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Attachments: Lock's Cable Corner
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Lock's Cable Corner

  • #7,861
  • Dec 1, 2020 3:10am Dec 1, 2020 3:10am
Nice analysis as always looks like the answer between option 1 and 3 will unravel in 1 hour
  • #7,862
  • Dec 1, 2020 4:17am Dec 1, 2020 4:17am
Quoting Lock
{quote} back again to 3397 Nov GB high
It failed above it (3397) and liquidated. And it left a monthly poor high up there. I don't know if I have to take this test for good or not. If good we can find any good location to sell as we have nothing to do anymore upside. If instead it's not good (also including the fact that Pit Nov high is poor too at 3394 and GB did not correct it as only Pit can do it) we can imagine some balance and a new attempt during Pit session.

For now let's take into consideration major ref: nearest one is GB week open 3351: you want acceptation below it for continuation downside.
Ubi maior minor cessat
  • #7,863
  • Dec 1, 2020 4:20am Dec 1, 2020 4:20am
Quoting zarach
Nice analysis as always looks like the answer between option 1 and 3 will unravel in 1 hour
B was an inside period: I didn't write about it as normal but when you see an inside period, balance rules apply. When you saw a failure above major ref 3397 and an attempted break below inside period, it's a sell and you do not have to wait at all. Then if it fail below inside period you have good reasons to attempt to the opposite side of it (especially in this case with a poor high): but it didn't fail.
Ubi maior minor cessat
  • #7,864
  • Dec 1, 2020 4:35am Dec 1, 2020 4:35am
Quoting Lock
{quote}... For now let's take into consideration major ref: nearest one is GB week open 3351: you want acceptation below it for continuation downside.
second attempt at 3351
Ubi maior minor cessat
  • #7,865
  • Dec 1, 2020 4:57am Dec 1, 2020 4:57am
F period can be inside period again: if so balance rules will apply
Ubi maior minor cessat
  • #7,866
  • Dec 1, 2020 5:12am Dec 1, 2020 5:12am
Quoting Lock
F period can be inside period again: if so balance rules will apply
if success downside, 3338 GB Nov close next step
Ubi maior minor cessat
  • #7,867
  • Dec 1, 2020 5:15am Dec 1, 2020 5:15am
Quoting Lock
{quote} if success downside, 3338 GB Nov close next step
3338 tagged: again, acceptation below it needed for continuation
Ubi maior minor cessat
  • #7,868
  • Dec 1, 2020 5:18am Dec 1, 2020 5:18am
Quoting Lock
{quote} 3338 tagged: again, acceptation below it needed for continuation
if acceptation below it (3338), yes GB poor low at 3305 is eventually at hands. If failure back to balance waiting for PreUS or Pit, or even new attempt upside (less probable of the 2)
Ubi maior minor cessat
  • #7,869
  • Dec 1, 2020 5:19am Dec 1, 2020 5:19am
Quoting Lock
{quote} 3338 tagged: again, acceptation below it needed for continuation
We are speaking of the last month close and this is the 1st day of the new month: how important can be this level ?
Ubi maior minor cessat
  • #7,870
  • Dec 1, 2020 6:06am Dec 1, 2020 6:06am
Overnight completely retraced back to Sydney low:first target pit poor low 33165 acquired, 3305 very possible. Unless some tricky move. And watch out as this is a very tricky market. See first post of the day: our 3 options where fundamental to understand today action and to profit from market provided opportunities.

here:

Quoting Lock
Again, good opportunity here: we saw yesterday, the last day of November, GB establishing a poor low at 3305 and Pit a poor low at 33165 (then tagged and further weakened by Sydney low). After all this we saw Tokyo rallying higher without any correction downside all night long, toward a retest of m30 yearly major timeframe.
....
Quoting Lock
So in my opinion we have 3 options here: a continuation upside and a serious test and failure of higher timeframes (above 3400 ? d, w, m?) major trendline, followed by a sharp liquidation downside removing at least GB and Pit poor lows; an immediate correction downside without testing higher timeframes (above 3400 ? d, w, m?) major trendline and then a serious test of it (then option 1); a successful test of higher timeframes (above 3400 ? d, w, m?) major trendline and continuation upside (very very significant market switch against current odds) Major refs are for GB : 3397 GB Nov high 33765 GB highest close of Nov 3351 GB weekly open 3338 GB Nov close 33285 GB prev week open 3305 GB yes PL 32975 GB inside weak breakeven 32925 GB gap upside base
Ubi maior minor cessat
  • #7,871
  • Dec 1, 2020 6:23am Dec 1, 2020 6:23am
Now, current low (3316) is extraordinary weak as it is a perfect tag of 3 different sessions one of which also poor (PIT) and it's also followed by the GB poor low at 3305: if it will not take it out (current low), take care of this precious information as if market will retrace back upside from here we will probably have a good opportunity to short against it after during next sessions.
Ubi maior minor cessat
  • #7,872
  • Dec 1, 2020 6:32am Dec 1, 2020 6:32am
And current situation also provided us an other very important info: with strong sellers involved this level (3316) would not have been respected. So the fact that price stopped here is a possible indication that maybe upside is not over yet. So take care of this info in any case.
Ubi maior minor cessat
  • #7,873
  • Dec 1, 2020 6:43am Dec 1, 2020 6:43am
Well, see you later. Have a nice continuation and please, if you like my notes, subscribe me. Thank you.
Ubi maior minor cessat
  • #7,874
  • Dec 1, 2020 10:25am Dec 1, 2020 10:25am
Quoting Lock
And current situation also provided us an other very important info: with strong sellers involved this level (3316) would not have been respected. So the fact that price stopped here is a possible indication that maybe upside is not over yet. So take care of this info in any case.
...I told you...
Ubi maior minor cessat
  • #7,875
  • Dec 1, 2020 10:29am Dec 1, 2020 10:29am
Quoting Lock
{quote} ...I told you...
1.3468 then sell again

My view
  • #7,876
  • Dec 1, 2020 10:29am Dec 1, 2020 10:29am
And please, let the talking heads speak about news, deals or whatever: this action didn't occur in the last half an hour, this action originated this morning when GB failed to take out 3316.
Ubi maior minor cessat
  • #7,877
  • Dec 1, 2020 10:32am Dec 1, 2020 10:32am
34295 is GB 2019 high: any serious action upside will need acceptation above it. If not retracement. If acceptation above it next level to test is 34615 highest GB close of 2020 then 3466 GB 2020 high.
Ubi maior minor cessat
  • #7,878
  • Dec 1, 2020 10:33am Dec 1, 2020 10:33am
34145 highest GB close of September
Ubi maior minor cessat
  • #7,879
  • Dec 1, 2020 10:35am Dec 1, 2020 10:35am
Quoting Lock
34145 highest GB close of September
...you will not see acceptation below it 34145 if this is a serious action upside.
Ubi maior minor cessat
  • #7,880
  • Dec 1, 2020 10:49am Dec 1, 2020 10:49am
Note that we are in the last GB period of the day. GB November high is at 3397 while highest GB November close is at 33765-.... if you will see GB close below it... well..
Ubi maior minor cessat
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