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Lock's Cable Corner

  • #321
  • Sep 23, 2016 2:01am Sep 23, 2016 2:01am
GB open with a little gap downside exactly at the current minor daily bracket (09.20 low to 09.22 high) half back at 3033. So we have a double pass gap up to yesterday GB low. As written we want to stay below 3033 for continuation downside, so the current gap downside has to be preserved for this purpose. Very difficult situation because as you know 3039 composite POC is a great pole of attraction for any price action around it.
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  • #322
  • Sep 23, 2016 2:07am Sep 23, 2016 2:07am
Now yesterday Sydney poor low has been corrected. If there is something below it we would like to see acceleration. If not...all the way back inside yesterday GB session.
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  • #323
  • Sep 23, 2016 2:33am Sep 23, 2016 2:33am
Quoting Lock
Now yesterday Sydney poor low has been corrected. If there is something below it we would like to see acceleration. If not...all the way back inside yesterday GB session.
B period eventually accelerated right below it. But now let's see. It is attempting the correction of the old gap higher from 09.21. Possible ref 30055 (top of GB session 09.21 and base of this gap higher)

09.21 Pit session anomalies are at 2978-2982, 29915-2999, 3013-3015
as written in the old report:
Quoting Lock
EARLY MORNING REPORT ... Yesterday pit session left behind itself 4 anomalies(2978-2982, 29915-2999, 3013-3015).....
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  • #324
  • Edited 3:01am Sep 23, 2016 2:47am | Edited 3:01am
Yesterday GB gap higher totally retraced. Now we are inside the 09.21 GB session. If there is continuation a first target is the low of this session at 2965.
Please note that current GB session is building a gap downside for the upcoming preUS/pit sessions. It is already quite big. Thake note of this if you like.

Also note that current B low is at round 3000. It is weak.

As written in numerous occasions before in this thread, when a gap is retraced we generally have weak automatic buyers at the bottom of it (if gap higher) and weak automatic sellers at the top of it (if gap lower). This is very common.
Also when a gap is retraced with a sharp move, generally price tend to fill it with further action (volume). Also this is very normal. So if we are going to spend some time here it will be normal, considering the magnitude of the possible pit gap down, the pole of attraction at 3039 and the inventories from yesterday pit high that are now clearly very very short. Also take in to consideration the current presence of a double pass GB gap right above here.
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  • #325
  • Sep 23, 2016 3:16am Sep 23, 2016 3:16am
Quoting Lock
Yesterday GB gap higher totally retraced. Now we are inside the 09.21 GB session. If there is continuation a first target is the low of this session at 2965. Please note that current GB session is building a gap downside for the upcoming preUS/pit sessions. It is already quite big. Thake note of this if you like. Also note that current B low is at round 3000. It is weak. As written in numerous occasions before in this thread, when a gap is retraced we generally have weak automatic buyers at the bottom of it (if gap higher) and weak automatic...
Must read for whose who are trying to understand market motions.

However, I see as follows

1/ IB Asia is wide enough;
2/ IB London is even wider;
3/ the price is now coming to the Asian range;
4/ the prices have made 2 standart deviations down and did not come to the high volume level below;
5/ the upper boundary price level of IB Asia has not been tested;
6/ the monthly pivot has not been tested;

7/ Almost forgot. IMO, The trading day is about to be normally distributed (what mean its coming back to the open price) since there is red news till the day ends and the IBs are wide.

So I am expecting to go higher at least to get monthly pivot

Best
D.P.
Hunting High and Low
  • #326
  • Sep 23, 2016 3:19am Sep 23, 2016 3:19am
Please note the test by period C of the current breakout from yesterday Sydney low.
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  • #327
  • Sep 23, 2016 3:27am Sep 23, 2016 3:27am
Quoting Dr.Phoenix
{quote} Must read for whose who are trying to understand market motions. However, I see as follows 1/ IB Asia is wide enough; 2/ IB London is even wider; 3/ the price is coming to the Asian range; 4/ the prices have made 2 standart deviations down and did not come to the high volume level below; 5/ the upper boundary price level of IB Asia has not been tested; 6/ the monthly pivot has not been tested; So I am expecting to go higher at least to get monthly pivot Best D.P.

Hello Dr.Phoenix, I've similar doubts about current breakout. In my case I'm mainly concerned about the inventories too short from yesterday pit high, the double pass GB gap as said and the pole of attraction of 3039.
The problem here is that this is clearly a further attempt to go down and test the 15 of August poor low. So it is not a strong move for definition. It's a test. So even though it is clearly very weak as both of us are thinking, considering its purpose it could also last.

Anyway, let's take this market a piece at a time. If we have confirmation below B period (inside 09.21 GB session) we could have continuation at least down to its low. If instead we will not see any confirmation below B period, well, in this case a possible retracement will have bigger odds to play.

Also, if price will remain here balancing, we will have a preUS/pit gap down, and that could lead to a further skipp of all the weaknesses above for some time.

Best L.
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  • #328
  • Sep 23, 2016 3:29am Sep 23, 2016 3:29am
Congrats on the thread 👍Nice work
  • #329
  • Sep 23, 2016 3:30am Sep 23, 2016 3:30am
Do you think cable is going to have a more powerful downfall, im seeying a strong bears power with a bearish volatility in accordance to volumes correlated with moving averages and ichimoku clouds
  • #330
  • Sep 23, 2016 3:34am Sep 23, 2016 3:34am
Quoting Lbass
Congrats on the thread 👍Nice work
Thanks from all its partecipants then. You're welcome.
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  • #331
  • Sep 23, 2016 3:39am Sep 23, 2016 3:39am
Quoting Lock
{quote} Hello Dr.Phoenix, I've similar doubts about current breakout. In my case I'm mainly concerned about the inventories too short from yesterday pit high, the double pass GB gap as said and the pole of attraction of 3039. The problem here is that this is clearly a further attempt to go down and test the 15 of August poor low. So it is not a strong move for definition. It's a test. So even though it is clearly very weak as both of us are thinking, considering its purpose it could also last. Anyway, let's take this market a piece at a time. If...

Agreed.

Anyway, I am now thinking that we can not confirm the lower boundary of B period, since we have much volume on the up bar at 8:40 Of course we need testing this area to find low volume to go up... now it is happening.

But you are right if we push through it level lower, we can fall

Best
D.P.
Hunting High and Low
  • #332
  • Sep 23, 2016 3:46am Sep 23, 2016 3:46am
Quoting Lbass
Do you think cable is going to have a more powerful downfall, im seeying a strong bears power with a bearish volatility in accordance to volumes correlated with moving averages and ichimoku clouds
About MA I could only say I do not use them but in correlation with VWMA, just to see what's going on with "volumes". I use ICHI for mid prices/half back. Meaning that I take in serious consideration the half back of any considerable number of periods. As you know 52 means the mid price of the last 52 periods, as 26 the mid price of the last 26 periods and so on. The bigger the number the bigger the relevance of it.

For instance 31637 is the half back (mid price) of the range made bay the last 64 days: surely it is relevant level for a market. And as you see we are now below it from the break down of 09.16.
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  • #333
  • Sep 23, 2016 3:49am Sep 23, 2016 3:49am
[nquote=Lock;9157060]{quote} About MA I could only say I do not use them but in correlation with VWMA, just to see what's going on with "volumes". I use ICHI for mid prices/half back. Meaning that I take in serious consideration the half back of any considerable number of periods. As you know 52 means the mid price of the last 52 periods, as 26 the mid price of the last 26 periods and so on. The bigger the number the bigger the relevance of it. For instance 31637 is the half back (mid price) of the range made bay the last 64 days: surely it is relevant level for a market. And as you see we are now below it from the break down of 09.16.[/quote]
Noted👍
  • #334
  • Sep 23, 2016 3:50am Sep 23, 2016 3:50am
Quoting Lock
Yesterday GB gap higher totally retraced. .... Also note that current B low is at round 3000. It is weak. As written in numerous occasions before in this thread, when a gap is retraced we generally have weak automatic buyers at the bottom of it (if gap higher) and weak automatic sellers at the top of it (if gap lower). This is very common.
Quoting Lock
Also when a gap is retraced with a sharp move, generally price tend to fill it with further action (volume). Also this is very normal.
Quoting Lock
So if we are going to spend some time here it will be normal, considering the magnitude of the possible pit gap down, the pole of attraction at 3039 and the inventories from yesterday pit high that are now clearly very very short. Also take in to consideration the current presence of a double pass GB gap right above here.
Quoting Lock
{quote} ...Pit session anomalies are at 2978-2982, 29915-2999, 3013-3015 as written in the old report.. {quote}
Now D period (last period for Tokyo) is testing the early morning low (B period low). Note that B period low was weak for 2 reasons: it was at round 3000 and it was clearly an automatic buy made after the old gap higher correction. And we took out also the second anomaly from 09.21 pit session (29915-2999). Now let's see if we can have confirmation below it or not.
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  • #335
  • Sep 23, 2016 3:54am Sep 23, 2016 3:54am
Quoting Lock
{quote} Now D period (last period for Tokyo) is testing the early morning low (B period low). Note that B period low was weak for 2 reasons: it was at round 3000 nad it was clearly an automatic buy made after the old gap higher correction. And we took out also the second anomaly from 09.21 pit session. Now let's see if we can have confirmation below it or not.
Lock, can you describe here all types of anomalies (except gaps)?

Best
D.P.

EDITED. Maybe you do mean island-like formations, do not you?
Hunting High and Low
  • #336
  • Edited 4:21am Sep 23, 2016 4:08am | Edited 4:21am
Quoting Dr.Phoenix
{quote} Lock, can you describe here all types of anomalies (except gaps)? Best D.P.
You may see some example in the last report's charts.
There you may see that a smooth profile generally have a POC and a bell shape, more or less elongated. Anomalies are all those prominences that are not the POC along a more elongated profile.
But the meaning of this is "simple": the behavior of major time frames is to (for instance) buy some, then wait (balance and smoothing), then buy again, then wait (balance and smoothing again) and so on. This create smooth profiles.
If instead you have weak hands acting you wil have a different behavior: they will abruptly buy (for instance), then continue buying, then eventually retrace some sharply, then up gain and so on. In this case the result of this action is a too elongated profile, with a lot of litlle no smoothled overlapping periods. These zones of a profile are called anomalies (yes,island-like formations).
And right for their probable origins they are considerated a sign of weakness embedded in the shape of a profile.

For instance current GB profile has 3 anomalies for now (considering also the POC among them). This is not a sign of strength clearly. So, consequently, if it will remain like that, it could be very risky to sell again below them, because probably in that case you are going to act alongside the weak hands.

But let me say a very important thing here: you have to consider all the market information you have. Anomalies are only one information and not the only one. If you see anomalies in a profile this does not mean price is going to retrace them right now, nor that such a move could not continue in its direction. It only underlines the probable weak partecipation to that particular move and the possibility, if other elements will suggest it, that that move could be eventually retraced and corrected.
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  • #337
  • Sep 23, 2016 4:19am Sep 23, 2016 4:19am
Quoting Lock
{quote} You may see some example in the last report's charts. There you may see that a smooth profile generally have a POC and a bell shape, more or less elongated. Anomalies are all those prominences that are not the POC along a more elongated profile. But the meaning of this is "simple": the behavior of major time frames is to (for instance) buy some, then wait (balance and smoothing), then buy again, then wait (balance and smoothing again) and so on. This create smooth profiles. If instead you have weak hands acting you wil have a different behavior:...
Understood..

Technically these formations have the same nature as the hidden gaps. The only difference is that they are smaller.

Quoting Lock
{quote}For instance current GB profile has 3 anomalies for now (considering also the POC among them). This is not a sign of strength clearly. So, consequently, if it will remain like that, it could be very risky to sell again below them, because probably in that case you are going to act alongside the weak hands. But let me say a very important thing here: you have to consider all the market information you have. Anomalies are only one information and not the only one. If you see anomalies in a profile this does not mean price is going to retrace them right now, nor that such a move could not continue in its direction. It only underlines the probable weak partecipation to that particular move and the possibility, if other elements will sugget it, that that move could be eventually retraced and corrected.
I like this stuff. I seeeee themm

I think they are very helpful to get intra-session structure clear.

The hidden gaps are taken from the higher TFs though, but your vision is much interesting to be being watched intra-session.

Best
D.P.
Hunting High and Low
  • #338
  • Sep 23, 2016 4:23am Sep 23, 2016 4:23am
Quoting Lock
{quote} the behavior of major time frames is to (for instance) buy some, then wait (balance and smoothing), then buy again, then wait (balance and smoothing again) and so on. This create smooth profiles. If instead you have weak hands acting you wil have a different behavior: they will abruptly buy (for instance), then continue buying, then eventually retrace some sharply, then up gain and so on. In this case the result of this action is a too elongated profile, with a lot of litlle no smoothled overlapping periods.
So does that mean, that abrupt hectic buying/selling together with sharp retracements means weak hands and abrupt buying/selling without sharp retracements (last friday) means major TF players? I'm a bit confused now, how to determine whether the sharp move was done by weak hands or major TF players.
  • #339
  • Sep 23, 2016 4:32am Sep 23, 2016 4:32am
Let us resume.

Do I right understand?

1/ if we are talking about weakness, the price going through levels down and does not do retraces to fill the "islands" out with volume. Agreed.
2/ if the price is going up with strength, it retraces back and fill the potential islands with volume.

Ok.

But what if we have, let us say, the sharp upmove. What is it then?

Best
D.P.
Hunting High and Low
  • #340
  • Sep 23, 2016 4:39am Sep 23, 2016 4:39am
F period inside D. I'll answer both your questions asap.
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