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Lock's Cable Corner

  • #2,821
  • Jan 26, 2017 6:38am Jan 26, 2017 6:38am
So, GB eventually saw the acceptation back inside yes range (2 periods closed below its high 2605) and it repaired (at least partially) all the 6 yesterday pit sesssion anomalies (at the pip). See previous post to visualize them. Now Gb is currently spiking downside but note that, in turn, it left above alredy 5 anomalies. And this is a clear demonstration of the fact that what we are seeing now is liquidation more than new money selling. So watch out because unless other timeframes will pile on this action, morphing it in somthing more, it is currently pretty weak.

About upcoming pit session, remember that the most important refs are the yesterday pull back low at 2594, the yesterday poor high at 2638 and obviously the pit November high at 26354 (above). Downside instead its most important levels are the yesterday pit gap upside at 2542-25545 and the cluster zone at 2500. Remember also that currently we do not have a good high for pit session as yesterday was a poor high (this does not mean it has to go upside right now and take it out imediately.)

Finally overnight inventories are currently net short. As yesterday pit unchanged is at 2633.

PS: Unless this last J period will do a substantial action downside, preUS is going to open inside yesterday pit range.
Ubi maior minor cessat
  • #2,822
  • Jan 26, 2017 6:59am Jan 26, 2017 6:59am
PreUS is going to open below yesterday pit pull back low test at 2594 and consequently below the yesterday pit upper distribution. Consider the space below it as a gap from session.
Ubi maior minor cessat
  • #2,823
  • Jan 26, 2017 7:58am Jan 26, 2017 7:58am
Quoting Lock
PreUS is going to open below yesterday pit pull back low test at 2594 and consequently below the yesterday pit upper distribution. Consider the space below it as a gap from session.
Do you see it? B period is trying to test inside yes pit upper distribution. And it is slightly below the pull back low.
Ubi maior minor cessat
  • #2,824
  • Jan 26, 2017 8:03am Jan 26, 2017 8:03am
Note C low at half back.
Ubi maior minor cessat
  • #2,825
  • Jan 26, 2017 8:06am Jan 26, 2017 8:06am
Quoting Lock
{quote} Do you see it? B period is trying to test inside yes pit upper distribution. And it is slightly below the pull back low.
C at second attempt.
Ubi maior minor cessat
  • #2,826
  • Jan 26, 2017 8:08am Jan 26, 2017 8:08am
Quoting Lock
PreUS is going to open below yesterday pit pull back low test at 2594 and consequently below the yesterday pit upper distribution. Consider the space below it as a gap from session.
Tagged.
Ubi maior minor cessat
  • #2,827
  • Jan 26, 2017 8:10am Jan 26, 2017 8:10am
Now for any meaningfull continuation upside we need acceptation above this 2594. If not, the liquidation could continue lower.

Then if also pit session will able to stay above it we could go and take out at least the yesterday pit poor high at 2638. If not..
Ubi maior minor cessat
  • #2,828
  • Jan 26, 2017 8:10am Jan 26, 2017 8:10am
Quoting Lock
{quote} C at second attempt.
and the next possible barriers are 1,2597 (halfback us-pit) then 1,2621 (value-high of last GB-seesion) (if the last breaks...possible 1,2674 could under attack again)

...maybe also 1.2607 (high GB-seesion of 25/01)...?
You can manage risk, but you can't manage the return
  • #2,829
  • Jan 26, 2017 8:20am Jan 26, 2017 8:20am
Quoting HappyMe
{quote} and the next possible barriers are 1,2597 (halfback us-pit) then 1,2621 (value-high of last GB-seesion) (if the last breaks...possible 1,2674 could under attack again) ...maybe also 1.2607 (high GB-seesion of 25/01)...?
Even though GB participants will be present till 18:00 +1GMT I suggest to take care of pit reference first. Pit refs above are, after the PBL at 2594, the yes poor high 2638, the Nov 2016 high 26345 (just below yes pit poor high) and, eventually, the 14.12.2016 pit poor high at 27225.

You could give more attention to GB refs just during the last GB period (E period). Obviously I'm excluding the overnight high and low that in this case are made by GB and are vital right now.
Ubi maior minor cessat
  • #2,830
  • Jan 26, 2017 8:26am Jan 26, 2017 8:26am
So pit US is going to open inside yes pit range but below its upper distribution, so we are out of balance from yesterday pit activity. This is very important because the game will be played around this simple fact: return into yesterday balance or accelerate below it.
Ubi maior minor cessat
  • #2,831
  • Jan 26, 2017 8:27am Jan 26, 2017 8:27am
Quoting Lock
{quote} Even though GB participants will be present till 18:00 +1GMT I suggest to take care of pit reference first. Pit refs above are, after the PBL at 2594, the yes poor high 2638, the Nov 2016 high 26 345 (just below yes pit poor high) and, eventually, the 14.12.2016 pit poor high at 27225. You could give more attention to GB refs just during the last GB period (E period)
you said...take care of pit reference first....why first the pit reference first? Because of the volume on this time...?
You can manage risk, but you can't manage the return
  • #2,832
  • Jan 26, 2017 8:29am Jan 26, 2017 8:29am
Because we are going to open the pit session and the pit session participants will take care of their business first and their will should be prevalent obeve others'.
Ubi maior minor cessat
  • #2,833
  • Jan 26, 2017 8:31am Jan 26, 2017 8:31am
Note that most traders have no idea whatsoever of the pull back low and its importance. So they have no idea of the reasons underneath the bounce at 2594.
Consider the edge you have instead. You know exactly* what this market is doing and why.

*well, at least a good approximation of it.
Ubi maior minor cessat
  • #2,834
  • Jan 26, 2017 8:36am Jan 26, 2017 8:36am
Quoting Lock
Note C low at half back.
Taken out.
Ubi maior minor cessat
  • #2,835
  • Jan 26, 2017 9:18am Jan 26, 2017 9:18am
Quoting Lock
Note that most traders have no idea whatsoever of the pull back low and its importance. So they have no idea of the reasons underneath the bounce at 2594. Consider the edge you have instead. You know exactly* what this market is doing and why. *well, at least a good approximation of it.

Here we are there again: 1 pip short of it.
Ubi maior minor cessat
  • #2,836
  • Jan 26, 2017 9:20am Jan 26, 2017 9:20am
Quoting Lock
{quote} Here we are there again: 1 pip short of it.
Do you see the struggle at this level?
Ubi maior minor cessat
  • #2,837
  • Jan 26, 2017 9:24am Jan 26, 2017 9:24am
Quoting Lock
{quote} Do you see the struggle at this level?

Yes

Best regards
Animum debes mutare non caelum
  • #2,838
  • Jan 26, 2017 9:28am Jan 26, 2017 9:28am
Quoting giorgio1448
{quote} Yes Best regards
You're welcome.
Ubi maior minor cessat
  • #2,839
  • Jan 26, 2017 9:28am Jan 26, 2017 9:28am
By the way current pit range is too narrow: it should unfold from here.
Ubi maior minor cessat
  • #2,840
  • Jan 26, 2017 9:32am Jan 26, 2017 9:32am
So we got a first rejection from yes PBL. It spent almost 3 periods above open. Huge indecision here, but the daily test above is done. Now it should test downside.
Ubi maior minor cessat
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