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Lock's Cable Corner

  • #1,381
  • Oct 27, 2016 7:37am Oct 27, 2016 7:37am
Quoting Devart
{quote} This is, for me, the most stressfull type of trading. I suppose I will never do this kind of trading. A curiosity, in this type of trading there is a ratio (profit/loss) that is considered tollerable ? I mean, I have to gain 1 with the risk to loss 15 I suppose none will do this trade.
Like in any other form of trading I think the minimum acceptable is 1 to 3 (Risk over profit I mean). But Think about it: it is exactly the opposite of a stressfull type of trading: for instance, if you know a particular market is ruled by weak hands the only thing you have to do is nothing. Nothing at all. Only waiting for some opportunity observing a market. And observing a market could give you precise information about who is effectively ruling it.
Ubi maior minor cessat
  • #1,382
  • Oct 27, 2016 7:42am Oct 27, 2016 7:42am
Quoting Lock
{quote} Like in any other form of trading I think the minimum acceptable is 1 to 3 (Risk over profit I mean). But Think about it: it is exactly the opposite of a stressfull type of trading: for instance, if you know a particular market is ruled by weak hands the only thing you have to do is nothing. Nothing at all. Only waiting for some opportunity observing a market. And observing a market could give you precise information about who is effectively ruling it.
Yeah yeah and this what I will do for sure.
I tried to operate in a market like the one this month and never again.
Only stress and bad words for me.
As I told you some time ago it seems that market is hunting my SL...and this is what it is doing.
So I have understood the lesson -.-

Thank you for the lesson my friend

PS. this month sucks for me !!!
  • #1,383
  • Oct 27, 2016 7:50am Oct 27, 2016 7:50am
Quoting Devart
{quote} Yeah yeah and this what I will do for sure. I tried to operate in a market like the one this month and never again. Only stress and bad words for me. As I told you some time ago it seems that market is hunting my SL...and this is what it is doing. So I have understood the lesson -.- Thank you for the lesson my friend PS. this month sucks for me !!!

Don't worry about the losses: anyone here made errors and mistakes in the initial steps of this very difficult work. It will surely go better next month. Continue your learning process and follow this thread if you like for now. Best L.
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  • #1,384
  • Oct 27, 2016 7:51am Oct 27, 2016 7:51am
Quoting Lock
For instance: what weak hands are doing now? Or better, who is ruling this action? A period opened 1 single pip above yes unch. What did they do? They went below it 2 pips, they found nothing and now they are above yesterday high. To do what? To verify if there are buyers or sellers above that exact reference. What did they find? If they found sellers they will go again below unch in order to verify if ther they could find something new after the test above yes high, etc, etc, etc, ...
14:51 So, after the test above, they went below unch and they found sellers: and where are they now? Exactly at yesterday pit open 22173! Do you understand how they operate?

Recap:

  1. open above pit unchange
  2. test below unch: nothing
  3. back up above yes high: nothing
  4. back below unchanged: found sellers
  5. continue lower down to yes open

This is the normal behavior of day time frame traders. And btw what they are doing? They are retracing the weak hands of the previous GB session who left 2 anomalies downside showing all the weaknesses they were carrying higher...

How do I know this? look at the single pips of A and B periods...

And where are they pausing right now? Exactly at yesterday pit session low 2210!

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  • #1,385
  • Oct 27, 2016 7:59am Oct 27, 2016 7:59am
So if I'm going to ask you who is ruling this market, could you now give me a correct answer?
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  • #1,386
  • Oct 27, 2016 8:06am Oct 27, 2016 8:06am
15:06
So preUS session liquidated completely the GB session. C low is currently at GB low (2200 weak low made by GB period A) tagging it. It is weak right now. B period has a suspect minus development at 21175-2230. C high is exactly at yesterday pit session open 22173.

Also C is up and down the 22067 that is the half back of the move downside from 10.19. And is also up and down the remaining portion of yesterday pit session gap higher (22054-22105)

Question: do you see what I see?
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  • #1,387
  • Oct 27, 2016 8:12am Oct 27, 2016 8:12am
Quoting Lock
So if I'm going to ask you who is ruling this market, could you now give me a correct answer?
Still weak hands.

THe A TPO stopped at POC of euro session.
B stopped right one point below B period of pit session (yesterday).
C retraced to POC of asian (today) session and C arrived at low euro (today) session
  • #1,388
  • Oct 27, 2016 8:14am Oct 27, 2016 8:14am
Quoting Devart
{quote} Still weak hands. THe A TPO stopped at POC of euro session. B stopped right one point below B period of pit session (yesterday). C retraced to POC of asian (today) session and C arrived at low euro (today) session
Very good. This is the correct approach. Note that C stopped at yes pit open. Also at Tokyo poc but this is only a coincidence. The important ref for them is yes open.
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  • #1,389
  • Oct 27, 2016 8:16am Oct 27, 2016 8:16am
Quoting Lock
15:06 So preUS session liquidated completely the GB session. C low is currently at GB low (2200 weak low made by GB period A) tagging it. It is weak right now. B period has a suspect minus development at 21175-2230. C high is exactly at yesterday pit session open 22173. Also C is up and down the 22067 that is the half back of the move downside from 10.19. And is also up and down the remaining portion of yesterday pit session gap higher (22054-22105) Question: do you see what I see?
15:16 C high corrected and price back to the composite poc 2221 at the pip( a safe place for any weak hands here.) Also C is retracin the minus development. As normal.
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  • #1,390
  • Oct 27, 2016 8:18am Oct 27, 2016 8:18am
Lock, really like the way u draw out the picture. u gave me think yet still teaches me in a sublet way.

thankssss
  • #1,391
  • Oct 27, 2016 8:25am Oct 27, 2016 8:25am
A note about upcoming pit session.

Price is currently between the two last pit poc: they are both prominent. One is at 2229 (above), while the other one is at 22184 (below). Carry this information forward because generally prominent pocs tend to attract price action, specially if ruled by weak hands.

Note laso that the old gap upside from yesterday is also very near to the possible pit open. As it is very near the 22067 that is the half back of the move downside from 10.19: take also these info forward.

Also remember that we left upside 2 major weak references for pit session. I'm speaking about the 2 poor highs at 22737 and 2322.
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  • #1,392
  • Oct 27, 2016 8:31am Oct 27, 2016 8:31am
15:30+1GMT Pit session opens exactly at the comp poc 2221.

15:32 testing yes open...

15:36 Do you see the battle between yes open and today open? How many people do you think are able to see this? If you know this sort of things going on you have an edge against your competitors.

15:39 testing yes preUS open (2214)...
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  • #1,393
  • Oct 27, 2016 8:41am Oct 27, 2016 8:41am
Quoting Lock
15:06 ... And is also up and down the remaining portion of yesterday pit session gap higher (22054-22105) Question: do you see what I see?
15:41 Testing the low of yesterday pit session that is also the top of the gap...
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  • #1,394
  • Oct 27, 2016 8:46am Oct 27, 2016 8:46am
15:46 gap filled, now price at 22067 ( the half back of the move downside from 10.19)

Question: where is price coming from? Yesterday open and main composite poc...
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  • #1,395
  • Oct 27, 2016 8:52am Oct 27, 2016 8:52am
Yesterday session was a clear balance one: so consider the current move as an attempted break from its range. It could succeed and in this case we need acceptation below yesterday low (22103) for continuation downside. Or it could fail. In this last case the natural target is the opposite side of the balance (22486).
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  • #1,396
  • Oct 27, 2016 8:54am Oct 27, 2016 8:54am
Quoting Lock
{quote} Very good. This is the correct approach. Note that C stopped at yes pit open. Also at Tokyo poc but this is only a coincidence. The important ref for them is yes open.
Let me know please if I have understood well.

I consider the actual session refered to the previous one. Correct?

For example, with Euro session (today) I refer alwasy to POC, max, min of the previous euro session (yesterday) and not to 2-3 days ago. In the same time I do not consider POC, Max and min of other sessions.

The same for sydney and tokyo.
Instead if I am refering to Pre US or US I consider both. As above I consider only two on yesterday.

Correct?
  • #1,397
  • Oct 27, 2016 8:57am Oct 27, 2016 8:57am
Quoting Devart
{quote} Let me know please if I have understood well. I consider the actual session refered to the previous one. Correct? For example, with Euro session (today) I refer alwasy to POC, max, min of the previous euro session (yesterday) and not to 2-3 days ago. In the same time I do not consider POC, Max and min of other sessions. The same for sydney and tokyo. Instead if I am refering to Pre US or US I consider both. As above I consider only two on yesterday. Correct?
Yes. Overall correct. But consider that some sessions are partecipated by mixed traders. For instance in the current pit session untill 18:00+1GMT you also have GB traders. So it is a little more complicated. For some periods you have to consider more than the single last corresponding session. Specially during particular periods like the E one of pit session (it is the last one for London in fact)
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  • #1,398
  • Oct 27, 2016 9:00am Oct 27, 2016 9:00am
16:00 Some information here: A pit period is inside preUS C period. A pit period closed inside yes pit range. Current B period high is at current half back that is also yes preUS open 2214...

16:02 poor low A B periods.

Please note that for pit session partecipants (or at least for a big portion of them) the current GB low 21997 is the "overnight" low.
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  • #1,399
  • Oct 27, 2016 9:12am Oct 27, 2016 9:12am
16:12
Weak low of preUS session tagging the weak low of GB is no more: it is currently breaking from yesterday pit session (balance session as written) and is now at one of the poc underlined in a previous post. 22184 (the low one)
It is also removing the old weak GB refs from yesterday. See early morning report:

Quoting Lock
16/10/27 Thursday 07:59 +1GMT EARLY MORNING REPORT .....Most of the weak refs left below by yesterday pit session have been recovered by tonight Tokyo activity as written in the previous post but the weak C 21828 and D 2195 period lows from yesterday GB are still there. ....
Now both removed.
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  • #1,400
  • Oct 27, 2016 9:19am Oct 27, 2016 9:19am
Quoting Almo2312
{quote} BRILLIANT!!
Really? I didn't understand a thing.
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