Lock's Cable Corner | Page 80 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #1,581
  • Nov 11, 2016 10:07am Nov 11, 2016 10:07am
Quoting Temujin
{quote} Hit GBP/AUD last night, woke up and logged in my account and was like whoa!
Yes but as you see all the action upside was against USDX and as written it left downside too many weakness to continue any further without corrections. Best L.
Ubi maior minor cessat
  • #1,582
  • Nov 13, 2016 10:13am Nov 13, 2016 10:13am
At 1.2780 we will be hitting the weekly 14 EMA and it will not rise above this resistance because the dollar bulls are back in force with a DEC rate hike certainty and fiscal stimulus. Much uncertainty also remains in regard to what deal Britain can secure in this divorce.
Be humble or be humbled.
  • #1,583
  • Nov 14, 2016 1:12am Nov 14, 2016 1:12am
Quoting Temujin
At 1.2780 we will be hitting the weekly 14 EMA and it will not rise above this resistance because the dollar bulls are back in force with a DEC rate hike certainty and fiscal stimulus. Much uncertainty also remains in regard to what deal Britain can secure in this divorce.
16/11/14 08:12 +1GMT

27948 is the upper weekly bracket low so it is a go/no go level: acceptation above it could lead to a complete retracement up to the upper weekly bracket high at 35326, as rejection from this level could lead to a complete retracement downwards back inside to the lower weekly distribution (20816-24436) and eventually down to the "all time" low at 19796. The reference you underlign (2780) is approximately the same level we are speaking about here and yes it is a very important one. Best L.
Ubi maior minor cessat
  • #1,584
  • Edited 2:05am Nov 14, 2016 1:19am | Edited 2:05am
16/11/14 MONDAY 08:19 (edited untill 09:05)

WEEKLY REPORT

Monthly

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-14_8-15-45_MONTHLY.png Size: 23 KB


Weekly

Note that after the failure below the inside week 10.16 low at 21352 we have seen a very normal retracement back up to the top of the lower weekly distribution at 24436 and then an attempted break upwards in order to reach and test the upper weekly distribution low at 27948.
So in this timeframe the more important levels are clearly the low of the upper distribution and the high of the lower one.

As written in the chart, acceptation above the low of the upper distribution could lead to a full retracement of its entire range up to 35326 as a rejection from it (maybe below it leaving also a clean space below the upper distribution as it is now) could mean a complete correction downside back into the lower weekly distribution and eventually downwards to the "all time low" at 19796.

Note also that currently we are in a one timeframing mode upwards from the 10.16 week: in order to interrupt it we have to see current week low below last week low at 23515. If not the mid term up trend will be confirmed for now.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-14_8-22-20_WEEKLY.png Size: 59 KB


Daily

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-14_8-41-01_DAILY.png Size: 56 KB


Sessions

Note that GB session opened below Friday low at 2553 with a new gap downside and right at the bottom of the old DOUBLE PASS GB gap from 11.09 (24995-2553) that now with current gap downside became a TRIPLE PASS GAP. Below this level (today open price) we still have the TRIPLE PASS GAP from 11.03-04 (2455-24625): These 2 multi pass gaps are clearly important for today GB session.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-14_8-50-22_SESSIONS.png Size: 217 KB
Ubi maior minor cessat
  • #1,585
  • Nov 14, 2016 2:56am Nov 14, 2016 2:56am
09:56 +1GMT
GB opened with a gap downside (Excess), made an attempt upside with A period, failed and then with this new confirmation it has more strength to continue lower in the direction of this last new gap: this was a clear daily short opportunity. Note that current price is tagging at the pip the high of TRIPLE PASS GAP below (2455-24625) so currently GB session is contained in between 2 TRIPLE PASS GAP, above and below: carry this information forward.
Ubi maior minor cessat
  • #1,586
  • Nov 14, 2016 3:29am Nov 14, 2016 3:29am
10:29
Back to open price, up and down Tokyo low and B high still weak at previous half back. Note that all the single pips left by B period coming down have been filled by C period action. Note also that current C is inside bar of B. Also C high is weak at round 2500. Current session low is weak obviously as it is a perfect tag of the downside TRIPLE PASS GAP high at 24625. Clearly the fact that current session range is between 2 TRIPLE PASS GAPS is the main important one and could lead current market participants to a lot of indecision.
Ubi maior minor cessat
  • #1,587
  • Nov 14, 2016 3:40am Nov 14, 2016 3:40am
10:40 D high tagging exactly tokyo low at 24915. Current market is very weak ruled by weak hands daily traders.
Ubi maior minor cessat
  • #1,588
  • Nov 14, 2016 3:56am Nov 14, 2016 3:56am
10:56
USDX NOTE
Dollar index removed both Genuary and February highs. And we have a big GB session gap upside from Friday GB high.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-14_10-54-37_USDX.png Size: 17 KB
Ubi maior minor cessat
  • #1,589
  • Nov 14, 2016 4:02am Nov 14, 2016 4:02am
11:02 +1GMT

B high at previous half back, C high at round 2500, D high at open price. D inside of C inside of B.
Ubi maior minor cessat
  • #1,590
  • Nov 14, 2016 4:14am Nov 14, 2016 4:14am
11:14 Watch out if it will not get continuation above B, C, D; E weak highs.
Ubi maior minor cessat
  • #1,591
  • Nov 14, 2016 4:37am Nov 14, 2016 4:37am
Quoting Lock
11:02 +1GMT B high at previous half back, C high at round 2500, D high at open price. D inside of C inside of B.
11:37 B C and D weak highs removed by E action. E attempted a break above C & D inside periods balance. For continuation we need to stay above early morning A period high. If not, watch out for a correction downside back to the weak low at 24625.
Ubi maior minor cessat
  • #1,592
  • Nov 14, 2016 5:05am Nov 14, 2016 5:05am
12:05 Minus development in F period from A period high to G period low. Note that in order to have a double distribution trend day we need to preserve some of this MD. If not we could have anly a single distribution. We are still between 2 TRIPLE PASS GAPS: an extraordinary rare condition.
Ubi maior minor cessat
  • #1,593
  • Nov 14, 2016 6:32am Nov 14, 2016 6:32am
13:32 I inside H inside G.
Ubi maior minor cessat
  • #1,594
  • Nov 14, 2016 6:56am Nov 14, 2016 6:56am
Quoting Lock
13:32 I inside H inside G.
13:55 Attempted break (spike) above H I periods balance.
Ubi maior minor cessat
  • #1,595
  • Nov 14, 2016 7:00am Nov 14, 2016 7:00am
GB eventually didn't solve nor the upper nor the lower TRIPLE PASS GAP. PreUS opened with a gap downside from Friday Pit low at 25595.
Ubi maior minor cessat
  • #1,596
  • Nov 14, 2016 7:14am Nov 14, 2016 7:14am
14:13 Up and down open price: lack of conviction and participation here.
Ubi maior minor cessat
  • #1,597
  • Nov 14, 2016 7:26am Nov 14, 2016 7:26am
It's trying to fill this early preUS gap downside. If it will succeed and if we will find acceptation above Friday pit low we could reach the prominent poc at 2596. But consider also that right now we are at the nearest composite poc 2556 and we have a lot of single pips for A period: so watch out because this environment is very very weak.

...if we find continuation , note that today Tokyo high is a tag of Friday Tokyo high at 25795 and Tokyo K period high is at Tokyo Friday unch. 25705.
Ubi maior minor cessat
  • #1,598
  • Nov 14, 2016 7:38am Nov 14, 2016 7:38am
Quoting Lock
It's trying to fill this early preUS gap downside. If it will succeed and if we will find acceptation above Friday pit low we could reach the prominent poc at 2596.But consider also that right now we are at the nearest composite poc 2556 and we have a lot of single pips for A period: so watch out because this environment is very very weak. ...if we find continuation , note that today Tokyo high is a tag of Friday Tokyo high at 25795 and Tokyo K period high is at Tokyo Friday unch. 25705.
Period A single pips retraced more than 60%: a lot of confusion and emotion in this market. Maybe waiting for some news (Draghi?)
Ubi maior minor cessat
  • #1,599
  • Nov 14, 2016 7:43am Nov 14, 2016 7:43am
Quoting Lock
14:13 Up and down open price: lack of conviction and participation here.
14:43 Back again to open price: still great uncertainty.
Ubi maior minor cessat
  • #1,600
  • Nov 14, 2016 7:45am Nov 14, 2016 7:45am
Quoting Lock
{quote} Period A single pips retraced more than 60%: a lot of confusion and emotion in this market. Maybe waiting for some news (Draghi?)
Now A period's single pips fully retraced.
Ubi maior minor cessat
1 trader viewing now