Lock's Cable Corner | Page 131 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #2,601
  • Jan 19, 2017 4:01am Jan 19, 2017 4:01am
BRN 1:23000 break-out but too weak to continue upwards.

So, now I short mega lots @ 23000
  • #2,602
  • Jan 19, 2017 4:30am Jan 19, 2017 4:30am
Quoting Lock
Finally: note D period inside C. Go with the break if any. If it fails, natural direction opposite side of the balance D.
E inside D inside C.
Ubi maior minor cessat
  • #2,603
  • Jan 19, 2017 4:34am Jan 19, 2017 4:34am
Quoting zamans98
BRN 1:23000 break-out but too weak to continue upwards. So, now I short mega lots @ 23000
That was the break from Tokyo balance. And yes, I do not know if it can continue higher. Let's see. For now the first attempt above E /D balance failed.
Ubi maior minor cessat
  • #2,604
  • Jan 19, 2017 4:41am Jan 19, 2017 4:41am
The conflicting information here is that now we got acceptation above all our main refs around here. Specially the 23117 level. Let's see.
Ubi maior minor cessat
  • #2,605
  • Jan 19, 2017 4:47am Jan 19, 2017 4:47am
Quoting Lock
The conflicting information here is that now we got acceptation above all our main refs around here. Specially the 23117 level. Let's see.
now inching up slowly breaking 23117
  • #2,606
  • Jan 19, 2017 4:48am Jan 19, 2017 4:48am
Quoting Lock
The conflicting information here is that now we got acceptation above all our main refs around here. Specially the 23117 level. Let's see.
Second attempt: very tricky.
Ubi maior minor cessat
  • #2,607
  • Jan 19, 2017 4:50am Jan 19, 2017 4:50am
Quoting zamans98
{quote} now inching up slowly breaking 23117
If it fails above E/D is very probable.
Ubi maior minor cessat
  • #2,608
  • Jan 19, 2017 4:53am Jan 19, 2017 4:53am
Quoting Lock
{quote} Second attempt: very tricky.
Third attempt.
Ubi maior minor cessat
  • #2,609
  • Jan 19, 2017 5:06am Jan 19, 2017 5:06am
Quoting Lock
{quote} Third attempt.
Then it broke at the fourth time. It was very very tricky because of the heavy weaknesses left at half back downside. I do not know if it can continue above yes GB high. I'm in but ready to short if it will fail above it.(or below it)
Ubi maior minor cessat
  • #2,610
  • Jan 19, 2017 5:11am Jan 19, 2017 5:11am
Quoting Lock
{quote} Then it broke at the fourth time. It was very very tricky because of the heavy weaknesses left at half back downside. I do not know if it can continue above yes GB high. I'm in but ready to short if it will fail above it.(or below it)
Yes GB high 23415 tagged.
Ubi maior minor cessat
  • #2,611
  • Jan 19, 2017 5:17am Jan 19, 2017 5:17am
23395 is also the GB new year open.
Ubi maior minor cessat
  • #2,612
  • Jan 19, 2017 5:22am Jan 19, 2017 5:22am
Quoting Lock
23395 is also the GB new year open.
When it failed above it and below the yesterday GB high I went short again. Sincerly it was not easy. At all. Now let's see if it is able to retrace D and take out the half back weaknesses at 23085. G high is obviously weak as it is a perfect tag of yesterday GB high: carry this information forward if something will go wrong downside.
Ubi maior minor cessat
  • #2,613
  • Jan 19, 2017 5:42am Jan 19, 2017 5:42am
Quoting zamans98
{quote} now inching up (?) slowly breaking 23117
Quoting Lock
{quote} If it fails above E/D is very probable.
I'm sorry here: up? I read it "down" obviously. After the possible fail above E/D the natural target was D low clearly. Down at 23117/23085. And in fact here we are right there.
Ubi maior minor cessat
  • #2,614
  • Jan 19, 2017 5:44am Jan 19, 2017 5:44am
Note weak hands trying to buy again at the new half back, currently 2311.
Ubi maior minor cessat
  • #2,615
  • Jan 19, 2017 5:56am Jan 19, 2017 5:56am
Quoting Lock
...This is a short covering* for now: note the elongation of this initial A period. *It is covering the weak liquidation made by yesterday pit session.
As you see for now GB session profile is a perfect "p" shape: confirming the fact that it was with any probablility only a short covering.
Ubi maior minor cessat
  • #2,616
  • Jan 19, 2017 5:59am Jan 19, 2017 5:59am
Quoting Lock
Note weak hands trying to buy again at the new half back, currently 2311.
As yesterday pit session, today GB is ruled only by weak hands. Consequently I'm off for now.
Ubi maior minor cessat
  • #2,617
  • Jan 19, 2017 6:56am Jan 19, 2017 6:56am
Now, preUS is going to open inside yesterday pit range 22538-23483. The low is poor as it is poor the Tuesday pit high at 24145. Current GB is very weak below and above. Note that Tokyo tagged the pit poor low with its own poor low: so it is very weak.
Btw I did not understand the last 3 GB periods, because the new bounce at half back was really strange for me.
Ubi maior minor cessat
  • #2,618
  • Edited 7:26am Jan 19, 2017 7:05am | Edited 7:26am
As a final note for today GB session, consider that its range is inside yesterday GB range that was inside Tuesday GB range. So it is a full balance that could lead to a substantial breakout. But it is also a signal of huge indecision in this market.

About overnight inventories, note that they are currently almost 100% long from yesterday pit unchanged at 2258. It's a very important piece of information because: if the market is strong, even if the overnight inventories are long it could continue upwards. So in this case if you will not see a correction by upcoming pit session it will be a clear indication of a strong market. If instead the market is weak or neutral you should see a correction, at least partial, of those inventories. So if you will see a correction of overnight inventories you will know that the market is not particularly strong, or maybe it is even weak.

Note also that if the pit session will open around here all those who were selling yesterday below value in that very weak liquidation will be caught short in the hole: I mean that in this particular case they will find themselves under the water right at open and for this reason they could be forced to cover their still open shorts giving the market more impulse to the upside.
Ubi maior minor cessat
  • #2,619
  • Jan 19, 2017 7:41am Jan 19, 2017 7:41am
Quoting Lock
Also 2308 is the yesterday GB close level: an other important reference for short term timeframes. We need acceptation above it too for continuation. PS: note B period low at current half back 2296: carry this info forward.
Quoting Lock
{quote} Note D low exactly at current half back that coincides also with the yesterday GB close 23085. (also C low)
Eventually all the weaknesses around 23085 (C, D, E lows) and the B low at 2296 taken out. So, it was only waiting for a trigger in order to correct the GB short covering. That's all.
Ubi maior minor cessat
  • #2,620
  • Jan 19, 2017 7:46am Jan 19, 2017 7:46am
Note a nuance now: even if the overnight activity occurred almost 100% above yesterday pit unchanged level 2258, if preUS will manage to close at the bottom of current range we could consider overnight inventories as short. So in this particular case, if a correction has to occur it will be to the upside,in order to cover the too short inventories. So, let's see where pit is going to open and remember the 2 possibilities we could find at that moment in time.
Ubi maior minor cessat
17 traders viewing now