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Lock's Cable Corner

  • #7,761
  • Nov 26, 2020 11:00am Nov 26, 2020 11:00am
Quoting Lock
We have only 3 periods to GB close. If someone will decide to profit from this incredible weak liquidation they can start to buy at any moment in time. And we have space up to 3359 at least for this. If instead nobody will enter this market (I'm speaking about stronger participants) this horrible thing can continue lower, step by step towards the levels I underlined into previous post.
and surprise, surprise... they did in the last GB period....up to only 2 pips below 3359... The importance of market generated information...
Ubi maior minor cessat
  • #7,762
  • Nov 26, 2020 11:06am Nov 26, 2020 11:06am
Quoting Lock
We have only 3 periods to GB close. If someone will decide to profit from this incredible weak liquidation they can start to buy at any moment in time. And we have space up to 3359 at least for this. If instead nobody will enter this market (I'm speaking about stronger participants) this horrible thing can continue lower, step by step towards the levels I underlined into previous post.
just On point,. as accurate as ever,. you have my full respect
  • #7,763
  • Nov 26, 2020 11:16am Nov 26, 2020 11:16am
Quoting mrmeth
{quote} just On point,. as accurate as ever,. you have my full respect
Thank you very much, I appreciated it.

Now, the game is over. Bank holiday, GB closed. This does not mean it cannot do something more, but those who are currently involved are very weak and, at least for me, I think it's better to wait for new fresh participants. Have a nice continuation.

PS: all the game here is about that major trend line upside (3400-3410?). If we consider tonight Tokyo action as a test of it, we can see serious liquidation (not what we have seen today anyhow) If instead that Tokyo action is not a good test of the trendline, I suppose a new visit upside before any new possible serious liquidation. So let's see...
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  • #7,764
  • Nov 26, 2020 10:50pm Nov 26, 2020 10:50pm
Currently Tokyo is slightly above yesterday GB open level 3368 and spent its entire session (til now) to attempt a new test of major trend line upside (some pips above 34)
Yesterday GB session 33415-3378 is an inside one (inside previous GB session range): so any attempt above or below yesterday GB range has to be considered as an attempted break from balance. Yesterday for instance, pit session attempted below 33415 and failed (and here we are at the opposite side of yesterday GB range as normal.)
So today GB can open inside yesterday range, above it or below it: if inside some sort of balance at least initially will be expected, while if above or below we will consider that as a new attempt to break above (3378) or below (33415) balance.
Note that highest GB close of November is at 33765: so currently Tokyo is between yesterday GB open 3368 and highest GB close 33765 of the month. Both are pre testing.

In my opinion the optimal outcome of current situation will be a clear test of major trendline above 34, a failure there and a consequent sharp liquidation downside. The worst one will be a no test of that trendline remaining into balance: this will left us in a great indecision and probably will leave the problem to the next week.
...obviously there is also the remote possibility to test and break the trendline: this could provide us with exceptional movements that will be very difficult to handle.
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  • #7,765
  • Nov 27, 2020 1:31am Nov 27, 2020 1:31am
Quoting Lock
...[...] Note that highest GB close of November is at 33765: so currently Tokyo is between yesterday GB open 3368 and highest GB close 33765 of the month. Both are pre testing. [...]
Note that Tokyo established a poor high at highest GB close of November 33765 and ranged for 8 periods between it and yesterday GB open 3368. And yesterday GB close is at 33555. We are in the middle of yesterday GB session range. Let's see where GB will open.
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  • #7,766
  • Nov 27, 2020 1:58am Nov 27, 2020 1:58am
With any probability we are going to open inside yesterday GB range: full balance environment. Whatever the outcome for today expect a very tricky behavior by market participants as we are too close to very prominent levels. Do not be fooled by price action. Look at value.
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  • #7,767
  • Nov 27, 2020 2:00am Nov 27, 2020 2:00am
And if you feel insecure, do not trade at all.
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  • #7,768
  • Nov 27, 2020 2:01am Nov 27, 2020 2:01am
Quoting Lock
{quote} Note that Tokyo established a poor high at highest GB close of November 33765 and ranged for 8 periods between it and yesterday GB open 3368. And yesterday GB close is at 33555. We are in the middle of yesterday GB session range. Let's see where GB will open.
GB opened almost exactly at 3368: it's a sign of acceptation of yesterday levels but also a clear sign of weak participants till now. Very tricky outcome expected. Take care.
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  • #7,769
  • Nov 27, 2020 2:08am Nov 27, 2020 2:08am
Testing 3378 yes GB high: crucial
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  • #7,770
  • Nov 27, 2020 2:31am Nov 27, 2020 2:31am
Quoting Lock
{quote} Note that Tokyo established a poor high at highest GB close of November 33765 and ranged for 8 periods between it and yesterday GB open 3368. And yesterday GB close is at 33555. We are in the middle of yesterday GB session range. Let's see where GB will open.
Quoting Lock
Testing 3378 yes GB high: crucial
Failure above crucial 3378, back to yesterday GB close test 33555 : and in theory we should see the opposite side of yesterday GB session range 33415. In theory....
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  • #7,771
  • Nov 27, 2020 2:33am Nov 27, 2020 2:33am
Quoting Lock
{quote} {quote} Failure above crucial 3378, back to yesterday GB close test 33555 : and in theory we should see the opposite side of yesterday GB session range 33415. In theory....
....because if it fail below 33555 or below poor Tokyo low 3348 a new test of 3378 is very possible
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  • #7,772
  • Nov 27, 2020 2:42am Nov 27, 2020 2:42am
Quoting Lock
{quote} GB opened almost exactly at 3368: it's a sign of acceptation of yesterday levels but also a clear sign of weak participants till now. Very tricky outcome expected. Take care.
Quoting Lock
{quote} ....because if it fail below 33555 or below poor Tokyo low 3348 a new test of 3378 is very possible
failure below 33555 yes GB close and back to open 3368: as you see this market is as trickiest as it can possibly be.
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  • #7,773
  • Nov 27, 2020 2:47am Nov 27, 2020 2:47am
Quoting Lock
{quote} {quote} failure below 33555 yes GB close and back to open 3368: as you see this market is as trickiest as it can possibly be.

Note that most of your competitors (other traders) have no idea whatsoever of the levels you are trading knowing market generated information. Think at the edge you have against them. Even if you decided not to trade as you know it will be a very risky environment...
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  • #7,774
  • Nov 27, 2020 3:15am Nov 27, 2020 3:15am
Quoting Lock
{quote} Note that most of your competitors (other traders) have no idea whatsoever of the levels you are trading knowing market generated information. Think at the edge you have against them. Even if you decided not to trade as you know it will be a very risky environment...
MRMALIK1
  • #7,775
  • Nov 27, 2020 4:04am Nov 27, 2020 4:04am
Quoting Lock
{quote} {quote} failure below 33555 yes GB close and back to open 3368: as you see this market is as trickiest as it can possibly be.
...no acceptation above open 3368, back again to yes GB close 33555...
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  • #7,776
  • Nov 27, 2020 4:11am Nov 27, 2020 4:11am
...but while you are watching price going up and down our daily refs: where is value in relation to yesterday GB value? Can it move lower? Yes? No? Where did we get acceptation for now? Is the trend line upside test solved? Or not?
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  • #7,777
  • Nov 27, 2020 4:38am Nov 27, 2020 4:38am
Quoting Lock
{quote} {quote} Failure above crucial 3378, back to yesterday GB close test 33555 : and in theory we should see the opposite side of yesterday GB session range 33415. In theory....
Let's make a summary of what happen till now:

  1. GB opened inside yesterday GB range 33415-3378, at yesterday open 3368 btw, balance and tricky market expected.
  2. GB tested yesterday GB range high 3378 and failed: next direction for balance rules: the opposite side of yesterday range, meaning 33415.
  3. GB went down and bounced at yesterday GB close 33555.
  4. It came back to open 3368 and failed again to get acceptation above it.
  5. It liquidated again to yes GB close 33555 and this time it forced it eventually managed to go to yesterday GB low 33415 also taking out Tokyo poor low 3348.


And now we are at 33285: this week GB open.... So what happened this week till now? Absolutely nothing.

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  • #7,778
  • Nov 27, 2020 4:50am Nov 27, 2020 4:50am
Now: we get rejection once below weekly open 33285 but we are below yesterday GB inside session range 33415: if we will see rejection above 33415 we can see a new test of 33285, if we get acceptation above it we can retrace everything up again to 3378 for a possible new test of major trend line.
In case of acceptation below 33285 things can become more serious even without the trendline test. Without its acceptation as written nothing happened at all.
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  • #7,779
  • Nov 27, 2020 4:52am Nov 27, 2020 4:52am
second attempt at 33285 after failure to reach 33415
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  • #7,780
  • Nov 27, 2020 4:54am Nov 27, 2020 4:54am
Note that at this moment in time we got 2 back to back poor lows: yesterday pit poor low 33215 and current GB temporary poor low 3325.
Now, if price for whatever reason will not take out these 2 very weak levels take note of them and carry forward this precious info.
Ubi maior minor cessat
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