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Lock's Cable Corner

  • #2,181
  • Dec 19, 2016 11:17am Dec 19, 2016 11:17am
Quoting Lock
As you see the weak action is currently attracted by the nearest major composite poc at 2429, as written multiple times from this early morning.
and how do you calculate the "composite" POC ?
  • #2,182
  • Dec 19, 2016 3:00pm Dec 19, 2016 3:00pm
Quoting Zaak
{quote} and how do you calculate the "composite" POC ?
with a very common tool like this one
Best L.
Ubi maior minor cessat
  • #2,183
  • Dec 19, 2016 3:01pm Dec 19, 2016 3:01pm
Quoting Zaak
{quote} yes I see, like pivot points, I was confused a wee bit there (narrow vision). thanks for making clear.

You're welcome.
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  • #2,184
  • Dec 20, 2016 1:24am Dec 20, 2016 1:24am
16/12/20 TUESDAY 08:24+1GMT (edited untill 08:29)
EARLY MORNING REPORT

Yesterday the pit session managed to fill the new gap downside and settled around the same level of yesterday GB session unchanged, meaning inside Friday daily range. Now, because Friday was an inside day (inside Thursday range) we could consider yesterday as a failed attempted breakout downside. Also the amount of weaknesses left above is now very impressive: a GB poor high at 24988, a pit poor high at 24268 and the current Tokyo poor high at 2408.
Plus we have 2 minus development left by yesterday Gb session that has also a very elongated profile.
All this let me imagine some sort of correction and, potentially, the entire retracement of Friday range.

Obviously we have to see what the market is ready to give us, so let's take it a piece at a time.
Important references are substancially the same as yesterday: the major composite poc is at 2417, the half back of the entire up move from 10.25 is at 2428 (right below the poc),the pit weekly balance low is at 23623 while the GB weekly balance low is at 23115/7, etc: see yesterday report to have other refs above and below if you need them.

For upcoming GB session the yesterday unch is at 23923 while the yes close is at 24185. Yesterday open is far above at 24854. Note that the only way to eventually temporarily skip all the weaknesses left above could be a new gap downside at open (and not retraced quickly). And considering the current price location (we are slightly below yesterday GB range low) it is not impossible.
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  • #2,185
  • Dec 20, 2016 1:47am Dec 20, 2016 1:47am
thanks for TPO+Range Lock. what do the vertical blue and red lines signify?
  • #2,186
  • Dec 20, 2016 1:52am Dec 20, 2016 1:52am
Quoting Zaak
thanks for TPO+Range Lock
You're welcome. Anyway I'm not the author of the code. Best L.
Ubi maior minor cessat
  • #2,187
  • Dec 20, 2016 2:19am Dec 20, 2016 2:19am
23887 is the lowest GB close for December(12.15 GB low): for any meaningfull correction upside we need to close the new GB gap downside plus have acceptation above this level. If not..
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  • #2,188
  • Dec 20, 2016 2:37am Dec 20, 2016 2:37am
GB period B is the last for Tokyo: lowest Dec Tokyo close at 24324, yes Tokyo close at 24863 while today Tokyo unch is exactly here (GB open)
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  • #2,189
  • Dec 20, 2016 2:52am Dec 20, 2016 2:52am
Quoting Zaak
thanks for TPO+Range Lock. what do the vertical blue and red lines signify?
The time range of the bars considered for the composite profile: from this date to this date is their meaning. Try to move them and you will see.
Ubi maior minor cessat
  • #2,190
  • Dec 20, 2016 2:54am Dec 20, 2016 2:54am
2 pips gap downside still in place. poor low, weak B period high at half back and B inside A.
Ubi maior minor cessat
  • #2,191
  • Dec 20, 2016 3:09am Dec 20, 2016 3:09am
Very narrow balance: it should unfold from here.
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  • #2,192
  • Dec 20, 2016 3:42am Dec 20, 2016 3:42am
Well. Sometimes a bad thing like this happens.
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  • #2,193
  • Dec 20, 2016 3:43am Dec 20, 2016 3:43am
They are selling any rally at weak refs. Very dangerous behaviour.
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  • #2,194
  • Dec 20, 2016 3:54am Dec 20, 2016 3:54am
poor high, poor low, 18 pips range, all periods above open, 2 pips of gap downside left: no participation at all for now.
Ubi maior minor cessat
  • #2,195
  • Dec 20, 2016 4:04am Dec 20, 2016 4:04am
Watch out if it will remove the poor low and no follow through it: in this case the sellers will be punished.
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  • #2,196
  • Dec 20, 2016 4:06am Dec 20, 2016 4:06am
instead if the break occurs and succeeds the first visible target is the Gb weekly balance low at 23117
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  • #2,197
  • Dec 20, 2016 4:16am Dec 20, 2016 4:16am
11:16+1GMT
All what price left above up to yes GB poor high at 2499 is incredibly weak: carry this info forward if something will go wrong downside.
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  • #2,198
  • Dec 20, 2016 4:48am Dec 20, 2016 4:48am
23315 is the high of the inside 10.16 week (balance)
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  • #2,199
  • Dec 20, 2016 5:00am Dec 20, 2016 5:00am
Quoting Lock
23315 is the high of the inside 10.16 week (balance)
12:00+1GMT
It is the 10.19 GB high and it is important for Gb because it is the high of the first GB daily bracket after the break of 10.07. Exactly as yesterday pit session found an obstacle at the top of the first pit daily bracket high at 23573.

Different sessions mean different market participants and consequently different references to take care of. Below 23315 the first GB relevant ref is, as written, 23117, the weekly GB balance low (week 11.20 low)
Ubi maior minor cessat
  • #2,200
  • Dec 20, 2016 5:09am Dec 20, 2016 5:09am
Quoting Lock
instead if the break occurs and succeeds the first visible target is the Gb weekly balance low at 23117
So this post is a red mistake: sorry for that, I was focusing on the upper bracket and consequently I did't consider with the needed effort the previous initial bracket.
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