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Lock's Cable Corner

  • #7,641
  • Nov 19, 2020 9:41am Nov 19, 2020 9:41am
And take note of the perfect tag of 3209: add it to current weak low 3200...
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  • #7,642
  • Nov 19, 2020 9:41am Nov 19, 2020 9:41am
Quoting Lock
{quote} Failed at 3209, back to 3227... ... ..
Today market is scalper dream market zig zag
  • #7,643
  • Nov 19, 2020 9:45am Nov 19, 2020 9:45am
Quoting Lock
3209 to 3239 double pass gap
Quoting Lock
{quote} Failed above 3227, back to open 3209. If failed again below it back to 3227 and/or 3239. If accepted below it, test of next ref downside 31975 as we know 3200 is weak support. Etc., etc, etc..

and eventually here you have the double pass gap filled... from 3209 to 3239....
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  • #7,644
  • Nov 19, 2020 9:47am Nov 19, 2020 9:47am
Now, again: have we any reason to continue any higher or not? Have we a good structure below? How is the profile?
For instance: what about current GB high 32645? Is a perfect tag of yesterday GB low: is it good? Is it a good reason to continue higher? Or is it too risky considering the structure left downside? These are the questions...
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  • #7,645
  • Nov 19, 2020 9:49am Nov 19, 2020 9:49am
Quoting Lock
Now, again: have we any reason to continue any higher or not? Have we a good structure below? How is the profile? For instance: what about current GB high 32645? Is a perfect tag of yesterday GB low: is it good? Is it a good reason to continue higher? Or is it too risky considering the structure left downside? These are the questions...
Upstairs more risky to me I prefer downstairs structure more attractive
  • #7,646
  • Nov 19, 2020 9:51am Nov 19, 2020 9:51am
Quoting Pixie666
{quote} Today market is scalper dream market zig zag
Market is almost always like this: and you may wait for more decisive action with more secure structure or you may participate to this common market. In order to decide if you want to be involved or not in to this you have to evaluate what kind of trader are you: are you fast? Are you a trader who generally married with his positions? Are you emotional? You need to reason a lot before to take a decision or you are generally fast...
Ubi maior minor cessat
  • #7,647
  • Nov 19, 2020 9:53am Nov 19, 2020 9:53am
Quoting Lock
{quote} Market is almost always like this: and you may wait for more decisive action with more secure structure or you may participate to this common market. In order to decide if you want to be involved or not in to this you have to evaluate what kind of trader are you: are you fast? Are you a trader who generally married with his positions? Are you emotional? You need to reason a lot before to take a decision or you are generally fast...
I am all the above trader depending on which day it is NEVER STOP LEARNING I am not perfect but I do alright for myself
  • #7,648
  • Nov 19, 2020 9:55am Nov 19, 2020 9:55am
Quoting Pixie666
{quote} Upstairs more risky to me I prefer downstairs structure more attractive
You could be right you could be wrong: base your decision upon market generated information. Do not be generic if you want to participate in such a market.

Acceptation above 3227 ?
Rejection above 3239 ?
Current price location relative to possible targets ?
Where this action started ?
... ... ...
Answer all these questions and many more: then decide. Or, if you have not the energy at this moment in time, stay apart and do nothing. But do not open a position if you are not secure of the reasons of your action. NEVER. It's the only way to not loose money.
Ubi maior minor cessat
  • #7,649
  • Nov 19, 2020 9:57am Nov 19, 2020 9:57am
For instance, I'm exhausted. Have a nice continuation. Best! I hope you like my notes and thank you for your attention. It also helped me a lot to stay tuned to this market.
Ubi maior minor cessat
  • #7,650
  • Nov 19, 2020 9:58am Nov 19, 2020 9:58am
Quoting Lock
{quote} You could be right you could be wrong: base your decision upon market generated information. Do not be generic if you want to participate in such a market. Acceptation above 3227 ? Rejection above 3239 ? Current price location relative to possible targets ? Where this action started ? ... ... ... Answer all these questions and many more: then decide. Or, if you have not the energy at this moment in time, stay apart and do nothing. But do not open a position if you are not secure of the reasons of your action. NEVER. It's the only way to...

Sidelines for now way to exhausted to make any trading so just levels for fast in outs if possible otherwise done for the day Made few pips
  • #7,651
  • Nov 19, 2020 10:03am Nov 19, 2020 10:03am
Quoting Lock
For instance, I'm exhausted. Have a nice continuation. Best! I hope you like my notes and thank you for your attention. It also helped me a lot to stay tuned to this market.
You’re welcome
Catch u another session
  • #7,652
  • Nov 19, 2020 10:05am Nov 19, 2020 10:05am
Quoting Lock
For instance, I'm exhausted. Have a nice continuation. Best! I hope you like my notes and thank you for your attention. It also helped me a lot to stay tuned to this market.
Cheers mate, rest well!
  • #7,653
  • Nov 19, 2020 11:36pm Nov 19, 2020 11:36pm
Yesterday pit somewhat managed to fill also its downside gap to previous pit session low (the notorious 32645) and it did it with a spike which base (take note) is at 3241.

Currently Tokyo session is testing previous GB 11.18 open level 32765, before upcoming GB open and it's operating above yesterday GB high: again 32645 (the most important level of yesterday as you see). So currently we are seeing a possible new GB gap upside if GB will open above its yesterday high: but it's too early to see if this is probable or not.
For sure we have a main GB target upside that is the miserable 3319 against which we struggled in the last couple of weeks.
The fact is that current week range is contained inside previous week range: if this will remain preserved until today close next week we will have balance rules applied on a weekly balance: again, it's to early to speak about that.

Anyhow, these are the main refs for upcoming GB session (from top to bottom):
3319 (our main possible target upside): is a September back to back GB highs
3314 current GB November high
32975 current GB highest close
32765 11.18 GB open
32645 yesterday GB high (the notorious level of yesterday)
3234 yesterday GB open
3225 yesterday GB close
32045 yesterday GB low (do you remember its important role during yesterday?)
3200 current breakeven (the top of the 2 sessions balance from which current rally upside originated 11.12)
3194 is GB 2019 close
3175 previous GB week close 11.13
31615 previous GB week close 11.06
and finally 3150 GB October balance high (our main target downside if something will go heavily wrong upside)

I underlined the levels I consider as most important.

PS: Please subscribe me if you like and consider useful my notes, thank you.
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  • #7,654
  • Nov 20, 2020 12:35am Nov 20, 2020 12:35am
note that 32975 is highest November GB close but also current GB week high: so if we will not find acceptation above it a new liquidation is very possible considering that is Friday. Take note if something will go wrong up there (if reached): I mean this level if reached can be crucial both to evaluate a possible continuation upside and for a possible liquidation.
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  • #7,655
  • Nov 20, 2020 2:16am Nov 20, 2020 2:16am
GB instead opened well inside yesterday GB range (32045-32645): balance expected at least initially. The levels are the same underlined in the first post, plus current Overnight low 3244.
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  • #7,656
  • Nov 20, 2020 2:19am Nov 20, 2020 2:19am

  1. If it will fail to get and stay above yes GB high 32645: liquidation toward 3234 yes GB open, then 3225 yes GB close, and so on...til test of yes GB low 32045.
  2. If it reach 32645 and get acceptation above it, next level 32765, then 32975, then 3314 and 3319.

Ubi maior minor cessat
  • #7,657
  • Nov 20, 2020 2:23am Nov 20, 2020 2:23am
Quoting Lock
If it will fail to get and stay above yes GB high 32645: liquidation toward 3234 yes GB open, then 3225 yes GB close, and so on...til test of yes GB low 32045. If it reach 32645 and get acceptation above it, next level 32765, then 32975, then 3314 and 3319.
At any level obviously it can retrace back to the opposite direction as we are in balance. Obviously it can retrace or continue depending upon other market generated info.
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  • #7,658
  • Nov 20, 2020 2:58am Nov 20, 2020 2:58am
B inside period? If so balance rule apply.
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  • #7,659
  • Nov 20, 2020 3:18am Nov 20, 2020 3:18am
Now if this thing is only a chort covering of the initial Tokyo liquidation, 32765 could stop it. If instead we got something more we should get acceptation above 32765 and then we can test next level 32975
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  • #7,660
  • Nov 20, 2020 3:20am Nov 20, 2020 3:20am
As for the structure below we got B low at open and C low at half back: not good. But if it has reasons to continue higher sometime it can disregard poor initial participants. So let's see the real reaction at 32765
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