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Lock's Cable Corner

  • #1,981
  • Dec 8, 2016 3:16am Dec 8, 2016 3:16am
10:16 +1GMT Now, after the struggle above this major ref (monthly breakeven) 2 things could happen: a failure above it and a consequent correction downside (back inside yesterday GB range at least) or acceptatation above it, and in this last case we could aim at the old GB poor high at 27744 (after the filling of thew double pass GB gap up to 2691. Note that the game could also be only to go and fill the double gap space. So watch out.
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  • #1,982
  • Dec 8, 2016 3:39am Dec 8, 2016 3:39am
Quoting Lock
11:29+1GMT (edit 11:32) I'll be off for a while but carry forward the following information: D period high is at open 2632, E period high is at November GB highest close 2604, Tokyo O and P periods were at previous Tokyo HB 2665, as Tokyo H I J K periods were at previous Tokyo HB 2659, Tokyo high is poor at 2672, yesterday GB session high is poor 27744 as yesterday preUS high at 27688. It can continue lower because for now we have a double distribution plus a huge gap downside but remember that...
10:39+1GMT all the weak refs left yesterday taken out. (and also the Tuesday pit session minus development)
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  • #1,983
  • Dec 8, 2016 4:05am Dec 8, 2016 4:05am
11:04+1GMT D inside C.
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  • #1,984
  • Dec 8, 2016 5:05am Dec 8, 2016 5:05am
12:05+1GMT
D low at early morning high + monthly breakeven 2673, B low at previous half back 2631, A low at Sydney low 26155: carry these information forward if something will go wrong higher.
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  • #1,985
  • Dec 8, 2016 5:59am Dec 8, 2016 5:59am
Quoting Lock
12:05+1GMT D low at early morning high + monthly breakeven 2673, B low at previous half back 2631, A low at Sydney low 26155: carry these information forward if something will go wrong higher.
12:59 At least the very weak D low has been taken out.
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  • #1,986
  • Edited 9:05am Dec 8, 2016 7:39am | Edited 9:05am
We have a tappering from the ECB. Normally the market would not like it......we will see how it turns out in the GBPUSD

USDX is up for now.... GBPUSD is down....but will it turn to the south definitely....?
You can manage risk, but you can't manage the return
  • #1,987
  • Dec 8, 2016 9:29am Dec 8, 2016 9:29am
Quoting Lock
12:05+1GMT D low at early morning high + monthly breakeven 2673, B low at previous half back 2631, A low at Sydney low 26155: carry these information forward if something will go wrong higher.
16:29+1GMT
Pre US took out all of them, pit session opened inside yesterday pit range, tested above it, found nothing and here we are at the opposite side of it as normal.
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  • #1,988
  • Edited 9:47am Dec 8, 2016 9:31am | Edited 9:47am
Quoting HappyMe
We have a tappering from the ECB. Normally the market would not like it......we will see how it turns out in the GBPUSD USDX is up for now.... GBPUSD is down....but will it turn to the south definitely....?
As written many times in the last days USDX does not have a good "all time" high made during a pit session. In my opinion after the liquidation we have seen we have space to finally place that good low high (sorry for the typo). I don't know when but..
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  • #1,989
  • Dec 8, 2016 9:49am Dec 8, 2016 9:49am
16:49+1GMT We now have a poor low and remember that we have the old DOUBLE PASS PIT GAP at 25255-25595: I'm not sying it has to go there right now but in case of continuation is a good place to revisit.
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  • #1,990
  • Dec 8, 2016 9:56am Dec 8, 2016 9:56am
Quoting Lock
16:49+1GMT We now have a poor low and remember that we have the old DOUBLE PASS PIT GAP at 25255-25595: I'm not sying it has to go there right now but in case of continuation is a good place to revisit.
...and here we are inside it.
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  • #1,991
  • Dec 8, 2016 9:58am Dec 8, 2016 9:58am
Quoting Lock
{quote} 16:29+1GMT Pre US took out all of them, pit session opened inside yesterday pit range, tested above it, found nothing and here we are at the opposite side of it as normal.
16:58+1GMT
Note and carry this information forward: preUS started all this move downside and it placed its high exactly at monthly breakeven 2673 that as written multiple times is our most imposrtant level for these days.

Now as written this morning in the report the other very significant level is the weekly breakeven at 25122: so it is not impossible to see a test also of this level.
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  • #1,992
  • Dec 8, 2016 10:05am Dec 8, 2016 10:05am
25493 is the half back of the entire move downside from 09.22 to the "all time" low: so watch out because it is a relevant level.
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  • #1,993
  • Dec 8, 2016 10:18am Dec 8, 2016 10:18am
For any meaningfull continuation downside (today) the minus development of C period should be preserved at least in part: if not...
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  • #1,994
  • Dec 8, 2016 10:22am Dec 8, 2016 10:22am
Quoting Lock
In USDX we got a 4 pass gap above current price location: it is extremely rare to have a similar zone untested 4 times in a row. (100.35 zone)

Note a very significant information given to us by current situation in USDX: the already 4 pass GB gap at 100.35 zone, if price will remain above it as it is now untill tomorrow GB open, will become a 5 pass gap: and I've never seen a thing like this in my entire trading experience. So carry this info forward.
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  • #1,995
  • Dec 8, 2016 10:24am Dec 8, 2016 10:24am
17:24 Note current D high at yes low tag (25692): carry this info forward.
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  • #1,996
  • Dec 8, 2016 10:27am Dec 8, 2016 10:27am
17:27 Next E period is the last for London: yes London close is at 26024, while lowest Dec London close is at 25946.
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  • #1,997
  • Dec 8, 2016 10:29am Dec 8, 2016 10:29am
D inside C
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  • #1,998
  • Dec 8, 2016 10:56am Dec 8, 2016 10:56am
Quoting Lock
17:24 Note current D high at yes low tag (25692): carry this info forward.
taken out...
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  • #1,999
  • Dec 8, 2016 10:58am Dec 8, 2016 10:58am
Quoting Lock
17:27 Next E period is the last for London: yes London close is at 26024, while lowest Dec London close is at 25946.

E last period of London tagging yes GB low...
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  • #2,000
  • Dec 8, 2016 11:38am Dec 8, 2016 11:38am
Quoting Lock
{quote} E last period of London tagging yes GB low...
18:38 taken out again.

Note that the current D and E lows are obviously not good as they both tagged round 2550 (just above the double pass gap). At the same time note that last action filled the minus development left by C period. So in my opinion we have seen liquidation (as the "b" shape underlines) and now we are watching short covering. I'm off for today. Best L.
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