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Lock's Cable Corner

  • #8,321
  • Feb 11, 2021 8:51am Feb 11, 2021 8:51am
Quoting Lock
If it will not retest 38205 , watch out for correction upside. Only with acceptation below it we can see some serious liquidation. In fact from 38205 to yesterday Pit low we had a double gap that is not filled for a single pip.
And here we are: if failure below 38205 all the way back upside. If not, liquidation can continue
Ubi maior minor cessat
  • #8,322
  • Feb 11, 2021 9:28am Feb 11, 2021 9:28am
Quoting Lock
{quote} And here we are: if failure below 38205 all the way back upside. If not, liquidation can continue
As you see. Now watch out again: if no acceptation above yesterday pit unch 38345 we can retrace again. We need acceptation above it to continue higher.
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  • #8,323
  • Feb 11, 2021 9:59am Feb 11, 2021 9:59am
Quoting Lock
{quote} As you see. Now watch out again: if no acceptation above yesterday pit unch 38345 we can retrace again. We need acceptation above it to continue higher.
As you may appreciate again..
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  • #8,324
  • Feb 11, 2021 10:03am Feb 11, 2021 10:03am
Quoting Lock
{quote} And here we are: if failure below 38205 all the way back upside. If not, liquidation can continue
and here agai, if failure below 38205 new test upside as we are in a rotational enviroment. If acceptation below it continuation downside
Ubi maior minor cessat
  • #8,325
  • Feb 11, 2021 10:09am Feb 11, 2021 10:09am
And if continuation downside always remember that monthly trend is upside, so moderate your expectations...
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  • #8,326
  • Feb 12, 2021 1:26am Feb 12, 2021 1:26am
So Pit continued down for a little then retraced upside. Tokyo continued lower but went into balance. Some sort of correction of previous days rally. Overall a very weak and poor market.

Main levels for GB are:

  1. 3849 highest 2021 GB close
  2. 38195 yesterday GB close
  3. 3813 yesterday GB low (also gap base high)
  4. 3789 GB 02.09 (and also gap base low)


In case of continuation of this tiny liquidation we can see 3761 previous GB poor low removed. If it will balance probably the zone 3789-3813 will be of interest. If the liquidation will stop we can see a new high or at least the re test of 38325 yesterday Pit poor high.
Use major levels to evaluate the situation. And do not expect too much from such a market.

Ubi maior minor cessat
  • #8,327
  • Feb 12, 2021 1:37am Feb 12, 2021 1:37am
And note that (on a bigger perspective) last week GB close is at 37135: a very serious liquidation should move price below it and gaining acceptation there. Other results will change nothing of current monthly trend upside..
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  • #8,328
  • Feb 12, 2021 2:11am Feb 12, 2021 2:11am
Quoting Lock
... If it will balance probably the zone 3789-3813 will be of interest. If the liquidation will stop we can see a new high or at least the re test of 38325 yesterday Pit poor high. Use major levels to evaluate the situation. And do not expect too much from such a market.
Note GB testing at the pip 3789 and retraced upside toward 3813. For now it's only overnight correction. It can morph into balance.
Ubi maior minor cessat
  • #8,329
  • Feb 12, 2021 2:30am Feb 12, 2021 2:30am
Quoting Lock
{quote} Note GB testing at the pip 3789 and retraced upside toward 3813. For now it's only overnight correction. It can morph into balance.
What next target sir
  • #8,330
  • Feb 12, 2021 2:39am Feb 12, 2021 2:39am
3786 Tokyo poor low is a possibility. If this is a continuation of the daily liquidation. But I see a lot of weakness for now. We left upside a double GB gap from yesterday GB low to current GB high. Current B high is at HB. I repeat it, I see nothing for now. Let's see after B period close.
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  • #8,331
  • Feb 12, 2021 2:44am Feb 12, 2021 2:44am
Quoting Lock
3786 Tokyo poor low is a possibility. If this is a continuation of the daily liquidation. But I see a lot of weakness for now. We left upside a double GB gap from yesterday GB low to current GB high. Current B high is at HB. I repeat it, I see nothing for now. Let's see after B period close.

3786 Tokyo poor low, can be crucial: if reached and removed we should monitor for rejection or acceptation below it. If acceptation we can aim at 3761 previous GB poor low. If rejection below it we can see a correction upside.
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  • #8,332
  • Feb 12, 2021 3:02am Feb 12, 2021 3:02am
Quoting Lock
{quote} 3786 Tokyo poor low, can be crucial: if reached and removed we should monitor for rejection or acceptation below it. If acceptation we can aim at 3761 previous GB poor low. If rejection below it we can see a correction upside.
So Tokyo 3786 has been removed and B period closed below it. To have acceptation we need an other period closed below it. If so 3761 is possible. If already in a position stops can be placed above 3786 somewhere. Always consider current action for what it is for now: a liquidation against major monthly trend during Friday.
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  • #8,333
  • Feb 12, 2021 3:04am Feb 12, 2021 3:04am
Quoting Lock
{quote} So Tokyo 3786 has been removed and B period closed below it. To have acceptation we need an other period closed below it. If so 3761 is possible. If already in a position stops can be placed above 3786 somewhere. Always consider current action for what it is for now: a liquidation against major monthly trend during Friday.
And in case of failure below 3786... all the way back upside toward 38 or double gap (Yes GB low).
Ubi maior minor cessat
  • #8,334
  • Feb 12, 2021 4:35am Feb 12, 2021 4:35am
Quoting Lock
{quote} And in case of failure below 3786... all the way back upside toward 38 or double gap (Yes GB low).
Failure below 3786 and here we are at 3800
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  • #8,335
  • Feb 12, 2021 4:37am Feb 12, 2021 4:37am
Now let's see if it will be try 3813 yesterday GB low (filling the double gap) or if will retrace again into balance
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  • #8,336
  • Feb 12, 2021 5:02am Feb 12, 2021 5:02am
Quoting Lock
Now let's see if it will be try 3813 yesterday GB low (filling the double gap) or if will retrace again into balance
it went back to balance.

Now, current low is a perfect tag of a previous Pit low at 3775, so it is a weak one but we are in a monthly trend upside and on Friday. We are into balance. See you later to see if the last couple of periods can evade it up or down.
Ubi maior minor cessat
  • #8,337
  • Feb 12, 2021 6:34am Feb 12, 2021 6:34am
Quoting Lock
{quote} it went back to balance. Now, current low is a perfect tag of a previous Pit low at 3775, so it is a weak one but we are in a monthly trend upside and on Friday. We are into balance. See you later to see if the last couple of periods can evade it up or down.
Now in these last 2 periods GB is attempting some sort of break from balance, Anyhow yesterday Pit poor low is exactly here at 3800, so considering that preUS will give a lot of importance to such level, I suggest to be prudent.
The other important level for preUS (and Pit) will be 3816 yesterday pit unch.
Ubi maior minor cessat
  • #8,338
  • Feb 12, 2021 6:38am Feb 12, 2021 6:38am
Quoting Lock
{quote} Now in these last 2 periods GB is attempting some sort of break from balance, Anyhow yesterday Pit poor low is exactly here at 3800, so considering that preUS will give a lot of importance to such level, I suggest to be prudent. The other important level for preUS (and Pit) will be 3816 yesterday pit unch.

in the case PreUS and Pit will continue higher we have 38175 Sydney poor high and 38325 yesterday Pit poor high to take out. But again, be prudent.
Ubi maior minor cessat
  • #8,339
  • Feb 12, 2021 7:44am Feb 12, 2021 7:44am
Quoting Lock
{quote} Now in these last 2 periods GB is attempting some sort of break from balance, Anyhow yesterday Pit poor low is exactly here at 3800, so considering that preUS will give a lot of importance to such level, I suggest to be prudent. The other important level for preUS (and Pit) will be 3816 yesterday pit unch.
Quoting Lock
{quote} in the case PreUS and Pit will continue higher we have 38175 Sydney poor high and 38325 yesterday Pit poor high to take out. But again, be prudent.
As you see the invitation to be prudent could be useful... Let's see at Pit open. And in any case the level to consider is 3800 as it is yesterday pit low (poor) Monitor for the possible formation of a new gap downside. If so and if preserved at open, this minor liquidation can continue lower. If non gap or retraced quickly expect some sort of balance or correction upside. As written previously the other main ref for US sessions is yesterday pit close at 3816. If you see a complete disregard of it by PreUS and Pit, again, continuation downside has more odds in favor.
Ubi maior minor cessat
  • #8,340
  • Feb 12, 2021 8:54am Feb 12, 2021 8:54am
Quoting Lock
{quote} {quote} As you see the invitation to be prudent could be useful... Let's see at Pit open. And in any case the level to consider is 3800 as it is yesterday pit low (poor) Monitor for the possible formation of a new gap downside. If so and if preserved at open, this minor liquidation can continue lower. If non gap or retraced quickly expect some sort of balance or correction upside. As written previously the other main ref for US sessions is yesterday pit close at 3816....
So Pit opened slightly above 3800, tested it, found nothing below and rallied upside toward yesterday pit poor high 38325. now we are above yesterday pit unch 3816: for any meaningful continuation upside we need acceptation above it. If not, expect again a rotational environment.
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