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Lock's Cable Corner

  • #8,281
  • Feb 5, 2021 4:20am Feb 5, 2021 4:20am
Quoting Lock
{quote} 3667 yesterday during pit session was too weak: it took it out as expected and closed higher. The problem is that it left a poor low at 3651 that you now have to put together with yesterday GB poor low at 3566 summed with the ugly news related structure of all GB session. At the same time we still do not have a good yearly high at 3758. So build your decision basing it on the major levels we have in this zone that are the same as yesterday plus yesterday GB close at 3664 (also GB and Pit year close) ...note also that we have a new GB gap...
what confuses me now, is the acceptance above 3687... and no further move towards the highs.
  • #8,282
  • Feb 5, 2021 4:24am Feb 5, 2021 4:24am
note that 37015 is February absolute open (Sydney): monitor for acceptation or rejection above it...
Ubi maior minor cessat
  • #8,283
  • Feb 5, 2021 4:28am Feb 5, 2021 4:28am
Quoting Lock
note that 37015 is February absolute open (Sydney): monitor for acceptation or rejection above it...
while 3687 is GB yearly open... and 3686 GB 2020 absolute high...
Ubi maior minor cessat
  • #8,284
  • Feb 5, 2021 5:01am Feb 5, 2021 5:01am
36735 GB Jan open...
Ubi maior minor cessat
  • #8,285
  • Feb 5, 2021 5:02am Feb 5, 2021 5:02am
for serious continuation downside we need acceptation below all of them: 3687, 3686 and 36735.. if not watch out for correction upside.
Ubi maior minor cessat
  • #8,286
  • Feb 5, 2021 6:25am Feb 5, 2021 6:25am
Quoting Lock
for serious continuation downside we need acceptation below all of them: 3687, 3686 and 36735.. if not watch out for correction upside.
We saw GB failing below 36735 and then we got some small correction upside (that can be bigger) but overall this GB session is particularly weak: so expect shake out at news.
Ubi maior minor cessat
  • #8,287
  • Feb 5, 2021 6:30am Feb 5, 2021 6:30am
Quoting Lock
{quote} We saw GB failing below 36735 and then we got some small correction upside (that can be bigger) but overall this GB session is particularly weak: so expect shake out at news.
...or even before...
Ubi maior minor cessat
  • #8,288
  • Feb 5, 2021 6:33am Feb 5, 2021 6:33am
Quoting Lock
{quote} ...or even before...
if we get acceptance above 37015... can we aim at 3758? or is there another important level between the 2?
  • #8,289
  • Feb 5, 2021 8:20am Feb 5, 2021 8:20am
Quoting titi14
{quote} if we get acceptance above 37015... can we aim at 3758? or is there another important level between the 2?
It's possible but, evaluate carefully the situation: we do have 2 back to back poor lows in a row in the last two major sessions, yesterday pit and yesterday GB, plus current structure downside is very ugly. To continue higher you want a clear acceptation above all major levels including 37015 by upcoming pit session. If not, we will have liquidation. If acceptation, a test of current yearly high is possible, but forced.
Ubi maior minor cessat
  • #8,290
  • Feb 5, 2021 8:23am Feb 5, 2021 8:23am
Quoting Lock
{quote} It's possible but, evaluate carefully the situation: we do have 2 back to back poor lows in a row in the last two major sessions, yesterday pit and yesterday GB, plus current structure downside is very ugly. To continue higher you want a clear acceptation above all major levels including 37015 by upcoming pit session. If not, we will have liquidation. If acceptation, a test of current yearly high is possible, but forced.
I mean, if we will go upside now, we will probably have some correction in the near future. For today monitor for the formation of a possible new pit gap upside from yesterday pit high 3680. If so and if preserved, we can have the continuation.
Ubi maior minor cessat
  • #8,291
  • Feb 8, 2021 5:41am Feb 8, 2021 5:41am
Now 3740 zone plus current yearly high 3758 got to be summed as weak levels. At the same time I do not think current GB low can last for so long as it is a vary ugly poor low. So during current session if poc will move downside odds are in favor for a continuation downside. But on a bigger scale before or after we should see the test of higher levels.
Ubi maior minor cessat
  • #8,292
  • Feb 8, 2021 5:48am Feb 8, 2021 5:48am
Quoting Lock
{quote} I mean, if we will go upside now, we will probably have some correction in the near future. For today monitor for the formation of a possible new pit gap upside from yesterday pit high 3680. If so and if preserved, we can have the continuation.
..and btw as you see Friday forcing action upside has been almost entirely corrected as expected...
Ubi maior minor cessat
  • #8,293
  • Feb 8, 2021 5:53am Feb 8, 2021 5:53am
Quoting Lock
Now 3740 zone plus current yearly high 3758 got to be summed as weak levels. At the same time I do not think current GB low can last for so long as it is a vary ugly poor low. So during current session if poc will move downside odds are in favor for a continuation downside. But on a bigger scale before or after we should see the test of higher levels.
Back at poor low zone (3686-7) as expected: but watch out if you'll see a failure below it.
Ubi maior minor cessat
  • #8,294
  • Feb 8, 2021 6:00am Feb 8, 2021 6:00am
Quoting Lock
{quote} Back at poor low zone (3686-7) as expected: but watch out if you'll see a failure below it.
poor low taken out...
Ubi maior minor cessat
  • #8,295
  • Feb 8, 2021 8:10am Feb 8, 2021 8:10am
Quoting Lock
{quote} Back at poor low zone (3686-7) as expected: but watch out if you'll see a failure below it.
as you see.... anyhow, overall it is a very weak market
Ubi maior minor cessat
  • #8,296
  • Feb 8, 2021 8:12am Feb 8, 2021 8:12am
Also preUS is trading inside a pit gap range: very weak and risky
The gap is from Thursday pit high to Friday pit low
Ubi maior minor cessat
  • #8,297
  • Feb 8, 2021 8:13am Feb 8, 2021 8:13am
Quoting Lock
Also preUS is trading inside a pit gap range: very weak and risky The gap is from Thursday pit high to Friday pit low
3680-37095
Ubi maior minor cessat
  • #8,298
  • Feb 8, 2021 8:15am Feb 8, 2021 8:15am
Major pit levels around here are: 36985 January unch and 3679 Pit 2020 high
Note that the low of the gap coincides (almost) with Pit 2020 high
Ubi maior minor cessat
  • #8,299
  • Feb 8, 2021 8:16am Feb 8, 2021 8:16am
SO, if we get acceptation above them at pit open we can aim at highest pit unch of current year at 37365. If no acceptation above them we can see a correction again toward 3651 pit Thursday poor low.
Ubi maior minor cessat
  • #8,300
  • Feb 8, 2021 8:21am Feb 8, 2021 8:21am
Quoting Lock
{quote} 3680-37095
here we are at the gap top: we want acceptation above it after pit open for continuation upside. If not .. ..
Ubi maior minor cessat
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