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Lock's Cable Corner

  • #3,121
  • Feb 7, 2017 2:34am Feb 7, 2017 2:34am
Quoting intellivesto
{quote} Excellent analysis. It's on the 200 MA now (2352).
Yes and VWMA 200 is above SMA 200. I only consider them in such cases because short term traders use them too and I know that below 24115 I was going to find short terms.

PS: thank you for the appreciacions.
Ubi maior minor cessat
  • #3,122
  • Edited 2:55am Feb 7, 2017 2:40am | Edited 2:55am
Quoting Lock
Note that 23805 is the half back of the new major bracket from 06.12.2016 (27742) to 16.01.2017 (19867).
Note also that we are in the last period of Tokyo and Tokyo poor low of 23.01 (already taken out) is right above it at 2381.

Now, in order to evaluate the possibilities to continue lower to the low of November 2016 (the balance inside month above which we failed again during GB 02.02), we got to see if we could have acceptation below the major bracket half back underlined before or not.

Note also that current GB low (2346) is a perfect shot term reference tag as it is exactly the half back (mid level) of the entire move upside from 16.01.

So we are between two short/mid term major references 2346 and 23805. That in all probability will be our most important refs for today.
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  • #3,123
  • Feb 7, 2017 2:42am Feb 7, 2017 2:42am
Quoting Lock
17/02/07 and what does happen when there are no new strong money buying in a certain zone? It happens that the market has to go lower in order to eventually find them. So an other serious possibility for the current environment is a liquidation, a sharp one, in order to go down somewhere where eventually those new stronger possible buyers eventually will be ready to enter the market. So today and next days watch out for both possibilities and do not remain fixed only on the easier one (go upside and take out the weaknesses)
Nice catch Lock,

I'm reading your posts for more then a week now. I'm working with your indicator as well. Do you have some preferred website or book I should read?

Thanks in advance and keep on the good work!
  • #3,124
  • Feb 7, 2017 3:03am Feb 7, 2017 3:03am
Quoting HappyMe
{quote} anyway....I was to late behind my desk for this move...next time better

It could happen to anyone but the major thing to understand here is how important it is to be prepared before market open, reading and studying market generated information: note that most of traders have no idea whatsoever of what happened this early morning.

If you had studied the market and if you had understood it, you could have been prepared to such an event and this is the huge edge you could have against your competitors.
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  • #3,125
  • Feb 7, 2017 3:29am Feb 7, 2017 3:29am
Quoting Lock
{quote} It could happen to anyone but the major thing to understand here is how important it is to be prepared before market open, reading and studying market generated information: note that most of traders have no idea whatsoever of what happened this early morning. If you had studied the market and if you had understood it, you could have been prepared to such an event and this is the huge edge you could have against your competitors.
Agreed with that.....

I was driving my car this morning .....I just couldn't fire a trade on the hot moment
You can manage risk, but you can't manage the return
  • #3,126
  • Feb 7, 2017 3:32am Feb 7, 2017 3:32am
23395 is the GB new year open. 23355 is the last GB close of 2016. We need acceptation below both of them for any meaningfull continuation. Note the current poor low cluster.
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  • #3,127
  • Feb 7, 2017 3:52am Feb 7, 2017 3:52am
Quoting Rhox
{quote} Nice catch Lock, I'm reading your posts for more then a week now. I'm working with your indicator as well. Do you have some preferred website or book I should read? Thanks in advance and keep on the good work!
Thanks Rhox,
I suggest you to start with the market profile handbook, then continue with all what Mr. Jim Dalton wrote and said about the topic. Remember that it will be a long path.
Best L.
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  • #3,128
  • Feb 7, 2017 4:01am Feb 7, 2017 4:01am
Note D inside C
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  • #3,129
  • Feb 7, 2017 4:51am Feb 7, 2017 4:51am
Quoting Lock
Note that 23805 is the half back of the new major bracket from 06.12.2016 (27742) to 16.01.2017 (19867).
And here we are at the test of this major ref.
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  • #3,130
  • Feb 7, 2017 4:52am Feb 7, 2017 4:52am
Quoting Lock
{quote} ......So we are between two short/mid term major references 2346 and 23805. That in all probability will be our most important refs for today.

As you see current action is occurring between these two major refs..
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  • #3,131
  • Feb 7, 2017 4:54am Feb 7, 2017 4:54am
Quoting Lock
{quote} As you see current action is occurring between these two major refs..
Our goal for today is evaluate acceptation or rejection above or below both of them.
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  • #3,132
  • Feb 7, 2017 5:06am Feb 7, 2017 5:06am
Quoting Lock
{quote} All taken out. Now note the extreme elongation of current A period. People are piling on this liquidation: watch out.
Note that this last action covered already almost the 40% of the A period liquidation. Most of the weak leggards piling on coming down are no more.
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  • #3,133
  • Feb 7, 2017 5:08am Feb 7, 2017 5:08am
Btw I do not know if this cover is enough nor I know if the upcoming pit will need to test again the upper major ref at 23805. I sold there again but I'm ready to cover at any moment in time if I'll see troubles coming down. For now we do not have acceptation above this major ref.
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  • #3,134
  • Feb 7, 2017 5:11am Feb 7, 2017 5:11am
Quoting Lock
Btw I do not know if this cover is enough nor I know if the upcoming pit will need to test again the upper major ref at 23805. I sold there again but I'm ready to cover at any moment in time if I'll see troubles coming down. For now we do not have acceptation above this major ref.
One of the reasons for this new short is the GB poor low cluster at 2346 that seems to need at least a test.
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  • #3,135
  • Feb 7, 2017 5:15am Feb 7, 2017 5:15am
Note the 6 letters poc at 2368 and have a look at the entire GB profile: it is a perfect "b" shape, meaning liquidation.
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  • #3,136
  • Feb 7, 2017 5:17am Feb 7, 2017 5:17am
Note also that current GB action is occurring below (far below) yesterday pit session low: it is building a new gap lower for upcoming pit session. In this case (meaning: if so) note that the old pit gap higher (23805-2427) will become a new double pass gap. And that this will be the second in a row for pit sessions.
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  • #3,137
  • Feb 7, 2017 5:26am Feb 7, 2017 5:26am
Quoting Lock
{quote} One of the reasons for this new short is the GB poor low cluster at 2346 that seems to need at least a test.
Again, watch out below it, if reached: we could have acceleration (downside) or fast rejection (upwards) because it is at least a short term reference and short term buyers or sellers could be below it (even with automatic stops).
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  • #3,138
  • Feb 7, 2017 6:08am Feb 7, 2017 6:08am
So, we are still in the hands of day timeframes: note the poor low (cluster of periods A C D lows at 2346) and the G low at round 2350. Ad now the poc is already a 8 letters wide one. No acceptation below 2346 nor above 23805.
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  • #3,139
  • Feb 7, 2017 6:31am Feb 7, 2017 6:31am
Period I inside H
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  • #3,140
  • Feb 7, 2017 8:14am Feb 7, 2017 8:14am
That 2350 tagged by GB G period was weak before and now it is extraordiary weaker than before with this new pre US poor low. Clearly is covering the GB period A single pips, but if the new possible pit gap will not be filled we have good odds to come back again at 2346. I'll wait pit open to watch and see.
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