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Lock's Cable Corner

  • #1,641
  • Nov 15, 2016 9:57am Nov 15, 2016 9:57am
16:57+1GMT
Current C period is inside B: possible break from here. (if so go with the break and stops just inside C balance: if the break fails natural target at the opposite side of C balance)
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  • #1,642
  • Nov 15, 2016 10:07am Nov 15, 2016 10:07am
Quoting Lock
16:57+1GMT Current C period is inside B: possible break from here. (if so go with the break and stops just inside C balance: if the break fails natural target at the opposite side of C balance)

Attempted break above C balance.
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  • #1,643
  • Nov 15, 2016 10:17am Nov 15, 2016 10:17am
Quoting Lock
{quote} Attempted break above C balance.
Monitor for continuation: next visible level is yesterday pit low at 24433 that is also the weekly bracket high.
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  • #1,644
  • Nov 15, 2016 10:24am Nov 15, 2016 10:24am
The attempted break occurred only some pips bove the main composite poc at 2415 that as you know works as a pole of attraction for price: so unless bigger timefremes will step in the odds are for a stall here. (btw I'm in the attempt too, stops right inside C balance)
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  • #1,645
  • Nov 15, 2016 10:28am Nov 15, 2016 10:28am
Quoting Lock
The attempted break occurred only some pips bove the main composite poc at 2415 that as you know works as a pole of attraction for price: so unless bigger timefremes will step in the odds are for a stall here. (btw I'm in the attempt too, stops right inside C balance)
No way: I'm out, whatever the result. I didn't like it.
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  • #1,646
  • Nov 15, 2016 10:31am Nov 15, 2016 10:31am
17:31 Price was up and down open for the last 4 periods of 4. There is too indecision and lack of conviction, consequently I'm off.
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  • #1,647
  • Nov 15, 2016 10:57am Nov 15, 2016 10:57am
A possible initial target for this second attempt is the filling of the gap and the test of the weekly bracket high. But watch out because this market is very weak and current action is against the last 2 days trend downside.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-11-15_17-54-30_session.png Size: 72 KB
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  • #1,648
  • Nov 15, 2016 11:52am Nov 15, 2016 11:52am
Quoting Lock
A possible initial target for this second attempt is the filling of the gap and the test of the weekly bracket high. But watch out because this market is very weak and current action is against the last 2 days trend downside. {image}
2 pips left to fill completely the gap and preUS high tagged. Anyway I must admit that this session was and is very very difficult.
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  • #1,649
  • Nov 15, 2016 1:00pm Nov 15, 2016 1:00pm
Quoting Lock
A possible initial target for this second attempt is the filling of the gap and the test of the weekly bracket high. But watch out because this market is very weak and current action is against the last 2 days trend downside. {image}
Quoting Lock
{quote} 2 pips left to fill completely the gap and preUS high tagged. Anyway I must admit that this session was and is very very difficult.
20:00+1GMT
Today pit gap filled completely, preUS tag taken out, weekly bracket high tested.
Pit session is in one timeframing higher mode from B period, but currently I'm too tired to continue any longer so I'm definitively off for today.
Best L.

Attached Image (click to enlarge)
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  • #1,650
  • Edited 1:50am Nov 17, 2016 1:13am | Edited 1:50am
16/11/17 THURSDAY 08:13+1GMT (edited untill 08:44)
EARLY MORNING REPORT

Yesterday GB session range(2409-2492) built inside the day before GB session range (23925-24965) as yesterday pit session range (24125-2070) developed inside the day before pit session range (23795-25138). Also the main composite POC at 2428 is very mature. From such a situation we clearly could expect e directional move trying to break current full balance environment.

Note also that all the last price activity took place around a major week reference that is the high of the lower weekly distribution at 24436. Furthermore take note about the current one timeframing lower mode of the daily timeframe from 11.11.
Remember that for now GB price action left above a TRIPLE PASS GAP at 25413-2553 that left the 11.11 GB session range as an "island reversal": so unless this gap will be eventually filled we are now in a mid term daily down trend ruled by GB participants.

An other very important info regards the USDX situation where yesterday price action saw the test above DIC 2015 high.

The level of weakness are:
below at 2377 level (GB 11.10 poor low "tagged by 11.15 pit session low at 23795) and the 2351 level where we have the 11.09 Tokyo low tagged by the 11.09 GB low just a pip above it)
above at 2470 level (yesterday pit session high tagging the preUS high just a pip above it), 25138 that is the high of the 11.15 pit session high (testing above the previous 11.14 pit session high only with 3 pips) and finally the 11.14 preUS session poor high at 2555. Note that to reach this last level we need to fill the pit gap from 11.11 and eventually the TRIPLE PASS GB GAP at 25413-2553.

There are minor weaknesses very close to current price action as the poor low and poor high of today Tokyo session at 2437 and 2410. And the today Sydney poor high at 24545.

DAILY SITUATION.

Attached Image (click to enlarge)
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SESSIONS.

Attached Image (click to enlarge)
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  • #1,651
  • Nov 17, 2016 1:59am Nov 17, 2016 1:59am
Lock, thanks for your analysis.

Can you make same analysis on USDX as you do on Cable?
  • #1,652
  • Nov 17, 2016 2:05am Nov 17, 2016 2:05am
Quoting Lock
16/11/17 THURSDAY 08:13+1GMT (edited untill 08:44) EARLY MORNING REPORT ... above at 2470 level (yesterday pit session high tagging the preUS high just a pip above it), 25138 that is the high of the 11.15 pit session high (testing above the previous 11.14 pit session high only with 3 pips) and finally the 11.14 preUS session poor high at 2555. [...]
Quoting Lock
There are minor weaknesses very close to current price action as the poor low and poor high of today Tokyo session at 2437 and 2410. And the today Sydney poor high at 24545. ..
09:05 +1GMT
Last period of Tokyo session removed both the temporary Tokyo poor high at 2437 and the Sydney poor high at 24545 as the first GB period immediately tested the first weakness above at 2470 level (yesterday pit session high tagging the preUS high just a pip above it).
Note that today GB session opened inside yesterday GB session range(2409-2492), consequentely initial acceptation of it and eventually tests above and/or below it are expected.
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  • #1,653
  • Nov 17, 2016 2:08am Nov 17, 2016 2:08am
Quoting Morbo
Lock, thanks for your analysis. Can you make same analysis on USDX as you do on Cable?
Hello Morbo, I'm constantly monitor the dollar index on major timeframes but I'm fully involved in cable and I'm currently trading only it. So a deep analysis of USDX (at a session level) is currently out of my possibilities. Sorry about that. Best L.
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  • #1,654
  • Nov 17, 2016 2:13am Nov 17, 2016 2:13am
Quoting Lock
{quote} {quote} 09:05 +1GMT Last period of Tokyo session removed both the temporary Tokyo poor high at 2437 and the Sydney poor high at 24545 as the first GB period immediately tested the first weakness above at 2470 level (yesterday pit session high tagging the preUS high just a pip above it). Note that today GB session opened inside yesterday GB session range(2409-2492), consequentely initial acceptation of it and eventually tests above and/or below it are expected.
What about the gap between Tokyo and the GB session?

Or do we need to wait untill period B is over in the current GB session for speaking about a gap here ?
You can manage risk, but you can't manage the return
  • #1,655
  • Nov 17, 2016 2:13am Nov 17, 2016 2:13am
Quoting Lock
{quote} {quote} 09:05 +1GMT Last period of Tokyo session removed both the temporary Tokyo poor high at 2437 and the Sydney poor high at 24545 as the first GB period immediately tested the first weakness above at 2470 level (yesterday pit session high tagging the preUS high just a pip above it). Note that today GB session opened inside yesterday GB session range(2409-2492), consequentely initial acceptation of it and eventually tests above and/or below it are expected.
09:13
2470 level is now very very weak obviously as it is a triple tag of the same reference. (this does not mean it has to go there now and take it out immediately, but it means that you have to carry forward this information.)
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  • #1,656
  • Nov 17, 2016 2:16am Nov 17, 2016 2:16am
Quoting HappyMe
{quote} What about the gap between Tokyo and the GB session?
If you mean about current situation there is no gap. A gap is considered only between same sessions (mean GB compared to GB, Tokyo to Tokyyo and so on). Anyway what we have seen now is a spike test made by last P Tokyo period: a spike is a form of excess so is similar to a gap conceptually. If accepted (the test) we could experience continuation upside. If rejected, meaning filled the empty space left between the Tokyo distribution and current GB activity we could see a full retracement of the Tokyo balance, down to its poor low at 2410.
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  • #1,657
  • Nov 17, 2016 2:32am Nov 17, 2016 2:32am
Hello Lock,
is it possible to avoid that the gap drawn move on the right? As you can they are not in the orginal position as in picture 11.

Thank you
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Click to Enlarge Name: Untitled 11.jpg Size: 728 KB
  • #1,658
  • Nov 17, 2016 2:49am Nov 17, 2016 2:49am
Quoting Devart
Hello Lock, is it possible to avoid that the gap drawn move on the right? As you can they are not in the orginal position as in picture 11. Thank you {image} {image}
Hi Devart, tech issues in the evening. Best L.
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  • #1,659
  • Nov 17, 2016 2:51am Nov 17, 2016 2:51am
09:51 B period is the last one for Tokyo participants*. We currently have a poor low and a poor high for GB: this is normal because current participants are clearly weak hands because of the opening inside yesterday GB range. Major timeframes are generally less interested in market opened inside previous ranges. (at least initially)

* Note infact that B period high tagged exactly yesterday Tokyo close at 24713 (yesterday GB B period close)
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  • #1,660
  • Nov 17, 2016 3:13am Nov 17, 2016 3:13am
10:13 Note that at 2475 level we got 11.15 GB open at 24768, 11.16 GB open at 2475, yes Tokyo close at 24713 and today Tokyo close at 24765..
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