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Lock's Cable Corner

  • #2,281
  • Jan 4, 2017 11:59pm Jan 4, 2017 11:59pm
17/01/05 THURSDAY 08:59+1GMT
EARLY MORNING REPORT

So as written yesterday we had good odds to see the new GB session outside in some direction from yesterday GB inside session. And here we are above it. Now, if price will remain around here untill open we will have a substantial gap upside from yesterday GB session range high at 2290. If this gap will be preserved we could aim higher, if retraced (quickly) we could see a complete reversal of yesterday GB session and eventually test down to 22465 (GB 01.03 low). Note that below that we still have the double pass GB gap down to 2193.
Anyway consider that the context is: monthly balance, weekly mid term one timeframing trend lower, daily balance and finally the very short term trend up: so do not forget the context.
If we come down the main important refs are still the two biggest composite pocs at 2285 and 2233.

Note that current Tokyo high is exactly at pit weekly balance low 23623 (pit 11.23 low)
Finally note that Tokyo liquidate completely itself in this last period: so the long inventories made by Tokyo tonight are already corrected.

Remember what we wrote yesterday about balance: are we inside balance or out side balance? what about your expectations if price is outside balance? When you generally have to act when outside balance? Earlier or later?

Have a nice trading day.
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  • #2,282
  • Jan 5, 2017 12:04am Jan 5, 2017 12:04am
23117 is the GB weekly balance low from 11.21
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  • #2,283
  • Jan 5, 2017 12:25am Jan 5, 2017 12:25am
Quoting Lock
17/01/05 THURSDAY 08:59+1GMT EARLY MORNING REPORT ... If we come down the main important refs are still the two biggest composite pocs at 2285 and 2233. ....
09:25+1GMT
Gap filled, and here we are around 2285: now here we got 2 possibilities. The game was only "go down and correct the gap", then we may expect a reaction just here below gap low, or there is more donwside and then we are going to retrace completely yesterday GB session range.
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  • #2,284
  • Jan 5, 2017 1:27am Jan 5, 2017 1:27am
C inside B.
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  • #2,285
  • Jan 5, 2017 1:49am Jan 5, 2017 1:49am
Quoting Lock
C inside B.
..and breakout above C. Now monitor for continuation. Note current A/D poor high.

olso note where we are back:

Quoting Lock
23117 is the GB weekly balance low from 11.21
for any meaningfull continuation upside we need acceptation above this level. If not we are probably going to fill with volume the today already filled gap space.
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  • #2,286
  • Jan 5, 2017 1:53am Jan 5, 2017 1:53am
Quoting Lock
{quote} 09:25+1GMT Gap filled, and here we are around 2285: now here we got 2 possibilities. The game was only "go down and correct the gap", then we may expect a reaction just here below gap low, or there is more donwside and then we are going to retrace completely yesterday GB session range.
For now all what we saw was infact liquidation and rejection below the new gap. So for now we are in the first scenario.
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  • #2,287
  • Jan 5, 2017 2:19am Jan 5, 2017 2:19am
Quoting Lock
{quote} ..and breakout above C. Now monitor for continuation. Note current A/D poor high. olso note where we are back: {quote} for any meaningfull continuation upside we need acceptation above this level. If not we are probably going to fill with volume the today already filled gap space.
As you see after the initial failure above 23117, price is currently filling with volume the already filled area of today new GB gap upside, from yesterday GB high to today GB open: up > down > up....
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  • #2,288
  • Jan 5, 2017 2:26am Jan 5, 2017 2:26am
11:26+1GMT
Then, let's see what it will do after the filling with volume. For now E period is inside D period.
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  • #2,289
  • Jan 5, 2017 2:31am Jan 5, 2017 2:31am
Quoting Lock
23117 is the GB weekly balance low from 11.21
Please, again, note how important this level is for current GB session: E period high tagging it exactly as current F period high too.
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  • #2,290
  • Jan 5, 2017 2:48am Jan 5, 2017 2:48am
Quoting Lock
{quote} As you see after the initial failure above 23117, price is currently filling with volume the already filled area of today new GB gap upside, from yesterday GB high to today GB open: up > down > up....
Note that during the filling with volume process, F period high went 1 single pip below today GB open...
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  • #2,291
  • Jan 5, 2017 2:50am Jan 5, 2017 2:50am
Now, because F period failed above inside period E, the natural initial direction is the opposite side of E balance. And you saw this continuously. Balance, failure above or below it, then natural direction to the opposite side of balance.
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  • #2,292
  • Jan 5, 2017 2:51am Jan 5, 2017 2:51am
So , just to recap: A/D poor high and F period high weak at today open. Still inside the volume filling process.
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  • #2,293
  • Jan 5, 2017 2:58am Jan 5, 2017 2:58am
Quoting Lock
{quote} As you see after the initial failure above 23117, price is currently filling with volume the already filled area of today new GB gap upside, from yesterday GB high to today GB open: up > down > up....
Again at yesterday GB high...
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  • #2,294
  • Jan 5, 2017 3:00am Jan 5, 2017 3:00am
Quoting Lock
Now, because F period failed above inside period E, the natural initial direction is the opposite side of E balance. And you saw this continuously. Balance, failure above or below it, then natural direction to the opposite side of balance.
And here we are also at the opposite side of E period balance...
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  • #2,295
  • Jan 5, 2017 3:04am Jan 5, 2017 3:04am
So, consider the big edge you have against your competitors if you see and accept market generated information: most of traders, unaware of MGI, have no idea of what is going on, nor they are able consequently to take advantage of current situation.
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  • #2,296
  • Jan 5, 2017 3:09am Jan 5, 2017 3:09am
Lock, the uk auction session for example is interrupted by the us opening. what I'm wondering and have been watching for is, does the uk auction session complete the auction process as a complete and independant uk auction or/ and does it become part of a wider, bigger auction process that includes us, tokyo, sydney - becoming a complete uk, us tokyo & sydney auction - before moving on to a new auction. and I'm now thinking it does both and more or less.
  • #2,297
  • Edited 3:29am Jan 5, 2017 3:18am | Edited 3:29am
Quoting Zaak
Lock, the uk auction session for example is interrupted by the us opening. what I'm wondering and have been watching for is, does the uk auction session complete the auction process as a complete and independant uk auction or/ and does it become part of a wider, bigger auction process that includes us, tokyo, sydney - becoming a complete uk, us tokyo & sydney auction - before moving on to a new auction. and I'm now thinking it does both and more or less.
Smart question. Sessions overlap and consequently also market participant's intentions overlap too. Tokyo participants went out of market at B period close (of GB session) as GB participants will be out at pit E period close. You have to expect sometime the same opinion and the same intentions in the overlapping periods and sometime conflicting opinions and intentions. Obviously sometime GB participants will prevale, sometime US participants will do, etc. To understend the possible objectives of the different participants and which of them have the biggest odds to succeed is exactly our/your work here.

Let me add a very important thing here: the timeframes involved are obviously as much as significant. You could have weak hands US participants overwelmed by GB bigger term timeframe participants or almost infinite combinations as this example: US strong hands prevaling over GB weaker hands, Tokyo strong hands prevaling over US weaker hands, etc. etc.

For instance: who is dominating current GB session? Strong participants or very narrow term weaker hands? Considering the exactness of the references used during current GB session, we are pretty sure that this GB session is dominated by weak hands. So what if at US open we will see strong US participants antering the market? What about current references above and below? Probably in this particular case we will see stronger US hands punish the currently weaker hands ruling this session. Obviously this is only a possible example.
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  • #2,298
  • Jan 5, 2017 3:41am Jan 5, 2017 3:41am
Quoting Lock
{quote} Smart question. Sessions overlap and consequently also market participant's intentions overlap too. Tokyo participants went out of market at B period close (of GB session) as GB participants will be out at pit E period close. You have to expect sometime the same opinion and the same intentions in the overlapping periods and sometime conflicting opinions and intentions. Obviously sometime will prevale GB participants, sometime US participants etc. To understend the possible objectives of the different participants and which of them have the...

yup, participant timeframes are all shapes and sizes and a perfect distribution is a graphic. it's probabilities and possibilities. thank you. it's fascinating what the uk session is doing now, pasting in the gap like that bang on the previous uk session close and the tokyo close. I guess what I want to do is to be able to merge the sessions and see what it looks like, thanks again.
  • #2,299
  • Jan 5, 2017 3:56am Jan 5, 2017 3:56am
Quoting Zaak
{quote} yup, participant timeframes are all shapes and sizes and a perfect distribution is a graphic. it's probabilities and possibilities. thank you. it's fascinating what the uk session is doing now, pasting in the gap like that bang on the previous uk session close and the tokyo close. I guess what I want to do is to be able to merge the sessions and see what it looks like, thanks again.
You're wellcome.
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  • #2,300
  • Jan 5, 2017 4:58am Jan 5, 2017 4:58am
also Lock, the TPO-Range indicator, I notice moving the red vertical makes all the difference so much so that there can be 4 or more levels. any advice on where best to locate it/ settings? again I thank you.
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