is 11.11 GB spike downside base: We need acceptation above both of them to continue to 3319. If not the double GB gap 3200-32205(current GB low) is very possible.
Ubi maior minor cessat
  • #7,486
  • Nov 16, 2020 2:28am Nov 16, 2020 2:28am
Please note: last GB session was an inside one (3140-3187 last GB session is contained inside previous session range 3132-3200). So this is an attempted rally from balance (above 3187). If it will succeed we have a lot of space upside, if it will fail back to the opposite side of balance that is around 3140 and even 3132.
Ubi maior minor cessat
  • #7,487
  • Nov 16, 2020 2:38am Nov 16, 2020 2:38am
Quoting Lock
Please note: last GB session was an inside one (3140-3187 last GB session is contained inside previous session range 3132-3200). So this is an attempted rally from balance (above 3187). If it will succeed we have a lot of space upside, if it will fail back to the opposite side of balance that is around 3140 and even 3132.
I sold a few
  • #7,488
  • Nov 16, 2020 2:42am Nov 16, 2020 2:42am
B can be inside period: balance rules. Let's see where it will go.
Ubi maior minor cessat
  • #7,489
  • Nov 16, 2020 2:43am Nov 16, 2020 2:43am
Quoting Pixie666
{quote} I sold a few
It's licit as it failed above 3234 for now. But watch out as B high is at half back. Take care.
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  • #7,490
  • Nov 16, 2020 2:45am Nov 16, 2020 2:45am
Quoting Lock
B can be inside period: balance rules. Let's see where it will go.
Btw I sold some too when failed once upon 3234 waiting for a possible double gap fill to 3200
Ubi maior minor cessat
  • #7,491
  • Nov 16, 2020 2:49am Nov 16, 2020 2:49am
Disregard current GB poor low as it is above new gap (gap is a form of excess so it can substitute single prints) If it has to go lower it will not be for that poor low, but for double gap fill. And if it will fail to do so this poor low can last until GB will at least retest 3234 or test 3250.
Ubi maior minor cessat
  • #7,492
  • Nov 16, 2020 2:50am Nov 16, 2020 2:50am
Quoting Lock
{quote} Btw I sold some too when failed once upon 3234 waiting for a possible double gap fill to 3200
  • #7,493
  • Nov 16, 2020 3:09am Nov 16, 2020 3:09am
Quoting Lock
Please note: last GB session was an inside one (3140-3187 last GB session is contained inside previous session range 3132-3200). So this is an attempted rally from balance (above 3187). If it will succeed we have a lot of space upside, if it will fail back to the opposite side of balance that is around 3140 and even 3132.

If it will manage to fill the double gap back to 3200, Double Gap filled at that moment in time we will need an acceleration below it to get 3175 last week GB close. If instead we will not see acceptation below 3200 we probably will see price continue higher toward a retest of 3234, as written.
A complete failure of this attempted rally from balance needs a fast and clear acceptation back inside last GB session range 3140-3187: meaning below 3187. But only a clear 3175 (last week GB close) is the only real level we have to take care of to continue seriously lower.
Ubi maior minor cessat
  • #7,494
  • Nov 16, 2020 3:11am Nov 16, 2020 3:11am
3194 is 2019 GB close: obviously a good support. To continue lower, acceptation below it needed.
Ubi maior minor cessat
  • #7,495
  • Nov 16, 2020 6:08am Nov 16, 2020 6:08am
Quoting Lock
{quote} If it will manage to fill the double gap back to 3200, Double Gap filled at that moment in time we will need an acceleration below it to get 3175 last week GB close. If instead we will not see acceptation below 3200 we probably will see price continue higher toward a retest of 3234, as written. A complete failure of this attempted rally from balance needs a fast and clear acceptation back inside last GB session range 3140-3187: meaning below 3187. But only a clear 3175 (last week GB close) is the only real level we have to take...

So it went down to test 3175 and got acceptation below it. This is an important info. Then it retraced back after a double tag of 11.12 GB spike base 31665. I do not know how to interpret this as we have conflicting info here. We can wait for preUS and Pit to better evaluate the situation. An other thing to consider is current value that is overlapping to high in relation to Friday GB session value. Also we are above GB October high 3150.
Ubi maior minor cessat
  • #7,496
  • Nov 16, 2020 6:14am Nov 16, 2020 6:14am
Quoting Lock
{quote} So it went down to test 3175 and got acceptation below it. This is an important info. Then it retraced back after a double tag of 11.12 GB spike base 31665. I do not know how to interpret this as we have conflicting info here. We can wait for preUS and Pit to better evaluate the situation. An other thing to consider is current value that is overlapping to high in relation to Friday GB session value. Also we are above GB October high 3150.
I mean: 32245, 3278 and 3297 are all pit poor highs. While downside we have 3106 poor low and 3096 poor low: so both options are valid. But 31765 is pit October high and it is our most important level for upcoming preUS and pIt. So we have to consider all these in this last GB periods as we are not trading in a vacuum.
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  • #7,497
  • Nov 16, 2020 6:34am Nov 16, 2020 6:34am
So GB participants know that in less than half an hour new US participants will come in. And we are right now between major ref 31765 (Pit October high) and 31975 last week Pit unch. So I suggest to be very cautious right now.
Ubi maior minor cessat
  • #7,498
  • Nov 16, 2020 6:38am Nov 16, 2020 6:38am
Quoting Lock
So GB participants know that in less than half an hour new US participants will come in. And we are right now between major ref 31765 (Pit October high) and 31975 last week Pit unch. So I suggest to be very cautious right now.
Yes closed some trades on that drop waiting next move
  • #7,499
  • Nov 16, 2020 6:38am Nov 16, 2020 6:38am
period I high is at half back 3204 and B period high was at previous half back 3228: take note.
Ubi maior minor cessat
  • #7,500
  • Nov 16, 2020 6:40am Nov 16, 2020 6:40am
Quoting Pixie666
{quote} Yes closed some trades on that drop waiting next move
That acceptation below 3175 was pretty tricky for me. I closed some but I closed the rest only around 3194.
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