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Lock's Cable Corner

  • #2,881
  • Jan 27, 2017 8:02am Jan 27, 2017 8:02am
Overnight inventories are almost 100% short from yesterday pit unch at 23905. Unless a last rally of current preUS C this should be the inventories situation at pit open.
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  • #2,882
  • Jan 27, 2017 8:11am Jan 27, 2017 8:11am
Quoting Lock
Overnight inventories are almost 100% short from yesterday pit unch at 23905. Unless a last rally of current preUS C this should be the inventories situation at pit open.
That it made, so now inventories are neutral or even long just before open.
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  • #2,883
  • Jan 27, 2017 8:59am Jan 27, 2017 8:59am
Quoting Lock
..... A second possibility could be if price will open inside yesterday pit range. In this second case we could have 3 options: Remaining in balance doing nothing but rotation.
Pit opened in balance so we are in one of these 2 possibilities:

Quoting Lock
Test downside, taking out the yesterday poor low at 2563 and all or at least a portion of the old gap, coming back inside balance and continuing higher to the opposite side of the balance, meaning the last 2 back to back poor highs at 2638 (Wednesday pit) and at 2612 (yesterday pit).
Quoting Lock
Test downside, find acceptation below yesterday pit low at 2563 and continue lower, with a minimum of acceleration. .....
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  • #2,884
  • Jan 27, 2017 9:07am Jan 27, 2017 9:07am
Wednesday ppit low tagged. Do you see the struggle there?
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  • #2,885
  • Jan 27, 2017 9:10am Jan 27, 2017 9:10am
Watch out because even if the best opportunity might come from a test also below wednesday pit low it could also come back inside yes pit without this test.
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  • #2,886
  • Jan 27, 2017 9:37am Jan 27, 2017 9:37am
Huge indecision at open. It is the second pit session in a raw like that.
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  • #2,887
  • Jan 27, 2017 9:43am Jan 27, 2017 9:43am
Very weak and difficult market: no sign of bigger timeframes at all for now. I'm buying this thing but I'm ready to liquidate it if I will not see acceptation inside yesterday pit.
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  • #2,888
  • Jan 27, 2017 9:52am Jan 27, 2017 9:52am
3 Poor high in a row: if they resist it means that this market is extremely long and need a substantial liquidation in order to find new money buyers.
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  • #2,889
  • Jan 27, 2017 9:59am Jan 27, 2017 9:59am
Quoting Lock
3 Poor high in a row: if they resist it means that this market is extremely long and need a substantial liquidation in order to find new money buyers.

And here it is the liquidation. Very tricky market.
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  • #2,890
  • Jan 27, 2017 10:00am Jan 27, 2017 10:00am
Gap filled.
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  • #2,891
  • Jan 27, 2017 10:01am Jan 27, 2017 10:01am
Now, again, if there is not continuation below the filled gap, it could easily retrace to take out the 3 poor highs in a row.
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  • #2,892
  • Jan 27, 2017 10:29am Jan 27, 2017 10:29am
During this liquidation it took out the preUS poor low and went back inside its range. Now it is the last period for London (E period) and we are near to GB unch of today.
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  • #2,893
  • Jan 27, 2017 10:34am Jan 27, 2017 10:34am
Quoting Lock
Gap filled.
pls explain how to spot gap in market
  • #2,894
  • Jan 27, 2017 10:35am Jan 27, 2017 10:35am
Long overnight inventories, btw, are already corrected by this last liquidation.
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  • #2,895
  • Jan 27, 2017 10:36am Jan 27, 2017 10:36am
Well it was good day today... again I learned some things...or better "I solved apart of the puzzle again"

Have nice continuation, evening and weekend!
You can manage risk, but you can't manage the return
  • #2,896
  • Jan 27, 2017 10:39am Jan 27, 2017 10:39am
Quoting adetola99
{quote} pls explain how to spot gap in market
It's the possible clean space between the low or the high of the previous session and the open price of the next one. Sessions has to be the same: GB compared with GB, US pit with US pit)

For instance Tuesday pit session has its high at 2542. Wednesday pit session opened at 25635: the space between these two references is the gap. Then if the new session moves against the gap the gap will be reduced accordingly. For instance, Wednesday made its low at 25545 and so the final gap for the day was 2542-25545.
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  • #2,897
  • Jan 27, 2017 10:40am Jan 27, 2017 10:40am
Quoting HappyMe
Well it was good day today... again I learned some things...or better "I solved apart of the puzzle again" Have nice continuation, evening and weekend!
Thank you, the same for you. Best L.
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  • #2,898
  • Jan 27, 2017 2:22pm Jan 27, 2017 2:22pm
Quoting Lock
{quote} It's the possible clean space between the low or the high of the previous session and the open price of the next one. Sessions has to be the same: GB compared with GB, US pit with US pit) For instance Tuesday pit session has its high at 2542. Wednesday pit session opened at 25635: the space between these two references is the gap. Then if the new session moves against the gap the gap will be reduced accordingly. For instance, Wednesday made its low at 25545 and so the final gap for the day was 2542-25545.
thank you
  • #2,899
  • Jan 30, 2017 1:55am Jan 30, 2017 1:55am
17/01/30 MONDAY 08:55+1GMT
EARLY MORNING REPORT

We are in a monthly balance, a possible mid term trend higher or at least a mid term weekly balance and a daily balance or, if today will close above Friday high, we could be inside the continuation of the short term daily uptrend.

2600 is Sydney poor high plus Tokyo high: very weak level, specially considering the China bank holiday. Still we have a new poor low left by Friday pit session at 25225 (and also 5 anomalies of its profile) but we got 3 back to back poor highs for the last 3 pit sessions (25795, 2612 and 2638). So overall the weakesses above are clearly more attractive of those downside. We could imagine a correction downside and then a retracement to take out the refs above. (or the opposite, obviously)

For upcoming GB session, price is currently inside Friday GB session range 2515-2574 and consequently, because we are going to open in balance, we expect initial acceptation of these boundaries and eventually tests of them. The nearest composite poc is close to here at 2587.

Highest GB close for current year is at 26175, highest high is a tag of the very important 2673 level: and, I repeat it here, as any exact reference, it is not a strong one. Thursday spike base is at 2592: because we never tested it during Friday it could be a significant level for today.
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  • #2,900
  • Jan 30, 2017 2:20am Jan 30, 2017 2:20am
Note that we are in the last 2 periods for Tokyo and Friday Tokyo close is at 25425, just 2 pips below current GB period A. Also current A low is exactly at Friday GB session half back and pit unch.
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