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Lock's Cable Corner

  • #2,141
  • Dec 16, 2016 11:12am Dec 16, 2016 11:12am
Well, in any case I'm off. See you next week. Have a nice continuation. Best L.
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  • #2,142
  • Dec 16, 2016 2:14pm Dec 16, 2016 2:14pm
Quoting Lock
{quote} I'll try to answer you this evening. Best L.
Hope you have still some time for answering my question.....
You can manage risk, but you can't manage the return
  • #2,143
  • Dec 19, 2016 12:44am Dec 19, 2016 12:44am
Quoting HappyMe
{quote} Hope you have still some time for answering my question.....
Markets go from balance to trend and from trend to balance continuously: this is the only thing a market can do. When price break outside a balance is searching for a new "fair" place where 2 side business can be conducted, meaning a new balance zone.
When a big valume (meaning highly participated) action develops in one direction and then stops at some point, the possibility of a new balance occurred. Then market participants need to define the "borders" of this new possible fair zone (the limits of the new balance): the first 2 high volume (meaning highly participated) directional moves will define these levels and so we could define these 2 first attempts in opposite direction as "benchmarks". The purpose of a benchmark is: how far can we go in a particular direction with a consistent participation? That's all. So if you look at the chart I posted you will see the "definition" I used here applied. Best L.
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  • #2,144
  • Edited 1:42am Dec 19, 2016 1:27am | Edited 1:42am
16/12/19 MONDAY 08:27+1GMT (edited untill 08:41)
EARLY MORNING REPORT

In the last 10 weeks we saw 3 balance overlapping one each other: all together they made a unique big bracket* where the high is slightly below the upper monthly bracket low at 27948 and the low is at 20883. Thursday we saw a break below the upper daily balance while Friday we got an inside day.
From this inside day we could expect a new break above or below in the next days starting with today.
Our most important levels are the main closest composite poc at 2429 that could attract price specially if it is leaded by weak hands (before a consistent breakout in a particular direction), the weekly breakeven at 25122 that could be re-tested, the monthly breakeven at 26345.
*Do not forget the half back of the entire move upside from 10.25 at 2428 (meaning the mid level of the entire big bracket): the major composite poc is substantially at this same level: and it is not a fortuity. This level is by far the most important one for today.

For upcoming GB session rememeber that the lowest low for December is at 2410, the lowest close for December is at 23887, Friday unch is at 24508 while Friday close is at 24756.
The weekly balance low (we are speaking about the GB low of week 11.20) is at 23115: because price established by Friday GB was below this week's breakeven (25122) the low of this week is a possible natural initial target. Note also that below this level we got the very poor Sydney low at 2296.

Friday GB made also a timid test upside with a little spike upwards where price closed below its base (base at 2454) I don't know if we could apply the spike rule in such a case but take note of this level anyhow.

Current Tokyo is developing above Friday GB high at 2464, so currently we have the possibility for a new upwards GB gap. Tokyo low is currently poor at 2466.

About Friday late afternoon:

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 GB low 24538.
As you see Friday pit session eventually managed to take out the weak high left by thursday at 24974 filling also some of the old pit gap downside.
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  • #2,145
  • Dec 19, 2016 1:51am Dec 19, 2016 1:51am
Note also that the lowest close of December for Tokyo is at 24324, slightly above the major composite poc: untill the second GB period end (today Tokyo close) this level could be significant in case of correction downside.

Also remember that 24437 is the high of the first weekly balance after the major breakdown of week 10.02: so it is an other important level for today.
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  • #2,146
  • Dec 19, 2016 2:55am Dec 19, 2016 2:55am
B inside A. New gap still in place. AB poor high. Balance rules apply if break will occurr.
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  • #2,147
  • Dec 19, 2016 3:01am Dec 19, 2016 3:01am
A & B lows weak at Friday GB close, current C low weak at open. (sorry for the edit 10:03) Still poor high
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  • #2,148
  • Dec 19, 2016 3:17am Dec 19, 2016 3:17am
Attempted break above. C high weak at round 2500. Very uncertain situation because it is weak above and below. Below we still have the new gap anyway as support. Also we have the buying tail made by A. So we got 2 excess below going upwards. But I see a lot of uncertainty. Look at how many times price went up and down open price level.
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  • #2,149
  • Dec 19, 2016 3:22am Dec 19, 2016 3:22am
For any meaningfull continuation upside you need acceptation above overnight high (Tokyo high ) asap. If not...
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  • #2,150
  • Dec 19, 2016 3:31am Dec 19, 2016 3:31am
Hi guy can someone please tell me how to divide a profit of one trade using a MT4 eg 25% 25% then 50% in a single trade? because you found out that when the candlestick is about to hit you take profit point then its just reverse. please help
Example:
Sell 10,000 GBP/USD at 1.55
Stop Loss = 10,000 at 1.5550
Take Profit 1 = 5,000 at 1.5450
Take Profit 2 = 5,000 at 1.54
  • #2,151
  • Dec 19, 2016 3:39am Dec 19, 2016 3:39am
Quoting Lock
A & B lows weak at Friday GB close, current C low weak at open. (sorry for the edit 10:03) Still poor high
10:39+1GT
It was too weak: C low taken out and B low tagged (now weaker than before).

Note that we left a poor high at round 2500: carry this info forward.

Note that the balance rules applied well in this case: C attempted above B balance inside period, failed above it and here we are at the opposite side of B. But this does not mean it's necessarily over above. It is still a very uncertain situation right now. Watch out.
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  • #2,152
  • Dec 19, 2016 3:46am Dec 19, 2016 3:46am
Quoting Lock
{quote} 10:39+1GT It was too weak: C low taken out and B low tagged (now weaker than before). Note that we left a poor high at round 2500: carry this info forward. Note that the balance rules applied well in this case: C attempted above B balance inside period, failed above it and here we are at the opposite side of B. But this does not mean it's necessarily over above. It is still a very uncertain situation right now. Watch out.
10:45+1GMT
3 options here:

  1. it will not able to fill the gap (in this case all the way up).
  2. it will fill the gap and the game will be over downside after that (all the way up again).
  3. it will fill the gap and will find acceptation inside Friday Gb range: in this case we could go at the opposite side of Friday GB at least.

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  • #2,153
  • Dec 19, 2016 3:49am Dec 19, 2016 3:49am
Quoting Lock
{quote} 10:39+1GT It was too weak: C low taken out and B low tagged (now weaker than before). .....
obviously taken out.
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  • #2,154
  • Dec 19, 2016 3:53am Dec 19, 2016 3:53am
Quoting Lock
{quote} 10:45+1GMT 3 options here: .1. it will not able to fill the gap (in this case all the way up).2 it will fill the gap and the game will be over downside after that (all the way up again).3 it will fill the gap and will find acceptation inside Friday Gb range: in this case we could go at the opposite side of Friday GB at least.

10:52+1GMT Gap filled: 2 and 3 are now possible.
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  • #2,155
  • Dec 19, 2016 5:17am Dec 19, 2016 5:17am
Quoting Lock
{quote} 10:45+1GMT 3 options here: it will not able to fill the gap (in this case all the way up). it will fill the gap and the game will be over downside after that (all the way up again). it will fill the gap and will find acceptation inside Friday Gb range: in this case we could go at the opposite side of Friday GB at least.
Quoting Lock
{quote} 10:52+1GMT Gap filled: 2 and 3 are now possible.
Periods D and E closed below Friday GB range high, consequently we got acceptation inside Friday GB range. And as you see we retraced more than 50% of it. Note atha we are now at main composite poc that as you re-read the early morning report should attract price specially in the case of weak hands ruling the market. Exactly what happened in this session.
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  • #2,156
  • Dec 19, 2016 5:19am Dec 19, 2016 5:19am
Quoting Lock
16/12/19 MONDAY 08:27+1GMT (edited untill 08:41) EARLY MORNING REPORT ...*Do not forget the half back of the entire move upside from 10.25 at 2428 (meaning the mid level of the entire big bracket): the major composite poc is substantially at this same level: and it is not a fortuity. This level is by far the most important one for today. .....
Also as written in the report 2428 was the most important reference for today and as you see current G low tagged it at the pip.
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  • #2,157
  • Dec 19, 2016 5:23am Dec 19, 2016 5:23am
Quoting BigbBelt
Hi guy can someone please tell me how to divide a profit of one trade using a MT4 eg 25% 25% then 50% in a single trade? because you found out that when the candlestick is about to hit you take profit point then its just reverse. please help Example: Sell 10,000 GBP/USD at 1.55 Stop Loss = 10,000 at 1.5550 Take Profit 1 = 5,000 at 1.5450 Take Profit 2 = 5,000 at 1.54

It's totally off topic. Anyway try to use an order panel like Vr. Stealth pro (ther is a gratis version of it). You can split your orders with one of them. Let's say you have 3 lots in your sell, then you may scale out closing let's say 2 lot when your first target has been reached. Please, anyway, do not continue here about this topic. Best L.

PS: but obviously you can also do it in a more complex way directly with mt4: go on the order line, right mouse: modify: then inside the order panel close the order partially. See mt4 documentation for details.
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  • #2,158
  • Dec 19, 2016 6:40am Dec 19, 2016 6:40am
Quoting Lock
{quote} 10:45+1GMT 3 options here: it will not able to fill the gap (in this case all the way up). it will fill the gap and the game will be over downside after that (all the way up again). it will fill the gap and will find acceptation inside Friday Gb range: in this case we could go at the opposite side of Friday GB at least.
Quoting Lock
{quote} {quote} Periods D and E closed below Friday GB range high, consequently we got acceptation inside Friday GB range. And as you see we retraced more than 50% of it. Note atha we are now at main composite poc that as you re-read the early morning report should attract price specially in the case of weak hands ruling the market. Exactly what happened in this session.
100% retracement of Friday Gb session: first natural target reached.

We have now a weak low as it is a tag of Friday GB low and a poor low as it is HI periods low.
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  • #2,159
  • Dec 19, 2016 6:45am Dec 19, 2016 6:45am
Quoting Lock
{quote} {quote} 100% retracement of Friday Gb session: first natural target reached. We have now a weak low as it is a tag of Friday GB low and a poor low as it is HI periods low.
Note that USDX did exactly the same thing but in the opposite direction: opened with a gap downside, filled it and currently retracing Friday GB session range upside.
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  • #2,160
  • Dec 19, 2016 6:46am Dec 19, 2016 6:46am
Quoting Lock
{quote} {quote} 100% retracement of Friday Gb session: first natural target reached. We have now a weak low as it is a tag of Friday GB low and a poor low as it is HI periods low.
Taken out: watch out because I was inside period of H. If it will fail below ...
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