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Lock's Cable Corner

  • #2,641
  • Jan 20, 2017 4:09am Jan 20, 2017 4:09am
Shorted at 1.2352 will liquidate my position at 1.2220 Tuesdays half back.
Peace & Pips
  • #2,642
  • Jan 20, 2017 4:15am Jan 20, 2017 4:15am
Quoting YardiFX
Shorted at 1.2352
Fine: it is above the multi balance high at 2346. So you saw that there was no continuation above this level and consequently you put a short above it. Correct? In this case you are an "innovator": you are among those who understand the situation far before others. I sold below this level. When I saw price coming back inside the multi balance range: so in this case I was an "early adopter".
Ubi maior minor cessat
  • #2,643
  • Jan 20, 2017 4:17am Jan 20, 2017 4:17am
Nobody sold at the center of the 2 GB sessions balance or at the bottom of it?
Ubi maior minor cessat
  • #2,644
  • Jan 20, 2017 4:21am Jan 20, 2017 4:21am
Quoting Lock
{quote} Fine: it is above the multi balance high at 2346. So you saw that there was no continuation above this level and consequently you put a short above it. Correct? In this case you are an "innovator": you are among those who understand the situation far before others. I sold below this level. When I saw price coming back inside the multi balance range: so in this case I was an "early adopter".
Yes correct, but the move on Tuesday left so much anomalies behind that for any continuation up past 1.2414 would need some corrections to at least the half back on Tuesday which is at 1.2230.
Peace & Pips
  • #2,645
  • Jan 20, 2017 4:22am Jan 20, 2017 4:22am
Quoting Lock
Nobody sold at the center of the 2 GB sessions balance or at the bottom of it?
Those who sold above the mid price of the D period are the early majorities, while those who sold below it are the late majorities. Finally, those who sold at the bottom of it are the leggards.
Ubi maior minor cessat
  • #2,646
  • Jan 20, 2017 4:24am Jan 20, 2017 4:24am
Quoting YardiFX
{quote} Yes correct, but the move on Tuesday left so much anomalies behind that for any continuation up past 1.2414 would need some corrections to at least the half back on Tuesday which is at 1.2230.
It is absolutely possible. Let's see. Always taking this market a piece at a time. Now we need acceptation below the two overapping GB sessions, for any meaningfull further correction downside. Best L.
Ubi maior minor cessat
  • #2,647
  • Jan 20, 2017 4:30am Jan 20, 2017 4:30am
Quoting Richens
Lock - Great observations, however I think that drop was due to the figures that came out at 09:30 that where below expectations https://s24.postimg.org/tfswx56w5/UKDISFIG.jpg {image}

Thank you Richens for you appreciation. About the news I think that they could have triggered the action. But it was the underlying structure who let this action actually take place with such conviction. They tested above the multi balance, they found nothing there and then they know that they could sell without any meaningfull preoccupation left above.
Ubi maior minor cessat
  • #2,648
  • Jan 20, 2017 4:32am Jan 20, 2017 4:32am
In the meanwhile note that price skipped the yesterday Gb low for 2 pips.
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  • #2,649
  • Jan 20, 2017 4:33am Jan 20, 2017 4:33am
Note also the leggards ( who sold at the bottom of D period ) currently under water.
Ubi maior minor cessat
  • #2,650
  • Jan 20, 2017 4:33am Jan 20, 2017 4:33am
"GBP weakening slightly in the wake of the UK retail sales numbers, which has come in weaker than expected but which carries enough seasonal variation risk to discount this to some degree."

It will bounce nicely of those lows 2283 lows
  • #2,651
  • Jan 20, 2017 4:45am Jan 20, 2017 4:45am
Quoting Lock
Note also that yes GB close is at 2300: you want to have acceptation also below it.

Note the acceptation* below yes GB close at round 2300: it is only one data point but it is significant.

*def.: 2 m30 periods closed below a certain level.
Ubi maior minor cessat
  • #2,652
  • Jan 20, 2017 4:48am Jan 20, 2017 4:48am
Also note that for now we have two separate distributions. Infact a portion of the D period minus development is still there as a "clean" space between the upper (A B C periods range) and the lower (E F periods range) Gb distributions.
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  • #2,653
  • Jan 20, 2017 4:50am Jan 20, 2017 4:50am
Note also the 2285 composite poc attracting price action.
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  • #2,654
  • Jan 20, 2017 4:54am Jan 20, 2017 4:54am
Note anyhow a very important thing on the bigger scale: for now we have 4 GB sessions in a one timeframing higher action. In fact for now today low is above yesterday GB low that is above Wednesday GB low that is above Tuesday GB low: carry this information forward because unless price will interrupt this action we are still in a short term trend upside.
Ubi maior minor cessat
  • #2,655
  • Jan 20, 2017 5:10am Jan 20, 2017 5:10am
Still tagging yesterday GB low (with a poor low)
Ubi maior minor cessat
  • #2,656
  • Jan 20, 2017 5:15am Jan 20, 2017 5:15am
just reading the thread now, was preoccupied this morning
  • #2,657
  • Jan 20, 2017 5:23am Jan 20, 2017 5:23am
Quoting Lock
Note anyhow a very important thing on the bigger scale: for now we have 4 GB sessions in a one timeframing higher action. In fact for now today low is above yesterday GB low that is above Wednesday GB low that is above Tuesday GB low: carry this information forward because unless price will interrupt this action we are still in a short term trend upside.
No more one timeframing higher for GB sessions.
Ubi maior minor cessat
  • #2,658
  • Jan 20, 2017 5:24am Jan 20, 2017 5:24am
Quoting Zaak
just reading the thread now, was preoccupied this morning
There is no shame in not trading if you do not understand a particular market or if you averall are not feeling safe about current environment. Good choice.
Ubi maior minor cessat
  • #2,659
  • Jan 20, 2017 5:26am Jan 20, 2017 5:26am
Now we are below the 2 GB sessions balance. for any meaningfull continuation downside we need acceptation below Wednesday GB low at 22705.
Ubi maior minor cessat
  • #2,660
  • Jan 20, 2017 5:31am Jan 20, 2017 5:31am
Liquidate my positions 1.2265, will re enter if significant retrace takes place... I want to see what happens when we get to 1.2230
Peace & Pips
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