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Lock's Cable Corner

  • #8,181
  • Jan 14, 2021 3:31am Jan 14, 2021 3:31am
Quoting Bacco
{quote} i see a liquidation toward 3450 before any move up. i dont see a continuation above 3705 with the structure below
Structure downside is ugly. Plenty of weaknesses to correct (and punish). But as always take this market a piece at time (unless you are bigger timeframe trader)
Ubi maior minor cessat
  • #8,182
  • Jan 14, 2021 4:07am Jan 14, 2021 4:07am
Only weak daily traders involved for now: note GB range between yesterday GB open 36805 and yesterday GB close 3629. Plus current period high, again at HB (second time today)

Also the last 2 periods' highs D and E are both at today open level 3656
Ubi maior minor cessat
  • #8,183
  • Jan 14, 2021 5:17am Jan 14, 2021 5:17am
Well, I'm off. See you later or tomorrow. In the last couple of months we saw a very indecisive and weak market overall. It's tradable but definitely not an easy one. About today we are simply balancing (like yesterday) after the previous day rally (involving all sessions)
Ubi maior minor cessat
  • #8,184
  • Jan 15, 2021 1:34am Jan 15, 2021 1:34am
Quoting Lock
Now, the interesting things occurred yesterday are: 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) 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...
Quoting Lock
So main levels to consider are: 3667 yes pit range high 3664 GB 2020 year close 3640 2021 YEAR OPEN 3635 GB highest Jan close 3629 GB yes close 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.
Eventually pit session rallied above 3667 and managed to correct weak year high 3703-05. Now we have a good year high: this does not mean it will remain as it is now.
Ubi maior minor cessat
  • #8,185
  • Jan 15, 2021 1:39am Jan 15, 2021 1:39am
Main levels for upcoming GB are all very important ones:

  1. 3689 GB yesterday close and current highest 2021 close
  2. 3687 GB 2021 year open
  3. 3686 GB 2020 absolute high
  4. 3664 GB 2020 year close
  5. 3640 absolute open level for 2021


Acceptation above them could lead to continuation upside (new test of current pit high)
Rejection above them can lead to a substantial liquidation toward 3442 and more

Ubi maior minor cessat
  • #8,186
  • Jan 18, 2021 1:31am Jan 18, 2021 1:31am
35825 is the first GB Jan week close, while 35975 is the second last GB week close: we are going to open with a new possible GB gap downside from GB Friday low. And we have the 2 triple GB gaps left downside very close to current price action. Furthermore we got a good year high and a poor Jan pit low34505
If you will see price accepted below the last 2 weeks close: the continuation of current liquidation is very possible.
Ubi maior minor cessat
  • #8,187
  • Jan 18, 2021 1:33am Jan 18, 2021 1:33am
Quoting Lock
35825 is the first GB Jan week close, while 35975 is the second last GB week close: we are going to open with a new possible GB gap downside from GB Friday low. And we have the 2 triple GB gaps left downside very close to current price action. Furthermore we got a good year high and a poor Jan pit low34505 If you will see price accepted below the last 2 weeks close: the continuation of current liquidation is very possible.

Note that I'm speaking of "liquidation" as the structure left upside is very poor and even if we got a good year high I do not like the way it went downside. So after the liquidation a new test upside is again very possible.
Ubi maior minor cessat
  • #8,188
  • Jan 18, 2021 1:38am Jan 18, 2021 1:38am
Quoting Lock
35825 is the first GB Jan week close, while 35975 is the second last GB week close: we are going to open with a new possible GB gap downside from GB Friday low. And we have the 2 triple GB gaps left downside very close to current price action. Furthermore we got a good year high and a poor Jan pit low34505 If you will see price accepted below the last 2 weeks close: the continuation of current liquidation is very possible.
At the opposite, if you'll see price accepted above last 2 GB weeks close: expect a correction upside immediately or at least balance.
Ubi maior minor cessat
  • #8,189
  • Jan 19, 2021 1:45am Jan 19, 2021 1:45am
Levels are exactly the same of yesterday as we are around last week GB close 35975. Monitor for acceptation or rejection below or above it.
And note that currently we are inside a GB gap zone (between Friday GB low and yesterday GB high)
Ubi maior minor cessat
  • #8,190
  • Jan 19, 2021 1:53am Jan 19, 2021 1:53am
Current 3608 (multiple test by Tokyo) is an important level for GB. Take note also of 36175: it has been a crucial level in the last weeks. And it is slightly above the GB double gap zone...
Ubi maior minor cessat
  • #8,191
  • Jan 19, 2021 2:00am Jan 19, 2021 2:00am
Quoting Lock
Current 3608 (multiple test by Tokyo) is an important level for GB. Take note also of 36175: it has been a crucial level in the last weeks. And it is slightly above the GB double gap zone...
And if it will not stop this action upside (36175) it can spike from there in order to correct the last liquidation up to 37 zone
Ubi maior minor cessat
  • #8,192
  • Jan 19, 2021 2:06am Jan 19, 2021 2:06am
3613 GB Friday low and also double pass gap base (just below our 36175) If not reached or rjected above expect liquidation. If accepted above expect continuation toward 37
Ubi maior minor cessat
  • #8,193
  • Jan 19, 2021 2:14am Jan 19, 2021 2:14am
35975 is last week GB close and 35825 is GB first week of January close and also yesterday GB close: so for any serious continuation downside you want to see price accepted below both of them. If not..
Ubi maior minor cessat
  • #8,194
  • Jan 19, 2021 4:05am Jan 19, 2021 4:05am
Quoting Lock
{quote} And if it will not stop this action upside (36175) it can spike from there in order to correct the last liquidation up to 37 zone
here we are at 36175...our main decisive level for GB
Ubi maior minor cessat
  • #8,195
  • Jan 19, 2021 4:07am Jan 19, 2021 4:07am
And 3637 is Friday GB spike downside base.
Ubi maior minor cessat
  • #8,196
  • Jan 19, 2021 5:00am Jan 19, 2021 5:00am
Quoting Lock
{quote} here we are at 36175...our main decisive level for GB
looks like rejection...
  • #8,197
  • Jan 20, 2021 1:34am Jan 20, 2021 1:34am
Very weak progression upside from yesterday pit session. New GB gap upside at open (possible)
Main levels are all close to current price location:

  1. 3687 GB YEAR open
  2. 3686 2020 ABSOLUTE HIGH
  3. 3664 GB (and PIT) YEAR 2020 close
  4. 3640 YEAR 2021 ABSOLUTE OPEN
  5. 3637 Friday GB spike base
  6. 3626 yesterday GB close

Monitor for acceptation or rejection above each of them and for the preservation of the new GB gap (if it will occur)

Ubi maior minor cessat
  • #8,198
  • Edited 4:23am Jan 20, 2021 2:38am | Edited 4:23am
Quoting Lock
Very weak progression upside from yesterday pit session. New GB gap upside at open (possible) Main levels are all close to current price location: 3687 GB YEAR open 3686 2020 ABSOLUTE HIGH 3664 GB (and PIT) YEAR 2020 close 3640 YEAR 2021 ABSOLUTE OPEN 3637 Friday GB spike base 3626 yesterday GB close Monitor for acceptation or rejection above each of them and for the preservation of the new GB gap (if it will occur)
why is the figures of GB 2020 Absolute high, Lesser than the figures of GB Year open, instead of higher
  • #8,199
  • Jan 20, 2021 4:23am Jan 20, 2021 4:23am
Current GB high is a perfect tag of previous 2021 GB year high 3701: so it is a weak level now. This does not mean it cannot liquidate considering the ugly structure left downside from yesterday.
Ubi maior minor cessat
  • #8,200
  • Jan 20, 2021 4:24am Jan 20, 2021 4:24am
Quoting mrmeth
{quote} why is the figures of GB 2020 Absolute high, Lesser than the figures of GB Year open, instead of higher

I consider different year opens and highs depending upon sessions: GB, Pit and so on. Obviously there are absolute highs and opens and so on...
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