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Lock's Cable Corner

  • #3,061
  • Feb 3, 2017 7:23am Feb 3, 2017 7:23am
Quoting Lock
{quote} Hi Giorgio, we were below it but now we have to see where it is going to close: if above that level, it will be still in place because preUS have different participants. I mean that we will still consider it a poor low for both upcoming preUS and pit US sessions. If instead preUS will open below it then we will consider it obviously already corrected. Note also that current GB left downside a new poor low for now at 2465. Then we currently have 2 GB poor lows back to back. (the other one...
This is only tagged for now, not taken out yet.
Ubi maior minor cessat
  • #3,062
  • Feb 3, 2017 7:24am Feb 3, 2017 7:24am
Note that we have a minus development left by 31.01 preUS at 2493-25165: in case of shake out it could be targeted by preUS action.
Ubi maior minor cessat
  • #3,063
  • Feb 3, 2017 7:26am Feb 3, 2017 7:26am
Quoting Lock
2479 is our main composite poc in this zone. Below we have an other one at 24168, while above it is at 2572. Remember that in order to evade a major poc volume is needed. In absence of it generally price tend to come back to the poc. Specially in case of uncertainty. Remember also that generally directional moves go from poc to poc, poc to valley, valley to poc or valley to valley. And now we are at a poc.
As you see initial preUS action went down to test GB low, then went back up to composite poc.
Ubi maior minor cessat
  • #3,064
  • Feb 3, 2017 7:29am Feb 3, 2017 7:29am
Remember that 2428 is the half back of the entire move upside from 25.10.16. As 23805 is the half way back of the entire move downside from 06.12.16
Ubi maior minor cessat
  • #3,065
  • Feb 3, 2017 7:33am Feb 3, 2017 7:33am
Quoting Lock
{quote} This is only tagged for now, not taken out yet.
It then took it out during shake out.
Ubi maior minor cessat
  • #3,066
  • Feb 3, 2017 7:34am Feb 3, 2017 7:34am
Quoting Lock
Note that we have a minus development left by 31.01 preUS at 2493-25165: in case of shake out it could be targeted by preUS action.
Filled as expected in case of shake out.
Ubi maior minor cessat
  • #3,067
  • Feb 3, 2017 7:35am Feb 3, 2017 7:35am
Note that preUS B went upside 3 pips above yes pit unch 2524: without acceptation above this level we will not have continuation upside.
Ubi maior minor cessat
  • #3,068
  • Feb 3, 2017 7:37am Feb 3, 2017 7:37am
I have to study this behaviour and your comments about this move this weekend!

Very nice and practical info here lock!!

You can manage risk, but you can't manage the return
  • #3,069
  • Feb 3, 2017 7:41am Feb 3, 2017 7:41am
Quoting Lock
2479 is our main composite poc in this zone. Below we have an other one at 24168, while above it is at 2572. Remember that in order to evade a major poc volume is needed. In absence of it generally price tend to come back to the poc. Specially in case of uncertainty. Remember also that generally directional moves go from poc to poc, poc to valley, valley to poc or valley to valley. And now we are at a poc.
As you see even during the shake out preUS action went down then up then went back down again to composite poc.
Ubi maior minor cessat
  • #3,070
  • Feb 3, 2017 7:43am Feb 3, 2017 7:43am
Now the game will be all focused to the possible new gap downside from yes pit low at 25175. If we will have a gap we could continue lower (it the gap will not be retraced quickly). If no gap (meaning an open back inside yes pit range) than initial aceptation of it (yes pit range) is expected and then test above and/or below it.

Note B period to elongated as selling tail.
Ubi maior minor cessat
  • #3,071
  • Feb 3, 2017 8:32am Feb 3, 2017 8:32am
Quoting Lock
Now the game will be all focused to the possible new gap downside from yes pit low at 25175. If we will have a gap we could continue lower (it the gap will not be retraced quickly). If no gap (meaning an open back inside yes pit range) than initial aceptation of it (yes pit range) is expected and then test above and/or below it. Note B period to elongated as selling tail.
What do you mean with "guickly" as guideline?

2 periods?
You can manage risk, but you can't manage the return
  • #3,072
  • Feb 3, 2017 8:50am Feb 3, 2017 8:50am
Quoting HappyMe
{quote} What do you mean with "guickly" as guideline? 2 periods?

Ther's not an exact rule about it. It comes form experience. But yes 2-3 periods could be considered quickly. The important thing to understand is that the more we stay below yesterday low the more the new value is building lower form yesterday: and we trade value, not price.
Ubi maior minor cessat
  • #3,073
  • Feb 3, 2017 8:51am Feb 3, 2017 8:51am
Now, if the gap will be preseved we could have a couple of options here: remain in balance around current composite poc until the end of the day. Or continue lower aiming at the old pit gap.
Ubi maior minor cessat
  • #3,074
  • Feb 3, 2017 8:57am Feb 3, 2017 8:57am
PreUS C was inside preUS B: we could consider this one as an attempted breakout. Balance rules apply here.
Ubi maior minor cessat
  • #3,075
  • Feb 3, 2017 9:20am Feb 3, 2017 9:20am
Quoting Lock
PreUS C was inside preUS B: we could consider this one as an attempted breakout. Balance rules apply here.
Failed below C balance and here we are at the opposite side of C.
Ubi maior minor cessat
  • #3,076
  • Feb 3, 2017 9:23am Feb 3, 2017 9:23am
Note that they bought at preUS low: day time fram/short term ref. (overnight low) So carry this info forward if something will go wrong upside. (example it will not be able to fill the gap, it will not be able to obtain acceptation above it, etc.)
Ubi maior minor cessat
  • #3,077
  • Feb 3, 2017 9:42am Feb 3, 2017 9:42am
Note that for any meaningfull continuation upside we need:

  1. fill the new gap
  2. obtain acceptation back inside yes range (above 25175)
  3. obtain acceptation above yes unch at 2524
  4. do the previous tasks in a little amount of time.

Ubi maior minor cessat
  • #3,078
  • Feb 3, 2017 9:45am Feb 3, 2017 9:45am
If not: all the way back to composite poc and eventually to preUS/pit US lows at 2457-58.
If yes: natural initial target is the yesterday poor high at 25645.
Ubi maior minor cessat
  • #3,079
  • Feb 3, 2017 9:50am Feb 3, 2017 9:50am
Quoting Lock
If not: all the way back to composite poc and eventually to preUS/pit US lows at 2457-58. If yes: natural initial target is the yesterday poor high at 25645.
mhhh he isn't that enthusiastic at the moment.... or maybe a little shy....?
You can manage risk, but you can't manage the return
  • #3,080
  • Feb 3, 2017 9:55am Feb 3, 2017 9:55am
Quoting HappyMe
{quote} mhhh he isn't that enthusiastic at the moment.... or maybe a little shy....?
This action is occurring against value, above a mojor composite poc and starting from a day timeframe reference: the basics are not favorable. Let's say that unless it will do the task in the next 2 periods I'll be off my buy. Then, evenutally I'l buy again if it will manage to obtain acceptation above yes low/unch. The 2 poor high (GB and pit US left above) are the main reason of my indecision right now.
Ubi maior minor cessat
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