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Lock's Cable Corner

  • #1,461
  • Nov 1, 2016 3:39am Nov 1, 2016 3:39am
09:39+1GMT

Note the B period high at current half back 2267 and it made a poor low tagging A period low at 22537: they are both exact references, meaning weak participants to current market.
Note also that A action upside (remember the note about "a lot of single pips") has been totally retraced by itself and B period:

Quoting Lock
{quote} 09:28 .... About current attempt note also that GB period A and the last P period for Tokyo are both very elongated with a lot of single pips in them: meaning amotion and weak hands playing there.
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  • #1,462
  • Nov 1, 2016 3:59am Nov 1, 2016 3:59am
Quoting Lock
{quote} 09:28 Note that GB is currently testing the top of the last week at 22714: as written in the early morning report this is the first important reference to verify the possibility to continue higher up to the top of the weekly balance at 24437. About current attempt note also that GB period A and the last P period for Tokyo are both very elongated with a lot of single pips in them: meaning amotion and weak hands playing there.

09:59+1GMT both the last P eriod of Tokyo and the first A period of GB have been retraced almost completely.
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  • #1,463
  • Nov 1, 2016 4:04am Nov 1, 2016 4:04am
Quoting Lock
16:27+1GMT The current situation in a chart. {image}
whoa
  • #1,464
  • Nov 1, 2016 4:09am Nov 1, 2016 4:09am
10:09+1GMT note C period high at open price 22552. Still weak hands playing here.
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  • #1,465
  • Nov 1, 2016 4:32am Nov 1, 2016 4:32am
10:32+1GMT C inside period of B: possible break from here.
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  • #1,466
  • Nov 1, 2016 7:11am Nov 1, 2016 7:11am
13:11+1GMT
PreUS opened inside yesterday pit session range value (22485-2143). Initial acceptation of it and eventually test above and / or below it expected. Note also the the preUS open is exactly the main composite poc 2233. Possible zone of interest for US sessions is the yesterday pit minus development at 2178-21996.(below)

Instead above we got the two old poor highs to correct. (2274 and 23218) Let's see.
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  • #1,467
  • Nov 1, 2016 7:25am Nov 1, 2016 7:25am
13:25 First test below overnight low (Tokyo low at 2210) Note that A period bounced at 22066 that as written many times is the half back of the move downside from 10.19 high to 10.25 low. Note a lot of single pips for A.
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  • #1,468
  • Nov 1, 2016 7:42am Nov 1, 2016 7:42am
Quoting Lock
13:25 First test below overnight low (Tokyo low at 2210) Note that A period bounced at 22066 that as written many times is the half back of the move downside from 10.19 high to 10.25 low. Note a lot of single pips for A.
13:42 A period single pips downside retraced for almost 70%.
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  • #1,469
  • Nov 1, 2016 8:04am Nov 1, 2016 8:04am
14:04 B inside period of A, break above B and back to the composite poc/open price. C low is weak at current half back 22196. (note A period retraced 100%)
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  • #1,470
  • Nov 1, 2016 10:58am Nov 1, 2016 10:58am
16:58+1GMT Us pit C period made the first test above yesterday pit high at 22485 and failed.
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  • #1,471
  • Edited 11:45am Nov 1, 2016 11:10am | Edited 11:45am
On my chart the Euro session only prints to H. On the charts you post I and J print in this session. Is this because I have my chart set for the London open currently 8:00 am GMT and an hour behind Italy? Does this matter? Or is something else going on?

What does "UpdateInterval" refer to?

Thanks for any help.
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  • #1,472
  • Nov 1, 2016 11:26am Nov 1, 2016 11:26am
17:26 +1GMT Note that USDX is breaking down from yesterday inside pit session. It has a gap downside that overlap a previous gap upside creating an island reversal.
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  • #1,473
  • Nov 1, 2016 11:31am Nov 1, 2016 11:31am
Quoting Lock
17:26 +1GMT Note that USDX is breaking down from yesterday inside pit session. It has a gap downside that overlap a previous gap upside creating an island reversal.

What is this mean in terms of moves?!

When it is moving down now...and is creating an island reversal then we could expect an up-move in the near future.....(in the USDX) ...or?!

Sometimes I really confused in what you see and what you mean/write....
You can manage risk, but you can't manage the return
  • #1,474
  • Edited 11:53am Nov 1, 2016 11:42am | Edited 11:53am
Quoting Zaak
On my chart the Euro session only prints to H. On the charts you post I and J print in this session. Is this because I have my chart set for the London open currently 8:00 am GMT and an hour behind Italy? Does this matter? Or is something else going on? What does "UpdateInterval" refer to? Also, I loaded GB and US indicators but they are not showing on my chart? Thanks for any help. {image} {image}
The settings I attached previously were for GMT+2 (where my server is, not in Italy)

I attach here the settings for GB (GMT). Best L.

NOTE: attached settings are a temporary solution for those who has servers <GMT3. As you see the settings are switched meaning that the Sydney time setting is in reality Asia setting, as Asia is Europe and so on. It's a technical issue so take it as it is for now. Watch this post for further explanations please.

GB new DST
Attached Image

GB old DST
Attached Image
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  • #1,475
  • Nov 1, 2016 11:46am Nov 1, 2016 11:46am
Quoting HappyMe
{quote} What is this mean in terms of moves?! When it is moving down now...and is creating an island reversal then we could expect an up-move in the near future.....(in the USDX) ...or?! Sometimes I really confused in what you see and what you mean/write....
It has not to be e sure correlation between them but currently USDX managed to remove the space between the 2 previous separate daily distributions. This means that the recent uptrend found a first important stop here. "Consequently" we could expect something in cable going in the opposite direction (upside). But it is only 1 data point and sometime the correlation could miserably fail. So watch out. Also the fact that USDX united the 2 distributions does not mean necessary that the uptrend is over. Surely it means it is aging.
Best L.

PS: the island reversal as the name suggests could be an important signal for a reversal of a trend.
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  • #1,476
  • Nov 1, 2016 11:59am Nov 1, 2016 11:59am
17:59 +1GMT
second attempt above yesterday pit high. Note that we got a poor low at 22136 as now we currently have a poor high at 22523. If it will continue higher from here remember the 2 old poor high left above at 2274 and 23218.
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  • #1,477
  • Nov 1, 2016 12:07pm Nov 1, 2016 12:07pm
18:06 considering current volatility I need to focus an market so I'll be off the thread untill it will be quite.
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  • #1,478
  • Nov 1, 2016 12:57pm Nov 1, 2016 12:57pm
18:57+1GMT A very mature profile is forming daily. Its poc is exactly at 2233. All GB and US sessions activity rotated around it up and down. All the us pit periods went at preUS open (exactly at 2233 main composite poc): huge indecision here. Note the following reference above anyway:

 

  1. GB B period high at initial half back 22676: untested.
  2. GB periods C and D highs at Tokyo high 22585: untested.
  3. GB period E and G highs at GB open 22553: untested.
  4. pit US periods G and H just a couple of pips below previous one: poor high* and untested.
  5. previous pit US poor high at 2274*
  6. previous GB poor high at 2285
  7. previous Tokyo poor high at 2298
  8. previous pit US poor high at 23218*


*Note also that we have 3 pit US poor highs in a row. Very weak.

Considering the overall situation we could not be sure about what it is going on because also downside we have a lot of weaknesses left untested. But for now the weaknesses above are clearly more significant than those downside. Let's see what this market will take as its priority.

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  • #1,479
  • Nov 1, 2016 1:02pm Nov 1, 2016 1:02pm
19:02+1GMT Note H inside G and I inside H: possible break here, above and / or below. Watch out.
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  • #1,480
  • Nov 1, 2016 1:43pm Nov 1, 2016 1:43pm
19:43+1GMT
The attempted breakout above I period inside H inside G is for now very uncertain going up and down breakeven ("I" period high). I also noticed that for now we have no acceptation above yesterday pit session high at 22485. In fact we do not have any current pit session's period closed above that level. Also current pit value is clearly inside yesterday pit value and cannot move from here anymore for today. Anyway let's see.

Also note that J period low ia again at preUS open/main composite poc...
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