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Lock's Cable Corner

  • #3,001
  • Feb 1, 2017 4:54am Feb 1, 2017 4:54am
Quoting HappyMe
{quote} {quote} Well this is again such a WOW-moment..... struggle...and testing from below....break and now testing from above....
Yes, and F close is important for the reasons we told before. A close above 26255 is positive, below pretty negative. Anyhow for now we are in one timeframing higher and we have a big gap supporting this action. So, let's see.
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  • #3,002
  • Feb 1, 2017 5:17am Feb 1, 2017 5:17am
Quoting Lock
{quote} Yes, and F close is important for the reasons we told before. A close above 26255 is positive, below pretty negative. Anyhow for now we are in one timeframing higher and we have a big gap supporting this action. So, let's see.
Hi Lock

could be test it till incoming news ?
Animum debes mutare non caelum
  • #3,003
  • Feb 1, 2017 5:42am Feb 1, 2017 5:42am
It could continue higher to test the weak 2673, but the market is clearly grinding right now. I'm a little tired also. If I'll see acceleration above 26345 I could join the rally, if not, probably I will not chase this market. I do not want to risk my profit made till now.
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  • #3,004
  • Feb 1, 2017 5:47am Feb 1, 2017 5:47am
Quoting giorgio1448
{quote} Hi Lock could be test it till incoming news ?
Note H low exactly at 26255. It is a test already. Before news.
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  • #3,005
  • Feb 1, 2017 5:49am Feb 1, 2017 5:49am
In my opinion it could wait for the first news at 2653 (higher composite poc), or at 2587, lower composite poc. But it is only a possibility. Generally when there is uncertainty in a market composite pocs tend to attract price.
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  • #3,006
  • Feb 1, 2017 6:01am Feb 1, 2017 6:01am
Quoting Lock
In my opinion it could wait for the first news at 2653 (higher composite poc), or at 2587, lower composite poc. But it is only a possibility. Generally when there is uncertainty in a market composite pocs tend to attract price.

And here we are at the upper composite poc. Now 2 things could happen: continuation during last periods of GB in order to test the 2673, then coming back here and wait news. Or wait news here and eventually test 2673 later during news.
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  • #3,007
  • Feb 1, 2017 6:03am Feb 1, 2017 6:03am
Now, because of the already 5 anomalies left by current GB session I'm off. It's about my risk menagement. See you later. Best L.

PS: remember that now the game is about the possible new gap upside for pit session, so take care of 2596, yesterday pit high.
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  • #3,008
  • Feb 1, 2017 9:56am Feb 1, 2017 9:56am
So, pit opened with a gap higher, and went in balance. Note AB poor low and C low exactly at highest pit close for this year (26295) and note also that C low is also our open for today pit. C inside B inside A.
Other relevant ref for current pit session could be: the old pit highest high at 2638, the november pit breakeven at 26345 and the nearest composite pocs at 2714 (above) and 2587 (below) plus the one in the middle at 2653.
Furthermore, if there will be continuation upside we also have an other poor high at 27225.

Major "volume" valley above is at 2697. Downside it is at 25505.
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  • #3,009
  • Feb 1, 2017 10:21am Feb 1, 2017 10:21am
Please, keep in mind that 27115 is the half back of the entire move downside from 06.09. (Because the "all time low" have different values fro any different provider, in this case I'm referring to alpari ECN data)
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  • #3,010
  • Feb 1, 2017 10:25am Feb 1, 2017 10:25am
First information we have from current action is the acceptation above November 2016 pit breakeven (26345): it is only one data point but carry it forward.
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  • #3,011
  • Feb 1, 2017 10:26am Feb 1, 2017 10:26am
Quoting Lock
Please, keep in mind that 27115 is the half back of the entire move downside from 06.09. (Because the "all time low" have different values fro any different provider, in this case I'm referring to alpari ECN data)
if it breaks it would be a disappointment for my GBPUSD view...anyway I'm just waiting for the move....

have a good evening!
You can manage risk, but you can't manage the return
  • #3,012
  • Feb 1, 2017 10:28am Feb 1, 2017 10:28am
We are going to enter the last period for London: highest London close is at 26175 while highest high is at 2673 (November GB breakeven), yesterday GB close is at 25825.
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  • #3,013
  • Feb 1, 2017 10:31am Feb 1, 2017 10:31am
D inside C inside B inside A. Current E inside D. Substantial break (above or below) is possible.
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  • #3,014
  • Feb 1, 2017 10:33am Feb 1, 2017 10:33am
Quoting HappyMe
{quote} if it breaks it would be a disappointment for my GBPUSD view...anyway I'm just waiting for the move.... have a good evening!
Follow the market, whatever it will do it will be right, even if clearly dumb. Then carry the information forward. When someone will finally consider the last market action as actually dumb, you will be among those ready to react.
Have a nice evening too. Best L.
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  • #3,015
  • Feb 1, 2017 11:03am Feb 1, 2017 11:03am
F inside E inside D inside C inside B inside A: vary rare balance environment.
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  • #3,016
  • Feb 1, 2017 11:54am Feb 1, 2017 11:54am
It's too weak and risky for now. Possible shake out. Major timeframes are clearly not involved. I'm off for a while. If it breaks I'll miss a trade. So what? Best L.
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  • #3,017
  • Feb 1, 2017 12:12pm Feb 1, 2017 12:12pm
Quoting Lock
It's too weak and risky for now. Possible shake out. Major timeframes are clearly not involved. I'm off for a while. If it breaks I'll miss a trade. So what? Best L.
The market is just waiting for news...like in 45min I guess....
You can manage risk, but you can't manage the return
  • #3,018
  • Feb 1, 2017 12:21pm Feb 1, 2017 12:21pm
The last 3 pit sessions poc, including current one are very prominent (2485, 2575 and current 2642) : carry this information forward, because the "fairest place at which business has been conducted" (alias poc) is the easiest place to go in case of uncertainty.
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  • #3,019
  • Feb 1, 2017 12:29pm Feb 1, 2017 12:29pm
Quoting HappyMe
{quote} The market is just waiting for news...like in 45min I guess....

Yes it is, but major timeframes will not be involved. Even if you will see a huge move after news. Major timeframes do not wait for news nor they start to trade late in the day. So what you have to expect is something made by short term or daytimeframe traders. Specially with such a prominent poc already built.
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  • #3,020
  • Feb 1, 2017 12:35pm Feb 1, 2017 12:35pm
What ever the result of current pit session, major timeframes will do something not before tomorrow.
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