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Lock's Cable Corner

  • #8,001
  • Dec 11, 2020 1:01am Dec 11, 2020 1:01am
I also have 1.32979 as a value area for today.

Buyers might be interested at this level.

Trade safe!
  • #8,002
  • Dec 11, 2020 2:17am Dec 11, 2020 2:17am
Quoting Lock
Note that the last 2 Pit periods are based upon Half back level 3292 and the entire pit session is based upon the extremely weak level 32635: carry forward these precious info if something will go wrong upside...
32635 retested by GB: note GB opened tagged yes GB close 3291 and went down, leaving also a Tokyo poor high at 33245: 2 back to back weak levels to remember of if something will go wrong downside...

Yesterday low 3245, then 2020 Gen high 32305, Brexit low 3227 and current GB December low 3224: all possible supports.
Ubi maior minor cessat
  • #8,003
  • Dec 11, 2020 2:18am Dec 11, 2020 2:18am
If instead this is serious downside: I must admit, I totally lost it. But let's see as we are before news.
Ubi maior minor cessat
  • #8,004
  • Dec 11, 2020 2:26am Dec 11, 2020 2:26am
Quoting Lock
{quote} 32635 retested by GB: note GB opened tagged yes GB close 3291 and went down, leaving also a Tokyo poor high at 33245: 2 back to back weak levels to remember of if something will go wrong downside... Yesterday low 3245, then 2020 Gen high 32305, Brexit low 3227 and current GB December low 3224: all possible supports.
Now December GB low 3224 is weak as it is a perfect tag: take note.
Ubi maior minor cessat
  • #8,005
  • Dec 11, 2020 2:31am Dec 11, 2020 2:31am
Quoting Lock
{quote} Now December GB low 3224 is weak as it is a perfect tag: take note.
double tag 3224: very weak now.
Ubi maior minor cessat
  • #8,006
  • Dec 11, 2020 2:41am Dec 11, 2020 2:41am
very elongated profile, 3224 taken out: if it is serious you'll see acceptation below 3224. If not all the way back upside up to 3324 and then double pass GB gap 33675-3377. If it is serious we have huge spaces downside. First possible targets are:32005, 3188, 3186, 31665, 3159 and 3150 (inside October GB month high)
Ubi maior minor cessat
  • #8,007
  • Dec 11, 2020 3:17am Dec 11, 2020 3:17am
3237 HB
Ubi maior minor cessat
  • #8,008
  • Dec 11, 2020 3:19am Dec 11, 2020 3:19am
3245 yes GB low
Ubi maior minor cessat
  • #8,009
  • Dec 11, 2020 3:44am Dec 11, 2020 3:44am
Quoting Lock
3245 yes GB low
if we get acceptation above it 3245 we have a failure downside confirmation. If not: balance or retest downside.
Ubi maior minor cessat
  • #8,010
  • Dec 11, 2020 3:47am Dec 11, 2020 3:47am
Quoting Lock
very elongated profile, 3224 taken out: if it is serious you'll see acceptation below 3224. If not all the way back upside up to 3324 and then double pass GB gap 33675-3377. If it is serious we have huge spaces downside. First possible targets are:32005, 3188, 3186, 31665, 3159 and 3150 (inside October GB month high)
I'm long after 3224 failure (not accepted below it): but I'm ready to re think my position if I'll not see a clear and fast acceptation above 3245 yesterday GB low
Ubi maior minor cessat
  • #8,011
  • Dec 11, 2020 3:51am Dec 11, 2020 3:51am
Quoting Lock
{quote} I'm long after 3224 failure (not accepted below it): but I'm ready to re think my position if I'll not see a clear and fast acceptation above 3245 yesterday GB low
....double checked... reverse
Ubi maior minor cessat
  • #8,012
  • Dec 11, 2020 3:52am Dec 11, 2020 3:52am
we got balance. Let's see if D will remain an iinside period until close: if so balance rules apply. Possible opportunity.
Ubi maior minor cessat
  • #8,013
  • Dec 11, 2020 3:59am Dec 11, 2020 3:59am
Quoting Lock
{quote} ....double checked... reverse
the reverse after double check 3245 was good, but it's scalping. And I hate scalping.
Ubi maior minor cessat
  • #8,014
  • Dec 11, 2020 4:00am Dec 11, 2020 4:00am
3224 is now accepted. Balance rules will prevale anyway. So take care.
Ubi maior minor cessat
  • #8,015
  • Dec 11, 2020 5:22am Dec 11, 2020 5:22am
Seems price is ready to go test the 1.3125 value area.

From that point or slightly lower, buyers might step in again.

Trade safe!
  • #8,016
  • Dec 11, 2020 7:39am Dec 11, 2020 7:39am
Quoting pipcenturion
Seems price is ready to go test the 1.3125 value area. From that point or slightly lower, buyers might step in again. Trade safe!
when you write "value area" you mean the poc of that value area? Correct?

Anyhow, GB continued its action downside after acceptation below old GB December low 3224 and preUS managed to test 31415 GB October inside month high. Note that the most significant level around here for upcoming Pit session is Pit October inside month high at 31765: acceptation below it can lead us to a full correction of October range. Rejection below it can mean full correction upside.

If acceptation below 31765, next visible and possible targets are 3106 and 3066
Ubi maior minor cessat
  • #8,017
  • Dec 11, 2020 7:48am Dec 11, 2020 7:48am
Quoting Lock
{quote} when you write "value area" you mean the poc of that value area? Correct?
My analysis is a bit different from volume profile.

What I call "value area" is the Volume Adjusted Price of the period with the maximum (absolute) cumulative net volume for the day (it is similar to what they call the POC even though the computation is different).

The cumulative net volume is somewhat similar to cumulative delta volume. I then use the value to re-adjust price.

If you remember, since about 2 weeks ago, I have been mentioning that cable has untested levels around 1.3160 and then 1.3125

This move seems to be what I have been waiting for.

Maybe now the buyers can truly enjoy a proper up move.
  • #8,018
  • Dec 11, 2020 8:28am Dec 11, 2020 8:28am
Quoting Lock
{quote} when you write "value area" you mean the poc of that value area? Correct? Anyhow, GB continued its action downside after acceptation below old GB December low 3224 and preUS managed to test 31415 GB October inside month high. Note that the most significant level around here for upcoming Pit session is Pit October inside month high at 31765: acceptation below it can lead us to a full correction of October range. Rejection below it can mean full correction upside. If acceptation below 31765, next visible and possible targets are 3106 and 3066...
Very fast & furious trading today!
I am done for the week
Have a nice weekend
  • #8,019
  • Dec 11, 2020 8:43am Dec 11, 2020 8:43am
Seems we had a fail attempt to rally at 1.32346

Sellers might re - enter there.
  • #8,020
  • Dec 11, 2020 9:25am Dec 11, 2020 9:25am
Quoting pipcenturion
Seems we had a fail attempt to rally at 1.32346 Sellers might re - enter there.
waiting to short at 3240
Twitter: Rummer_grapes
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