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Lock's Cable Corner

  • #1,861
  • Nov 30, 2016 9:14am Nov 30, 2016 9:14am
Quoting Lock
Also I repeat here what I've already written yesterday: USDX didn't establish an "all time" high with a pit session: it is very rare that a significant level as this one could be made by a non pit session so we still have the possibility to see a rally made by pit session in order to at least test the current "all time" high. I don't know when, I don't know if we need more liquidation before this, but I think the odds are in favour of this possibility. Consequently cable could follow this possible rally...
currently USDX is rallying: I don't know if it is a good one or if it can last. But if so a correlation with cable could be significant. Let's see.
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  • #1,862
  • Nov 30, 2016 9:23am Nov 30, 2016 9:23am
A USDX rally with a crude rally too: good Lord! Something is going on here. If it's a fake I think we will see tomorrow.
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  • #1,863
  • Nov 30, 2016 9:32am Nov 30, 2016 9:32am
Quoting Lock
16:11+1GMT Yesterday gap upside filled: for any continuation we need acceptation below major weekly ref (meaning below 24437)+ acceptation back inside Monday pit session range (meaning below 24326). If not, back to yesterday pit low at least.

Do you see the fight at 24437? Very difficult market. For now the gap downside is resisting but we still have no acceptation below 24437 nor below Monday pit session high at 24326. Let's see.
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  • #1,864
  • Nov 30, 2016 9:38am Nov 30, 2016 9:38am
C inside bar of B, C high weak at round 2450, B weak at open.
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  • #1,865
  • Nov 30, 2016 9:42am Nov 30, 2016 9:42am
Quoting Lock
C inside bar of B, C high weak at round 2450, B weak at open.
immediately retraced. Now let's see the reaction at the gap downside...
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  • #1,866
  • Nov 30, 2016 9:48am Nov 30, 2016 9:48am
Quoting Lock
{quote} immediately retraced. Now let's see the reaction at the gap downside...
rejected again. Too much indecision. I'm off for now. Let's see later.
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  • #1,867
  • Nov 30, 2016 10:10am Nov 30, 2016 10:10am
Quoting Lock
{quote} rejected again. Too much indecision. I'm off for now. Let's see later.
Well, I'm really happy to be out of this mess. All the gaps filled. D spike tagged exactly at the pip the weekly inside balance high at 25122 (last week high) And set a weak low at current half back 24705. PreUS poor high obvoiusly removed.
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  • #1,868
  • Nov 30, 2016 10:16am Nov 30, 2016 10:16am
Quoting Lock
A USDX rally with a crude rally too: good Lord! Something is going on here. If it's a fake I think we will see tomorrow.
USDX still rallying. Crude on top of balance. Very strange behaviour of cable for now.
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  • #1,869
  • Nov 30, 2016 10:19am Nov 30, 2016 10:19am
cable is currently glued to the very prominent daily poc(today profile poc: Sydney+Tokyo+GB+preUS+pitUS profiles): and up and down the half back of the daily bracket at 24873. (the daily bracket from 11.11 high to 11.18 low)
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  • #1,870
  • Nov 30, 2016 10:24am Nov 30, 2016 10:24am
Quoting Lock
{quote} USDX still rallying. Crude on top of balance. Very strange behaviour of cable for now.
Imagine the amount of money someone is doing with this thing!
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  • #1,871
  • Nov 30, 2016 10:56am Nov 30, 2016 10:56am
17:56

D and E periods made their lows both at current half back 24705. Note this last period for London trying to test yesterday GB close at 25055. E high currently weak at round 2500. Full weak environment all day long. Still up and down the half back of the daily bracket at 24873.
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  • #1,872
  • Nov 30, 2016 11:00am Nov 30, 2016 11:00am
Quoting Lock
17:56 D and E periods made their lows both at current half back 24705. Note this last period for London trying to test yesterday GB close at 25055. E high currently weak at round 2500. Full weak environment all day long. Still up and down the half back of the daily bracket at 24873.
And E period inside of D.
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  • #1,873
  • Nov 30, 2016 11:07am Nov 30, 2016 11:07am
Quoting Lock
17:56 D and E periods made their lows both at current half back 24705. Note this last period for London trying to test yesterday GB close at 25055. E high currently weak at round 2500. Full weak environment all day long. Still up and down the half back of the daily bracket at 24873.
brutally taken out.
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  • #1,874
  • Edited 1:42am Dec 1, 2016 1:22am | Edited 1:42am
16/12/01 THURSDAY 08:21+1GMT (edited untill 08:42)
EARLY MORNING REPORT

Just a word about yesterday. I repost here what I wrote during the GB session liquidation. I think it is important because it is a clear example of how misleading could be the simple price action without the understanding of who and why is carrying it forward in a particular direction.

Quoting Lock
10:40 Again, we are in a rotational environment for now. A very weak one. Current GB high is weak as it is a tag of GB monday high and D high is weak as it is at round 2500. I'm not saying it's going to go there now. I'm saying current retracement is again a weak move. It's everywhere weak now. Plus C low at half back has not been corected yet but only tagged by D.
Quoting Lock
12:20+1GMT ..... Remember that even if it is a big move it is not as strong: for now we only see liquidation. And again, it doesn't mean we cannot have continuation downside, but it means that current price movement is leaded by weak hands traders.
Quoting Lock
It's not strong because it was too sharp and fast and is not strong because it used weak references as resistance before to come down. As written many times a liquidation (or a short covering) could start a move in a direction just to correct inventories.
Quoting Lock
Then we could have 2 scenarios: the liquidation (or short covering) morphs in something stronger with the participation of bigger timeframes or could be retraced for the intervention of the same stronger participants who saw in that particular move a good opportunity to go against it (knowing that it is structurally weak)

Yesterday pit session completed the full retracement (short covering) of the GB session liquidation downside then it eventually settled below the last inside weekly balance high at 25122.
Today Tokyo session developed instead above that level clearly making an other attempted breakout above it.
We are currently above yesterday GB session high at 2515 and consequently we are building a new gap higher. Now, right around here we got the old TRIPLE PASS GB GAP at 25413-2553: if GB will open below it but near to it we probably will climb again to fill it (because we will be too close to it to skipp it) while if GB will open above it, because it will be then a 4 pass gap, we will probably come back to fill it anyway right because a 4 pass gap is a very rare event.

Note that if this triple gap will become a 4 pass gap all the market below that zone will be a huge island reversal: the implication of this will be so important and dramatic to suggest me a probable correction of it. But as always in a market a probability is only a probability and not a certitude. So anyone here should also be prepared to this alternative scenario.

If the possible GB gap higher will resist we could see something meningfull upside but if it will not resist and the game will be only "go and fill the old triple pass gap" then we could see an other substantial correction downside.

IMPORTANT: last month is an inside one, so we could see an attempted breakout above or below it or both as in any balance environment. The range of November is consequently very important as its limits are possible breakeven levels: 22042-26731.
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  • #1,875
  • Dec 1, 2016 2:55am Dec 1, 2016 2:55am
Quoting Lock
16/12/01 THURSDAY 08:21+1GMT (edited untill 08:42) EARLY MORNING REPORT [...] Now, right around here we got the old TRIPLE PASS GB GAP at 25413-2553: if GB will open below it but near to it we probably will climb again to fill it (because we will be too close to it to skipp it) while if GB will open above it, because it will be then a 4 pass gap, we will probably come back to fill it anyway right because a 4 pass gap is a very rare event. .....
09:55+1GMT old triple pass gap filled: now we want to see if the game was only to come over it and fill it (then back downside) or if we have something more above it.

Clearly we will see this depending upon the possible correction of the new gap upside from yesterday gb sesison high at 2515.
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  • #1,876
  • Dec 1, 2016 3:06am Dec 1, 2016 3:06am
Note that most of the traders outside here are perfectly unaware of these occurrences, as they are unaware of the things you are informed about in this thread*. Consider this simple fact as a good edge against your competitors.

*I hope that step by step you will be able to see and evaluate MGI (market generated information) without the support of anyone but yourself.
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  • #1,877
  • Dec 1, 2016 3:23am Dec 1, 2016 3:23am
10:23+1GMT A small portion of the new gap upside still in place: watch out because we are before news. If the gap will resist we could have a further correction upside.
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  • #1,878
  • Dec 1, 2016 3:33am Dec 1, 2016 3:33am
poor low
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  • #1,879
  • Dec 1, 2016 3:33am Dec 1, 2016 3:33am
Quoting Lock
poor low
taken out
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  • #1,880
  • Dec 1, 2016 3:36am Dec 1, 2016 3:36am
Quoting Lock
10:23+1GMT A small portion of the new gap upside still in place: watch out because we are before news. If the gap will resist we could have a further correction upside.

New gap upside filled and weekly balance high tested. Now, again, let's see if the game was only "fill the new gap" or if we got acceptation inside yesterday range.
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