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Lock's Cable Corner

  • #721
  • Oct 7, 2016 1:37am Oct 7, 2016 1:37am
Hello, Lock, Guys

So, the only week hands have been trading last days; they were completely whiped out. This Black Swan Event was expected. But many believed it would not be.
Now the situations stay the same - week hends are operational. I do know if market can go even lower, but, IMO, BBs are ready to get in.

Best
D.P.
Hunting High and Low
  • #722
  • Oct 7, 2016 1:38am Oct 7, 2016 1:38am
Quoting Lock
{quote} {quote} As a longer timeframe trader and macro analyst giveachance made a perfect evaluation of the current situation. A deserved applause for him. Best L.
until now BOE has not said a word about flash crash which makes me worried. I suspect it was a bad finger but I am sure he will come back again to hammer the pound to 1.18. if 1.14 was the low registered by reuters I think we have the lows for decade now.
  • #723
  • Edited 1:56am Oct 7, 2016 1:52am | Edited 1:56am
10:51 +1GMT

Yes weak hands ruling as always in the last weeks. C D periods poor low at 24245. D period weak high at round 2450.

10:55 +1GMT
D for now could be considered as inside bar of C. If it will remain so up to E open we could have a break. Note that D is the last bar for Tokyo. So its close will establish the lowest October close for Tokyo.
Ubi maior minor cessat
  • #724
  • Oct 7, 2016 1:59am Oct 7, 2016 1:59am
Quoting Dr.Phoenix
Hello, Lock, Guys So, the only week hands have been trading last days; they were completely whiped out. This Black Swan Event was expected. But many believed it would not be. Now the situations stay the same - week hends are operational. I do know if market can go even lower, but, IMO, BBs are ready to get in. Best D.P.
Hello Dr.Phoenix, weak hands below are no more: we have now a multitude of weak hands above to punish. If market will continue lower they could pile on it. Then....

Quoting giveachance
{quote} until now BOE has not said a word about flash crash which makes me worried. I suspect it was a bad finger but I am sure he will come back again to hammer the pound to 1.18. if 1.14 was the low registered by reuters I think we have the lows for decade now.
Hello giveachance,
yes, a lot of silence for now... A little scaring to be honest.

Best L.
Ubi maior minor cessat
  • #725
  • Oct 7, 2016 2:02am Oct 7, 2016 2:02am
So D closed inside C. Poor low. If it will fail below, then up to 2450. If it will fail above, back to the POC 2432 and the poor low.
Ubi maior minor cessat
  • #726
  • Oct 7, 2016 2:05am Oct 7, 2016 2:05am
11:04 +1GMT
Downside we have the Tokyo weak low at 2350: anyhow we are very close to the POC 2432, so I wil not be surprised if price will simply remain around here untill big news at 14:30 +1GMT. Maybe with some further test above and below without meningfull continuation. Let's see.
Ubi maior minor cessat
  • #727
  • Oct 7, 2016 2:10am Oct 7, 2016 2:10am
Quoting Lock
10:51 +1GMT Yes weak hands ruling as always in the last weeks. C D periods poor low at 24245. D period weak high at round 2450. 10:55 +1GMT D for now could be considered as inside bar of C. If it will remain so up to E open we could have a break. Note that D is the last bar for Tokyo. So its close will establish the lowest October close for Tokyo.
Note that Tokyo close(2433) was just 1 single pip above the closest composite POC at 2432. Clearly not a sign of conviction in either directions.
Ubi maior minor cessat
  • #728
  • Oct 7, 2016 2:16am Oct 7, 2016 2:16am
Quoting Lock
10:51 +1GMT Yes weak hands ruling as always in the last weeks. C D periods poor low at 24245. D period weak high at round 2450. 10:55 +1GMT D for now could be considered as inside bar of C. If it will remain so up to E open we could have a break. Note that D is the last bar for Tokyo. So its close will establish the lowest October close for Tokyo.
11:15 +1GMT
So it's breaking below D balance as expected (the break was expected not the direction, as written) Monitor for continuation. We are now at Tokyo open 23875. For continuation we would like to see price accepted below it.
I forgot that D period high was also at 2451 half back. So a double weakness there. Carry this information forward.
Ubi maior minor cessat
  • #729
  • Oct 7, 2016 2:33am Oct 7, 2016 2:33am
my feeling is the sellers are coming back again to hammer the pound. we will see sub 1.22 today. if not we have a bottom at 1.20 in place
  • #730
  • Oct 7, 2016 2:35am Oct 7, 2016 2:35am
11:35 +1GMT
If after the possible correction below Tokyo low at 2350 it will fail below it, back to the POC at 2432
Ubi maior minor cessat
  • #731
  • Oct 7, 2016 2:37am Oct 7, 2016 2:37am
Quoting giveachance
my feeling is the sellers are coming back again to hammer the pound. we will see sub 1.22 today. if not we have a bottom at 1.20 in place
Very possible. With the intention to force other weak hands and leggards in the trap.
Ubi maior minor cessat
  • #732
  • Oct 7, 2016 2:39am Oct 7, 2016 2:39am
Quoting Lock
11:04 +1GMT Downside we have the Tokyo weak low at 2350: anyhow we are very close to the POC 2432, so I wil not be surprised if price will simply remain around here untill big news at 14:30 +1GMT. Maybe with some further test above and below without meningfull continuation. Let's see.
11:39 +1GMT
2350 "tagged", now weaker than before. But do not forget where we come from.
Ubi maior minor cessat
  • #733
  • Oct 7, 2016 2:50am Oct 7, 2016 2:50am
Quoting Lock
{quote} 11:39 +1GMT 2350 "tagged", now weaker than before. But do not forget where we come from.
2350 taken out. Now for continuation we need acceptation below it ( at least a couple of period closed below this level). If not watch out for a correction up to the POC 2432. If there is continuation, note that the half back of the Sydney break is at round 2300.
Ubi maior minor cessat
  • #734
  • Oct 7, 2016 3:04am Oct 7, 2016 3:04am
in all probabilities we will not have a repeat of asian session with this latest fall. one reason for that being it is UK trading hours and BOE are working
  • #735
  • Oct 7, 2016 3:05am Oct 7, 2016 3:05am
Quoting Lock
{quote} 2350 taken out. Now for continuation we need acceptation below it ( at least a couple of period closed below this level). If not watch out for a correction up to the POC 2432. If there is continuation, note that the half back of the Sydney break is at round 2300.
12:05 +1GMT
Taken out and now let's see the reaction below it (if any). Note that GB already made 2 minus development at 23165-23715 and 2391-24255. Carry this info forward.

Note that current "hypothetical" pit session gap down is more than 300 pips right now.
Ubi maior minor cessat
  • #736
  • Oct 7, 2016 3:13am Oct 7, 2016 3:13am
Leggards piling on. GB 250 pips range. And you see the shake out... Back to 2300 Sydney half back. (at the pip)
Ubi maior minor cessat
  • #737
  • Oct 7, 2016 3:31am Oct 7, 2016 3:31am
Down 100, Up 100, ...

D.P.
Hunting High and Low
  • #738
  • Oct 7, 2016 4:19am Oct 7, 2016 4:19am
Quoting Lock
{quote} 12:05 +1GMT Taken out and now let's see the reaction below it (if any). Note that GB already made 2 minus development at 23165-23715 and 2391-24255. Carry this info forward. Note that current "hypothetical" pit session gap down is more than 300 pips right now.
So, the first minus development 23165-23715 has been corrected completely by H period that also retrace some pips of the second one at 2391-24255 up to 2397.

Quoting Dr.Phoenix
Down 100, Up 100, ... D.P.
I would say "normal" considering the environment but to be perfectly sincere it's scary. BTW I put the letter to 5 pips each in one chart and to 2 pips each in an other one, in order to have a bigger perspective of what is going on.
Ubi maior minor cessat
  • #739
  • Oct 7, 2016 4:22am Oct 7, 2016 4:22am
Note that now current GB session is a double distribution profile. So the last part of the upper minus development is fundamental in order to leave the current situation as it is now. If so we could have continuation downside. Anyhow, let's wait for preUS and its gap down.
Ubi maior minor cessat
  • #740
  • Oct 7, 2016 4:39am Oct 7, 2016 4:39am
13:39 +1GMT
I period is inside H so current J is an attempted breakout downside. If it will fail back to the poc at 24316/32.
Ubi maior minor cessat
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