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Lock's Cable Corner

  • #7,701
  • Nov 24, 2020 2:16am Nov 24, 2020 2:16am
3381 yes GB spike base. Note that we are inside yesterday GB session range...
Ubi maior minor cessat
  • #7,702
  • Nov 24, 2020 2:18am Nov 24, 2020 2:18am
yes GB high 3397... and just above it we have the major yearly trend line... so watch out...
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  • #7,703
  • Nov 24, 2020 2:19am Nov 24, 2020 2:19am
Also very elongated A period... take note.
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  • #7,704
  • Nov 24, 2020 2:25am Nov 24, 2020 2:25am
Quoting Lock
GB is going to close and 32975 is the top of the GB inside week high from which the attempted rally originated... Also 32925 is last week GB close: so what? Nothing happened at all.
All the pit liquidation from yesterday has been retraced: market generated information told us yesterday that nothing happened, and here you are at yesterday prices...
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  • #7,705
  • Nov 24, 2020 2:31am Nov 24, 2020 2:31am
3365 is yesterday GB poc: point of control, the center of yesterday GB balance: where are we now?? 2pips above it...
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  • #7,706
  • Nov 24, 2020 2:35am Nov 24, 2020 2:35am
When a session opens inside previous session range, what do you expect, at least initially? Balance... What we got today? Balance.
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  • #7,707
  • Nov 24, 2020 2:36am Nov 24, 2020 2:36am
Do you see current poc? monitor its possible migration above or below yesterday GB poc 3365... Do not trade price, trade value.
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  • #7,708
  • Nov 24, 2020 2:47am Nov 24, 2020 2:47am
I must be off for a while. See you later. Have a nice continuation.
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  • #7,709
  • Nov 24, 2020 3:17am Nov 24, 2020 3:17am
Quoting Lock
I must be off for a while. See you later. Have a nice continuation.
Hi Lock new week
I wont be trading this week at all taking time off
catch u next week all best
  • #7,710
  • Nov 24, 2020 4:34am Nov 24, 2020 4:34am
Quoting Lock
Do you see current poc? monitor its possible migration above or below yesterday GB poc 3365... Do not trade price, trade value.

..after 2 hours... Ask yourself: where is the poc now? Exactly where it was before and almost exactly at the same level of yesterday GB poc.. So what? Again, nothing changed till now. And this is the importance of value and market generated information: they can orient you across any market without being mislead by price action...
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  • #7,711
  • Nov 24, 2020 4:46am Nov 24, 2020 4:46am
Quoting Lock
3381 yes GB spike base. Note that we are inside yesterday GB session range...
after my recap post of early morning I made a first tactical post underlining the level I considered more significant coming upside: 3381.
So what: price tested it at the pip didn't manage to test above it and simply liquidated while balancing..

Now you may ask yourself why 3381 was so significant for me: as written it was yesterday GB spike base. What is a spike? It's a test. In that particular case was a test upside. Today GB opened below that test base level (3381) and this means that other market participants (others than GB session participants) did not accept the prices tested above that level.
Now, at that moment in time, when today price was going on 2 things could happen: the action was very strong and supported by new strong participants and in such a case you would never have seen price stopped at 3381... or that action was ruled by the same yesterday GB weak participants which had no reason at all to test what had been already tested yesterday without success...
So when 3381 was reached, knowing all this, and seeing price not able to even go a single pip above it, that was a perfect spot to sell..
Obviously knowing that as any other perfect tag of an exact ref those who sold there were clearly not strong sellers. And in fact we only got a small liquidation balancing around yesterday GB poc...
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  • #7,712
  • Nov 24, 2020 4:52am Nov 24, 2020 4:52am
Now, if price will remain down here current poc could slightly move downside and in such a case this little liquidation can morph into something bigger. At the opposite if price will manage to come back upside again current poc position could be preserved and balance can continue..
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  • #7,713
  • Nov 24, 2020 4:58am Nov 24, 2020 4:58am
F inside period? If so balance rules will apply.
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  • #7,714
  • Nov 24, 2020 8:51am Nov 24, 2020 8:51am
Quoting Lock
{quote} And... surprise surprise! Pit session retraced back upside closing at 3323 exactly in the middle of 3319-3325 GB double pass gap! And...again, what a surprise to see Sydney and Tokyo sessions spending most of their time exactly at those levels!
...and eventually GB managed to fill the double pass gap 3319-3325 with its last 2 periods spike (base at 3338)
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  • #7,715
  • Nov 24, 2020 9:30am Nov 24, 2020 9:30am
Yes pit unch 3323, Sydney close 3323, GB unch 3323...current level 3323...
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  • #7,716
  • Nov 24, 2020 9:34am Nov 24, 2020 9:34am
Quoting Lock
Yes pit unch 3323, Sydney close 3323, GB unch 3323...current level 3323...
read this:
Quoting Lock
Now, we are inside yesterday pit range: so balance at least initially is expected but 3323 is yesterday pit unch. so if you will not see acceptation above it this liquidation can eventually continue. If instead you will see acceptation above 3323 we can see a new attempt toward current Nov high and major trend line (34?)
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  • #7,717
  • Nov 24, 2020 9:45am Nov 24, 2020 9:45am
for this not to morph into balance again you want to stay above 3356 and above 3369. If not watch out. If so continuation is possible for a new Nov high test upside
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  • #7,718
  • Nov 24, 2020 9:52am Nov 24, 2020 9:52am
Quoting Lock
for this not to morph into balance again you want to stay above 3356 and above 3369. If not watch out. If so continuation is possible for a new Nov high test upside
testing the first one 3356 (is the low of the double pass pit gap we filled yesterday), 3369 is the top of it.
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  • #7,719
  • Nov 24, 2020 9:54am Nov 24, 2020 9:54am
Naturally this period will be filled before or after...it is clearly too elongated. But let's see when.
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  • #7,720
  • Nov 24, 2020 9:57am Nov 24, 2020 9:57am
Quoting Lock
{quote} testing the first one 3356 (is the low of the double pass pit gap we filled yesterday), 3369 is the top of it.
If you'll see price fail above 3356 or 3369, back to 3323 (meaning back into balance). So watch out. Give it some time, but not too much. If it will succeed as written we can aim again at current Nov high for a major trend line test.
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