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Lock's Cable Corner

  • #2,441
  • Jan 12, 2017 9:22am Jan 12, 2017 9:22am
2289 is exactly the new year pit open. (B high). While instead B low is at half back: who is in control of this market currently?
Ubi maior minor cessat
  • #2,442
  • Jan 12, 2017 9:26am Jan 12, 2017 9:26am
Note also A low 1 pip above preUS low at 22553.
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  • #2,443
  • Jan 12, 2017 9:35am Jan 12, 2017 9:35am
Quoting Lock
Note also A low 1 pip above preUS low at 22553.
taken out.
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  • #2,444
  • Jan 12, 2017 9:37am Jan 12, 2017 9:37am
Note that pit opened inside yes pit range, tested above and went down again inside it: acceptation inside it could lead to a full correction of it. Rejection could lead to continuation upside or at least balance above nearest composite poc.
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  • #2,445
  • Jan 12, 2017 9:42am Jan 12, 2017 9:42am
Yesterday pit session afternoon pull back low is at 2189: this is the major reference downside to signal any meaningfull change. If price will develop value above it we could say that nothing has changed from yesterday. If instead we got acceptation below it we could understand that something more serious is occurring downside.

Yesterday unchanged is slightly above it at 2208. An other short term/day time frame reference.

Current C low 2222 is exactly the lowest December pit close.
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  • #2,446
  • Jan 12, 2017 9:50am Jan 12, 2017 9:50am
Quoting Lock
Note that pit opened inside yes pit range, tested above and went down again inside it: acceptation inside it could lead to a full correction of it. Rejection could lead to continuation upside or at least balance above nearest composite poc.
I'm speaking about the full correction of the upper distribution of yesterday pit session range: because yesterday was a double distribution trend day. Consider the 2 distributions as separate sessions.

The upper distribution low coincides with the afternoon pull back low at 2189.
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  • #2,447
  • Jan 12, 2017 9:55am Jan 12, 2017 9:55am
Quoting Lock
Yesterday pit session afternoon pull back low is at 2189: this is the major reference downside to signal any meaningfull change. If price will develop value above it we could say that nothing has changed from yesterday. If instead we got acceptation below it we could understand that something more serious is occurring downside. Yesterday unchanged is slightly above it at 2208. An other short term/day time frame reference. Current C low 2222 is exactly the lowest December pit close.
here we are at yesterday pit unch. Very elongated C period.
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  • #2,448
  • Jan 12, 2017 9:56am Jan 12, 2017 9:56am
2200 round number and Tokyo m30 periods' lows cluster overnight. It is weaker than before right now. Carry this info forward.
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  • #2,449
  • Jan 12, 2017 10:09am Jan 12, 2017 10:09am
Quoting Lock
{quote} here we are at yesterday pit unch. Very elongated C period.
almost 50% correction of C period.

Note 2234 is the other major composite poc of this price zone.
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  • #2,450
  • Jan 12, 2017 10:22am Jan 12, 2017 10:22am
First 3 pit periods closed above yes unchanged 2208 and above yes pull back low test at 2189. For now we have only seen the liquidation of the overnight inventories too long. And value is developing overlapping to higher from yesterday pit value. Only a fast acceptation below yes unchanged coud change this situation.
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  • #2,451
  • Jan 12, 2017 10:44am Jan 12, 2017 10:44am
Quoting Lock
2200 round number and Tokyo m30 periods' lows cluster overnight. It is weaker than before right now. Carry this info forward.
Taken out.

Note D inside C and the attempted breakout below D balance low: balance rules apply here but watch out anyhow because of the current value situation.
If we got no acceptation below yes unch 2208 and yes PBL 2189 value has not great possibilities to develop even overlapping to low from yesterday pit value.
Then if we got a failure below these levels and below D balance low the natural direction is the opposite side of D period initially and then eventually even higher to take out the weak B period high at year pit open 2289. (if C clean space will be filled up to A period low 2255.)
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  • #2,452
  • Jan 12, 2017 10:47am Jan 12, 2017 10:47am
If instead we will get acceptation below those levels, it will be a totally different story and we could aim at something really more serious to the downside.

Note that we are in E period, the last one for London: consequently have a look at the GB refs close to current price location. 22072 for instance is the lowest low of December for GB, while 22207 is the lowest close of Dec for GB.
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  • #2,453
  • Jan 12, 2017 11:19am Jan 12, 2017 11:19am
Quoting Lock
Yesterday pit session afternoon pull back low is at 2189: this is the major reference downside to signal any meaningfull change. If price will develop value above it we could say that nothing has changed from yesterday. If instead we got acceptation below it we could understand that something more serious is occurring downside. Yesterday unchanged is slightly above it at 2208. An other short term/day time frame reference. Current C low 2222 is exactly the lowest December pit close.
Tagged at the pip.
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  • #2,454
  • Jan 13, 2017 2:06am Jan 13, 2017 2:06am
Quoting Lock
17/01/12 THURSDAY 08:57+1GMT EARLY MORNING REPORT The triple pass GB gap 2193-21995 and the double pass GB gap 2193-22072 are currently below price and if GB will open around here, the triple pass one will become a 4 pass gap: it is very rare that such a condition could remain so without correction. Consequently carry forward this info. Remember, anyhow, that below 2087 we could halso have found mid term timeframes buyers. Surely we found short term traders.
They are now 5 pass and 4 pass !
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  • #2,455
  • Jan 13, 2017 2:17am Jan 13, 2017 2:17am
Quoting Lock
{quote} They are now 5 pass and 4 pass !
Good morning Lock, can you clarify what you mean by "pass".
  • #2,456
  • Jan 13, 2017 2:26am Jan 13, 2017 2:26am
Quoting Zaak
{quote} Good morning Lock, can you clarify what you mean by "pass".
I think Lock is referring to the gaps of the US pit and GB-session (days of gap existence....)
You can manage risk, but you can't manage the return
  • #2,457
  • Jan 13, 2017 2:39am Jan 13, 2017 2:39am
Quoting HappyMe
{quote} I think Lock is referring to the gaps of the US pit and GB-session (days of gap existence....)

Thanks for the help. In order to better clarify the concept: a pass means how many gaps overlaps one each other. The 2193-21995 is a gap made the 10.27-28.2016. Then after it has been established we got other 4 GB gaps overlapping it in the next days up to today. It is extremely rare to have a market space untested in so many occasions and consequently this zone generally attract price "inspection".
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  • #2,458
  • Jan 13, 2017 2:42am Jan 13, 2017 2:42am
Now, from yesterday low we got an other gap downside consequently the old GB gaps above current price location that have been overlapped altready 3 and 4 times became overlapped respectively 4 and 5 times. Remember anyhow that the last gap (currently downside) is for the current session, the more significant. So even if we go up to the test the old multi pass gaps, watch out! Because we could find serious sellers above them(if eventually price will filled those gaps obviously).
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  • #2,459
  • Jan 13, 2017 2:50am Jan 13, 2017 2:50am
Quoting Zaak
{quote} Good morning Lock, can you clarify what you mean by "pass".
Btw Good morning everyone.
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  • #2,460
  • Jan 13, 2017 2:52am Jan 13, 2017 2:52am
Quoting Lock
Now, from yesterday low we got an other gap downside consequently the old GB gaps above current price location that have been overlapped altready 3 and 4 times became overlapped respectively 4 and 5 times. Remember anyhow that the last gap (currently downside) is for the current session, the more significant. So even if we go up to the test the old multi pass gaps, watch out! Because we could find serious sellers above them(if eventually price will filled those gaps obviously).
and gaps in what ever session it is ,GB, Tokyo etc. require to be filed by the same period session, a GB gap is filled by GB session, Tokyo Gap is filled by Tokyo session etc. and can go back quite a few months.
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