Lock's Cable Corner | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #241
  • Sep 20, 2016 6:40am Sep 20, 2016 6:40am
Quoting Lock
Note also that current pit session (opened with a gap down) is tagging the old pit poor low from 08.16): extraordinary weak here.
Lock, would like to ask - you are saying "poor" - does not it mean it has not been tested?

Best
D.P.
Hunting High and Low
  • #242
  • Sep 20, 2016 6:43am Sep 20, 2016 6:43am
Quoting Lock
Note also that current pit session (opened with a gap down) is tagging the old pit poor low from 08.16): extraordinary weak here.
Now both the old pit poor low and the GB poor low have been removed. We want to saty below them for continuation downside.
Ubi maior minor cessat
  • #243
  • Sep 20, 2016 6:53am Sep 20, 2016 6:53am
Quoting Lock
I'm sorry for my absence today. I was forced out for business reasons.
No problem sir.
  • #244
  • Sep 20, 2016 6:54am Sep 20, 2016 6:54am
Quoting Dr.Phoenix
{quote} Lock, would like to ask - you are saying "poor" - does not it mean it has not been tested? Best D.P.
Good question. It has been tested by a different (weaker ) session. So it was still poor at the moment of the current pit session open. We have to remember that those who act during GB session (before 15:30 +1 GMT) act without the partecipation of the US traders. It's ambiguos, I have to admit it, because sometime I wrote about pit anomalies corrected by other sessions. It was better to say: partially corrected also in those cases. Best L.
Ubi maior minor cessat
  • #245
  • Sep 20, 2016 6:59am Sep 20, 2016 6:59am
Quoting Lock
{quote} Good question. It has been tested by a different (weaker ) session. So it was still poor at the moment of the current pit session open. We have to remember that those who act during GB session (before 15:30 +1 GMT) act without the partecipation of the US traders. It's ambiguos, I have to admit it, because sometime I wrote about pit anomalies corrected by other sessions. It was better to say: partially corrected also in those cases.
Does it mean if the low becomes "Strong, not poor" as soon as it has been tested by the Strong money after IB NY has been formed (+1hour)?

Best
D.P.
Hunting High and Low
  • #246
  • Sep 20, 2016 6:59am Sep 20, 2016 6:59am
Now, 2965 is a major composite POC and we have inventories very short after the GB session. We are also in between two gaps as written, so a balance here is not impossible before to retrace some or continue lower. For now, pit session tested below overnight low and came back inside its range. Current pit low is weak as it is a tag of a round number (2950)
Ubi maior minor cessat
  • #247
  • Sep 20, 2016 7:05am Sep 20, 2016 7:05am
Quoting Dr.Phoenix
{quote} Does it mean if the low becomes "Strong, not poor" as soon as it has been tested by the Strong money after IB NY has been formed (+1hour)? Best D.P.

Current pit session low is now weak but not poor. Poor is a technical word: it means that we have 2 period lows with the same low price or with only 1 pip of difference. Weak means that the low is tagging a precise reference and considering that a precise ref is used by weak hands traders an auction started or ended in such a level is weak for definition. For instance current pit period A high is exactly at preUS hb: it is weak. "A" pre US period tagged exactly H and J GB period highs, it is a cluster of m30 periods and it is a weak level.
Ubi maior minor cessat
  • #248
  • Edited 7:27am Sep 20, 2016 7:12am | Edited 7:27am
Quoting Lock
Now, 2965 is a major composite POC and we have inventories very short after the GB session. We are also in between two gaps as written, so a balance here is not impossible before to retrace some or continue lower. For now, pit session tested below overnight low and came back inside its range. Current pit low is weak as it is a tag of a round number (2950)
Look at the bar spread (high-low) and its volume.
You can see that spread is rising, but the volume is decreasing.
These are manipulation movements.

Look at the zones in red squares - the prices are at the white dotted lines areas. These are more than 2 standart deviations. For the sideways market these areas should be of maximal value. Let us see.

Best
D.P.

Quoting Lock
{quote} Current pit session low is now weak but not poor. Poor is a technical word: it means that we have 2 period lows with the same low price or with only 1 pip of difference. Weak means that the low is tagging a precise reference and considering that a precise ref is used by weak hands traders an auction started or ended in such a level is weak for definition. For instance current pit period A high is exactly at preUS hb: it is weak. "A" pre US period tagged exactly H and J GB period highs, it is a cluster of m30 periods and it is a weak level....
got it
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-09-20_17-05-311.jpg Size: 549 KB
Hunting High and Low
  • #249
  • Edited 7:34am Sep 20, 2016 7:23am | Edited 7:34am
Quoting Dr.Phoenix
{quote} Look at the bar spread (high-low) and its volume. You can see that spread is rising, but the volume is decreasing. These are manipulation movements. Look at the zones in red - the prices are at the white dotted lines areas. These are more than 2 standart deviations. For the sideways market these area should be maximal value. Let us see. Best D.P. {quote} got it thanks {image}
This is interesting: I use a different calculation for that. I consider the volume average of the last 30 days (for instance) for a particular m30 period (let's say: 9:30 to 10:00), then I note the volume for the same current period. Let's say I have an average of 2835 for that period and a volume of 2561 for the current period. Now it is a difference of 9.7 %.
After that I consider the spread between the high and the low of the period (average of the last 30 days and current one) and I make the same calculation as for volumes. Let's say 20.9 is the average while 13.2 is the current period spread. So the difference here is -36.7%.

So I have 2 data: Volume (average-current=-9.7%) Spread (average-current=-36.7%). With these 2 numbers a make a final difference that I call "delta". So -9.7-(-36.7)=+27.1 If the delta is positive I interpret this result as a form of strength, othewise as a form of weakness.

The meaning of this very empiric calculation is the following, if the spread grow less than the volume it's a meaningfull period otherwise is less significant. Now a "directional" period is a thing while a "balance" period is an other thing. I consider volume during directional movement, not during balance.


Also, note that I use an average period related data. You can mesure a difference between similar data. It has no value to compare the 9:00-9:30 period (+1GMT) with, let's say, the 3:00-3:3:30 period. We have in those periods different partecipants, different liquidities etc.
Attached Image
Ubi maior minor cessat
  • #250
  • Sep 20, 2016 7:41am Sep 20, 2016 7:41am
Quoting Lock
{quote} This is interesting: I use a different calculation for that. I consider the volume average of the last 30 days (for instance) for a particular m30 period (let's say: 9:30 to 10:00), then I note the volume for the same current period. Let's say I have an average of 2835 for that period and a volume of 2561 for the current period. Now it is a difference of 9.7 %. After that I consider the spread between the high and the low of the period (average of the last 30 days and current one) and I make the same calculation as for volumes. Let's say...
Lock, it is interesting as well, I have got the idea.

For now look at the upper right corner of the picture and you can see the sessions' IB data - that is for the same purpuses.
However your data is more careful.

Can you share this indicator? is it for free or you bought it?

I have some questions to discuss, but a little bit later.

Best
D.P.
Hunting High and Low
  • #251
  • Sep 20, 2016 7:53am Sep 20, 2016 7:53am
Quoting Dr.Phoenix
{quote} Lock, it is interesting as well, I have got the idea. For now look at the upper right corner of the picture and you can see the sessions' IB data - that is for the same purpuses. However your data is more careful. Can you share this indicator? is it for free or you bought it? I have some questions to discuss, but a little bit later. Best D.P.
I made it. The base in fact is the initial balance indy you're currenly using. I will share it with you if you like but let me say that I do not use it too much because generally I risk to lose the bigger perspective considering these data so "carefully". Also I'm not a programmer so, as for the other indicator (the TPO tool) it slows the platform and has some difficult setting to consider. Best L.
Ubi maior minor cessat
  • #252
  • Sep 20, 2016 7:55am Sep 20, 2016 7:55am
Quoting Lock
Now, 2965 is a major composite POC and we have inventories very short after the GB session. We are also in between two gaps as written, so a balance here is not impossible before to retrace some or continue lower. For now, pit session tested below overnight low and came back inside its range. Current pit low is weak as it is a tag of a round number (2950)
Now we spent 1 hour and a half in balance with a narrow range of 16 pips. And now A C periods low is both poor and weak.
Ubi maior minor cessat
  • #253
  • Sep 20, 2016 7:56am Sep 20, 2016 7:56am
Hi Lock, do you think it will continue to fall today or has it exhausted the sellers?
Striving for consistency
  • #254
  • Sep 20, 2016 8:00am Sep 20, 2016 8:00am
Quoting Wdfx
Hi Lock, do you think it will continue to fall today or has it exhausted the sellers?
Its still falling but not with any fast move.
  • #255
  • Sep 20, 2016 8:19am Sep 20, 2016 8:19am
Quoting Wdfx
Hi Lock, do you think it will continue to fall today or has it exhausted the sellers?
I don't know. Also I didn't follow this move downside during its developing so I miss some parameters like "tempo", conviction and so on... Firstly I can see that current pit session has a very narrow range and it should unfold from here. Secondly I can underline the fact that current auction has a poor low and that the poor low from the 15 of August is still there. Third I note that we have a big gap down and it is rare that a so big gap is retraced the same day it has been built. Having said that I cannot forget that all this correction downside is totally weak, starting from a ridiculous cluster of poor highs. So a correction upward is possible and absolutely normal in any moment.

Now current D period is an inside bar of C. If it is preserved like this a breakout could happen from here.
Ubi maior minor cessat
  • #256
  • Sep 20, 2016 8:22am Sep 20, 2016 8:22am
Quoting Lock
{quote} I don't know. Also I didn't follow this move downside during its developing so I miss some parameters like "tempo", conviction and so on... First I can see that current pit session has a very narrow range and it should unfold from here. Secondly I can underline the fact that current auction has a poor low and that the poor low from the 15 of August is still there. Third I note that we have a big gap down and it is rare that a so big gap is retraced the same day it has been built. Having said that I cannot forget that all this correction...
Thanks Lock
Striving for consistency
  • #257
  • Edited 8:55am Sep 20, 2016 8:34am | Edited 8:55am
Now we are tagging the open of the preUS session. Weak hands here (2973). Weak hands at the poor low (2946). Above we have a gap downside, below we have a gap upside. And the composite POC in the middle at 2965. It's trapped here for now.

Note that E low is at hb. Also note that E period is the last one for London. So the E close is the London close. Now, yesterday London close was at 3049 only some pips above the lower daily bracket high at 30465. Now, if E is going to close here, London will move its lowest close well below the GO/NO GO LEVEL of 30465. This is an important information from my point of view. It could mean acceptation of the lower daily bracket range.
Ubi maior minor cessat
  • #258
  • Sep 20, 2016 9:02am Sep 20, 2016 9:02am
Now the m30 cluster at 2977 is at risk considering also the current pit poor high.
Ubi maior minor cessat
  • #259
  • Sep 20, 2016 9:08am Sep 20, 2016 9:08am
Quoting Lock
Now the m30 cluster at 2977 is at risk considering also the current pit poor high.
taken out. Now it could fail here and come back inside the little Us pit range or accelerate upside (against the gap down!)
Ubi maior minor cessat
  • #260
  • Sep 20, 2016 9:22am Sep 20, 2016 9:22am
Quoting Lock
{quote} taken out. Now it could fail here and come back inside the little Us pit range or accelerate upside (against the gap down!)
After a failure from balance the natural target is at the opposite side of the balance. Remember that the attempted breakout started at E low, half back of the pit session at that moment in time. Plus at the oppisite side of the balance we have a poor low. So if it will confirm a failure here, at least you know where it could go after and why.
Ubi maior minor cessat
4 traders viewing now