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Lock's Cable Corner

  • #7,901
  • Dec 2, 2020 3:20am Dec 2, 2020 3:20am
Note that bouncing at 3338 (at the pip) it also made a poor low. And please note that also current high 3441 made by Tokyo, is only a tag of yesterday pit session high 3442: so it is a weak high for the month.
Take note of these important info as now you know that weak traders are ruling current market.
Ubi maior minor cessat
  • #7,902
  • Dec 2, 2020 3:22am Dec 2, 2020 3:22am
33765 is November GB highest close. Note that yesterday GB close is at 33905
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  • #7,903
  • Dec 2, 2020 3:47am Dec 2, 2020 3:47am
we are inside yesterday GB range: and as you know in such cases balance at least initially is expected (especially after such a liquidation performed by Tokyo).
Now, if and when you'll see an inside period, you can start to think to a possible resolution of current situation, eventually attempting above or below that period.
So wait for it and be prepared. (and do not loose your capital in attempted moves before any real opportunity will be presented in front of you.)
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  • #7,904
  • Dec 2, 2020 4:00am Dec 2, 2020 4:00am
inside period balance rules
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  • #7,905
  • Dec 2, 2020 4:01am Dec 2, 2020 4:01am
3338 retest and fail, or 3338 retest and succeed
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  • #7,906
  • Dec 2, 2020 4:10am Dec 2, 2020 4:10am
Quoting Lock
3338 retest and fail, or 3338 retest and succeed
It failed, so a buy there was licit, but watch out! as it established a very weak poor low there now. So be prepared for a possible new test of it or, if ti will continue higher carry forward this precious info.
Ubi maior minor cessat
  • #7,907
  • Dec 2, 2020 5:30am Dec 2, 2020 5:30am
So the last period was again an inside one: and so again balance rules. Always considering that we are still in a macro balance area given by the first inside period
Ubi maior minor cessat
  • #7,908
  • Dec 2, 2020 7:35am Dec 2, 2020 7:35am
Quoting Lock
So the last period was again an inside one: and so again balance rules. Always considering that we are still in a macro balance area given by the first inside period
and from that inside period here you got an other profitable opportunity that let you take out both 3316 (cluster of weak and poor lows) and 3305 GB poor low. Read again my posts and see if what I wrote could be used to profit from today GB session opportunities.

PS: I will not follow pit session, so have a nice continuation.
Ubi maior minor cessat
  • #7,909
  • Dec 2, 2020 7:38am Dec 2, 2020 7:38am
Quoting Lock
{quote} and from that inside period here you got an other profitable opportunity that let you take out both 3316 (cluster of weak and poor lows) and 3305 GB poor low. Read again my posts and see if what I wrote could be used to profit from today GB session opportunities. PS: I will not follow pit session, so have a nice continuation.

I forgot it: current low is not good as it is a perfect tag of GB low 11.25 at 3304...
Ubi maior minor cessat
  • #7,910
  • Dec 2, 2020 7:45am Dec 2, 2020 7:45am
Quoting Lock
{quote} and from that inside period here you got an other profitable opportunity that let you take out both 3316 (cluster of weak and poor lows) and 3305 GB poor low. Read again my posts and see if what I wrote could be used to profit from today GB session opportunities. PS: I will not follow pit session, so have a nice continuation.
I might not completely understand some of your terms but I've always look for your bolded number and the price action near the price and observe. Thank you very much
  • #7,911
  • Dec 3, 2020 1:33am Dec 3, 2020 1:33am
We are in:

  1. a monthly trend upside (almost as I consider current situation as an attempted break above October inside month balance);
  2. a weekly trend upside as the last 3 weeks are in one time frame action (excluding current one that is not closed yet): note that the last 2 weeks are an attempted rally above weekly balance (weekly GB balance high not tested yesterday at 32975 by GB);
  3. a daily balance: the last 8 days are overlapping one each other.

Current December high is weak, as written in previous posts as it is an almost perfect tag of pit high 34425 made yesterday by Tokyo high.
Again, monitor for the creation of a new GB gap upside from yesterday GB high at 3387: if so at GB open, monitor for the preservation of it, in which case the current high will probably re tested.
If no gap (open inside yesterday GB range 3304-3387, expect balance at least initially and then a possible attempt above or below yesterday GB range.

Main refs for upcoming GB are then (from top to bottom):
34425 a possible target for today
34295 GB 2019 high
34145 highest September GB close
3407 current December GB high
3397 November GB high
33905 highest December GB close
3387 yesterday GB high
3382 GB December open
3376 Highest November GB close
3351 current week GB open
3346 yesterday GB close
3338 GB November GB close
32975 GB inside week high (breakeven of current weekly attempted rally upside)

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  • #7,912
  • Dec 3, 2020 2:57am Dec 3, 2020 2:57am
B can be an inside period: if so balance rules apply.
Ubi maior minor cessat
  • #7,913
  • Dec 3, 2020 5:29am Dec 3, 2020 5:29am
Quoting Lock;13294266[...
Main refs for upcoming GB are then (from top to bottom): 34425 a possible target for today [...]
Quoting Lock
B can be an inside period: if so balance rules apply.
Failure below B period low and target acquired at 34425. (3 pips below target is enough for me to scale of or esc totally).... As simple as it can be if you will follow market generated information.

I'm off for today, have a nice continuation. For those who will continue to trade I suggest to monitor for the possible formation of a new pit gap upside from yesterday pit high 33745.
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  • #7,914
  • Dec 3, 2020 5:36am Dec 3, 2020 5:36am
ps: obviously 34425 is now extraordinary weak as it is a perfect tag by 3 different sessions of a monthly high......
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  • #7,915
  • Dec 3, 2020 5:56am Dec 3, 2020 5:56am
Quoting Lock
ps: obviously 34425 is now extraordinary weak as it is a perfect tag by 3 different sessions of a monthly high......
and in fact it has been taken out... Have a nice continuation PPS: 3466 is GB 2020 high and is possible if acceptation above 34425.
Ubi maior minor cessat
  • #7,916
  • Dec 3, 2020 12:10pm Dec 3, 2020 12:10pm
Quoting Lock
{quote} {quote} Failure below B period low and target acquired at 34425. (3 pips below target is enough for me to scale of or esc totally).... As simple as it can be if you will follow market generated information. I'm off for today, have a nice continuation. For those who will continue to trade I suggest to monitor for the possible formation of a new pit gap upside from yesterday pit high 33745.
This new huge gap upside from 33745 has been in fact very important as it is a form of excess that clearly support the following Pit action upside, that managed to test absolute 2020 high at 3482

Quoting Lock
{quote} and in fact it has been taken out... Have a nice continuation PPS: 3466 is GB 2020 high and is possible if acceptation above 34425.
And it got it (3466) after acceptation above 34425 (even though it did it during next preUS session so maybe this acceptation is not strictly related with next action performed by new participants...)
The interesting thing is actually that GB close at 34955, above 3466 (2020 GB previous high) but also above the absolute 2020 high 3482 made by PreUS session during September.

Current absolute 2020 high is weak and poor at round number 3500. And 3475 half back is weak: so a liquidation is always possible but take note of that high...

See you tomorrow. And please, if you like my notes, subscribe me. Thank you.
Ubi maior minor cessat
  • #7,917
  • Edited 1:02am Dec 4, 2020 12:48am | Edited 1:02am
We are in a monthly, weekly and daily(*?) trend upside.

*in the daily timeframe we actually are in an attempted rally from balance: if today will close without taking out yesterday low we can start to call current daily action as a trend upside. Otherwise we have to consider the daily timeframe as a balance.

Yesterday PreUS and PIt made a test above highest levels of 2020 (3466 GB high, 3473 Pit High and 3482 PreUS absolute high) and they established a poor high at round number 3500. Furthermore GB managed to close above those previous highs at 34955.

Now this action is supported 2 different gaps, one made by GB from 3387 to 33905 and the next one by Pit from 33745 to 3432. Considering the trend situation, unless such gaps will be filled and acceptation found below their bases (3387 GB and 33745 PIT) odds are in favor for a continuation upside at least in order to take out current weak and poor 2020 high at 3500 or eventually a test of 2019 absolute high at 35145.

Having written this I suggest to note that the structure below those new gaps is more than ugly. So in the case of a rejection above 3500 or above 35145 be prepared for a test of new gaps and in case of acceptation below them, be ready for a possible massive liquidation.

If instead you will find acceptation above 3500 and above 35145 the trend can continue and the main zone to consider as a possible obstacle is around 3700.

So main levels for upcoming GB session are (from top to bottom):

  1. 35145 possible target in case of continuation upside
  2. yesterday GB close 34955
  3. 2020 GB high 3466
  4. yesterday GB high 34545
  5. 2019 GB high 34295
  6. September 2020 GB highest close 34145
  7. November high 3397
  8. 33905 (yesterday GB poor low) and 3387 (GB gap base) possible targets downside in case of failure above one of the highest refs listed.

Monitor for the possible formation of a further new GB gap from yesterday high 34545

PS: if you consider useful my reports and notes, please, take into consideration to support my work subscribing me. Thank you.

Ubi maior minor cessat
  • #7,918
  • Dec 4, 2020 1:34am Dec 4, 2020 1:34am
Hi Lock,

great job you have been doing.

I have an important level at 1.3371
  • #7,919
  • Dec 4, 2020 1:56am Dec 4, 2020 1:56am
Quoting pipcenturion
Hi Lock, great job you have been doing. I have an important level at 1.3371
Thank you very much.

33765 is the highest GB close of November and is well below yesterday GB gap base 3387. If this will reached and accepted it will mean a possible rejection of current trend upside. SO it is possible but, take this market a piece at a time.

If GB will open inside yesterday GB session range 33905-34545: balance at least initially is expected.
Ubi maior minor cessat
  • #7,920
  • Dec 4, 2020 1:59am Dec 4, 2020 1:59am
34295 GB 2019 is also close to yesterday GB pull back low (just a pip above it): this level can be crucial for next GB development even if not reached.
Ubi maior minor cessat
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