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Lock's Cable Corner

  • #1,181
  • Oct 24, 2016 2:40am Oct 24, 2016 2:40am
Quoting Lock
09:28 this is a short covering: if it works we will see a correction above up to 2285 at least. If not back to the composite poc below at 2192. We need acceptation above Tokyo high for any meaningfull continuation upside: note that we have big weaknesses below. So remember: if it will continue it will short covering and nothing more, at least initially.
You call it Short-Covering.... I think this is because of the weakness above... or?
Further...why you mention the 2285 as reference? I can't see here any bar start/end POC or watherver around this level....? What do I miss here?
You can manage risk, but you can't manage the return
  • #1,182
  • Oct 24, 2016 2:42am Oct 24, 2016 2:42am
Quoting HappyMe
{quote} You call it Short-Covering.... I think this is because of the weakness above... or? Further...why you mention the 2285 as reference? I can't see here any bar start/end POC or watherver around this level....? What do I miss here?
2285 is Thursday 10.20 GB session poor high. It is short covering because all the references used below to come upside are weak. As are weak the references to correct above. Best L.
Ubi maior minor cessat
  • #1,183
  • Oct 24, 2016 2:56am Oct 24, 2016 2:56am
09:56 +1GMT Friday GB poor high tagged at the pip 2248. Automatic weak sellers there. Note the GB gap downside from Friday still in place for less than 2 pips now...
Ubi maior minor cessat
  • #1,184
  • Oct 24, 2016 3:04am Oct 24, 2016 3:04am
Note that if you are buying this short covering your weak structural SL should be below Friday spike base at 2220. If we will have acceptation above today Tokyo high 2234 we could eventually move the stops below it. But watch out, it is a very very weak environment: if bigger timeframes will step in it will be a massacre in a moment.
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  • #1,185
  • Oct 24, 2016 3:16am Oct 24, 2016 3:16am
Quoting Lock
Note that if you are buying this short covering your weak structural SL should be below Friday spike base at 2220. If we will have acceptation above today Tokyo high 2234 we could eventually move the stops below it. But watch out, it is a very very weak environment: if bigger timeframes will step in it will be a massacre in a moment.
Why exactly at the base of the friday spike?
Could not be better below the Gp session of today?
It seems an open drive session (with weak highs up) and VA Moving up
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  • #1,186
  • Oct 24, 2016 3:27am Oct 24, 2016 3:27am
Quoting Devart
{quote} Why exactly at the base of the friday spike? Could not be better below the Gp session of today? It seems an open drive session (with weak highs up) and VA Moving up {image} {image}
It is in any case a weak structural place. Everything downside is weak down to the Friday poor low at 21707. This session is not at all an open drive session. It spent a huge amount of time at open price going up and down it. An open drive as the name suggests mean: open and drive away from open. This was not the case as you see.
Ubi maior minor cessat
  • #1,187
  • Oct 24, 2016 3:31am Oct 24, 2016 3:31am
Quoting Lock
09:35 +1GMT B low at Friday unchanged at the pip. A and B periods made a new poor high: We have 3 GB poor highs for the lat 3 sessions.
10:31 +1GMT
B low taken out as it was too weak. Note that this correction downside started at Friday GB session poor high: so it is clearly very weak.
Ubi maior minor cessat
  • #1,188
  • Oct 24, 2016 3:38am Oct 24, 2016 3:38am
10:38 +1GMT Current period D is the last one for Tokyo: and where are we now? Exactly at Friday Tokyo close 22275 !
Ubi maior minor cessat
  • #1,189
  • Oct 24, 2016 3:41am Oct 24, 2016 3:41am
Quoting Lock
10:38 +1GMT Current period D is the last one for Tokyo: and where are we now? Exactly at Friday Tokyo close 22275 !
Hi mate,like your corner,very smart trader as well

Cheers

Al.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #1,190
  • Oct 24, 2016 3:41am Oct 24, 2016 3:41am
10:41 D low is at today GB open 2224! Incredibly weak environment again.
Ubi maior minor cessat
  • #1,191
  • Oct 24, 2016 3:43am Oct 24, 2016 3:43am
Quoting Almo2312
{quote} Hi mate,like your corner,very smart trader as well Cheers Al.
Thank you very much indeed for your compliments. You're welcome!
Ubi maior minor cessat
  • #1,192
  • Oct 24, 2016 3:50am Oct 24, 2016 3:50am
10:50 Current fierce battle is between open price and half back: just to underline who are your competitors in this market. And please note that half back is currently also Tokyo high....
Ubi maior minor cessat
  • #1,193
  • Oct 24, 2016 4:00am Oct 24, 2016 4:00am
11:00 horrendously weak downside but we got acceptation above Tokyo high: 2 periods closed above it..
Tokyo btw closed 3 pips above Friday Tokyo high just to say how weak is this market an other time...
Ubi maior minor cessat
  • #1,194
  • Oct 24, 2016 4:07am Oct 24, 2016 4:07am
11:04 E low at half back/Tokyo high....
Downside we have:

  1. E low at half back 22338
  2. D low at open 2224
  3. A low at spike base 2220

This does not mean it cannot continue higher: but carry this information forward. If we finally remove some weakness above these references below will be helpfull in the future.

Ubi maior minor cessat
  • #1,195
  • Oct 24, 2016 4:13am Oct 24, 2016 4:13am
11:13 B&E poor high tagging Friday GB poor high! Exponential odds to remove this.
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  • #1,196
  • Oct 24, 2016 4:22am Oct 24, 2016 4:22am
11:20 Watch out above the old gap downside from Friday. Above it we could find automatic buyers but also automatic sellers. And we are in a very weak environment. If we have buyers above it, the next target upside is the Sydney poor high at 22597, then the other GB poor high at 2285. But I repeat it: watch out if 22505 will be taken out and you will not find acceptation above it!

NOTE: Extraordinary tiny range for GB session after almost 5 periods: it could unfold from here.
Ubi maior minor cessat
  • #1,197
  • Oct 24, 2016 4:35am Oct 24, 2016 4:35am
11:34 F period low at Tokyo close 22375: it's a real mess for now.
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  • #1,198
  • Oct 24, 2016 4:46am Oct 24, 2016 4:46am
11:46 Please note that 22512 is the half back of the current minor daily bracket (from 01.19 high to Friday 10.21 low): so this is an other reason to be prudent above the old GB gap downside, if retraced.
Ubi maior minor cessat
  • #1,199
  • Oct 24, 2016 4:48am Oct 24, 2016 4:48am
Quoting Lock
11:34 F period low at Tokyo close 22375: it's a real mess for now.
Removed but now F period low is again at half back/Tokyo high 22338 already tagged by E period low...SO it is even weaker than before.
Ubi maior minor cessat
  • #1,200
  • Oct 24, 2016 5:00am Oct 24, 2016 5:00am
12:00 F inside bar of E: watch out for a possible break. (above and/or below)
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