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Lock's Cable Corner

  • #601
  • Oct 3, 2016 12:58am Oct 3, 2016 12:58am
Quoting Lock
A lot of single pips for A period. August low takne out but not by a pis session for now. 2850 is the last weak ref for GB.
Yes, The first half hour is over, and it is wide, I must say, ...very wide for the first hour.
However we have a narrow Asia open. Too narrow indeed.

More over, The initial weekly (IB) balance has now been expanded lower. It is now wide as well.
So, I can assume that this week might be formed at the rotation mode within the weekly range.

Best
D.P.
Hunting High and Low
  • #602
  • Oct 3, 2016 1:19am Oct 3, 2016 1:19am
Considering the importance of this forcing action downside I do not see the current B C poor low as a valid low. Naturally we could have even a substantial retracement during news or after, but I do not think this low could be the start for a new serious auction upside. Anyhow note that curren C period is inside B. So let's see.
Ubi maior minor cessat
  • #603
  • Oct 3, 2016 1:23am Oct 3, 2016 1:23am
Quoting Dr.Phoenix
{quote} Yes, The first half hour is over, and it is wide, I must say, ...very wide for the first hour. However we have a narrow Asia open. Too narrow indeed. More over, The initial weekly (IB) balance has now been expanded lower. It is now wide as well. So, I can assume that this week might be formed at the rotation mode within the weekly range. Best D.P.
I think current situation need some further development before. There are too many things to consider right now. Best L.
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  • #604
  • Oct 3, 2016 1:38am Oct 3, 2016 1:38am
Quoting Lock
A lot of single pips for A period. August low taken out but not by a pit session for now. 2850 is the last weak ref for GB.
So B, C and D period corrected the 60pc of the A period now. Let's see if it is enough. We are still acting below the GB august lowest close at 28725. A confirmation below or above it will be very significant. If we are going to come in to balance we have to see price around the A period low at 28534. If not the correction is not over.
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  • #605
  • Oct 3, 2016 2:29am Oct 3, 2016 2:29am
Quoting Lock
{quote} So B, C and D period corrected the 60pc of the A period now. Let's see if it is enough. We are still acting below the GB august lowest close at 28725. A confirmation below or above it will be very significant. If we are going to come in to balance we have to see price around the A period low at 28534. If not the correction is not over.
So after the breakout correction from C period balance, D and E periods menaged to retrace most od the single pips left by the initial A period. Now, we have still a poor low (A B period lows) to correct but We have the double pass (now triple) pit gap above. This made the current GB session very uncertain. And a good suggestion could be to wait for the upcoming pit one that could eventually clarify the situation here.
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  • #606
  • Oct 3, 2016 5:18am Oct 3, 2016 5:18am
Quoting Lock
{quote} So after the breakout correction from C period balance, D and E periods menaged to retrace most od the single pips left by the initial A period. Now, we have still a poor low (A B period lows) to correct but We have the double pass (now triple) pit gap above. This made the current GB session very uncertain. And a good suggestion could be to wait for the upcoming pit one that could eventually clarify the situation here.
PreUS opened 2 pips above the 15 of August pit low (28654) with a big gap down from Friday pit low at 29494. The double pass pit gap at 28875-2902 is currently a triple pass gap if upcoming pit session will open below it. The GB poor low is still there at 28455 uncorrected.

Attached Image (click to enlarge)
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  • #607
  • Oct 3, 2016 6:11am Oct 3, 2016 6:11am
Quoting Lock
{quote} PreUS opened 2 pips above the 15 of August pit low (28654) with a big gap down from Friday pit low at 29494. The double pass pit gap at 28875-2902 is currently a triple pass gap if upcoming pit session will open below it. The GB poor low is still there at 28455 uncorrected. {image}
PreUS is building a very big gap for upcoming Pit session. And it is now testing the GB poor low. If we find acceptation below it we could eventually test the June Tokyo low at 2795 (lower daily bracket low)

But do not forget the now triple pass pit gap at 28875-2902. This will be clearly an important zone for all the upcoming pit sessions starting from today. (It doesn't mean it has to correct it today or ... It means that it is a zone of great interest for pit partecipants.)
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  • #608
  • Oct 3, 2016 6:31am Oct 3, 2016 6:31am
Quoting Lock
{quote} PreUS is building a very big gap for upcoming Pit session. And it is now testing the GB poor low. If we find acceptation below it we could eventually test the June Tokyo low at 2795 (lower daily bracket low) But do not forget the now triple pass pit gap at 28875-2902. This will be clearly an important zone for all the upcoming pit sessions starting from today. (It doesn't mean it has to correct it today or ... It means that it is a zone of great interest for pit partecipants.)
15:31 +1GMT
Pit session opens with more than 100 pips of gap downside. Right at the bottom of today GB session. Now let's see how it will react to this situation.

Now every weak references made by previous pit sessions downside up to the 15 of August poor low are to be considered corrected.
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  • #609
  • Oct 3, 2016 7:41am Oct 3, 2016 7:41am
16:40 +1GMT

B period high is at initial half back, C period high is at current half back. Carry these information forward.
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  • #610
  • Oct 3, 2016 7:51am Oct 3, 2016 7:51am
Quoting Lock
16:40 +1GMT B period high is at initial half back, C period high is at current half back. Carry these information forward.

Did you see it? Both removed at once.
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  • #611
  • Oct 3, 2016 7:53am Oct 3, 2016 7:53am
C period is at round 2850. As A period high is at preUS hb and preUS period A is at GB half back. I'm not saying it is going to correct them now. I'm saying that those who sold there are weak hands. At the same time the gap down is still untouched.
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  • #612
  • Oct 3, 2016 7:58am Oct 3, 2016 7:58am
Anyhow I would like to see a balance here before to take any further decision. I'm off for now. If I'll find something interesting I'll be back. Have a good continuation.
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  • #613
  • Oct 3, 2016 9:17am Oct 3, 2016 9:17am
Quoting Lock
Anyhow I would like to see a balance here before to take any further decision. I'm off for now. If I'll find something interesting I'll be back. Have a good continuation.
And now we have balance. E is inside period of D that is inside period of C. A possible breakout from here. And if the breakout will fail in one direction the natural target is at the opposite side of the balance.

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Watch out: F period low at hb.
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  • #614
  • Oct 3, 2016 10:27am Oct 3, 2016 10:27am
Quoting Lock
{quote} And now we have balance. E is inside period of D that is inside period of C. A possible breakout from here. And if the breakout will fail in one direction the natural target is at the opposite side of the balance. {image} Watch out: F period low at hb.

So Even F was part of the balance: F inside E inside D inside C then breakout. It eventually break above in the direction of the 15 of August pit poor low, probably to test it. Note anyhow that we are against weekly and daily trend downside, and against the gap down. Note also that price action is grinding upside. An finally note that F period low is hb as G period low is London close.
I'm not saying it cannot go higher, but carry this information forward if something will go wrong.

Refs upside are in the previous posts if you need them*. While below we have only those written here plus a possible test of the lower daily bracket low at 2795.

*multipass pit gap, bla, bla..

I'm off. Have a nice continuation.

PS:

Quoting Lock
C period is at round 2850. As A period high is at preUS hb and preUS period A is at GB half back. I'm not saying it is going to correct them now. I'm saying that those who sold there are weak hands. At the same time the gap down is still untouched.
Both taken out during this breakout.
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  • #615
  • Oct 3, 2016 11:14pm Oct 3, 2016 11:14pm
Quoting Lock
... An finally note that F period low is hb as G period low is London close. I'm not saying it cannot go higher, but carry this information forward if something will go wrong. .....
A little note about yesterday pit session ending: as you see it cannot go higher and closed exactly at London close, G period low...
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  • #616
  • Edited 11:48pm Oct 3, 2016 11:20pm | Edited 11:48pm
08:21 +1GMT (edited untill 8:48)
EARLY MORNING REPORT

Yesterday after a long path from the 09.06 high, it managed to correct the 15 of August pit poor low at 28653 (28654/5 it depends by your data) With this, after the monthly failure above August high, the retracement of the balance in the opposite direction is complete. Now, from here we could do two things (probably after some balance) insist downside to verify what could be below the 2975 Tokyo low from 07.06 (the low of the lower daily bracket 2795-30465 but also the low of the major daily bracket 2795-35326) and after find nothing coming back inside the balance starting a retracement of all the weaknesses left upside, up to the 09.06 high.
Or, it could make an initial correction upside (removing some very weak seller) and then continue lower with more conviction, using the left gaps upside as resistance for this possible move down skipping the weaknesses above for more time.**

Note that right now current Tokyo session (again without the partecipation of China: bank holiday) is building a possible gap downside for the upcoming GB session. If so and if it will resist, we have some good odds to test immediately the major daily bracket low at 2795. If not I can imagine some sort of balance around the 28785 composite poc: that is not a strong one but is the nearest around here.

Please have a look to the yesterday EM REPORT to see other references.

Note that we have 2 back to back pit session poor highs: one from yesterday at 2872 and the previous one from Friday at 30225. They are separed by the big gap made during the weekend (2872-2949), so they are not really "back to back" but anyhow they are not good at all.
Also note that between them we have the notorius now TRIPLE PASS pit gap at 28875-2902: so potentially all this zone from 2872 to 30225 is of great interest for any upcoming pit session.

**A FINAL NOTE: I have no data below the daily bracket low at 2795. So it will very hard to play below there. Specially if it will go below that level without any previous retracement upside.

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  • #617
  • Oct 3, 2016 11:51pm Oct 3, 2016 11:51pm
Well Tokyo made the first test below its own old 07.06 low at 2872. Now we have a possible huge GB gap downside and, let me say it, not a very easy situation to handle.
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  • #618
  • Edited 12:12am Oct 4, 2016 12:01am | Edited 12:12am
70 pips of gap downside and a possible re-test up to 2872. We are in no man land zone for me: so...if you have any data, do not esitate to share them here..

For now we have a Tokyo minus develpment up to 2815. N Tokyo period is a spike obviously.

N period data: Note the very negative delta. It's -155.9 and it's the difference between the volume delta 73.3 and the range delta 229.2

Attached Image
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  • #619
  • Edited 12:34am Oct 4, 2016 12:15am | Edited 12:34am
USDX is attempting a breakout from yesterday inside day of Friday.

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  • #620
  • Oct 4, 2016 12:31am Oct 4, 2016 12:31am
Any uptrend showing? Or theres no hope?
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