Lock's Cable Corner | Page 26 | 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

  • #501
  • Sep 28, 2016 9:30am Sep 28, 2016 9:30am
Quoting Lock
It looks like it is liquidating yesterday short covering for now. Obviously for continuation downside we want at least to stay below GB low asap. Remember that liquidation and short covering are both old business, no new money selling or buying. So, for definition, they are weaker actions.
16:30 No way, Back to open again. An other test at 3026?

16:38 A C poor high. C low at half back. Up and down open numeorus times. There is nobody here but weak hands for now.
Ubi maior minor cessat
  • #502
  • Sep 28, 2016 9:49am Sep 28, 2016 9:49am
16:49 Now liquidation? Poor low

If it will really go down from here leaving behind 2 poor highs in a row it could only be liquidation.
Ubi maior minor cessat
  • #503
  • Sep 28, 2016 10:05am Sep 28, 2016 10:05am
Quoting Lock
It looks like it is liquidating yesterday short covering for now. Obviously for continuation downside we want at least to stay below GB low asap. Remember that liquidation and short covering are both old business, no new money selling or buying. So, for definition, they are weaker actions.
It is now testing the GB low. I repeat here what I've already written: for any meaningfull continuation downside we need to confirm asap below GB low. (and I hope so because I'm selling)
If not, all the way back to the two poor highs in a row.

USDX is attempting again upside...

D high at half back + round 3000

E, last London period... We are now only some pips below yesterday London close (yesterday pit session E period close) at 30025.

Current E high at half back as D period high (2 pips below round 3000).

USDX failed again upside, for now.

Also E period inside bar of D.

Note anyway that we have no periods of the current session closed above or even near to the yesterday pit session unchanged (30207).
So unless price will reach it quickly and start to develop above it , current value will be inside yesterday or below yesterday value... (that is exactly the opposite situation of this morning GB session) So, even if the situation looks similar (a lot of weak references above and so on) it is infact very different for now. So if price will fail above half back / 30000 watch out!!
Ubi maior minor cessat
  • #504
  • Sep 28, 2016 11:18am Sep 28, 2016 11:18am
Ok, let's see if it is real. First poor high is at 30175. Then we have the yesterday unchanged at 30207 and eventually the seond poor high at 3026.

If it is serious it has to take them out quikly and confirm above the last one.
Ubi maior minor cessat
  • #505
  • Sep 28, 2016 12:32pm Sep 28, 2016 12:32pm
Well, it's trapped at daily POC. Maybe it could spike but I'm too tired to wait for this eventuality. For now it is a full balance pit session inside a full balance day. Current pit session value is inside yesterday pit value. As its range (that is inside yesterday pit range) Let's see tomorrow if we will have a breakout from this inside session in order to do something with these gap zones above and below!

Have a nice continuation. Best L.
Ubi maior minor cessat
  • #506
  • Sep 28, 2016 4:48pm Sep 28, 2016 4:48pm
Quoting Lock
Ok, let's see if it is real. First poor high is at 30175. Then we have the yesterday unchanged at 30207 and eventually the seond poor high at 3026. If it is serious it has to take them out quikly and confirm above the last one.
Quoting Lock
Well, it's trapped at daily POC. Maybe it could spike but I'm too tired to wait for this eventuality. ....
Final Report

So, eventually it made a spike with J and K periods and finished the job taking out all the references above: the poor high at 30175 , the yesterday unchanged at 30207 and the seond poor high at 3026. Then nothing more. As you could note, it made it in slow motion, not quickly, and it didn't confirm above the last one. When I saw the time it was spending to reach the yesterday unchanged (it made a balance of 4 periods: F, G, H and I) I understood that it could not be a very strong move. Specially because the current value was inside yesterday value, and it could not move higher considering the time left. Plus I was really tired so in any case I decided to step aside.

Have a good night. Best L.
Ubi maior minor cessat
  • #507
  • Edited 1:58am Sep 29, 2016 1:04am | Edited 1:58am
16/09/29
EARLY MORNING REPORT

Yesterday pit session closed in the way we described. Then Sydney and Tokyo attempted both a test above the lower daily bracket high at 30465 and failed. Then Tokyo liquidated the test and it is now back inside yesterday GB session.

Now we have some possibilities here:

  1. If Tokyo will open here inside yesterday GB session we could expect initial acceptation of yesterday GB range 2980-30305 and then a test above or below this range. Above to verify the tests by Sydney and Tokyo (above 30465 the lower daily bracket high) and to fill the GB double pass gap (3034-30464), below to go to the main composite poc at 2968 and wait there the news.
  2. If instead Tokyo will close above yesterday GB session range we will have a gap: this gap could eventually support the filling of the GB double pass gap (3034-30464) and a further test above 30465 but with more possibilities to succeed. Or, if this possible test will be retraced immediately, we could have a complete retracement of the yes GB session range back again to the composite POC at 2968.

Note that if we will have a further test above 30465 by upcoming GB session and it will fail we still have the possibility of a further test by the following pis session. If instead the possible GB test will lead to a full retracement back down to the weakness zone below the composite POC at 2968, in this case it is probable to see an initial correction of these weaknesses* by upcoming pit session, before to see again a new test above 30465 by other pit sessions.

*double pass pit gap (28875-2902) and the pit poor low from the 15 of August.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 64 KB


Daily perspective

Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 48 KB
Ubi maior minor cessat
  • #508
  • Sep 29, 2016 2:08am Sep 29, 2016 2:08am
GB opened inside yesterday. Initial acceptation of yesterday range expected and then a possible test above or below it. If it will perform a test above as described in the report and if it will succeed above 30465, the next references to test are the higher daily bracket low at 31185 and the back to back pit session highs at 3120. After these refs we have the major daily bracket half back at 31637. Note also that from 3086 to 3159 we have the old GB gap down from 09.16.
Ubi maior minor cessat
  • #509
  • Sep 29, 2016 2:21am Sep 29, 2016 2:21am
09:21 +1GMT
Please note that A period low is exactly at yesterday GB open.
Ubi maior minor cessat
  • #510
  • Sep 29, 2016 2:29am Sep 29, 2016 2:29am
Quoting Lock
09:21 +1GMT Please note that A period low is exactly at yesterday GB open.
09:29 +1GMT
tested
Ubi maior minor cessat
  • #511
  • Sep 29, 2016 2:43am Sep 29, 2016 2:43am
Quoting Lock
16/09/29 EARLY MORNING REPORT ... If Tokyo will open here inside yesterday GB session we could expect initial acceptation of yesterday GB range 2980-30305 and then a test above or below this range. Above to verify the tests by Sydney and Tokyo (above 30465 the lower daily bracket high) and to fill the GB double pass gap (3034-30464), below ...
09:43 +1GMT

Testing yesterday GB high at 30305

Quoting Lock
{quote} 09:43 +1GMT Testing yesterday GB high at 30305
09:57 +1GMT
First test above range high 30305 failed.

10:00 +1GMT
Now testing Tokyo low at 30085

Please note that we are up and down the 50% (half back) of the move down from 09.22

10:06 +1GMT
50% (half back) of the move down from 09.22 now tagged by C period High (at the pip 3017)

10:15 +1GMT
B C poor low and C high at current half back: full weak environment.

10:25 +1GMT
Watch out if it will fail below Tokyo low at 30085
Ubi maior minor cessat
  • #512
  • Sep 29, 2016 3:28am Sep 29, 2016 3:28am
Quoting Lock
10:25 +1GMT Watch out if it will fail below Tokyo low at 30085
Hey Locky...

Don't understand what you mean...fail as in below 03085 it will rise or fail below 30085 and keep falling?
Don't Leave Money on the Table
  • #513
  • Sep 29, 2016 3:37am Sep 29, 2016 3:37am
Quoting Lock
10:25 +1GMT Watch out if it will fail below Tokyo low at 30085
Now if it will be a succesfull test below Tokyo low it will aim to yesterday GB low 29805 and the main POC at 2968.

Quoting HaLBot
{quote} Hey Locky... Don't understand what you mean...fail as in below 03085 it will rise or fail below 30085 and keep falling?
C high is at half back/open price. So it is weak. There are possibilities of a failure of this attempted break down below Tokyo low. In this case watch out, because price will be back at yesterday GB high. Monitor for continuation: we need acceptation below Tokyo low and we need the yesterday GB low as soon as possible.
Ubi maior minor cessat
  • #514
  • Sep 29, 2016 3:40am Sep 29, 2016 3:40am
Quoting Lock
{quote} Now if it will be a succesfull test below Tokyo low it will aim to yesterday GB low 29805 and the main POC at 2968.
What mean by successful test below tokyo ??
  • #515
  • Sep 29, 2016 3:43am Sep 29, 2016 3:43am
Quoting SadiaQureshi
{quote} What mean by successful test below tokyo ??
A succesfull test means acceptation below this level (Tokyo low). Acceptation... well as you see is spiking*..
Anyhow, we have acceptation below a level (or above) when at least a couple of m30 periods will close below (or above) it.
There are other parameters to evaluate: acceleration is one of them. When you see a breakout you want to see acceleration not stall or grinding. Also you do not want to see price up and down breakeven too many times.

*Now a spike is clearly an acceleration.

10:51 +1GMT
Please note that D period is the last one of Tokyo and we are now only some pips above yesterday Tokyo close at 2991. So Tokyo could close at the same level of yesterday.
Ubi maior minor cessat
  • #516
  • Sep 29, 2016 4:26am Sep 29, 2016 4:26am
Quoting Lock
{quote} Now if it will be a succesfull test below Tokyo low it will aim to yesterday GB low 29805 and the main POC at 2968. ....
11:27 +1GMT
It is going to test yesterday low at 29805

11:31 +1GMT
E F poor low.
Ubi maior minor cessat
  • #517
  • Sep 29, 2016 4:37am Sep 29, 2016 4:37am
Note the 29955-3008 GB minus develpment: carry this information forward. It could be usefull if something will go wrong during the following possible tests downside or, eventually, during next GB sessions.
Ubi maior minor cessat
  • #518
  • Sep 29, 2016 4:57am Sep 29, 2016 4:57am
Quoting Lock
{quote} 11:27 +1GMT It is going to test yesterday low at 29805 11:31 +1GMT E F poor low.
Yeah, we are going down once again

Best
D.P.
Hunting High and Low
  • #519
  • Sep 29, 2016 5:52am Sep 29, 2016 5:52am
Quoting Dr.Phoenix
{quote} Yeah, we are going down once again Best D.P.
Quoting Lock
Note the 29955-3008 GB minus develpment: carry this information forward. It could be usefull if something will go wrong during the following possible tests downside or, eventually, during next GB sessions.
Minus develpment 29955-3008 taken out

Unfortunately (for both of us I think*) it went wrong downside. The E F poor low remained unsolved and we had no test at the yesterday GB range low.. For now. Tricky market.

*I only managed to close my shorts and buy a few pips here.

I think it was too weak coming down from open/half back at C high...

Quoting Lock
.... C high is at half back/open price. So it is weak. There are possibilities of a failure of this attempted break down below Tokyo low. In this case watch out, because price will be back at yesterday GB high. Monitor for continuation: we need acceptation below Tokyo low and we need the yesterday GB low as soon as possible.
We got acceptation below Tokyo but we had no a fast test of the yesterday GB low...
Ubi maior minor cessat
  • #520
  • Sep 29, 2016 5:55am Sep 29, 2016 5:55am
Quoting Lock
{quote} {quote} Minus develpment 29955-3008 taken out Unfortunately (for both of us I think*) it went wrong downside. The E F poor low reamined unsolved and we had no test at the yesterday GB range low.. For now. Tricky market. *I only managed to close my shorts and buy a few pips here.
Wait a moment..

D.P.
Hunting High and Low
3 traders viewing now