Lock's Cable Corner | Page 409 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #8,161
  • Dec 31, 2020 3:14am Dec 31, 2020 3:14am
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.
Happy New Year Lock
Welcoming you into 2021 with more pips to make more prosperity and good health
warm regards!
  • #8,162
  • Jan 5, 2021 12:20am Jan 5, 2021 12:20am
Clearly we do not have a good yearly high at 3703/4 as it is a Tokyo poor high only tagged by GB high.*

Structure downside is ugly as it was before year close (even though we got some small correction)

*note anyhow that this level coincides (3705) with a major (or THE major) valley in the cumulative yearly profile.
Ubi maior minor cessat
  • #8,163
  • Jan 11, 2021 12:36am Jan 11, 2021 12:36am
Quoting Lock
Clearly we do not have a good yearly high at 3703/4 as it is a Tokyo poor high only tagged by GB high.* Structure downside is ugly as it was before year close (even though we got some small correction) *note anyhow that this level coincides (3705) with a major (or THE major) valley in the cumulative yearly profile.
While confirming that we do not have a good yearly high at 3703/04, note that we are very close to the GB triple pass gap zone 3450-3468: if so at GB open consider this zone of great interest for GB participants...

Note also that if at GB open we will be below 3522, the zone 3522-35295 will become a double pass GB gap

PS: 35145 is 2019 absolute high, while 34295 is GB 2019 high...
Ubi maior minor cessat
  • #8,164
  • Jan 11, 2021 4:11am Jan 11, 2021 4:11am
Quoting Lock
Clearly we do not have a good yearly high at 3703/4 as it is a Tokyo poor high only tagged by GB high.* Structure downside is ugly as it was before year close (even though we got some small correction) *note anyhow that this level coincides (3705) with a major (or THE major) valley in the cumulative yearly profile.
Hello 2021
i like that you mentioned yearly profile as I was looking into it to set my tone for new months, your insight will be highly appreciated
I will start this week my trades
  • #8,165
  • Jan 11, 2021 4:12am Jan 11, 2021 4:12am
Few moves already done, will be light trading I guess let’s see how it pans out next
  • #8,166
  • Jan 12, 2021 1:17am Jan 12, 2021 1:17am
We do not have a good yearly high at 3703-5 as we do not have a good yearly low around 3450-1.

If GB will open above 3557 it will open above a series of multiple gaps (double gap 3557-3516 containing the triple gap 35295-3522, and below them double gap 3464-3444 containing the triple gap 3464-3450)

Now, double and triple gaps tend to attract price and so all these zones can be possible targets for upcoming GB sessions.
Do not forget anyhow that we are in an attempted break downside from Jan 08 GB inside session: its low is 3557. Acceptation above it can reverse the attempted break morphing it in an attempted rally above 3608 toward 3703-05. A failure above 3557 can instead ignite a new attempt downside toward 3450.
Ubi maior minor cessat
  • #8,167
  • Jan 12, 2021 3:25am Jan 12, 2021 3:25am
Quoting Lock
We do not have a good yearly high at 3703-5 as we do not have a good yearly low around 3450-1. If GB will open above 3557 it will open above a series of multiple gaps (double gap 3557-3516 containing the triple gap 35295-3522, and below them double gap 3464-3444 containing the triple gap 3464-3450) Now, double and triple gaps tend to attract price and so all these zones can be possible targets for upcoming GB sessions. Do not forget anyhow that we are in an attempted break downside from Jan 08 GB inside session:...

Note the importance of 3557: it has been the breakeven of current rally upside. Now 35825 is last week GB close: for any serious continuation upside we need acceptation above it.
Ubi maior minor cessat
  • #8,168
  • Jan 12, 2021 4:02am Jan 12, 2021 4:02am
Quoting Lock
{quote} Note the importance of 3557: it has been the breakeven of current rally upside. Now 35825 is last week GB close: for any serious continuation upside we need acceptation above it.
accepted above 3582 in last 2 periods... 3703 next??
  • #8,169
  • Jan 12, 2021 6:08am Jan 12, 2021 6:08am
Quoting titi14
{quote} accepted above 3582 in last 2 periods... 3703 next??
after 3582 there is 3608 (for now only tagged) after that we can eventually aim to something more. Take the market a step at a time. 37 is the weak yearly high. It's a direction (a possible one) more than a target.
Ubi maior minor cessat
  • #8,170
  • Jan 12, 2021 6:13am Jan 12, 2021 6:13am
It's a very weak environment: I suggest to be very very prudent. Poor high, poor low, a lot to do downside, a lot to do upside. Very tricky. And it can liquidate. See you later or tomorrow. I'll not trade preUS and Pit probably.
Ubi maior minor cessat
  • #8,171
  • Jan 13, 2021 12:41am Jan 13, 2021 12:41am
Tokyo tested 2020 GB absolute high 3686.
Other main levels are clearly GB 2020 year close 3664 and yesterday GB close 3635.

In order to understand if it will try to test current weak yearly high around 3703-05 I suggest to monitor for the creation of a new GB gap upside from yesterday GB session high 3607. If so and if respected (not filled) we can probably aim at a retest of 3703-05. If Tokyo will not do it before GB open.

Note that in case of failure above current year high (if tested obviously) we can have a powerful liquidation toward the huge mess of weaknesses left downside at least to yesterday GB poor low 35385 as a first step. At the opposite, in case of acceptation above, we can start to think to the continuation of current monthly trend upside (that has been paused by the last weeks of balance)
Ubi maior minor cessat
  • #8,172
  • Jan 13, 2021 2:14am Jan 13, 2021 2:14am
Quoting Lock
Tokyo tested 2020 GB absolute high 3686. Other main levels are clearly GB 2020 year close 3664 and yesterday GB close 3635. In order to understand if it will try to test current weak yearly high around 3703-05 I suggest to monitor for the creation of a new GB gap upside from yesterday GB session high 3607. If so and if respected (not filled) we can probably aim at a retest of 3703-05. If Tokyo will not do it before GB open. Note that in case of failure above current year high (if tested obviously) we can have...
Note GB action: 3664 to 3686....
Ubi maior minor cessat
  • #8,173
  • Jan 13, 2021 3:36am Jan 13, 2021 3:36am
Quoting Lock
Tokyo tested 2020 GB absolute high 3686. Other main levels are clearly GB 2020 year close 3664 and yesterday GB close 3635. In order to understand if it will try to test current weak yearly high around 3703-05 I suggest to monitor for the creation of a new GB gap upside from yesterday GB session high 3607. If so and if respected (not filled) we can probably aim at a retest of 3703-05. If Tokyo will not do it before GB open. Note that in case of failure above current year high (if tested obviously) we can have a powerful liquidation toward the huge...
@lock in the event we get acceptance above 3703-05, what are the next targets? can you please share?
  • #8,174
  • Jan 14, 2021 12:16am Jan 14, 2021 12:16am
Quoting titi14
{quote} @lock in the event we get acceptance above 3703-05, what are the next targets? can you please share?
Above 3703-05 (where the deepest yearly profile valley actually is) we have the 2018 February-April monthly bracket: it is the monthly balance (or bracket if you like) from which all you saw from March 2018 occurred till now. So it is clearly a crucial zone as above them we have what we got in the last decades, below them we have what we got in the last 2 years, as said.

So I suggest to go in your history and take note of all the main levels of that bracket (monthly opne-closes, bracket upper extremes, main pocs, etc. and put them on your chart. When and if we will get acceptation above 3703-05, those levels will be your "targets"
Ubi maior minor cessat
  • #8,175
  • Jan 14, 2021 12:32am Jan 14, 2021 12:32am
Now, the interesting things occurred yesterday are:

 

  1. nobody managed to re-test current yearly weak high at 3703-05 (and we also have now a second weak zone just below it where GB managed to tag yesterday Tokyo high)
  2. yesterday pit session is an inside one (as its range 3611-3667 is perfectly contained inside the previous pit session range)

So because of these "events" the possible outcome is the same as yesterday but we could have now some help from the new pit range levels, as any attempt above or below yesterday pit session range extremes has to be considered an attempted evasion from balance.

So main levels to consider are:

  1. 3667 yes pit range high
  2. 3664 GB 2020 year close
  3. 3640 2021 YEAR OPEN
  4. 3635 GB highest Jan close
  5. 3629 GB yes close
  6. 3611 yes pit range low


Above 3667 we will have an attempted rally from balance, below 3611 we will have an attempted break from balance: and balance rules will apply.

Ubi maior minor cessat
  • #8,176
  • Jan 14, 2021 2:08am Jan 14, 2021 2:08am
3667, here we are watch out...
Ubi maior minor cessat
  • #8,177
  • Jan 14, 2021 2:51am Jan 14, 2021 2:51am
An other very very tricky GB session: note B period high at HB level.
Ubi maior minor cessat
  • #8,178
  • Jan 14, 2021 3:00am Jan 14, 2021 3:00am
Quoting Lock
An other very very tricky GB session: note B period high at HB level.
And now B inside period: balance rules apply
Ubi maior minor cessat
  • #8,179
  • Jan 14, 2021 3:14am Jan 14, 2021 3:14am
Quoting Lock
{quote} And now B inside period: balance rules apply
i see a liquidation toward 3450 before any move up. i dont see a continuation above 3705 with the structure below
Twitter: Rummer_grapes
  • #8,180
  • Jan 14, 2021 3:29am Jan 14, 2021 3:29am
Well, back to year open 3640... nothing happened this year till now... at all
Ubi maior minor cessat
1 trader viewing now