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Lock's Cable Corner

  • #8,081
  • Dec 17, 2020 12:05am Dec 17, 2020 12:05am
Quoting Lock
{quote} I was partially wrong as GB managed with complex maneuvers without waiting for preUS to test of its own the absolute PreUS high 35395: now the game is clearly in the hands of upcoming preUS and Pit participants: As written, anyhow, for continuation upside we need clear acceptation of Pit above this level. If rejected, I can see only a substantial liquidation. If accepted, watch out as it can be something serious. Note that there is an old Pit gap downside from 3556 to 35365. Pit can be interested...
Pre US tested 35395, found nothing above it and started a liquidation that lasted for more than 80 pips.

Then, from yesterday evening until now we saw a complete reversal upside: the game now is about a possible new gap upside from yesterday GB high 3549. Monitor carefully for GB open level. Above or below 3549. Yesterday GB close is at 3502: for continuation upside you want to see price accepted above 3502 and 3549. If acceptation above them I can see a possible GB rally up to 36175 (as first step, and then eventually up to 3666 GB old 1 pip gap)
If accepted below, instead, an other substantial liquidation is possible, down to GB November high 3397
Ubi maior minor cessat
  • #8,082
  • Dec 17, 2020 5:11am Dec 17, 2020 5:11am
Quoting Lock
{quote}[...] the game now is about a possible new gap upside from yesterday GB high 3549. Monitor carefully for GB open level. Above or below 3549. Yesterday GB close is at 3502: for continuation upside you want to see price accepted above 3502 and 3549. If acceptation above them I can see a possible GB rally up to 36175 (as first step, and then eventually up to 3666 GB old 1 pip gap) If accepted below,...
New gap upside from yesterday GB high 3549, attempted rally toward May 2018 GB bracket high 36175.

Note anyhow that 3608 is an important Pit level I stressed yesterday: it's a weekly back to back highs from May 2018
Ubi maior minor cessat
  • #8,083
  • Dec 17, 2020 5:20am Dec 17, 2020 5:20am
Quoting Lock
{quote} New gap upside from yesterday GB high 3549, attempted rally toward May 2018 GB bracket high 36175. Note anyhow that 3608 is an important Pit level I stressed yesterday: it's a weekly back to back highs from May 2018
I consider this target acquired ( 36175): note that it is now a very weak level as it is a tag of a previous old 2018 GB level.
Ubi maior minor cessat
  • #8,084
  • Dec 17, 2020 5:22am Dec 17, 2020 5:22am
Quoting Lock
{quote}[...]: for continuation upside you want to see price accepted above 3502 and 3549. If acceptation above them I can see a possible GB rally up to 36175 (as first step, and then eventually up to 3666 GB old 1 pip gap) If accepted below, instead, an other substantial liquidation is possible, down to GB November high 3397
Now, If acceptation above 36175 we have the single pip 2018 GB gap at 3666
Ubi maior minor cessat
  • #8,085
  • Dec 17, 2020 5:25am Dec 17, 2020 5:25am
In any case watch out as we are before news and I see a weak GB structure at least down to 3590 or even 3580
Ubi maior minor cessat
  • #8,086
  • Dec 17, 2020 5:55am Dec 17, 2020 5:55am
Actually all this rally upside from yesterday Pit session is a weak one: it started with a weak base at 34855 Pit HB, it continued with a Tokyo poor low at 34955 and then with a GB HB at 3577 (double). If it has reasons to continue higher, fine. If not a furious liquidation is possible at any moment in time. The only current support is given by today GB gap higher from yesterday GB high 3549. If for what ever reason you'll see acceptation below it, expect something serious downside.

...if instead you'll see a clear acceptation above 36175, expect a test of 3666.
Ubi maior minor cessat
  • #8,087
  • Dec 17, 2020 6:59am Dec 17, 2020 6:59am
Quoting Lock
In any case watch out as we are before news and I see a weak GB structure at least down to 3590 or even 3580
...and here you have a final GB liquidation to 3590-80...
Ubi maior minor cessat
  • #8,088
  • Dec 17, 2020 7:00am Dec 17, 2020 7:00am
See you later during Pit session or tomorrow. Have a nice continuation
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  • #8,089
  • Dec 17, 2020 7:31am Dec 17, 2020 7:31am
Quoting Lock
See you later during Pit session or tomorrow. Have a nice continuation
Amazing levels reached ! Always happen when I am out of the market
let’s see what’s next I am on light trading anyways
  • #8,090
  • Dec 17, 2020 7:55am Dec 17, 2020 7:55am
Sick analysis Lock. Thanks for always providing clear details and information. Green pips thanks to you, cheers!
  • #8,091
  • Dec 17, 2020 9:44am Dec 17, 2020 9:44am
Opportunity: back to back poor highs GB and Pit: 3604 and 3624
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  • #8,092
  • Dec 17, 2020 9:49am Dec 17, 2020 9:49am
Quoting Lock
Opportunity: back to back poor highs GB and Pit: 3604 and 3624

I'm not saying it has to go there now: I'm saying that we have a yearly poor high in the two major sessions GB and Pit: never happened before. So if it will continue lower, before or after it has to takeout at least one of them.
Ubi maior minor cessat
  • #8,093
  • Dec 17, 2020 10:07am Dec 17, 2020 10:07am
C inside period: balance rules apply. Reasons to go higher 3604 Pit PH, 3608 major Pit level (back to back weekly highs from 2018) and GB yearly poor high 3628.

If something will go wrong upside, reasons to go down: the double Pit gap at 35365-3555 and weak structure down to 3486.

If failure above one of these levels, liquidation is almost sure. If success, expect something major upside.
Ubi maior minor cessat
  • #8,094
  • Dec 17, 2020 10:58am Dec 17, 2020 10:58am
Watch out after GB close 2min...
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  • #8,095
  • Dec 17, 2020 11:03am Dec 17, 2020 11:03am
Quoting Lock
C inside period: balance rules apply. Reasons to go higher 3604 Pit PH, 3608 major Pit level (back to back weekly highs from 2018) and GB yearly poor high 3628. If something will go wrong upside, reasons to go down: the double Pit gap at 35365-3555 and weak structure down to 3486. If failure above one of these levels, liquidation is almost sure. If success, expect something major upside.
two targets 3604 and 3608 taken out after rally above C inside period. Watch out if you will not see acceptation above 3608 as structure downside is ugly. (same thing if 3628 reached)
Ubi maior minor cessat
  • #8,096
  • Dec 17, 2020 11:05am Dec 17, 2020 11:05am
And please subscribe me it you consider useful my comments. Thank you
Ubi maior minor cessat
  • #8,097
  • Dec 17, 2020 11:08am Dec 17, 2020 11:08am
Quoting Lock
{quote} two targets 3604 and 3608 taken out after rally above C inside period. Watch out if you will not see acceptation above 3608 as structure downside is ugly. (same thing if 3628 reached)
If there is no acceptation above 3608, how low do you think the pair would go?
  • #8,098
  • Dec 17, 2020 11:45am Dec 17, 2020 11:45am
Quoting HiImNew
{quote} If there is no acceptation above 3608, how low do you think the pair would go?
3549 is key level
  • #8,099
  • Dec 17, 2020 12:04pm Dec 17, 2020 12:04pm
Testing 3608 for the second time
  • #8,100
  • Dec 17, 2020 12:57pm Dec 17, 2020 12:57pm
Quoting HiImNew
{quote} If there is no acceptation above 3608, how low do you think the pair would go?
As it only tagged it I consider 3608 3624 a weak level: It is not clearly a good year high as it is a poor GB high also tagged by a Pit session. So even if a liquidation is always possible considering the structure below, I think this level should be re-tested again, before or after. Monitor for Pit POC migration upside to have a clue.
Ubi maior minor cessat
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