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Lock's Cable Corner

  • #961
  • Oct 17, 2016 8:31am Oct 17, 2016 8:31am
Pit session opens 3 pips below Friday pit session: a micro gap...and the 2171 friday poor low is automatically solved because it opened below it.
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  • #962
  • Oct 17, 2016 8:36am Oct 17, 2016 8:36am
Now it can do 2 things: find acceptation inside Friday pit session range (in that case we could have a full retracement of it) or a rejection from its range and in that case we are going to solve the 2135 weak zone.
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  • #963
  • Oct 17, 2016 9:06am Oct 17, 2016 9:06am
16:06 +1GMT
For now we have a rejection of Friday range but B period opened, tagged half back at 2163 and went down: weak environment.
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  • #964
  • Oct 17, 2016 9:24am Oct 17, 2016 9:24am
Quoting Lock
16:06 +1GMT For now we have a rejection of Friday range but B period opened, tagged half back at 2163 and went down: weak environment.
16:24
And in fact here we are again at 2163...tagged
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  • #965
  • Oct 17, 2016 9:31am Oct 17, 2016 9:31am
B and C highs are both weak at open price.(just 1 pip below 2165)
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  • #966
  • Oct 17, 2016 10:02am Oct 17, 2016 10:02am
C inside period of B. Possible break out from here. Weak above, weak below. Trend weekly and daily down. Value down.
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  • #967
  • Oct 17, 2016 10:06am Oct 17, 2016 10:06am
Quoting Lock
B and C highs are both weak at open price.(just 1 pip below 2165)

Both taken out: now is weak at friday low 2171. Also D low is wweak at round 2150.
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  • #968
  • Oct 17, 2016 10:09am Oct 17, 2016 10:09am
If you're long above C, you need acceptation inside Friday range now.
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  • #969
  • Oct 17, 2016 10:12am Oct 17, 2016 10:12am
Quoting Lock
Huge indecision here and lack of partecipation. Also G is an inside bar, this time of previous F. It spent 7 periods just to test the overnight low(2143 Sydney low) without even reach it. Note that all the GB profile structure is based (from period B onward) upon the B period high at old half back (2185): so it is a very poor structure going downside.
GB 2185 eventually taken out: GB weak structure is no more.
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  • #970
  • Oct 17, 2016 10:18am Oct 17, 2016 10:18am
Now watch out, for continuation upside as written previously we need acceptation above friday pit low at 2171. If not, remember that we came from round 2150 above a cluster of lows at 2135 zone and that the major trend is down. If it will fail inside Friday pit you know where is going to come back.
If instead we will find acceptation inside it, the weakness from Friday at round 2200 is pretty sure.
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  • #971
  • Oct 17, 2016 10:41am Oct 17, 2016 10:41am
17:41 +1GMT (edited 17:43:46)
Poor high made by D and E periods right below the composite poc at 2193. We are in the last period for London and we are exactly at Friday GB close 21877: who do you think is ruling this market?
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  • #972
  • Oct 17, 2016 10:51am Oct 17, 2016 10:51am
Quoting Lock
16 10 17 07:48 +1GMT (edited untill 08:11) EARLY MORNING REPORT .... Some note about Friday pit session is needed anyhow: as you probably remember the level 2200 is weak as it has been tagged by 2 periods high when it also was the half back of the session. ..... So friday technically closed short in the hole because the last price action took place below value and below the session poc starting from a weak reference ......
Quoting Lock
{quote} Friday late pit action took place below its value. Those who took part to this action were also starting fro half back/round number at 2200 level: so you have a combination of weak partecipants (those starting from a weak reference) and an action below value. Those shorts consequently could be considered "in the hole". ...
Quoting Lock
Now watch out, for continuation upside as written previously we need acceptation above friday pit low at 2171. If not, remember that we came from round 2150 above a cluster of lows at 2135 zone and that the major trend is down. If it will fail inside Friday pit you know where is going to come back. If instead we will find acceptation inside it, the weakness from Friday at round 2200 is pretty sure.
17:51 +1GMT
Weak sellers below 2200 level are no more. They were short in the hole, as written this early morning.

Now if we have continuation above it we could also make a test above the very weak 2261 preUS high from Friday (tagging the Tokyo session high of the same day)

Note anyhow that the composite POC at 2193 is always a big pole of attraction for weak hands. And we are in a weak marked controlled by weak hands.

Also remember the weak starting point of this short covering at round 2150 and the very weak cluster of lows at 2135 zone.

A chart from only some minutes ago that shows current situation:

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 95 KB
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  • #973
  • Edited 12:20pm Oct 17, 2016 12:08pm | Edited 12:20pm
Quoting Lock
{quote} {quote} {quote} 17:51 +1GMT Weak sellers below 2200 level are no more. They were short in the hole, as written this early morning. Now if we have continuation above it we could also make a test above the very weak 2261 preUS high from Friday (tagging the Tokyo session high of the same day) Note anyhow that the composite POC at 2193 is always a big pole of attraction for weak hands. And we are in a weak marked controlled by weak hands. Also remember the weak starting...

Hi Lock, I'm really impressed by your Market Profile analysing methode!
For sure.....I'm going to study the Market Profile in debth!!...Just as I did with the Harmonic Elliott Wave theory... also a long path. For me without trading with HEW is like trading naked, but it's to often that we just on the wrong leg....and noticing it just to late. It's a sort of oneway trading (but can be really powerfull!). Anyway if the structure you have is wrong you are burned...that's the disadvantage of HEW.
With the Market Profile following eg. J Dalton, you have different options and are "just" waiting untill value is where the best probability is. That sounds far more logical for me then just following a HEW structure and if wrong you see "error" on your screen

Anyway also the statement: "As traders we don't trade price, but we trade value" is maybe logical but for me an eyeopener!

Sometimes I have the feeling I'm the only one who is following you. Hope it's not true....!!! anyway I really hope you goes on with this thread because for me it's a real informative and a real learning thread! How things (can) develops...how things to combine etcetc!

Thanks!!
You can manage risk, but you can't manage the return
  • #974
  • Oct 17, 2016 12:20pm Oct 17, 2016 12:20pm
Quoting HappyMe
{quote} Hi Lock, I'm really impressed by you analysing methode! For sure.....I'm going to study the Market Profile in debth!!...Just as I did with the Harmonic Elliott Wave theory... also a long path. For me without trading with HEW is like trading naked, but it's to often that we just on the wrong leg....and noticing it just to late. It's a sort of oneway trading (but can be really powerfull!). Anyway if the structure you have is wrong you are burned...that's the disadvantage of HEW. With the Market Profile following eg. J Dalton, you have different...
Well, I'm very happy for your enthusiasm and I wish you all good during your path. Don't feel alone anyway: there are a lot of people trying to learn the same matter and this fact let me feel better about all my efforts here. You're welcome again and have a nice continuation! Best L.
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  • #975
  • Oct 17, 2016 12:23pm Oct 17, 2016 12:23pm
Now, today start with the assumption* that the main issue was the possible attempted breakout from daily balance. consequently I think it could be important to post a simple chart about current situation.

As you see price tested below friday balance and went back inside it. It's a failure or not? Maybe we have to wait untill close to know it.

*see early morning report.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 22 KB
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  • #976
  • Oct 17, 2016 1:30pm Oct 17, 2016 1:30pm
E, H, I and J periods cluster at 2200 level. It cannot resist like this but we are against trend and glued to the composite poc at 2193.

Note: also J inside period of I. Possible break from here. Perhaps a correction and then opposite direction. Let's see. If it will be serious we have space up to 2261 above and 2135 zone below.

Note also that current pit profile is a double distribution: lower distribution (2146-2134), higher distribution (2177-current high)
Value overlapping lower from Friday.
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  • #977
  • Oct 17, 2016 2:20pm Oct 17, 2016 2:20pm
Well, it's too weak for now and I'm too tired. I'm off. Have a nice continuation. Best L.
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  • #978
  • Edited 5:34pm Oct 17, 2016 2:35pm | Edited 5:34pm
Quoting Lock
{quote} {quote} {quote} 17:51 +1GMT Weak sellers below 2200 level are no more. They were short in the hole, as written this early morning. Now if we have continuation above it we could also make a test above the very weak 2261 preUS high from Friday (tagging the Tokyo session high of the same day) Note anyhow that the composite POC at 2193 is always a big pole of attraction for weak hands. And we are in a weak marked controlled by weak hands. Also remember the weak starting...
Ciao Lock,
a question...what tool do you use to indicate a line per each level of interest?
I mean:
TokyoUp 2015.10-14 .PH???. ecc ecc
US PIT High 2016

Now I write and I draw line but in this way I will became a new Picasso and not a trader , instead to use a tool like yours will help me to save a quantity of time that will be huge.

Thank you
  • #979
  • Oct 17, 2016 8:03pm Oct 17, 2016 8:03pm
Attached Image (click to enlarge)
Click to Enlarge Name: Ensign-98.png Size: 62 KB
  • #980
  • Oct 18, 2016 2:27am Oct 18, 2016 2:27am
Quoting Devart
{quote} Ciao Lock, a question...what tool do you use to indicate a line per each level of interest? I mean: TokyoUp 2015.10-14 .PH???. ecc ecc US PIT High 2016 Now I write and I draw line but in this way I will became a new Picasso and not a trader , instead to use a tool like yours will help me to save a quantity of time that will be huge. Thank you
Hi Devart, I use simple single scripts to create those refs. I'll provide you asap.
Best L.
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