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Lock's Cable Corner

  • #2,501
  • Jan 16, 2017 5:48am Jan 16, 2017 5:48am
Quoting Zaak
{quote} UK US Open 13:00 US Pit Open 14:30 - Close 22:00 (and is also Sydney open)
Thanks for the help. Obviously it depends upon your GMT. Best L.
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  • #2,502
  • Jan 16, 2017 6:00am Jan 16, 2017 6:00am
Quoting Lock
{quote} Thanks for the help. Obviously it depends upon your GMT. Best L.
I guess we use yesterday data to predict price movement?

at what point do you generate a signal to buy or sell?

and is it the gap pass that signals to buy or sell?
  • #2,503
  • Jan 16, 2017 6:03am Jan 16, 2017 6:03am
Note that 2082 is the lowest pit low for 2016: today GB high is 1 single pip above this level.
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  • #2,504
  • Jan 16, 2017 6:42am Jan 16, 2017 6:42am
Quoting adetola99
{quote} I guess we use yesterday data to predict price movement? at what point do you generate a signal to buy or sell? and is it the gap pass that signals to buy or sell?
We do not predict price movements nor we provide entry/esc levels. We simply try to organize market generated information in order to develop indipendent decisions in our own trading approach. The market profile is a dynamic market data organizer and we use it in this way. Please, if you are interested in this matter, as a starting point, have a look to the market profile handbook. Best L.
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  • #2,505
  • Jan 16, 2017 6:58am Jan 16, 2017 6:58am
Today is US bank holiday so daytimeframes activity is expected for upcoming preUS and pitUS sessions. Do not trade this market if you're not experienced about day timeframe behaviour. Note that preUS is going to open with a substantial gap downside from Friday pitlow at 2119.
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  • #2,506
  • Jan 16, 2017 7:11am Jan 16, 2017 7:11am
Quoting Lock
{quote} We do not predict price movements nor we provide entry/esc levels. We simply try to organize market generated information in order to develop indipendent decisions in our own trading approach. The market profile is a dynamic market data organizer and we use it in this way. Please, if you are interested in this matter, as a starting point, have a look to the market profile handbook. Best L.
thank you
  • #2,507
  • Jan 16, 2017 7:54am Jan 16, 2017 7:54am
Quoting adetola99
{quote} thank you
You're welcome.
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  • #2,508
  • Jan 16, 2017 8:19am Jan 16, 2017 8:19am
we have a low excess downwards around 1.1986
We are now balancing ....

In my opinion we are missing a higher excess at the moment.... in this construction
So I'm waiting untill the current activity is shutting off....
You can manage risk, but you can't manage the return
  • #2,509
  • Jan 16, 2017 8:28am Jan 16, 2017 8:28am
Quoting Lock
Today is US bank holiday so daytimeframes activity is expected for upcoming preUS and pitUS sessions. Do not trade this market if you're not experienced about day timeframe behaviour. Note that preUS is going to open with a substantial gap downside from Friday pitlow at 2119.
Note C low at previous half back 20545 as pit US is going to open with a new gap lower.
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  • #2,510
  • Jan 16, 2017 8:30am Jan 16, 2017 8:30am
Quoting HappyMe
we have a low excess downwards around 1.1986 We are now balancing .... In my opinion we are missing a higher excess at the moment.... in this construction So I'm waiting untill the current activity is shutting off....

It's an excess made by Tokyo: do not forget it. Also we are speaking about an upcoming session that with any probability will be leaded by day timeframes traders. So, what ever the result we still do not have a good low. I mean, it could go higher from here but only in a weak way, if any.
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  • #2,511
  • Jan 16, 2017 8:33am Jan 16, 2017 8:33am
Our main ref above is clearly the 2082 level (2016 LOWEST LOW 16.10.25 pit low - daily bracket low). Above it we got the Friday pit low at 2121 but it's above the entire gap downside. Below our most important pit level is instead the 2037 new year lowest low.
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  • #2,512
  • Jan 16, 2017 8:42am Jan 16, 2017 8:42am
Above also the 2119 level is important because it is the lowest pit close of 2016. But again, it is above current gap downside. The game here is to understand if this new gap downside eill be preserved or not. Remember that a gap is a form of excess.
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  • #2,513
  • Jan 16, 2017 8:47am Jan 16, 2017 8:47am
Quoting Lock
Above also the 2119 level is important because it is the lowest pit close of 2016. But again, it is above current gap downside. The game here is to understand if this new gap downside eill be preserved or not. Remember that a gap is a form of excess.
Various scenarios are possible here:

  1. the filling of the gap and then back downside from above it. (meaning liquidation of overnight activity down to today Tokyo low as a direction)
  2. The filling of the gap and acceptation back inside Friday pit range: in this case we could aim at the higher composite poc 2163 or even the opposite side of Friday range 2224.
  3. A failure trying to fill the new gap downside, and in this case we could clearly aim at the bottom of today GB low 2018 (poor low).

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  • #2,514
  • Jan 16, 2017 8:55am Jan 16, 2017 8:55am
Quoting Lock
Our main ref above is clearly the 2082 level (2016 LOWEST LOW 16.10.25 pit low - daily bracket low). Above it we got the Friday pit low at 2121 but it's above the entire gap downside. Below our most important pit level is instead the 2037 new year lowest low.
As you see the first thing pit session did was a test above this level, as normal.
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  • #2,515
  • Jan 16, 2017 9:08am Jan 16, 2017 9:08am
Note current B low exactly at preUS open...
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  • #2,516
  • Jan 16, 2017 9:20am Jan 16, 2017 9:20am
Quoting Lock
{quote} Note C low at previous half back 20545 as pit US is going to open with a new gap lower.
Taken out.
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  • #2,517
  • Jan 16, 2017 9:53am Jan 16, 2017 9:53am
Quoting Lock
Note current B low exactly at preUS open...
And here we are back to it with C high: full day time frame environment. I'm off for today. See you tomorrow. Have a nice continuation. Best, L.
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  • #2,518
  • Jan 16, 2017 2:41pm Jan 16, 2017 2:41pm
Quoting Lock
Today is US bank holiday so daytimeframes activity is expected for upcoming preUS and pitUS sessions. Do not trade this market if you're not experienced about day timeframe behaviour. Note that preUS is going to open with a substantial gap downside from Friday pitlow at 2119.
Quoting Lock
Our main ref above is clearly the 2082 level (2016 LOWEST LOW 16.10.25 pit low - daily bracket low). Above it we got the Friday pit low at 2121 but it's above the entire gap downside. Below our most important pit level is instead the 2037 new year lowest low.

Note F period low just 1 single pip above our main ref downside 2037. And note also L and M period's lows clustering above F period low.
So as you note the levels we underlined today (2082 above and 2037 below) are containing exactly this pit session range.

Note that we left above a weak high at 2085 back to back with today GB session high, a weak cluster at open price 2072 by G and H periods' highs and finally a weak high at half back/preUS open made by J period at 2062.

So, as easily predicted considering the US bank holiday, the entire pit session has been ruled by day timeframes traders, using only very exact references to trade.
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  • #2,519
  • Jan 17, 2017 3:45am Jan 17, 2017 3:45am
17/01/17 TUESDAY 10:45 +1GMT
MORNING REPORT

We are still in an attempted breakout below November/December 2016 monthly balance low. We could consequently still consider this as long term trend downside. We are in a mid term trend downside as we are in 6 weeks one timeframing lower (except for one period 01.01.17 week).
On the daily base we are in a trading range made by the last 7 days starting with 09.01.17. And we are currently outside balance if we consider yesterday GB range 2018-2084. Infact current GB session gapped higher today.

Note anyhow that the Tokyo structure is particularly weak as it presents multiple anomalies on its profile and it shows a huge emotion in its behaviour. Generally I do not give a lot of attention to overnight profiles but in this case I think it worths it.

Current GB session went up and filled completely the yesterday gap downside and went well above its upper limit tagging 13.01 GB poc. Also in this action I see a lot of emotion. So now we have to monitor for continuation upside and if GB will not be able to obtain acceptation back inside Friday GB range (low at 2160) we have to consider the possibility of a substantial correction of what we have seen up to now. If instead we will get acceptation above Friday GB session low (so back inside its range) we could imagine a continuation upside up to its top at 22322.

Remember that for now we are against the two major trend that are both downside.

Note also that price is currently at the upper major composite poc 2163 that as normally in these situations, will tend to attract price. And we are before a mojor news event.

Finally take note of the fact that we left downside two back to back GB poor lows (today at 2113 and yesterday at 2018) and we still do not have a "good" all time low.
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  • #2,520
  • Jan 17, 2017 4:16am Jan 17, 2017 4:16am
Note E period low exactly at early morning high (A period high 2138): who is in control of this market?
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