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Lock's Cable Corner

  • #8,361
  • Feb 16, 2021 11:08am Feb 16, 2021 11:08am
Quoting Lock
Anyhow, very elongated C period and we are back to balance poc 3925 as I wrote in a previous post so. See you later. Or tomorrow if it will remain in balance or if it will correct C period.
Thanks for your great information sir
  • #8,362
  • Edited 1:02am Feb 17, 2021 12:50am | Edited 1:02am
Quoting Lock
Anyhow, very elongated C period and we are back to balance poc 3925 as I wrote in a previous post so. See you later. Or tomorrow if it will remain in balance or if it will correct C period.
So it spent the rest of the session in balance correcting too elongated C period as expected. (or at least as possible considering that situation)

Then Sydney and Tokyo (again without China) liquidated leaving upside 2 poor highs at 3907 (SYD) and 38985 (TOK).
GB closed at 39085 slightly above them and almost exactly at GB session low. So monitor for GB open in relation to yesterday GB low/close 39085.
For something upside during GB session we need acceptation above it. And for something serious upside we need also acceptation above highest GB close 2021 at 3919.
Note that current GB 2021 high at 39415 is still weak and poor as yesterday Pit correction do not remove it. Also monthly trend is up as it is weekly trend.
If you'll see a clear disregard of such levels, we can see continuation of this weak liquidation toward 38535 last week GB close, and if acceptation below it we can see something toward 3820-30 price zone. So 38535 is our current psychological lower level while 3919 is our upper one.

I forgot to mention that from 38105 to 3890 we have a GB gap zone. And inside it at its lower portion we have a triple GB gap zone 38105-38135. Furthermore we are below yesterday GB low 39085 and current Tokyo session for now is building a new GB gap downside. So as it happened yesterday for Pit session, consider all this prize area (38105-39085) of significant possible interest for GB participants.
Ubi maior minor cessat
  • #8,363
  • Feb 17, 2021 2:14am Feb 17, 2021 2:14am
3890, let's see reaction at the first significant level
Ubi maior minor cessat
  • #8,364
  • Feb 17, 2021 2:26am Feb 17, 2021 2:26am
Quoting Lock
3890, let's see reaction at the first significant level
3890 tagged at the pip: double gap zone removed: now we are inside two separate gap zone, one above up to 39085 and an other one down to 38105
Ubi maior minor cessat
  • #8,365
  • Feb 17, 2021 2:47am Feb 17, 2021 2:47am
39085 yes GB close and also yes GB low: if tagged no more gap from yesterday GB low. But for continuation upside we need acceptation above it. If so 39415 is possible. If not back to balance.
Ubi maior minor cessat
  • #8,366
  • Feb 17, 2021 3:30am Feb 17, 2021 3:30am
Quoting Lock
39085 yes GB close and also yes GB low: if tagged no more gap from yesterday GB low. But for continuation upside we need acceptation above it. If so 39415 is possible. If not back to balance.
C inside period: back to balance. Games open. Balance rules apply.
Ubi maior minor cessat
  • #8,367
  • Feb 17, 2021 3:44am Feb 17, 2021 3:44am
USDX driven
Ubi maior minor cessat
  • #8,368
  • Feb 17, 2021 3:51am Feb 17, 2021 3:51am
And it looks like it want to take out Sydney week open at 3831
In any case from a GB point of view it is a very weak liquidation as we have2 back to back GB poor high, today and yesterday
Ubi maior minor cessat
  • #8,369
  • Feb 17, 2021 6:40am Feb 17, 2021 6:40am
Quoting Lock
And it looks like it want to take out Sydney week open at 3831 In any case from a GB point of view it is a very weak liquidation as we have2 back to back GB poor high, today and yesterday
Its up again
  • #8,370
  • Feb 17, 2021 8:21am Feb 17, 2021 8:21am
Quoting Lock
And it looks like it want to take out Sydney week open at 3831 In any case from a GB point of view it is a very weak liquidation as we have2 back to back GB poor high, today and yesterday
Actually it continued lower toward possible 3831 Sydney week open. Anyhow take into serious consideration last week pit unch at 38525 as any serious US action downside need acceptation below such level. If not, considering the monthly trend, imagine correction upside.

Also price zone 38625-3869 is a pit GAP containing a double pit gap: if pit will open below this zone it will become a triple pit gap. Take note.
Ubi maior minor cessat
  • #8,371
  • Feb 17, 2021 10:45am Feb 17, 2021 10:45am
Quoting Lock
And it looks like it want to take out Sydney week open at 3831 In any case from a GB point of view it is a very weak liquidation as we have2 back to back GB poor high, today and yesterday
And it did it, removing 3831 frantic Sydney week open. Now I suggest to monitor level 38525 as it is last week pit unch. Acceptation above it can lead to full correction upside toward back to back GB highs at 29035 and 39415. Failure above it can let it in balance or continuation downside as written previously.
Ubi maior minor cessat
  • #8,372
  • Feb 17, 2021 11:07am Feb 17, 2021 11:07am
Quoting Lock
{quote} And it did it, removing 3831 frantic Sydney week open. Now I suggest to monitor level 38525 as it is last week pit unch. Acceptation above it can lead to full correction upside toward back to back GB highs at 29035 and 39415. Failure above it can let it in balance or continuation downside as written previously.
so here at 38525 we are let's see the reaction
Ubi maior minor cessat
  • #8,373
  • Feb 17, 2021 11:09am Feb 17, 2021 11:09am
and please subscribe me if you like my notes
Ubi maior minor cessat
  • #8,374
  • Feb 17, 2021 1:02pm Feb 17, 2021 1:02pm
Nice thread

What's your feeling on where we're at the current time. I'm long from 13832 and I'm just considering whether to cash in or let it run. It looks like from what you're saying we could continue up.
  • #8,375
  • Feb 17, 2021 1:18pm Feb 17, 2021 1:18pm
Quoting mysterio
Nice thread What's your feeling on where we're at the current time. I'm long from 13832 and I'm just considering whether to cash in or let it run. It looks like from what you're saying we could continue up.
Thank you for your appreciation and btw, please subscribe me if you like my notes. About current situation, first of all I generally do not trade during pit as I'm too tired at this hour of the day. So I speak only as an observer.

As I mentioned before 38525 is last week pit unch (last week absolute close level) and it is a psychological level for most traders (not investor obviously). If we find acceptation above it, continuation upside is possible as monthly and weekly trend are both up. Also overnight has been down all day long and furthermore with China absent in bank holiday. So the possibility to squeeze those weak sellers is very possible.

At the same time I consider current major trend upside very weak especially in the last weeks. So a liquidation (a significant one) is always possible.
In a minor scale if we will not find acceptation above 38525 I will give more odds to a balance until pit unch or even some more liquidation.
Ubi maior minor cessat
  • #8,376
  • Feb 17, 2021 1:22pm Feb 17, 2021 1:22pm
PS: we got acceptation above 38525 but we have 2 periods lows at previous half back 3842: so be aware of that if something will go wrong upside....
Ubi maior minor cessat
  • #8,377
  • Feb 17, 2021 8:20pm Feb 17, 2021 8:20pm
Quoting Lock
PS: we got acceptation above 38525 but we have 2 periods lows at previous half back 3842: so be aware of that if something will go wrong upside....
I think we touch 1.38 now sir
  • #8,378
  • Feb 22, 2021 3:44am Feb 22, 2021 3:44am
@lock all good??
  • #8,379
  • Mar 23, 2021 1:42am Mar 23, 2021 1:42am
@Lock
Missing your analysis. Is everything ok ?
  • #8,380
  • Mar 23, 2021 9:58am Mar 23, 2021 9:58am
Hello Gbp gang Howz it all going? Lock sir we need your analysis hope everything is alright can’t wait to have you back
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