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Lock's Cable Corner

  • #1,481
  • Nov 1, 2016 12:04pm Nov 1, 2016 12:04pm
20:04+1GMT K period inside J. K low at half back. An other possible break from here. But watch out because this market is very weak in both directions as previously written.

Note that pit session action is in one timeframing higher mode from F period low.
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  • #1,482
  • Nov 1, 2016 12:35pm Nov 1, 2016 12:35pm
20:35+1GMT last post for the day. H I L and M periods' lows all at preUS+pitUS half back (2229). J K and L period's highs at round number 2250. Price spent here more than 24 hours. Prominent poc very difficult to evade without volume. Poor high and poor low for current pit session. Very narrow range. (only 40 pips) Have a nice continuation. Best L.
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  • #1,483
  • Nov 1, 2016 12:41pm Nov 1, 2016 12:41pm
I'm more confused about the time settings than ever. I've tried to work it out but can't make sense of it from previous posts. When my server is 23:00, GMT is 20:00.
  • #1,484
  • Nov 1, 2016 10:50pm Nov 1, 2016 10:50pm
Quoting Zaak
I'm more confused about the time settings than ever. I've tried to work it out but can't make sense of it from previous posts. When my server is 23:00, GMT is 20:00.
Hi Zaak, because you live in GB if your time is 20:00 and your server is 23:00, it means that your server is GMT+3: correct?
So your TPO tool has to be configured for GMT+3 and not for GB time. I attach here the correct config for GMT+3 (old DST before 10.30 and new DST after 10.30)

old DST GMT+3:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 35 KB

new DST GMT +3(the arrows in the image are only to let you understend the switch I made for sessions):
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 60 KB


So, you will have two chart if you want: on the left one you will put the TPO tool with the old DST set in order to visualize all the profiles untill Friday 10.28, while on the right chart you will put the TPO tool with the new DST settings in order to visualize all the profile from Monday 10.31.
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  • #1,485
  • Edited 11:26pm Nov 1, 2016 11:14pm | Edited 11:26pm
16/11/02 WEDNSDAY 07:14+1GMT (edit untill 07:23)
EARLY MORNING REPORT

For those who follows Market Generated Information (MGI) yesterday pit session profile's shape should not be a mistery. After open in fact all the periods of the session went upon open price at least once, meaning total lack of conviction in any direction and a complete lack of participation of bigger timeframes. Olso, when a session opens inside the previous session range (meaning: in a balance condition) the expectations should be less than those in a situation in which the new session opens above or below the previous session range (meaning: out of balance).
So yesterday MGI were very helpfull in order to limit our expectations about the possibility of a consistent move above or below open price.

Now, all the weak references left in the last days above and below current price position are still intact. The important thing to know for today GB action will be the open position relating with yesterday GB spike downside (base at 22388): if open will be below it, we could consider this simple fact as an initial acceptation of the benchmark made downside by this spike, while if above it we could consider this as a sign of initial rejection of that test downside.

A very important reference for today will be clearly the main composite poc at 2233 that is attracting price for the last 36 hours and more. In order to evade it we need volume. Consider that if price will eventually manage to evade it we could experience a sharp directional move.

A further element to consider is the double pass GB gap at 2193-21995 that is included in the gap upside above Monday GB high at 2193 up to yesterday GB low at 22278. Depending upon market's participants, it could be a zone of attraction (let's fill it) or a signal that something is changed (possible island reversal upside). So in order to see which of the two solutions will be probable we need to wait and see who will be the actors of the new upcoming GB sessions.

An other important element will be the opening position related with yesterday GB session range (2228-22804): inside it or outside it? If inside it as written previously we could expect initial acceptation of yesterday GB range and eventually tests above and / or below it. If above or below it, meaning out of balance from yesterday range, we could expect something more, because in this case 2 things could happen:

  1. 1)a continuation in the direction of the outside open direction.
  2. 2)A re-enter in the yesterday GB balance going to the opposite side of it and maybe more.


About the following pit session we have to notice that price left 2 poor lows downside (at 22135 and 21364) and 3 poor high upwards ( at 2254, 2274 and 23218): so we could expect some possible solutions for this double issue.

  1. 1)A correction below and then a correction above.
  2. 2)the opposite of the previous one.
  3. 3) a gap in one of the two directions in order to skip weaknesses above or below.
  4. 4) continuing balance and leaving the problem for next sessions.

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  • #1,486
  • Nov 1, 2016 11:59pm Nov 1, 2016 11:59pm
Hey Lock,
can you please tell me when you speak o pit hours, what time is it in GMT ?
Thanks
  • #1,487
  • Nov 2, 2016 12:07am Nov 2, 2016 12:07am
Quoting filostro
Hey Lock, can you please tell me when you speak o pit hours, what time is it in GMT ? Thanks
Hi Filostro,
For GMT+1 untill 10.28 it was 15:30-23:00. After 10.30 it is 14:30-22:00. But then it will newly change after 11.06 because of the Daylight Saving Time Shift for US.

Best L.
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  • #1,488
  • Nov 2, 2016 1:05am Nov 2, 2016 1:05am
09:05 +1GMT GB opened inside yesterday GB range (2228-22804) but above yesterday GB spike base at 22388.
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  • #1,489
  • Nov 2, 2016 1:09am Nov 2, 2016 1:09am
09:09 Note that right above yesterday GB high we have the old GB poor high at 2285. And above it the old Tokyo poor high at 2298. ANyway remember that for now we still are in a balance environment inside yesterday GB range.
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  • #1,490
  • Nov 2, 2016 1:16am Nov 2, 2016 1:16am
Hey Lock...US election concerns is having the effect of a US dollar sell off.....could send Cable up over 1.2300 and beyond...
Don't Leave Money on the Table
  • #1,491
  • Nov 2, 2016 1:30am Nov 2, 2016 1:30am
09:30 Note that in the last 4 days USDX liquidate the previous 13 days upside, leavin above 3 GB gap and 1 pit gap: a lot of emotion in it.

Quoting HaLBot
Hey Lock...US election concerns is having the effect of a US dollar sell off.....could send Cable up over 1.2300 and beyond...
Surely we could have a correlation between them as in the last weeks. But I really don't know what could happen during and after elections. I suggest to take this market a piece at a time. Remember that unless you are an investor or a bigger timeframe you should be flat at the end of the day.

09:34 GB action up and down open price: not a great sign of conviction in any direction. For now we got an initial rejection above yesterday GB high.

09:39 B high at half back. Weak hands for now.

09:44+1GMT Do not be mesmerized by price action. Price is only an advertising mechanism (JD). Currently we have nothing but weak hands playing here.

09:55 after almost one hour price is always at open. A lot of volatility. Weak hands ruling this market.

10:19 Still up and down open. C inside period of B. Rejection above yes GB high for now. GB high anyway not particularly good being just 1 single pip below previous GB poor high. And now even B C periods poor low.

10:25 BC poor low removed and now C low is exactly at yesterday GB session half back. (also yesterday pit session high). When you see only exact references used to trade you know your competitors are weak hands.

10:34 Again at open (also current half back):what a surprise!
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  • #1,492
  • Nov 2, 2016 2:49am Nov 2, 2016 2:49am
10:49 still up and down open after almost 2 hours. But D is currently inside bar of C. If so untill its close possible break expected above and or below D balance.
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  • #1,493
  • Nov 2, 2016 3:02am Nov 2, 2016 3:02am
11:02 D inside bar of C. Remember that when a break fails above or below a balance the possible target is at the opposite side of that balance.
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  • #1,494
  • Nov 2, 2016 3:34am Nov 2, 2016 3:34am
Quoting Lock
11:02 D inside bar of C. Remember that when a break fails above or below a balance the possible target is at the opposite side of that balance.
11:34 "E" period failed below "D" balance and price is now at the opposite side of "D". Note anyhow that this market is extraordinary weak having left downside a poor low (C E periods same lows) at yesterday GB session half back/yesterday pit session high: carry this information forward.
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  • #1,495
  • Nov 2, 2016 3:41am Nov 2, 2016 3:41am
11:41 Note that all periods but one went up and down open price: huge indecision and weak hands still ruling the environment. Know your competitors if you want to survive in a market.
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  • #1,496
  • Nov 2, 2016 3:50am Nov 2, 2016 3:50am
11:50 Current auction is poor downside (at 2254) and weak above (at 22835). Very narrow range (only 30 pips.) Value is building overlapping to higher form yesterday GB session value. And current GB action is also building a possible gap upside for preUS and pit sessions. Because of the great uncertainty of this environment I'm currently flat and neutral. I have no edges to operate so I opted to stay out of this.

See you later. Best L.
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  • #1,497
  • Nov 2, 2016 5:14am Nov 2, 2016 5:14am
13:13 +1GMT Eventually GB made a spike with the last 2 periods and preUS opened consequently with a big gap upside from yesterday pit session high at 2254. If preserved untill pit open we could eliminate all the pit poor highs above included the last one at 2321. Note anyhow that the structure below is very very weak.

Note also that price is currently not too far from the first weekly balance high at 23317. After that we have only the second weekly balance high at 24437. See this previous post to understand what I mean.
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  • #1,498
  • Nov 2, 2016 5:43am Nov 2, 2016 5:43am
Quoting Lock
18:57+1GMT A very mature profile is forming daily. .....
Quoting Lock
Note the following reference above anyway: GB B period high at initial half back 22676: untested. GB periods C and D highs at Tokyo high 22585: untested. GB period E and G highs at GB open 22553: untested. pit US periods G and H just a couple of pips below previous one: poor high* and untested. previous pit US poor high at 2274* previous GB poor high at 2285 previous Tokyo poor high at 2298 previous pit US poor high at 23218* *Note also that we have 3 pit US poor highs in[/highlight]...
Quoting Lock
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.
All the weaknesses above, listed yesterday, removed by current price action. Now we are very weak below. At the same time if stronger timeframes will enter right now we could continue higher up to the second weekly balance.
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  • #1,499
  • Nov 2, 2016 5:52am Nov 2, 2016 5:52am
13:52+1GMT

A fast recap:

  1. first weekly balance at 23317 that could attract a test by upcoming pit session.
  2. old pit gap downside at 23246-23444: also this could attract pit session action in order to fill it.
  3. old pit us poor high are below here at 23218, 22739 and 2254: we need only to have upcoming pit opening above the last one (23218) to consider all of them corrected.

Downside we left 2 poor lows for pit session at 22137 and 21364 plus a minus development at 21776-21995. Note also that current preUS session is very elongated and that the GB session supporting current action has been extraordinary weak. (with a poor low at 2254 and some minus development for G 2284-2292 and H 2299-2304.)

If pit session will open with a gap upside weaknesses below could be eventually skipped for sometimes. If the gap will not be retraced quickly and if no stronger hands will step in against current action upwards.

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  • #1,500
  • Nov 2, 2016 6:25am Nov 2, 2016 6:25am
Quoting Lock
13:52+1GMT A fast recap: first weekly balance at 23317 that could attract a test by upcoming pit session. old pit gap downside at 23246-23444: also this could attract pit session action in order to fill it. old pit us poor high are below here at 23218, 22739 and 2254: we need only to have upcoming pit opening above the last one (23218) to consider all of them corrected. Downside we left 2 poor lows for pit session at 22137 and 21364 plus a minus development at 21776-21995. Note also that current preUS session is very elongated and that the GB session...
Where u see the MD in 21776-21995 ?
Shall you please upload a screenshot?

Thank you
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