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Lock's Cable Corner

  • #8,021
  • Dec 11, 2020 7:33am Dec 11, 2020 7:33am
Quoting pipcenturion
Seems we had a fail attempt to rally at 1.32346 Sellers might re - enter there.
how did you decided it is a FAIL
  • #8,022
  • Dec 11, 2020 7:34am Dec 11, 2020 7:34am
Quoting Bacco
{quote} waiting to short at 3240
Looks good, I moved my sell limit to 1.3247

Current value area for today is at 1.32514
  • #8,023
  • Dec 11, 2020 7:39am Dec 11, 2020 7:39am
Quoting 15k-week
{quote} how did you decided it is a FAIL
We had a bullish close but the next candle closed lower than the bearish candle before the bullish one.

See the screen shot below.
Attached Image (click to enlarge)
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  • #8,024
  • Dec 11, 2020 7:43am Dec 11, 2020 7:43am
Quoting pipcenturion
{quote} Looks good, I moved my sell limit to 1.3247 Current value area for today is at 1.32514
Im waiting the 2h close in 20 min. i will open at market price. hope is gonna hold around 3240 for a while

This retrace is giving a nice gift for a swing down....to whom wanna keep a short open during wend.... or we ll wake up with a nice gift on monday or with a slap in our face.
Twitter: Rummer_grapes
  • #8,025
  • Dec 11, 2020 7:45am Dec 11, 2020 7:45am
32595 is Pit 2019 close: crucial level. 32635 is yesterday Pit low (gap base)
Ubi maior minor cessat
  • #8,026
  • Dec 11, 2020 7:50am Dec 11, 2020 7:50am
Quoting pipcenturion
{quote} Looks good, I moved my sell limit to 1.3247 Current value area for today is at 1.32514
The value area for today is at 1.32514

The first touch of this level is usually a bounce (not a break).
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  • #8,027
  • Dec 11, 2020 7:52am Dec 11, 2020 7:52am
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...
Now, all this action is a short covering of inventories Tokyo and GB sessions action downside. The level I stressed (31765) is instead a structural one. All what you saw after October close is based upon it: we had an attempted rally above inside month balance. The top of that balance is 31765 (for pit sessions) while for GB sessions is 3150.

So price action above it, means that the attempted rally above monthly balance is not concluded yet. Acceptation below such level can mean the opposite: back into October balance and eventually back to October low.
Ubi maior minor cessat
  • #8,028
  • Dec 11, 2020 7:59am Dec 11, 2020 7:59am
Now I will watch 1.31652 or 1.3125 to take profit

Reason for the sell was a simple bounce from today's value area.
Attached Image (click to enlarge)
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  • #8,029
  • Dec 11, 2020 8:01am Dec 11, 2020 8:01am
Quoting pipcenturion
{quote} The value area for today is at 1.32514 The first touch of this level is usually a bounce (not a break). {image}
A value area is (as the word says) an area of price, not a level. If you speak about a price (given by some sort of volume calculation) you may speak of VPOC (instead of POC). A POC is the Point Of Control of a certain value area. A V POC is a Volume Point Of Control for a given area.

And by the way there is a dedicated thread to such kind of analysis. Really nothing against it but this is not the place for it. This thread is dedicated to a different method to organize market generated information, based upon Jim Dalton teachings.
Ubi maior minor cessat
  • #8,030
  • Dec 11, 2020 8:09am Dec 11, 2020 8:09am
Quoting Lock
{quote} A value area is (as the word says) an area of price, not a level. If you speak about a price (given by some sort of volume calculation) you may speak of VPOC (instead of POC). A POC is the Point Of Control of a certain value area. A V POC is a Volume Point Of Control for a given area. And by the way there is a dedicated thread to such kind of analysis. Really nothing against it but this is not the place for it. This thread is dedicated to a different method to organize market generated information, based upon Jim Dalton teachings.
If I call it Volume Point Of Control, it will be mis-leading because I do not use market profile.

I created my own system where I re-adjust price by volume. So I call it VAP (Volume Adjusted Price).

I read your notes because you do something similar even though we call them by different names.

I can stop posting if it makes you feel uncomfortable.
  • #8,031
  • Dec 11, 2020 8:11am Dec 11, 2020 8:11am
Quoting pipcenturion
Now I will watch 1.31652 or 1.3125 to take profit Reason for the sell was a simple bounce from today's value area. {image}
Again, it can also be as 2+2=4 like 1+1+2=4. We can obtain the same results with different approaches: nothing bad into this. But I repeat it here: we are using here different methodologies to analyze and organize market provided information. And this thread is dedicated to the way Jim Dalton uses to do such work of analysis.

Example: do you agree upon the simple fact that the close 32595 of an entire year (in this case 2019) is a fundamental data that any trader in the world will use? I think yes. You see price coming upside for almost 120 pips, then it stopped 4 pips below such level. So what? Is this stop meaningful? Yes it is. Then sell. And place your stops above it somewhere. If you are right you are going to profit as the next visible important level downside is Gen month unch 3209. If not you are going to lose a little.
This is a way to analyze market action. And is the way used in this thread.
Ubi maior minor cessat
  • #8,032
  • Dec 11, 2020 8:16am Dec 11, 2020 8:16am
Quoting pipcenturion
{quote} If I call it Volume Point Of Control, it will be mis-leading because I do not use market profile. I created my own system where I re-adjust price by volume. So I call it VAP (Volume Adjusted Price). I read your notes because you do something similar even though we call them by different names. I can stop posting if it makes you feel uncomfortable.

Absolutely not. You are gentle and polite and you are welcome. There's no problem to express different strategies and different approaches. Especially if they are related somehow to the main theme of this thread. I only suggest to do a clear and substantial explanation of your methodology in a dedicated post (or more than one if you need more space) in order to let other members to understand your data and eventually integrate them in their (our) analysis.
The problem is that those who are following this thread, me included, have no idea whats so ever of your personal approach and consequently we cannot appreciate what you are writing.
Use this week end, if you like and if you have time, to explain your method to us.
Ubi maior minor cessat
  • #8,033
  • Dec 14, 2020 12:23am Dec 14, 2020 12:23am
Triple pass GB gap at 33675-3377
Ubi maior minor cessat
  • #8,034
  • Dec 14, 2020 12:25am Dec 14, 2020 12:25am
Quoting Lock
Triple pass GB gap at 33675-3377
And double in 33325-33675
Ubi maior minor cessat
  • #8,035
  • Dec 14, 2020 12:31am Dec 14, 2020 12:31am
Note GB week close at 3194 exactly at 2019 GB close level (also Jan 2020 close): we are almost 200 pips above that level.
Ubi maior minor cessat
  • #8,036
  • Dec 14, 2020 12:34am Dec 14, 2020 12:34am
While 2019 GB high is at 34295: so current price action is above last year close (3194) and slightly below last year high. Including obviously 2016 Brexit low 3227 and current GB highest close 34955 I think these are the main psychological levels of these last days of 2020 before Brexit "deal"
Ubi maior minor cessat
  • #8,037
  • Dec 14, 2020 12:40am Dec 14, 2020 12:40am
Note btw that 3377 is December GB open... So today GB opened at Monthly open. Nothing changed at all in the last 13 days..
Ubi maior minor cessat
  • #8,038
  • Dec 14, 2020 12:58am Dec 14, 2020 12:58am
Opportunity: B period can be an inside one. If so balance rules apply
Ubi maior minor cessat
  • #8,039
  • Dec 14, 2020 1:27am Dec 14, 2020 1:27am
Quoting Lock
Opportunity: B period can be an inside one. If so balance rules apply
..and maybe C inside B?
Ubi maior minor cessat
  • #8,040
  • Dec 14, 2020 2:08am Dec 14, 2020 2:08am
Quoting Lock
{quote} ..and maybe C inside B?
So, here's the opportunity: from inside C period attempted rally (2019 GB re tested). Above we got 3466, 3483, 34935 and 34955. But without acceptation above GB 2019 high 34295, back to the mean and possible filling of triple pass GB gap 33675-3377
Ubi maior minor cessat
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