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Lock's Cable Corner

  • #2,661
  • Edited 5:51am Jan 20, 2017 5:38am | Edited 5:51am
Quoting YardiFX
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
I'm still in even if I scaled out a lot from start. I also put an other short above composite the poc 2285 (when I saw acceptation below yes GB close 2300) and my stops are right above it (above the composite poc). The ultimate reason for that is the Tokyo poor low tagging the pit poor low around 22525: I think it is too weak to resist. In any case I'm monitoring the situation and ready to buy if there will be nothing below this level. Or if for some reason price will not reach it at all.

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Ubi maior minor cessat
  • #2,662
  • Jan 20, 2017 5:49am Jan 20, 2017 5:49am
Quoting Lock
{quote} I'm still in even if I scaled out a lot from start. I also put an other short above composite the poc 2285 (when I saw acceptation below yes GB close 2300) and my stops are right above it (above the composite poc). The ultimate reason for that is the Tokyo poor low tagging the pit poor low around 22525: I think it is too weak to resist. In any case I'm monitoring the situation and ready to buy if there will be nothing below this level. Or if for some reason price will not reach it at all.
i might join you in taking that position but my main interest is in buying...to 1.2390 where i would look to short until 1.2088 long term trading of course
Peace & Pips
  • #2,663
  • Jan 20, 2017 5:54am Jan 20, 2017 5:54am
Quoting YardiFX
{quote} i might join you in taking that position but my main interest is in buying...to 1.2390 where i would look to short until 1.2088 long term trading of course

Fine. It's possible. Anyhow, note that 24145 is at risk too as it is a poor pit high. Mid term, if any, could be above it, not below it. Short term could be below it instead. But let's see. Everything can happen before.
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  • #2,664
  • Jan 20, 2017 6:00am Jan 20, 2017 6:00am
Quoting Lock
{quote} Fine. It's possible. Anyhow, note that 24145 is at risk too as it is a poor pit high. Mid term, if any, could be above it, not below it. Short term could be below it instead. But let's see. Everything can happen before.
lets take it day by day today has been good , yesterday was good but very tricky to see what they were up to
Peace & Pips
  • #2,665
  • Jan 20, 2017 6:02am Jan 20, 2017 6:02am
Quoting Lock
{quote} Fine. It's possible. Anyhow, note that 24145 is at risk too as it is a poor pit high. Mid term, if any, could be above it, not below it. Short term could be below it instead. But let's see. Everything can happen before.
It left downside a new poor low at 2260. Now we got a very weak zone from 22525 to 2270: carry this info forward.

PS: obviously when I saw price coming back to poc I closed anything above it but the first one at the top of GB range. I did not buy anyhow, because of the new GB poor low. I hope I was right.
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  • #2,666
  • Jan 20, 2017 6:05am Jan 20, 2017 6:05am
I'm off for a while, have a nice continuation. Best L.
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  • #2,667
  • Jan 20, 2017 6:05am Jan 20, 2017 6:05am
re entered at 1.2295. now will hold until 1.2230
Peace & Pips
  • #2,668
  • Jan 20, 2017 6:52am Jan 20, 2017 6:52am
Now, preUS is going to open and we are inside yesterday pit range and between two weak pit references: the yesterday poor high at 23434 and the Wednesday poor low at 22538 (also Tokyo poor low of Thursday). I'm almost flat right now. Let's see how US perticipants will react to current uncertain situation.
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  • #2,669
  • Jan 20, 2017 7:02am Jan 20, 2017 7:02am
Quoting Lock
Now, preUS is going to open and we are inside yesterday pit range and between two weak pit references: the yesterday poor high at 23434 and the Wednesday poor low at 22538 (also Tokyo poor low of Thursday). I'm almost flat right now. Let's see how US perticipants will react to current uncertain situation.

I forgot the new GB poor low obviously. At 2260.
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  • #2,670
  • Jan 20, 2017 7:37am Jan 20, 2017 7:37am
2289 is pit new year open
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  • #2,671
  • Jan 20, 2017 7:41am Jan 20, 2017 7:41am
Note B low at yes pit low + initial half back 22775.
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  • #2,672
  • Jan 20, 2017 7:51am Jan 20, 2017 7:51am
Remember also that we left above a 2 pips double pass gap resulting from the gap downside made during pit 01.18 (overlapping a remaining portion of the gap upside made during pit 01.17) and never filled by 01.19 pit session(it's just above Wednesday pit high at 23483). Carry this info forward for upcoming pit session.
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  • #2,673
  • Jan 20, 2017 8:03am Jan 20, 2017 8:03am
Note that preUS took out the stops above the weak I and J GB periods' highs at round 2300.
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  • #2,674
  • Jan 20, 2017 8:25am Jan 20, 2017 8:25am
Pit session is going to open inside yesterday pit range.
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  • #2,675
  • Jan 20, 2017 9:56am Jan 20, 2017 9:56am
For now we saw short covering of the GB short inventories, made by preUS and initial pit US. Note C inside B. If it will remain like this untill D, go with the break if any (above or below) and monitor for continuation. It could go upside to take out the poor highs or downside to do the same. It can also remain in balance obviously.
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  • #2,676
  • Jan 20, 2017 10:11am Jan 20, 2017 10:11am
It broke above: watch out if it will remove the first poor high and the 2 pips old gap and then there will be n continuation above them. In this case we could have a retracement back inside the 2 overlapping pit sessions.
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  • #2,677
  • Jan 20, 2017 10:11am Jan 20, 2017 10:11am
Obviously watch out also if there is no continuation above B C highs.
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  • #2,678
  • Jan 20, 2017 11:30am Jan 20, 2017 11:30am
Quoting Lock
It broke above: watch out if it will remove the first poor high and the 2 pips old gap and then there will be n continuation above them. In this case we could have a retracement back inside the 2 overlapping pit sessions.
So it took out (at the pip) the first poor high and the 2 pips old gap. The strange thing is that it only tagged the 2350 RN. For this reason I didn't short there. I don't know. Obviovsly the structure below is ugly and a correction is absolutly possible but I do not trust this market for now. Also I see too much volatility.
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  • #2,679
  • Jan 20, 2017 11:37am Jan 20, 2017 11:37am
Well, whatever the possible result of this situation, I'm off. It can continue the momentum upside in order to take out the upper poor high 24145, or retrace some and finish balancing. But anyway I don't want to lose my profit on Friday evening. Have a nice continuation and a great holiday.
Best, L.
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  • #2,680
  • Edited 5:50am Jan 23, 2017 5:31am | Edited 5:50am
If I'm seeing it right today we see price opened outside Range of yes. (last friday) GB-session. Market is out of Balance... So in basic we have two scenarios... 1) acceptance or 2) rejection: Well the GAP isn't quickly vanished So I think we have here acceptance.

In that case we have 2 possibilities:
1) continuing into the direction of the breakout
2) auction back and forth at the new levels
as long we are not back.. at yes GB range price is accepted!

At the moment we dit not breakout above 1.2471 (asian high). Also the current GB-session looks like a nicely balanced environment. So we are into Balance in the current GB-session => and so we need to work with balancing rules....

Hope I did make a good observation .... if not or how could I do better? please correct me
You can manage risk, but you can't manage the return
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