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Lock's Cable Corner

  • #2,261
  • Jan 4, 2017 4:24am Jan 4, 2017 4:24am
Quoting HappyMe
{quote} Yes it was a surprise....for me.... I was focussed on the downside..... mhhh. I have to study the last post again....
The fact is that maybe you were not totally wrong: for the day time frame traders the market was clearly too short and the test below yesterday GB session was a confirmation of their assumption. But at the same time, probably the bigger timeframes are not involved in this move, because the refs used to come upwards are very exact, plus we still have not completed auctions downside. You have always to remember that generally different timeframes overlap together. What is good for one timeframe could be not good at all for an other timeframe. Remember also that this is a continuous two way auction.

Also note that current value is building overlapping to lower form yesterday GB value. And we trade value not price. The current upmove is against value: when you trade against value you have to be right immediately, you have not to give time to the market, because your position is clearly against the value trend.
Furthermore the mid term trend is downside (weekly and daily) so... let's see what preUS is going to do first. Then, let's see the pit session. Also remember that we are waiting for a main news this evening.
Ubi maior minor cessat
  • #2,262
  • Jan 4, 2017 4:28am Jan 4, 2017 4:28am
Thanks. got the handbook. wish me luck.
  • #2,263
  • Jan 4, 2017 4:29am Jan 4, 2017 4:29am
Quoting behram
Thanks. got the handbook. wish me luck.
Sure, I do. Best L.
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  • #2,264
  • Jan 4, 2017 5:05am Jan 4, 2017 5:05am
Note that today GB session range is inside yesterday GB range. Carry this information forward untill tomorrow, because tomorrow GB session could be find itself out of this balance.

Now: where current preUS opened? Inside yesterday preUS session range:isn't it? So what about your initial expectation? Initial acceptation of yesterday range and eventually tests above and/or below it. Obviously this is not a religious thing: it could go differently, maybe if price immediately will probe above or below yesterday range finding immediately acceptation below or above it. But at least your initial expectation has a base context instead of a vacuum.
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  • #2,265
  • Jan 4, 2017 5:13am Jan 4, 2017 5:13am
For upcoming pit session , note that we got two previous poor lows and two poor highs, so we are in a market without any confidence. This is the environment we are currently experiencing. So in a market like this, who are the main actors? Long timeframes or very short oriented daily timeframes? So which are the references that will be probably used by such market perticipants untill something bigger will happen eventually attracting new strong money?
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  • #2,266
  • Jan 4, 2017 6:12am Jan 4, 2017 6:12am
since Dec 14 the VA's of 18 sessions have been in or within two ticks of 2287 that's the most, VA rejected the high on Dec 30 and has found value lower since. I can post this chart if anyone is interested.

Dalton talks about a "mastery", that it's not a science. to me he is saying, learn the tools (commit them to your subconscious) study the market and let a "oneness" emerge, "nuance", edge.
  • #2,267
  • Jan 4, 2017 6:41am Jan 4, 2017 6:41am
Quoting Zaak
since Dec 14 the VA's of 18 sessions have been in or within two ticks of 2287 that's the most, VA rejected the high on Dec 30 and has found value lower since. I can post this chart if anyone is interested. Dalton talks about a "mastery", that it's not a science. to me he is saying, learn the tools (commit them to your subconscious) study the market and let a "oneness" emerge, "nuance", edge.
Sure post it.
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  • #2,268
  • Jan 4, 2017 6:45am Jan 4, 2017 6:45am
Now, pit opened above yesterday pit range (so gap upside) and right below the double pass pit gap (2295-23315).
Also pit session from 01.02 has a cluster poor high. Overall is a very weak environment, cearly searching for information. If the new gap will resists we could go higher and take out the poor high plus at least some portion of the double pass pit gap.

If the new gap is retraced we could have instead 2 scenarios: acceptation back inside yesterday pit session range(with the possibility of a full retracement of it at least down to the lower composite poc) or a clear rejection from yesterday pit session range just after the filling of the new gap.
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  • #2,269
  • Jan 4, 2017 6:53am Jan 4, 2017 6:53am
Quoting Lock
Now, pit opened above yesterday pit range (so gap upside) and right below the double pass pit gap (2295-23315). ....
Note also that 2295 cluster pit poor high is currently the yearly pit high: so it will be very rare to have such a weak/poor high as all time high for the year.
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  • #2,270
  • Edited 7:23am Jan 4, 2017 7:05am | Edited 7:23am
VA's moved to the left to fill any gaps. POC TPO count and date noted - comments / observations welcome
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-01-04 at 14.35.45.png Size: 84 KB
  • #2,271
  • Jan 4, 2017 7:11am Jan 4, 2017 7:11am
longer term cable will still go to 1.18-1.16-1.14 before giving a powerful bounce to 1.45-1.52-1.60
  • #2,272
  • Jan 4, 2017 7:43am Jan 4, 2017 7:43am
Quoting Zaak
VA's moved to the left to fill any gaps. POC TPO count and date noted - comments / observations welcome {image}
Well, interesting chart. I've to evaluate it.
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  • #2,273
  • Jan 4, 2017 7:54am Jan 4, 2017 7:54am
Quoting giveachance
longer term cable will still go to 1.18-1.16-1.14 before giving a powerful bounce to 1.45-1.52-1.60
1990 zone is clearly possible as it is the weak Sydney "all time" low. Then in order to revert substantially upside it could clearly create a long/mid term buying tale below that level (meaning an excess downside). So your forecast is inside the field of the possible scenarios. I cannot evaluate anyhow your reasons about other exact levels you wrote. Nor I can evaluate the correctness of the sequence you provide us.
Best L.
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  • #2,274
  • Jan 4, 2017 7:59am Jan 4, 2017 7:59am
Quoting Lock
..... If the new gap is retraced we could have instead 2 scenarios: acceptation back inside yesterday pit session range(with the possibility of a full retracement of it at least down to the lower composite poc) or a clear rejection from yesterday pit session range just after the filling of the new gap.
Quoting Lock
{quote} Note also that 2295 cluster pit poor high is currently the yearly pit high: so it will be very rare to have such a weak/poor high as all time high for the year.
16:59+1GMT
New gap upside filled and yesterday pit session range clearly rejected: the yearly pit high 2295 taken out.
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  • #2,275
  • Jan 4, 2017 8:02am Jan 4, 2017 8:02am
23013 is the pit daily bracket low from 11.18.
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  • #2,276
  • Jan 4, 2017 8:04am Jan 4, 2017 8:04am
23065 is the Tokyo 01.03 poor high
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  • #2,277
  • Jan 4, 2017 9:40am Jan 4, 2017 9:40am
Quoting Lock
Now, pit opened above yesterday pit range (so gap upside) and right below the double pass pit gap (2295-23315). .....
18:40+1GMT
the entire double pass pit gap has been filled. Even more than expected. Now we have a minus development if F period: for any meaningfull continuation upside it should be preserved. Far above we still have a couple of old pit poor highs (23904 and 24268) and a much closer Tokyo poor high 2346. But remember: we are still in one timeframing lower weekly trend (mid term trend): so this move is against current trend, consequently it can be considered a risky action.
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  • #2,278
  • Jan 4, 2017 9:44am Jan 4, 2017 9:44am
18:44
Plus also remember that we left downside 2 pit poor lows (21987 and 21365) and a lot of weaknesses made during different previous sessions.
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  • #2,279
  • Jan 4, 2017 10:47am Jan 4, 2017 10:47am
23142 is an old GB balance low from somewhere back
  • #2,280
  • Jan 4, 2017 1:50pm Jan 4, 2017 1:50pm
Quoting Lock
{quote} A lot: start with the market profile manual. Then read all the books made by Jim Dalton, P.Steidlmayer and T.Alexander. Then read and study all the articles you may find on the net done by these masters. Then watch and study all their webinars, multiple times. Then start with a demo account to made tests. Eventually start to build your real trading experience with a small account. Generally this process is a life-time one. But you should improve your skills...
Good tip to start with the "market profile manual" it's much better explained in first sight!!

I just started to read in it and t is much easier to understand....!! I follow that path you hinted for.
You can manage risk, but you can't manage the return
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