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Lock's Cable Corner

  • #881
  • Oct 14, 2016 3:20am Oct 14, 2016 3:20am
Quoting Lock
{quote} 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.
How can you say that A and B were weak ?
  • #882
  • Oct 14, 2016 3:23am Oct 14, 2016 3:23am
I was trying +TPO-range !!!
Amusing, simple, fast and very helpfull.

Thank you
  • #883
  • Oct 14, 2016 3:25am Oct 14, 2016 3:25am
Quoting Devart
{quote} How can you say that A and B were weak ?
Because those were selling from exact references are weak hands. Major timeframes do not use such references to trade nor the could care less about them. So if a move start from and continue using weak references is a weak move: obviously it could last, but the important thing is to know who are your competitors in the market and to know which rules the used to trade.
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  • #884
  • Oct 14, 2016 3:25am Oct 14, 2016 3:25am
Quoting Devart
I was trying +TPO-range !!! Amusing, simple, fast and very helpfull. Thank you
You're welcome. But it is only a part of the game. Best L.
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  • #885
  • Oct 14, 2016 3:26am Oct 14, 2016 3:26am
in all probabilities gbp seems to be making a short term bottom.
  • #886
  • Oct 14, 2016 3:28am Oct 14, 2016 3:28am
Quoting Lock
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 for now? 10:14 2190 taken out, now C high weak at round 2200/ yesterday close price
10:28
All taken out. Do you understand the game played by weak hands?

clap clap clap..
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  • #887
  • Oct 14, 2016 3:30am Oct 14, 2016 3:30am
fishy today. this s&p news is nothing new and after this news gbp hit a bottom. seems to me weak hands are getting trapped on the short side or I may be wrong
  • #888
  • Oct 14, 2016 3:39am Oct 14, 2016 3:39am
Quoting giveachance
fishy today. this s&p news is nothing new and after this news gbp hit a bottom. seems to me weak hands are getting trapped on the short side or I may be wrong
Personally I do not trust so much the "all time" low made by Sydney. Generally a so important low is established by stronger partecipants like GB and US sessions, rarely Tokyo ones. Eventually, after a test of it it could trap all the weak hands selling in to this mess. But who know? Let this market develop and see what happens.

s&p news could be already "discounted" by current price level. If not, generally bigger timeframes need some days to react to a new structural event. So if this is a "new" news we could see some "strong" results maybe next week. But also in this case I'm only speculating on hypotheses.

Best L.
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  • #889
  • Oct 14, 2016 3:48am Oct 14, 2016 3:48am
Quoting Lock
{quote} 10:28 All taken out. Do you understand the game played by weak hands? clap clap clap..
is this due by scalpers ?
  • #890
  • Oct 14, 2016 3:53am Oct 14, 2016 3:53am
Quoting Devart
{quote} is this due by scalpers ?

No: day timeframe traders for the downwards move, slightly bigger timeframes for the correction of it.
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  • #891
  • Oct 14, 2016 3:54am Oct 14, 2016 3:54am
Current situation:

10:54 C high again at open price 2204. C low and D low at wednsday pit poor low 21804 and yesterday pit poor low 2185 respectively...
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  • #892
  • Oct 14, 2016 3:59am Oct 14, 2016 3:59am
Quoting Lock
Current situation: 10:54 C high again at open price 2204. C low and D low at wednsday pit poor low 21804 and yesterday pit poor low 2185 respectively...
Taken out. Now weak at yesterday GB unchanged 2213
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  • #893
  • Oct 14, 2016 4:01am Oct 14, 2016 4:01am
Quoting Lock
{quote} Taken out. Now weak at yesterday GB unchanged 2213
Taken out again. Now we got a poor high (C and E periods highs): very weak environment for now. It is trying to test yesterday high at 2218. But do not forget what we are leaving below.

10:02 E priod low at open price 2204 again.

As you see GB is up and down open price from start: this is one of the information this market is providing you. In fact going up and down open price is a clear sign of indecision and lack of conviction in any direction. Using only weak references to trade is an other sign of lack of partecipation of bigger timeframes.
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  • #894
  • Oct 14, 2016 4:09am Oct 14, 2016 4:09am
Please note that D period (the last for Tokyo session) is inside bar of C period: it means balance and possible breakout. Now E is trying to break above, if it will fail the natural target is at the opposit side of the balance (D low 21848)
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  • #895
  • Oct 14, 2016 4:10am Oct 14, 2016 4:10am
Quoting Lock
{quote} Taken out. Now weak at yesterday GB unchanged 2213
Right now there is the classic P profile that means that the UP movement is meeting some "issue".
Considering that for now the (london) VA of today is higher of yesterday and there is a big responsive buy tail in B period and the high of tokyo (CD) is a range extension and furthermore US session of yesterday has created value 2250 it can not be good to insert a buy stop order at 2220 ?
Now the london session seems ad Ledge...
What do you think ?

PS. STOP LOSS at 1.2116
Attached Image (click to enlarge)
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  • #896
  • Oct 14, 2016 4:12am Oct 14, 2016 4:12am
E period is testing above yesterday GB session range. For continuation upside we want to see price acceptation above 2218 (GB high from yesterday) if not, read previous post. Consider that E D and C period lows are all weak. So if it will continue higher it will short covering again.(at least initially)
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  • #897
  • Oct 14, 2016 4:14am Oct 14, 2016 4:14am
Quoting Devart
{quote} Right now there is the classic P profile that means that the UP movement is meeting some "issue". Considering that for now the (london) VA of today is higher of yesterday and there is a big responsive buy tail in B period and the high of tokyo (CD) is a range extension and furthermore US session of yesterday has created value 2250 it can not be good to insert a buy stop order at 2220 ? Now the london session seems ad Ledge... What do you think ? PS. STOP LOSS at 1.2116 {image}

If you wanted to buy this break the place for it was a couple of pips above D high (around 2216 breakeven) stops somewhere below it. It's a licit trade but, considering the origin of it, also a day time frame trade. If you are in, monitor for continuation.
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  • #898
  • Oct 14, 2016 4:16am Oct 14, 2016 4:16am
Quoting Lock
{quote} If you wanted to buy this break the place for it was a couple of pips above D high (breakeven) stops somewhere below it. It's a licit trade but, considering the origin of it, also a day time frame trade. If you are in, monitor for continuation.
Yep yep.
For today I am out, there will be yellen speech and this is a roulette
  • #899
  • Oct 14, 2016 4:26am Oct 14, 2016 4:26am
Quoting Devart
{quote} Yep yep. For today I am out, there will be yellen speech and this is a roulette
Yes: it is day timeframe trading clearly and short covering for now as you see. Stay tuned and observe the behavior of these partecipants if you like. It could be very interesting.
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  • #900
  • Oct 14, 2016 4:41am Oct 14, 2016 4:41am
Now it failed once above D period high and left a maybe a too big selling tale above. So let's see if it want to retest above yes GB high and eventually remove some of those pips. In any case, if the failure will be confirmed the natural target is at the opposite side of D balance. Note also that F low tagged again price open...
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