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Lock's Cable Corner

  • #41
  • Sep 14, 2016 5:54am Sep 14, 2016 5:54am
Quoting el_duende
Hi Lock Idea for your thread is attach the PDF guide on how to trade market profile in your 1st post. Would help alot of people understand what you talk about
Correct and this is a good advise. +1 vote from me
  • #42
  • Sep 14, 2016 5:57am Sep 14, 2016 5:57am
Now, coming back to market information:

we spent here in this balance something like 20 hours. GB session is a full balance and it only tested once the top of Tokyo in a weak way if I may say, leaving only a pip above it. The GB value is clearly lower from yesterday and cannot move from here. Also the GB gap down is intact.
The upcoming preUS session, if we remain here in the next and last 2 GB periods (I and J) will open right inside yesterday range, meaning at least initial acceptation of yesterday price range. This, if GB will make its unchanged around here, could lead to an initial balance of the preUS session.
If instead the last 2 periods of GB will do something downside (a spike test), this could lead to a further gap down for the upcoming preUS session. (Right below the daily bracket HB at 31637).
GB could also make a test (a final one) upside, using one or both of its last 2 periods to perform a spike upwards, removing in this way the weak reference at the top of the range. And putting the pre US session open right inside or above the mentioned double pass pit gap (32155-3239)
Ubi maior minor cessat
  • #43
  • Sep 14, 2016 6:16am Sep 14, 2016 6:16am
Quoting el_duende
Hi Lock Idea for your thread is attach the PDF guide on how to trade market profile in your 1st post. Would help alot of people understand what you talk about otherwise I suspect many will message you out of curiosity.
Thanks for your suggestion.
It could be a correct decision if this thread was dedicated to learn to trade organize market data using a market profile tool. But there are already 2 threads for this purpose. I will assume that those who are following this thread are already prepared on this matter or, in any case, that they are going to study it in the way they like it more.

Thanks anyway and kind regards, L

PS: anyway at the end of the story I think I'll add some information in the first post just to underline at least wich source I prefer. So thanks again for your suggestion.
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  • #44
  • Sep 14, 2016 6:43am Sep 14, 2016 6:43am
13:43 +1GMT

J period high is at hb

13:51
and we are now exactly at yesterday pit session unchange=main POC.

13:55
J testing the session low (starting from hb) and it didn't reach yet yesterday London close (we are 3 pips above it)

And then E J periods made a poor low

14:01
J period low tagged at the pip London close. PreUS opens inside yesterday pit session range/value.
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  • #45
  • Edited 8:25am Sep 14, 2016 7:16am | Edited 8:25am
14:16 preUS tested below GB low and went up right to yesterday pit unch.(main poc)
14:31 A B poor high right above POC
14:32 yes pit open TAG. One pip below round 3200.
14:39 B period back to hb, then up again (do you start to understand what I'm trying to show you with all these information?) Don't answer me yet.
14:41 hb tested down with 2 pips below it
14:53 preUS 18 pips of range, and half an hour spent up and down yesterday pit unchange (yesterday close price)
14:58 back to current preUS session open price
15:02 A C poor low
15:08 Poor low removed with 2 pips

OK it's enough: I was only trying to show you, in details, that the price activity you have seen in the last hour and a half has been totally ruled by weak hands. Because only weak participants know and use such references. And where are we now? Still right inside yesterday pit session range and some pips above the balance low at 3165.(Tokyo low) So we didn't test nor the top nor the bottom of the balance after the entire GB session plus the first 3 periods of the preUS session!
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  • #46
  • Sep 14, 2016 8:28am Sep 14, 2016 8:28am
Now, if the test will be positive downside, you know the targets below it. (Look at my previous posts) If it will fail there it's very normal to retrace back up to the opposite side of the balance.
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  • #47
  • Sep 14, 2016 8:45am Sep 14, 2016 8:45am
Quoting Lock
Now, if the test will be positive downside, you know the targets below it. (Look at my previous posts) If it will fail there it's very normal to retrace back up to the opposite side of the balance.
Lock, where should I place the Font folder?

D.P.
Hunting High and Low
  • #48
  • Sep 14, 2016 8:47am Sep 14, 2016 8:47am
Quoting Dr.Phoenix
{quote} Lock, where should I place the Font folder? D.P.
In the windows font folder. If I remember well. Best L.
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  • #49
  • Sep 14, 2016 8:57am Sep 14, 2016 8:57am
Quoting Lock
For the upcoming action (considering also the 2 big news), let me say that we could have (at least) 3 possible scenarios: Remaining in balance testing above and/or below the weak references 3227 (Brexit low/ current GB session high) and 31637-8 (main daily bracket half back/Tokyo low). ... Go down, and accelerate in order to take out the GB/Tokyo poor lows at the 3127 zone and eventually lead the price down to extraordinary weak 3058 zone. ...
I quote here the possible targets downside. Note that A period removed immediately what remained of the gap higher from 08.31 Pit Session. Now generally the bottom of a big gap like this is a good opportunity to buy for weak hands, so a bounce is possible from here. For continuation downside we do not want to come back and confirm inside the early morning balance (above 31637) and instead we want to take out the GB and Tokyo old poor lows.

Please note that 31187 is the bottom of the upper daily bracket: it's a GO/NO GO level. Meaning that for continuation downside we need to go and stay below it (because in this case we will have acceptation at least in the space between the two major daily brackets.)

16:01 +1GMT A B period poor low.

Please note that for now USDX is confirming its daily breakout upside. Let's see.
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  • #50
  • Sep 14, 2016 9:07am Sep 14, 2016 9:07am
Do you see the weak bounce from the bottom of the old gap higher?

Now please also note that we are right above GB September open at 31458. Obviously we want to stay below it for continuation downside.

Also watch out! If the bottom of an old gap retraced is a good opportunity for the weakest ot the timeframes, going below a magior daily bracket half back and retrace upwards from there is classical move for bigger timeframes! So this position is extremely risky (and/or profitable).
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  • #51
  • Sep 14, 2016 9:27am Sep 14, 2016 9:27am
WHAT A MARKET HERE! A B periods poor high and poor low! First attempted breakout downside failed for now. Now unless a strong reaction from above (for a second stronger test downside) the targets are normally at the opposite side of the balance.
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  • #52
  • Sep 14, 2016 9:40am Sep 14, 2016 9:40am
Now, because we trade value and not price, current value is building below yesterday value. So in order to revert this and have continuation upwards we need to reach and stay above at least yesterday pit unchanged at 3190. If not, watch out again for a retracement downwards.
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  • #53
  • Sep 14, 2016 10:01am Sep 14, 2016 10:01am
Quoting Lock
Now, if the test will be positive downside, you know the targets below it. (Look at my previous posts) If it will fail there it's very normal to retrace back up to the opposite side of the balance.
I missed the retrace, damn painful! But still have some cents working on up the sell so far @ 1.3213.


Hoping to meet up with some more better info.
  • #54
  • Sep 14, 2016 10:02am Sep 14, 2016 10:02am
Eventually yesterday pit unchanged has been reached. (1 pip short of it) For continuation (a serious one) we need to stay above it.
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  • #55
  • Sep 14, 2016 10:04am Sep 14, 2016 10:04am
Quoting actionmoney
{quote} I missed the retrace, damn painful! But still have some cents working on up the sell so far @ 1.3213. Hoping to meet up with some more better info.
This is not an easy market at all. So don't worry about it. The difficulty of this market comes from the lack of partecipation of bigger timeframes. Being this market totally weak above and below it is very hard to find a clear edge in to it.
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  • #56
  • Sep 14, 2016 10:09am Sep 14, 2016 10:09am
Please, note the bloody massacre of those who went down in the early morning activity described in detail in posts 44-45. And this is exactly the reason I underline it. The risk embedded in a market comes directly from the strenght of those who are ruling it. The more the weakness of them, the more the risky is the market.

Value is still lower. The opposite side of the balance is near. For those who bought the bottom of the balance (retracement after the failure of the attempted breakout) if price eventually will continue higher, moving value at an overlapping or higher position from yesterday value, we could reach what I wrote in the early post. If not, watch out again. Market is a continuous two way auction process.

Note: D period low is at the open. 3173

Note2: GB J period high (the period who started this weak move down) is at 3207
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  • #57
  • Sep 14, 2016 10:13am Sep 14, 2016 10:13am
What do you say Lock ? Is that false retrace or will Gbp keep going down. I hope so it does as I hv money on it
Be the change that you want to change
  • #58
  • Sep 14, 2016 10:22am Sep 14, 2016 10:22am
Quoting Lock
...Note2: GB J period high (the period who started this weak move down) is at 3207
Taken out
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  • #59
  • Edited 10:37am Sep 14, 2016 10:26am | Edited 10:37am
Quoting mubinirl
What do you say Lock ? Is that false retrace or will Gbp keep going down. I hope so it does as I hv money on it
In order to continue higher we need current value above or overlapping yesterday pit session value. Now current Pit POC is at the open price 3173. We need to stay around here (3200 zone or higher) for at least 4 periods in order to move this POC here and consequently in order to move the value higher. It's 17:24 +1 GMT. We have to stay around here or higher up to 19:30.

If instead you see price moving and stay below 3191 zone (yesterday pit unch) watch out for your long positions.

Please note that 3191 is the major POC of the last price activity starting from the 15 of August. So it is extremely strong and it works as a pole of attraction for price. (and this is the reason why yesterday pit session closed exactly here.) To evade it we need a lot of volume and conviction.
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  • #60
  • Sep 14, 2016 10:36am Sep 14, 2016 10:36am
Thanks Lock man ! I will hv to study deeper into it as you suggested
Be the change that you want to change
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