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Lock's Cable Corner

  • #7,961
  • Dec 9, 2020 12:26am Dec 9, 2020 12:26am
Most important levels for GB:

  1. 34295 GB 2019 high
  2. 34145 highest September GB close
  3. 34095 the top of the last GB gap downside
  4. 3397 GB November high
  5. 3387-33905 GB double gap
  6. 3382 GB December open
  7. 33765 highest GB November close
  8. 33675 GB inside session high (breakeven)
  9. 3356 yesterday GB close
  10. 3338 GB November close
  11. 33035 GB last week low
  12. 32975 GB week balance high (weekly breakeven)

Ubi maior minor cessat
  • #7,962
  • Dec 9, 2020 12:33am Dec 9, 2020 12:33am
I have 1.3450 as the untested value area to the upside.

Sellers ought to be waiting there or slightly higher.

Trade safe!
  • #7,963
  • Dec 9, 2020 12:44am Dec 9, 2020 12:44am
Quoting pipcenturion
I have 1.3450 as the untested value area to the upside. Sellers ought to be waiting there or slightly higher. Trade safe!
3451 is a composite profile poc. And I've no problem to stay with such a possible action upside. But, as always, take this market a piece at a time, step by step.

Btw, if you are interested in our value area zone take a look at major data: 3340 is the top of last years value area. If eventually price will go significantly higher you should consider this action as an initiative yearly attempt upside (evading yearly major value area going to the higher yearly POC). If instead you'll see price rejected upside and significantly accepted below 3340, you'll probably have a correction toward current yearly poc that is at 2935
Ubi maior minor cessat
  • #7,964
  • Dec 9, 2020 2:11am Dec 9, 2020 2:11am
Quoting Lock
{quote} As you can see Pit , Sydney and Tokyo sessions already attempted a break upside from GB balance range (above 33675) and they also already tested the top of the containing GB session (33765): the problem is that we have a GB double pass gap at 3387-33905 and if you'll see a Tokyo rally and a GB open above such zone you'll have a triple pass gap there. A triple pass gap is a very rare "condition" for a market: generally market participants tend to be attracted by gaps, more than attracted by double pass gaps and extremely...
GB opened slightly below December GB open 3382 and immediately run to check 3387.
Ubi maior minor cessat
  • #7,965
  • Dec 9, 2020 2:13am Dec 9, 2020 2:13am
Note also that while doing so GB also tagged 3377 that is the top of the GB containing session (the GB session that contains yesterday GB inside session)
Ubi maior minor cessat
  • #7,966
  • Dec 9, 2020 2:14am Dec 9, 2020 2:14am
So this is an attempted rally above yesterday GB balance (above 33675 and 3377): balance rules apply!
Ubi maior minor cessat
  • #7,967
  • Dec 9, 2020 2:16am Dec 9, 2020 2:16am
And 34095 is the top of the GB gap downside: note that GB opened with a gap above yesterday inside session high 33765
Ubi maior minor cessat
  • #7,968
  • Dec 9, 2020 2:20am Dec 9, 2020 2:20am
Now the GB gap and the double gap pass have been filled: please note that in this zone we have also a PIT double pass gap 3306-3420: this zone can attract Pit participants in the following sessions, so take note of it and especially if you see price evading this zone any further (above or below)
Ubi maior minor cessat
  • #7,969
  • Dec 9, 2020 2:27am Dec 9, 2020 2:27am
Very elongated A period: take note..
Ubi maior minor cessat
  • #7,970
  • Dec 9, 2020 2:28am Dec 9, 2020 2:28am
Quoting Lock
Very elongated A period: take note..

And please subscribe me if you like my notes, thank you.
Ubi maior minor cessat
  • #7,971
  • Dec 9, 2020 2:28am Dec 9, 2020 2:28am
Quoting Lock
Now the GB gap and the double gap pass have been filled: please note that in this zone we have also a PIT double pass gap 3306-3420: this zone can attract Pit participants in the following sessions, so take note of it and especially if you see price evading this zone any further (above or below)
Note the perfect tag of 3420 (preTest of a pit level)
Ubi maior minor cessat
  • #7,972
  • Dec 9, 2020 2:34am Dec 9, 2020 2:34am
You want acceptation above GB November high 3397 for any serious continuation upside, if not watch out for retracement: take note of current GB poor high at 3420.
Ubi maior minor cessat
  • #7,973
  • Dec 9, 2020 2:39am Dec 9, 2020 2:39am
Quoting Lock
Now the GB gap and the double gap pass have been filled: please note that in this zone we have also a PIT double pass gap 3306-3420: this zone can attract Pit participants in the following sessions, so take note of it and especially if you see price evading this zone any further (above or below)
Note GB balancing exactly in this zone: they know its importance and the risks involved if they evade it...
Ubi maior minor cessat
  • #7,974
  • Dec 9, 2020 2:54am Dec 9, 2020 2:54am
34295 is GB 2019 high
Ubi maior minor cessat
  • #7,975
  • Dec 9, 2020 4:34am Dec 9, 2020 4:34am
Quoting pipcenturion
I have 1.3450 as the untested value area to the upside. Sellers ought to be waiting there or slightly higher. Trade safe!
Just as Said,. Now lets see what happens from here
  • #7,976
  • Dec 9, 2020 4:35am Dec 9, 2020 4:35am
Quoting pipcenturion
I have 1.3450 as the untested value area to the upside. Sellers ought to be waiting there or slightly higher. Trade safe!
So here you are at the POC 3451: as you see your target was possible and has been acquired.

It is very important to have a good possible target (as this is a reason to place a position): the important thing is to have also a good place to set your stops and market generated information is what any trader need to understand important references to find that place. Also, when you place a position, it is always better to have more reasons at the same time to go toward a certain location.

Example: this morning, before GB opened, Tokyo went down and tested yesterday inside GB session high 33675. We were below the GB double pass gap 3387-33905 ( a first good reason to buy as we know GB participants probably will be interested in such area) and we were testing the possible breakeven of a possible rally above inside session balance (directional move) and this was a second good reason to place a long. Then, and this is crucial, we had also a good place to set our stops: just below GB inside session high 33675. If wrong we are going to loose only few pips if right our reward will be exponentially higher. And it worked.

Now I did not take that position as I entered after GB open because at that moment in time I also had a new GB gap upside from yesterday GB inside balance high 33675 that could have worked as support: and it worked anyway.

Note that now, for the same reason I waited for a GB open below 3387-33905 to place a long I do not want to carry forward a long above Pit double pass gap 3306-3420 before Pit open. So take care.
Ubi maior minor cessat
  • #7,977
  • Dec 9, 2020 4:57am Dec 9, 2020 4:57am
F is for now a balance period_ balance rules apply if so also at G period open.
Ubi maior minor cessat
  • #7,978
  • Dec 9, 2020 5:05am Dec 9, 2020 5:05am
I will not follow preUS and Pit sessions.
Ubi maior minor cessat
  • #7,979
  • Dec 9, 2020 5:09am Dec 9, 2020 5:09am
Quoting Lock
I will not follow preUS and Pit sessions.

..if for whatever reason upcoming Pit session will skip the filling the double pass gap at 3406-3420 especially if it open above it (making it a triple pass gap): carry forward this very precious info as a double (and maybe even triple) pass gap will remain a very interesting zone until it will be eventually filled.
Ubi maior minor cessat
  • #7,980
  • Dec 9, 2020 7:05am Dec 9, 2020 7:05am
Quoting Lock
I will not follow preUS and Pit sessions.
Please kindly explain, what exactly is a Pit Session???
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