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Lock's Cable Corner

  • #8,141
  • Dec 29, 2020 4:32am Dec 29, 2020 4:32am
Quoting titi14
GB doesn't want to test the poor highs it seems..... Lock whats your view?
I think that if it want to test before next year we only have today and tomorrow. Then bank holiday, so...

Some possibilities are:
take out triple pass GB gap 3450-3473 downside and attempt upside for the highs
or
immediately attempt upside, leaving the triple gap for next year..
Ubi maior minor cessat
  • #8,142
  • Dec 29, 2020 4:35am Dec 29, 2020 4:35am
Quoting Lock
{quote} I think that if it want to test before next year we only have today and tomorrow. Then bank holiday, so... Some possibilities are: take out triple pass GB gap 3450-3473 downside and attempt upside for the highs or immediately attempt upside, leaving the triple gap for next year..
Does the low of the previous hour 3468 count??? or does it have to reach 3450??
  • #8,143
  • Dec 30, 2020 12:43am Dec 30, 2020 12:43am
Quoting titi14
{quote} Does the low of the previous hour 3468 count??? or does it have to reach 3450??
A gap is an un-tested price zone: before it was 3450-3473 now it is 3450-3468 as the small portion from 3468 to 3473 has been tested by GB session. The remaining portion is still un-tested. That's all.
Ubi maior minor cessat
  • #8,144
  • Dec 30, 2020 12:57am Dec 30, 2020 12:57am
Note that yesterday is an inside day (and also an inside Pit session): so consider current action as an attempted rally from balance and balance rules apply.
Ubi maior minor cessat
  • #8,145
  • Dec 30, 2020 2:17am Dec 30, 2020 2:17am
Something significant is going to happen.
Ubi maior minor cessat
  • #8,146
  • Dec 30, 2020 2:39am Dec 30, 2020 2:39am
Quoting Lock
Something significant is going to happen.
can you please elaborate more? 3624 you mean?
  • #8,147
  • Dec 30, 2020 4:59am Dec 30, 2020 4:59am
Quoting titi14
{quote} can you please elaborate more? 3624 you mean?
price anticipated my answer...
Ubi maior minor cessat
  • #8,148
  • Dec 30, 2020 5:03am Dec 30, 2020 5:03am
almost 43 hours ago I wrote:

Quoting Lock
You know? It's funny. We are in the last days of December 2020 and we got yearly GB poor high at 3624 tagged by a Pit yearly poor high (then also weak) and followed by a new GB session poor high at 36195... and followed by a Tokyo poor high at 3576... Why it's funny? As price is currently at GB 2019 high 34295....
and from 34295 here you are around 3624 zone re-test
Ubi maior minor cessat
  • #8,149
  • Dec 30, 2020 5:22am Dec 30, 2020 5:22am
3610 (current session high) is poor too. So we got 3 back to back GB sessions poor highs and one of them is yearly....

From here it can do whatever but you may be sure that before or after it will take out those levels.
Ubi maior minor cessat
  • #8,150
  • Dec 30, 2020 5:37am Dec 30, 2020 5:37am
Quoting Lock
3610 (current session high) is poor too. So we got 3 back to back GB sessions poor highs and one of them is yearly.... From here it can do whatever but you may be sure that before or after it will take out those levels.
would love to know if your favouring such move today considering price is at 3600 now...

Many thanks for all your insights by the way
  • #8,151
  • Dec 30, 2020 5:43am Dec 30, 2020 5:43am
Quoting titi14
{quote} would love to know if your favouring such move today considering price is at 3600 now... Many thanks for all your insights by the way
I really cannot say it for sure. It can be tricky, obviously, as I'm not the only one to see those weak levels and someone could bet against such an excess of certainty by most of current traders involved.

In any case for now, price bounced above 3609 that is GB December highest close (and also 2020 GB highest close): maybe after some liquidation or balance it will be retested. And this is the simple possibility (without tricks).
Ubi maior minor cessat
  • #8,152
  • Dec 30, 2020 5:48am Dec 30, 2020 5:48am
Quoting Lock
almost 43 hours ago I wrote: {quote} and from 34295 here you are around 3624 zone re-test
brilliant lock. lets see if we can take out 3609
  • #8,153
  • Dec 30, 2020 5:48am Dec 30, 2020 5:48am
Now, an important thing to consider is also that: if it eventually will take out those levels, up to 3624 and if it will not get acceptation above them, expect some serious liquidation at least down to the base of the triple GB gap (3450)

If instead it will test them and find acceptation above them, well, something really important will occur upside.
Ubi maior minor cessat
  • #8,154
  • Dec 30, 2020 5:53am Dec 30, 2020 5:53am
Quoting Lock
Now, an important thing to consider is also that: if it eventually will take out those levels, up to 3624 and if it will not get acceptation above them, expect some serious liquidation at least down to the base of the triple GB gap (3450) If instead it will test them and find acceptation above them, well, something really important will occur upside.
issue is if not stopped now it can go to 3724.3457 is the weekly pivot. so i get your 3454.liquidation should happen in this next 10 pips
  • #8,155
  • Dec 30, 2020 5:57am Dec 30, 2020 5:57am
Quoting giveachance
{quote} issue is if not stopped now it can go to 3724.3457 is the weekly pivot. so i get your 3454.liquidation should happen in this next 10 pips

In any case I already scaled out my positions. We still have the last 2 periods of the GB session and it can be really tricky now. Watch out.

In case of continuation upside I see 3666 as a first step. But I repeat it:watch out as structure downside is ugly.
Ubi maior minor cessat
  • #8,156
  • Dec 30, 2020 5:59am Dec 30, 2020 5:59am
Quoting Lock
{quote} In any case I already scaled out my positions. We still have the last 2 periods of the GB session and it can be really tricky now. Watch out. In case of continuation upside I see 3666 as a first step. But I repeat it:watch out as structure downside is ugly.
yes especially after 3220 was taken out. it has unfinished business still on the downside but timing of that who knows. books will likely be closed in next 4 hrs as most will be out for new year tomorrow
  • #8,157
  • Dec 30, 2020 6:19am Dec 30, 2020 6:19am
You know what? I think my last positions made my day and probably I'll not be present tomorrow...

so I wish everyone a happy new year!

Have a nice continuation and see you soon.
Ubi maior minor cessat
  • #8,158
  • Dec 30, 2020 6:45am Dec 30, 2020 6:45am
Quoting Lock
You know what? I think my last positions made my day and probably I'll not be present tomorrow... so I wish everyone a happy new year! Have a nice continuation and see you soon.
All the best Lock!

A very Happy New Year to you too!
  • #8,159
  • Dec 30, 2020 11:42pm Dec 30, 2020 11:42pm
Happy New Year to everyone especially Lock for his useful insights on this thread! More green pips to come next year
  • #8,160
  • Dec 31, 2020 3:13am Dec 31, 2020 3:13am
Quoting HiImNew
Happy New Year to everyone especially Lock for his useful insights on this thread! More green pips to come next year
Yes Mate , Lock’s thread is the best you will ever find a true hidden gem with all the noise
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