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Lock's Cable Corner

  • #8,221
  • Jan 26, 2021 1:40am Jan 26, 2021 1:40am
well... 36175 is 2018 May bracket high. It has been an important level in the last weeks. Any serious GB action downside will need acceptation below it.
Ubi maior minor cessat
  • #8,222
  • Jan 26, 2021 1:48am Jan 26, 2021 1:48am
Quoting Lock
There is a price bracket made by the last 4 GB sessions: it ranges from Friday low 3651 to current GB absolute high 37455. Currently Tokyo is testing below it, so it is attempting a break from balance. If it will succeed and if GB will approve such an attempt you will see a substantial liquidation, probably down at least to 35895 previous GB poor low. If instead you will see prece rejected below 3651 and eventually accepted above it by GB, you will probably see the total reversal of the entire bracket up to current GB yearly high 37455. Major levels...
in relation to the bracket situation I was speaking about:
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-01-25_23-44-37_attempted break.png Size: 35 KB
Ubi maior minor cessat
  • #8,223
  • Jan 26, 2021 3:07am Jan 26, 2021 3:07am
price is retesting breakeven (3651 zone)
If rejection above it (or even not reached), we can expect continuation downside (to retest 36175.
If acceptation above, we can expect full retracement of the 4 sessions bracket to current year high 37455
Ubi maior minor cessat
  • #8,224
  • Jan 26, 2021 3:12am Jan 26, 2021 3:12am
Quoting Lock
price is retesting breakeven (3651 zone) If rejection above it (or even not reached), we can expect continuation downside (to retest 36175. If acceptation above, we can expect full retracement of the 4 sessions bracket to current year high 37455
here it is: retesting breakeven
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-01-26_1-10-53_retesting breakeven.png Size: 23 KB
Ubi maior minor cessat
  • #8,225
  • Jan 26, 2021 4:01am Jan 26, 2021 4:01am
Quoting Lock
{quote} here it is: retesting breakeven {image}
two periods above 3651... can we say its accepted now Lock and heading for upper bracket?
  • #8,226
  • Jan 26, 2021 4:34am Jan 26, 2021 4:34am
Quoting titi14
{quote} two periods above 3651... can we say its accepted now Lock and heading for upper bracket?
Technically it is and we also have Syd, Tokyo and current GB back to back poor highs. In any case I'm off. I'm too tired today.
Have a nice continuation.
Ubi maior minor cessat
  • #8,227
  • Jan 26, 2021 11:38am Jan 26, 2021 11:38am
Quoting Lock
price is retesting breakeven (3651 zone) If rejection above it (or even not reached), we can expect continuation downside (to retest 36175. If acceptation above, we can expect full retracement of the 4 sessions bracket to current year high 37455
Acceptation above 3651 and as you see price retraced up to 3745 zone...
Ubi maior minor cessat
  • #8,228
  • Jan 26, 2021 11:52am Jan 26, 2021 11:52am
Quoting Lock
{quote} Acceptation above 3651 and as you see price retraced up to 3745 zone...
That was a nice call. I though it was going down to correct the 3540 but it didnt....
Twitter: Rummer_grapes
  • #8,229
  • Jan 27, 2021 12:09am Jan 27, 2021 12:09am
Main refs for today GB session are:

  1. 37455 current GB high for 2021
  2. 3727 yesterday GB close and also highest GB close of the year
  3. 37015 yesterday GB high


Monitor for acceptation above 374555 and 3727. Also monitor for the possible formation of a new GB gap upside from yesterday GB high 37015. If these condition will be presented to you from the market we have good possibilities to continue higher or at least remain in balance around current price location.
If instead you will see no acceptation above 37455 and 3727, expect some sort of liquidation: in such a case, note how ugly is yesterday daily profile.

Ubi maior minor cessat
  • #8,230
  • Jan 27, 2021 11:42pm Jan 27, 2021 11:42pm
Quoting Lock
Main refs for today GB session are: 37455 current GB high for 2021 3727 yesterday GB close and also highest GB close of the year 37015 yesterday GB high Monitor for acceptation above 374555 and 3727. Also monitor for the possible formation of a new GB gap upside from yesterday GB high 37015.
Quoting Lock
If these condition will be presented to you from the market we have good possibilities to continue higher or at least remain in balance around current price location. If instead you will see no acceptation above 37455 and 3727, expect some sort of liquidation: in such a case, note how ugly is yesterday daily profile.
GB was not able to find acceptation above 37455 one of its main levels and eventually liquidated: doing so it corrected most of the previous day weak and ugly profile as expected.
Ubi maior minor cessat
  • #8,231
  • Jan 28, 2021 12:12am Jan 28, 2021 12:12am
Quoting Lock
{quote} {quote} GB was not able to find acceptation above 37455 one of its main levels and eventually liquidated: doing so it corrected most of the previous day weak and ugly profile as expected.
can it still move up from here lock? or do you favor more down move?
  • #8,232
  • Jan 28, 2021 12:14am Jan 28, 2021 12:14am
Main levels for today GB session:

  1. 3758 GB current yearly high (weak as it is a tag of Tokyo high)
  2. 3721 yesterday GB spike down base
  3. 36925 yesterday GB low
  4. 3687 yesterday GB close (note: it coincides with 2021 GB open)
  5. 3686 GB 2020 absolute high
  6. 3664 GB GB 2020 close (also highest close of 2020)

They are all major levels. In particular: if you will see a new gap downside, considering also the spike test we saw yesterday, we can imagine continuation downside to correct at least 35895. Clearly in case of 3686-7 test you do not want to see acceptation above them.
At the opposite, if you will see a clear acceptation above 3686-7 levels and eventually acceleration above them, we can imagine the correction of current weak high at 3758.

Ubi maior minor cessat
  • #8,233
  • Jan 28, 2021 4:06am Jan 28, 2021 4:06am
forcing action downside:watch out. If something will go wrong expect fast correction.
Ubi maior minor cessat
  • #8,234
  • Jan 28, 2021 4:46am Jan 28, 2021 4:46am
Quoting Lock
forcing action downside:watch out. If something will go wrong expect fast correction.
...as you may appreciate
Ubi maior minor cessat
  • #8,235
  • Jan 28, 2021 4:55am Jan 28, 2021 4:55am
Now, in order to morph this correction into something more we need acceptation above major levels around here: 3664, 3686-7. If not watch out again.
Ubi maior minor cessat
  • #8,236
  • Jan 28, 2021 5:58am Jan 28, 2021 5:58am
Quoting Lock
Now, in order to morph this correction into something more we need acceptation above major levels around here: 3664, 3686-7. If not watch out again.
...as you may appreciate again...
Ubi maior minor cessat
  • #8,237
  • Jan 28, 2021 6:14am Jan 28, 2021 6:14am
Now, if full balance at preUS open, expect shakeout at news. If GB will not continue lower, see you tomorrow.
Ubi maior minor cessat
  • #8,238
  • Jan 29, 2021 1:02am Jan 29, 2021 1:02am
New possible GB gap upside from yesterday GB high 3676. If so the price zone 3676-36925 will be a double gap. We do not have a good pit yearly high at 3746. Current Tokyo high is poor at 37275. We left downside a mess of weak levels, especially: 34485 pit PL, 36395 preUS poor low (yesterday), 3623 Pit PL, 35895 GB PL, to name a few.

Main levels for today GB session:

  1. 3758 GB absolute high
  2. 3727 GB highest 2021 high (it almost coincides with yesterday GB close 3726)
  3. 3721 GB 01.27 spike base
  4. 36925 GB gap base (high)
  5. 3687 GB year open
  6. 3686 GB 2020 high
  7. 3676 GB gap base (low)
  8. 3664 GB highest 2020 close

Monitor for acceptation or rejection above each of these levels and act accordingly.

...this is the last day of January, so it is important to see where it will close in relation to other close levels: especially 3727 (highest 2021 GB close) and 3664 (GB 2020 close)

Ubi maior minor cessat
  • #8,239
  • Feb 1, 2021 12:52am Feb 1, 2021 12:52am
37225 main GB level for today: it's January GB close and we are slightly above it now. If acceptation above it we can establish a new year high or remain in balance. If acceptation below it we can correct some of the weaknesses left downside, like 3657 GB poor low and more.

An other important level is Friday GB spike base at 37015: in case of liquidation can work as support. And if not even reached can mean that the Friday GB test upside is not over yet.
Ubi maior minor cessat
  • #8,240
  • Feb 1, 2021 2:28am Feb 1, 2021 2:28am
Quoting Lock
37225 main GB level for today: it's January GB close and we are slightly above it now. If acceptation above it we can establish a new year high or remain in balance. If acceptation below it we can correct some of the weaknesses left downside, like 3657 GB poor low and more. An other important level is Friday GB spike base at 37015: in case of liquidation can work as support. And if not even reached can mean that the Friday GB test upside is not over yet.
open, test current year high 3758 and now testing 3727 and 37225
Ubi maior minor cessat
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