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Lock's Cable Corner

  • #7,541
  • Nov 17, 2020 3:10am Nov 17, 2020 3:10am
Quoting Lock
Including Tokyo session we got 8 periods that sold almost exactly at brexit low 3227: how do you judge that level? Weak or strong?
Weak as in level wise to sustain above it
  • #7,542
  • Nov 17, 2020 3:10am Nov 17, 2020 3:10am
Quoting Lock
Including Tokyo session we got 8 periods that sold almost exactly at brexit low 3227: how do you judge that level? Weak or strong?
Now, I suggest to note that everything in the last couple of days is extraordinary weak both above and below, so when you note a weak level this does not mean that it has to take it out now. It means that it has good odds to be taken out, before or after. Alongside with all the other weak levels left below or upside...
Ubi maior minor cessat
  • #7,543
  • Nov 17, 2020 3:11am Nov 17, 2020 3:11am
I am looking downstairs to sell the rallies but taking it one step at a time
  • #7,544
  • Nov 17, 2020 3:17am Nov 17, 2020 3:17am
Quoting Lock
Including Tokyo session we got 8 periods that sold almost exactly at brexit low 3227: how do you judge that level? Weak or strong?
if it will fail above 3227 (and then above 3228 yes GB open), we can imagine liquidation (3186?). If it will succeed above it next level is 3234 and after that a test of 3250, in case of acceptation , is very possible.
Ubi maior minor cessat
  • #7,545
  • Nov 17, 2020 3:22am Nov 17, 2020 3:22am
Quoting Lock
Including Tokyo session we got 8 periods that sold almost exactly at brexit low 3227: how do you judge that level? Weak or strong?
3227 taken out, now let's see for acceptation or rejection above it or above 3234
Ubi maior minor cessat
  • #7,546
  • Nov 17, 2020 3:58am Nov 17, 2020 3:58am
Quoting Lock
{quote} 3227 taken out, now let's see for acceptation or rejection above it or above 3234
So it failed once above it: a sell was licit but value is building higher from yesterday GB session value. So if it will remain in balance up here, odds for a liquidation are less and less period after period.
Ubi maior minor cessat
  • #7,547
  • Nov 17, 2020 4:05am Nov 17, 2020 4:05am
Quoting Lock
{quote} So it failed once above it: a sell was licit but value is building higher from yesterday GB session value. So if it will remain in balance up here, odds for a liquidation are less and less period after period.
Sold a few with caution
  • #7,548
  • Nov 17, 2020 4:25am Nov 17, 2020 4:25am
Quoting Lock
{quote} So it failed once above it: a sell was licit but value is building higher from yesterday GB session value. So if it will remain in balance up here, odds for a liquidation are less and less period after period.
That's it.... Note the test of 3250
Ubi maior minor cessat
  • #7,549
  • Nov 17, 2020 4:27am Nov 17, 2020 4:27am
Quoting Lock
{quote} That's it.... Note the test of 3250
apart from this spike, if we will not see acceptation above 3250, back to the mean. If acceptation 3272? 3319?
Ubi maior minor cessat
  • #7,550
  • Nov 17, 2020 4:32am Nov 17, 2020 4:32am
3234 is now crucial: we got one period closed above it. Let's see. If acceptation, retest of 3250. If it fail also above it I expect balance until preUS
Ubi maior minor cessat
  • #7,551
  • Nov 17, 2020 4:52am Nov 17, 2020 4:52am
F period can be an inside one. If so balance rules apply.
Ubi maior minor cessat
  • #7,552
  • Nov 17, 2020 5:00am Nov 17, 2020 5:00am
Quoting Lock
3234 is now crucial: we got one period closed above it. Let's see. If acceptation, retest of 3250. If it fail also above it I expect balance until preUS
Acceptation above 3234, now testing again 3250. Let's see as now we also have an inside period.
Ubi maior minor cessat
  • #7,553
  • Nov 17, 2020 5:04am Nov 17, 2020 5:04am
Quoting Pixie666
{quote} Sold a few with caution
...selling against value is possible, but it's risky. It is risky as in such a position you are trading against the fairest price at which business has been cunducted, meaning against the majority of traders involved in that market at that particular moment in time. So you can do it but you have to be very quick to react if something will go wrong and sometime you will not have any time at all, llike in the previous spike we experienced.
Ubi maior minor cessat
  • #7,554
  • Nov 17, 2020 5:26am Nov 17, 2020 5:26am
Quoting Lock
{quote} apart from this spike, if we will not see acceptation above 3250, back to the mean. If acceptation 3272? 3319?
3272 test is possible. Very elongated profile to reach in this way also 3319. So watch out at 3272 if reached.
Ubi maior minor cessat
  • #7,555
  • Nov 17, 2020 5:59am Nov 17, 2020 5:59am
Quoting Lock
{quote} 3272 test is possible. Very elongated profile to reach in this way also 3319. So watch out at 3272 if reached.
testing 3272, but very elongated profile. Watch out.
Ubi maior minor cessat
  • #7,556
  • Nov 17, 2020 6:01am Nov 17, 2020 6:01am
See you later. Have a nice continuation.
Ubi maior minor cessat
  • #7,557
  • Nov 17, 2020 7:41am Nov 17, 2020 7:41am
For upcoming pit session (and current preUS) main refs are:

  1. 3278 pit November high
  2. 32735 highest pit unch of November
  3. 32595, 2019 pit close
  4. 3204 yes pit high
  5. 3200 yes pit unch
  6. 31975 last week pit unch
  7. 3188 yes pit open
  8. 31765 pit October high

Ubi maior minor cessat
  • #7,558
  • Nov 17, 2020 7:47am Nov 17, 2020 7:47am
Note also that pit could open with a new gap upside from yesterday pit high 3204 considering current price location
Ubi maior minor cessat
  • #7,559
  • Nov 17, 2020 8:33am Nov 17, 2020 8:33am
pit opened and testing 2019 pit close 32595
Ubi maior minor cessat
  • #7,560
  • Nov 17, 2020 8:34am Nov 17, 2020 8:34am
Quoting Lock
pit opened and testing 2019 pit close 32595
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