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Lock's Cable Corner

  • #2,121
  • Dec 16, 2016 2:00am Dec 16, 2016 2:00am
Quoting Lock
{quote} Use a bigger timeframe to define balancing zones. To find a balance you need at least 2 benchmark bars in opposite direction: the first 2 bars of this kind define the balance. Currently we have 3 overlapping balances on daily timeframe. {image}
Thanks, but what is a benchmark bar? What is the defination of it.... a lower low , or higher high? unfortunatly I can't destilate it nicely out of your schreenshot
You can manage risk, but you can't manage the return
  • #2,122
  • Dec 16, 2016 3:10am Dec 16, 2016 3:10am
10:10+1GMT
B inside A if we got an attempt above B and we fail we will have an opportunity to liquidate all tokyo. If instead it will try below B without correcting B high at open and current C at HB, it could liquidate but in this case watch out for a further correction upside.
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  • #2,123
  • Dec 16, 2016 3:11am Dec 16, 2016 3:11am
Quoting dragonexpert
Thanks for sharing your knowledge lock. Subscribed!

Hi dragonexpert, thanks for your appreciation. You're welcome. Best L.
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  • #2,124
  • Dec 16, 2016 3:12am Dec 16, 2016 3:12am
Quoting HappyMe
{quote} Thanks, but what is a benchmark bar? What is the defination of it.... a lower low , or higher high? unfortunatly I can't destilate it nicely out of your schreenshot

I'll try to answer you this evening. Best L.
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  • #2,125
  • Dec 16, 2016 3:16am Dec 16, 2016 3:16am
Quoting Lock
10:10+1GMT B inside A if we got an attempt above B and we fail we will have an opportunity to liquidate all tokyo. If instead it will try below B without correcting B high at open and current C at HB, it could liquidate but in this case watch out for a further correction upside.

Also note A period high tagging Tokyo high plus round 2450: carry this info forward if the liquidation stops.
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  • #2,126
  • Dec 16, 2016 3:43am Dec 16, 2016 3:43am
10:43+1GMT
Most of Tokyo liquidated. Now very weak above. A B and C weak at exact refs. Minus developlment inside C period. Very close composite poc. Obviously we still have space downside and some important levels to test as round 2400 Tokyo cluster and yesterday GB close at 23887. So I'm off for a while. Have a nice continuation and watch out. Best L.

PS: if you are still in your short pos for any meaningfull continuation downside you do not want to see the complete filling of the C minus dev. : if so you will not have anymore the current double distribution profile.
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  • #2,127
  • Dec 16, 2016 8:15am Dec 16, 2016 8:15am
Quoting Lock
10:43+1GMT Most of Tokyo liquidated. Now very weak above. A B and C weak at exact refs. Minus developlment inside C period. Very close composite poc. Obviously we still have space downside and some important levels to test as round 2400 Tokyo cluster and yesterday GB close at 23887. So I'm off for a while. Have a nice continuation and watch out. Best L. PS: if you are still in your short pos for any meaningfull continuation downside you do not want to see the complete filling of the C minus dev. : if so...
15:15+1GMT
All taken out. As normal.

So, it looks not so much happened from my departure.

Now, C inside B inside A in pre US session. Pit US is going to open inside yesterday pit session range.
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  • #2,128
  • Dec 16, 2016 8:17am Dec 16, 2016 8:17am
Quoting Lock
16/12/16 FRIDAY 08:24+1GMT (edited untill 08:38) EARLY MORNING REPORT ... Our most important level for upcoming GB session are: current composite poc at 2417. above current composite poc 2428 that is the half back of the entire move up from the low of 10.25. 24437 is the weekly balance high (it is the first week after the major breakdown of week10.02 .....
Note that the entire action of the last hours has been contained exactly over our first 3 main references.
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  • #2,129
  • Dec 16, 2016 8:39am Dec 16, 2016 8:39am
For any meaningfull continuation downside we need price acceptation below yesterday pit session unch at 24158. If not remember that we are in a rotational environment.
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  • #2,130
  • Dec 16, 2016 8:57am Dec 16, 2016 8:57am
Quoting Lock
16/12/16 FRIDAY 08:24+1GMT (edited untill 08:38) EARLY MORNING REPORT ..... below current composite poc the GB spike up base form 11.23 at 2404. ....
Note our ref tagged at the pip.
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  • #2,131
  • Dec 16, 2016 9:03am Dec 16, 2016 9:03am
Remember that markets are very visual (JD): price tends to go from one visual level to the next one. Specially in such weak environments.
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  • #2,132
  • Dec 16, 2016 9:20am Dec 16, 2016 9:20am
Quoting Lock
For any meaningfull continuation downside we need price acceptation below yesterday pit session unch at 24158. If not remember that we are in a rotational environment.
No acceptation below yes unch and consequently... I hope you could appreciate what market is constantly telling you.
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  • #2,133
  • Dec 16, 2016 9:23am Dec 16, 2016 9:23am
So: A low at exact ref, B low at previous half back., price is inside yesterday range. Do you see what I see?

Plus: no overniht high or low tested yet. Major composite poc very close to price action...

You are watching a short covering for now. And we are still in the initial balance.
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  • #2,134
  • Dec 16, 2016 9:27am Dec 16, 2016 9:27am
Isn't current B high exactly at today GB open? So: who is ruling current market? Weak hands or strong hands?
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  • #2,135
  • Dec 16, 2016 9:51am Dec 16, 2016 9:51am
16:51+1GMT
For pit session remember that yes action left above a weak high at 24974 (tagging preUS high) plus a minus dev up to 2477. While below pit didn't tested its weekly balance low at 23623. For now we are balancing: but in case of action you know where it could eventually go.

Current pit profile is weak below and above. Below A low at exact ref, B low at half back, C low at half back+open. Above B high at GB open. Note also preUS high weak at yes GB low 24538.
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  • #2,136
  • Dec 16, 2016 9:56am Dec 16, 2016 9:56am
C inside B

BC poor high
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  • #2,137
  • Dec 16, 2016 10:31am Dec 16, 2016 10:31am
Quoting Lock
16:51+1GMT For pit session remember that yes action left above a weak high at 24974 (tagging preUS high) plus a minus dev up to 2477. While below pit didn't tested its weekly balance low at 23623. For now we are balancing: but in case of action you know where it could eventually go. Current pit profile is weak below and above. Below A low at exact ref, B low at half back, C low at half back+open. Above B high at GB open. Note also preUS high weak at yes...
Quoting Lock
C inside B BC poor high
17:31+1GMT
Break from C balance period. BC poor high removed.

You are watching a short covering: yes min dev filled. Monitor for continuation and carry all the information left dowside forward.

We are now in the last period of London. And price is exactly at yes GB unch
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  • #2,138
  • Dec 16, 2016 10:33am Dec 16, 2016 10:33am
You want to see acceptation above GB high (overnight high) if not: all the way back downside in oreder to correct weaknesses left there.
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  • #2,139
  • Dec 16, 2016 11:05am Dec 16, 2016 11:05am
Quoting Lock
You want to see acceptation above GB high (overnight high) if not: all the way back downside in oreder to correct weaknesses left there.
Acceptation above overnight high. It could also reach the triple pass gap above yesterday weak high. But if reached (yes weak high) I will be off my longs. Because below it is very weak. And it is Friday afternoon.
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  • #2,140
  • Dec 16, 2016 11:06am Dec 16, 2016 11:06am
Note also E inside period of D. So F is attempting a breakout. If failed , initial natural target opposite side of E. If continuation you know where the targets are.
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