Lock's Cable Corner | Page 44 | 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

  • #861
  • Oct 13, 2016 10:28am Oct 13, 2016 10:28am
Still balancing up and down open price. It did this all day long. During any session starting with Tokyo. Now it looks like totally weak without any meaningfull partecipation by higher timeframes. It's too risky. I'm off for a while. Have a good continuation. Best L.

PS: I repeat it here that if it will break above without correcting the back to back poor lows it will be surely short covering.
Ubi maior minor cessat
  • #862
  • Oct 13, 2016 11:08am Oct 13, 2016 11:08am
Quoting Lock
As you see this market is a mess, totally "controlled" by weak hands: so my only suggestion is to let this market shake out before to be involved in it.
Still furiously balancing, mercilessly catching weak hands stops. Again the poor lows are still there below.
Ubi maior minor cessat
  • #863
  • Oct 13, 2016 11:54am Oct 13, 2016 11:54am
Quoting Lock
14:36 +1GMT PreUS opened inside yesterday pit session range (21805-2259) and started to correct some weak GB inventories too long. It is expected initial acceptation of yesterday range and eventually tests above and/or below it.....
Quoting Lock
IMPORTANT NOTE: Remember that yesterday pit session was an inside session, meaning that its range was inside the pit session range of the day before. So, if upcoming pit session will attempt above and/or below yesterday range (21805-2259) we will have an attempted breakout.
After 3 hours and a half (initial acceptation of yesterday range) here is the first test of yesterday range high at 2259, for now only tagged. So it is now weak. But below we have 2 back to back poor lows: so it is not clear what it can happen here.

Remember that yesterday pit session was inside the day before session range, consequently any attempt above or below yesterday range is an attempted breakout: if it will happen, monitor for continuation and if it will fail in one direction, consider that the natural target after a failure from balance is the opposite side of that balance.
Ubi maior minor cessat
  • #864
  • Oct 13, 2016 12:29pm Oct 13, 2016 12:29pm
19:29 +1GMT (editeed up to 30)
Attempted breakout above yesterday pit session range high at 2259. Note that this move started as short covering and left below 2 back to back poor lows at at 2185 and 21804. So if it will fail, you know where it could go eventually... If instead it will succeed we are plenty of targets above, up to 2450 level.
Ubi maior minor cessat
  • #865
  • Oct 13, 2016 12:39pm Oct 13, 2016 12:39pm
Note that we are at 2256 that is also the nearest composite POC around here. So it will attract price and could induce balance before continuation or rejection.
Ubi maior minor cessat
  • #866
  • Oct 14, 2016 12:19am Oct 14, 2016 12:19am
16 10 14 07:19 +1GMT
EARLY MORNING REPORT

Quoting Lock
....Remember that yesterday pit session was inside the day before session range, consequently any attempt above or below yesterday range is an attempted breakout: if it will happen, monitor for continuation and if it will fail in one direction, consider that the natural target after a failure from balance is the opposite side of that balance.
Quoting Lock
19:29 +1GMT (editeed up to 30) Attempted breakout above yesterday pit session range high at 2259. Note that this move started as short covering and left below 2 back to back poor lows at at 2185 and 21804. So if it will fail, you know where it could go eventually... If instead it will succeed we are plenty of targets above, up to 2450 level.
As you see, after the failure above 2259 (also retested by Tokyo session) price is now at the opposite side of the balance. Exactly at 2193 (biggest composite POC here downside) and only some pips above the two back to back pit poor lows at at 2185 and 21804. And this is very notmal.

Now if you look at the daily chart, you will see Today (Friday), inside yesterday(Thursday), inside Wednsday, inside Tuesday: It's an amazing and, let me say it, very rare balance environment that should lead to a breakout. And this is the main info.

Also today is full of news and it's the day of this:

"The transformation of the money-fund industry, where investors turn to park cash, is a result of regulators’ efforts to make the financial system safer in the aftermath of the credit crisis. The key date is Oct. 14, when rules take effect mandating that institutional prime and..."

So, again, my suggestion is only one, for now: watch out because it could be very difficult today.
Ubi maior minor cessat
  • #867
  • Oct 14, 2016 12:41am Oct 14, 2016 12:41am
Quoting Lock
16 10 14 07:19 +1GMT EARLY MORNING REPORT .... and only some pips above the two back to back pit poor lows at at 2185 and 21804......
07:41 +1GMT
2185 tagged at the pip by Tokyo: game over for the opposite side of the balance game. Now we have the pole of attraction of the composite POC at 2193. Let's see GB session. Obviously the two back to back poor lows are still not corrected: a correction of them could occur only during a pit session or if GB and preUS will make a gap downside untill pit session open.

PS: just to know if what I'm writing is understood by readers, please like my posts in that case.
Ubi maior minor cessat
  • #868
  • Oct 14, 2016 1:33am Oct 14, 2016 1:33am
Hi Lock..
I have been "lurking" for a while.. addicted to your insight and analysis and just had to sign up. Good work.
Learning to understand Market Profile at the moment, quite a game changer for me.

HD
  • #869
  • Oct 14, 2016 1:57am Oct 14, 2016 1:57am
08:57 +1GMT
Price is now near the top of yesterday GB session range (2132-2218): if upcoming GB session will open inside it we could expect initial acceptation of yesterday range and eventually tests above and/or below it. With 2193 composite POC as the main pole of attraction during session.
Ubi maior minor cessat
  • #870
  • Edited 2:16am Oct 14, 2016 2:02am | Edited 2:16am
09:02 immediately, yesterday unch tagged at 2213

09:06 Back to open 2204: weak hands for now. Normal tests.

09:10 A period weak high at yesterday unchanged 2213 and weak low at round 2200 (also yesterday pit open)**

**2200 is also yesterday GB close
Ubi maior minor cessat
  • #871
  • Oct 14, 2016 2:13am Oct 14, 2016 2:13am
Hello Lock,
what do you think... Do you are more up or down ?
  • #872
  • Oct 14, 2016 2:21am Oct 14, 2016 2:21am
Quoting Devart
Hello Lock, what do you think... Do you are more up or down ?
Hi Devart,

For now I'm neutral. I see the two pit poor lows from yesterday and Wednsday that clearly need a correction. This could be done by upcoming pit session (after 15:30+1GMT) or before that time by a substantial move downside allowing a gap down for upcoming pit (in this case the pit session will open below those poor lows that will be automatically corrected)**

We are in a balance daily so the rule is: go with the break out and monitor for continuation. If it will fail go to the opposite side of the balance.

I suggest anyone to be not so anxious to trade in a day like this.

**other possibilities (not so probable for me) are: remaining in balance above those poor lows leaving the correction to next week or make a very big move upside with a gap above yesterday pit session high: in this last case if the gap will resist we could skip those poor lows at least for some time.
Ubi maior minor cessat
  • #873
  • Oct 14, 2016 2:23am Oct 14, 2016 2:23am
Considering the VA of S, T and now London it seems that the trend is down.
We are opening in the previous daily range near the top with not so strong selling tails (yesterday london, that has also a stronger buy tails at 2132.
Most at all tha US VA is always higher and we have an area 2340-2314 where US session is not passed and could be tested.
We are also testing the resistence of resistence and we have an another one upper that if broken could move the market again at 2470
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled 57.jpg Size: 652 KB
Click to Enlarge Name: Untitled 58.jpg Size: 633 KB
  • #874
  • Oct 14, 2016 2:24am Oct 14, 2016 2:24am
Hello Lock,

I'm just touching the Market Profile Graphic now...I'm very interested in this. Just wanted to let you know that I'm following your thread very closely.

It's very informative to see how you are reading the Market Profile Graphic!!

Keep up the good work!!
You can manage risk, but you can't manage the return
  • #875
  • Oct 14, 2016 2:37am Oct 14, 2016 2:37am
Quoting HappyMe
Hello Lock, I'm just touching the Market Profile Graphic now...I'm very interested in this. Just wanted to let you know that I'm following your thread very closely. It's very informative to see how you are reading the Market Profile Graphic!! Keep up the good work!!
Thank you very much for your compliments. You're welcome!
Ubi maior minor cessat
  • #876
  • Oct 14, 2016 2:41am Oct 14, 2016 2:41am
Quoting Devart
Considering the VA of S, T and now London it seems that the trend is down. We are opening in the previous daily range near the top with not so strong selling tails (yesterday london, that has also a stronger buy tails at 2132. Most at all tha US VA is always higher and we have an area 2340-2314 where US session is not passed and could be tested. We are also testing the resistence of resistence and we have an another one upper that if broken could move the market again at 2470 {image} {image}
Good analysis. We are in weekly/daily trend down. As GB sessions, are in balance right now. Inside yesterday GB range. Now take this market a piece at a time:

A period high is at yesterday GB unchanged 2213 and B period high is at open price and half back 2204. And we are exactly at composite POC
Ubi maior minor cessat
  • #877
  • Oct 14, 2016 2:45am Oct 14, 2016 2:45am
Now,
09:45 The cluster at 21848 is clearly extraordinary weak, but do not forget that A and B period highs are both weak.
Ubi maior minor cessat
  • #878
  • Oct 14, 2016 2:49am Oct 14, 2016 2:49am
Quoting Lock
Now, 09:45 The cluster at 21848 is clearly extraordinary weak, but do not forget that A and B period highs are both weak.
Please, let me know if you are following this chat with interest, liking the posts you understand and subscribing me and this thread. Thank you very much for your partecipation.
Ubi maior minor cessat
  • #879
  • Oct 14, 2016 2:52am Oct 14, 2016 2:52am
Quoting Lock
19:29 +1GMT (editeed up to 30) Attempted breakout above yesterday pit session range high at 2259. Note that this move started as short covering and left below 2 back to back poor lows at at 2185 and 21804. So if it will fail, you know where it could go eventually... If instead it will succeed we are plenty of targets above, up to 2450 level.
2185 and 21804 target reached: but consider that this has been made by a GB session. In order to consider these poor lows corrected we need to remain below them up to next pit session building a gap downside.
Ubi maior minor cessat
  • #880
  • Edited 3:15am Oct 14, 2016 2:58am | Edited 3:15am
09:57 A lot of single pips for B period. Very close to the comp. POC 2193

10:00 C period high at current half back 2190. So now we have: A period high is at yesterday GB unchanged 2213 and B period high is at open price and half back 2204 and C period high at half back 2190. Ask yourself: is this strong or weak partecipation forn now?

10:14 2190 taken out, now C high weak at round 2200/ yesterday close price
Ubi maior minor cessat
3 traders viewing now