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Lock's Cable Corner

  • #3,141
  • Feb 7, 2017 8:18am Feb 7, 2017 8:18am
Nevertheless if I'll see continuation upside I certainly didn't forget the higher weaknesses left during the last 3 pit sessions (3 pit poor highs in a row)
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  • #3,142
  • Feb 7, 2017 8:30am Feb 7, 2017 8:30am
Quoting Lock
Nevertheless if I'll see continuation upside I certainly didn't forget the higher weaknesses left during the last 3 pit sessions (3 pit poor highs in a row)

Hi Lock, and do those single prints from GB session attract TPO's?
  • #3,143
  • Feb 7, 2017 8:41am Feb 7, 2017 8:41am
Pit gap lower. New double pass gap above. 23805 tagged: let's see acceptation below it or not.
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  • #3,144
  • Feb 7, 2017 8:42am Feb 7, 2017 8:42am
Quoting Zaak
{quote} Hi Lock, and do those single prints from GB session attract TPO's?
Weaknesses like poor highs mean that (could mean that) an auction is incompleted above. Consequently price action could go there again in order to complete that auction in that particular direction. But it is only one data point.
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  • #3,145
  • Feb 7, 2017 8:45am Feb 7, 2017 8:45am
Quoting Lock
Pit gap lower. New double pass gap above. 23805 tagged: let's see acceptation below it or not.
If acceptation below it we could see price continue lower in order to take out all what we left down to 2446 and more. If no acceptation below it we could retrace a lot above. (3 poor highs included obviously)
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  • #3,146
  • Feb 7, 2017 8:48am Feb 7, 2017 8:48am
Btw we could also stay here filling the new gap and the GB minus development left by period A, postponing the resolution of the weaknesses below and above to next sessions and next days.
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  • #3,147
  • Feb 7, 2017 9:09am Feb 7, 2017 9:09am
Remember, if it will continue lower, that 23435, just below our 2346 major ref, is the last pit close for 2016. While 2289 is the pit new year open. Both these levels could attract price for test. (always considering an hypothetic acceptation below 23805.)
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  • #3,148
  • Feb 7, 2017 9:13am Feb 7, 2017 9:13am
I suggest also to monitor USDX that is in a quite similar situation: new gap upside and new double pit pass gap. USDX could influence cable and vice-versa.
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  • #3,149
  • Feb 7, 2017 9:40am Feb 7, 2017 9:40am
A lot of indecision, weak participants. Note C high at open price.
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  • #3,150
  • Feb 7, 2017 9:42am Feb 7, 2017 9:42am
Quoting Lock
Remember, if it will continue lower, that 23435, just below our 2346 major ref, is the last pit close for 2016. While 2289 is the pit new year open. Both these levels could attract price for test. (always considering an hypothetic acceptation below 23805.)
Np acceptation below it for now.
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  • #3,151
  • Feb 7, 2017 10:03am Feb 7, 2017 10:03am
Quoting Lock
{quote} Np acceptation below it for now.
A nuance but as you see it was fundamental: this was our major ref and when you saw no acceptation below it after 2 consecutive attempts there is your buy. Now, after the new gap filled (and also the double pass) let's see if we will have acceptation inside yes pit range or not. If yes the 3 poor highs are very possible.

If no acceptation back inside yes pit range, you perfectly know where the targets are downside.
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  • #3,152
  • Feb 7, 2017 10:06am Feb 7, 2017 10:06am
But there is also an other possibility, as written previously:

Quoting Lock
Btw we could also stay here filling the new gap and the GB minus development left by period A, postponing the resolution of the weaknesses below and above to next sessions and next days.
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  • #3,153
  • Feb 7, 2017 10:24am Feb 7, 2017 10:24am
Very elongated C and D but if we get acceptation inside yes pit range we could have a massacre above even so. (a fire cracker effect caused by the nearness of the weak references above)
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  • #3,154
  • Feb 7, 2017 10:27am Feb 7, 2017 10:27am
If no acceptation we will have anyway a similar good opportunity downside because in this case we will have to fill with volume both C and D periods and then we have our very weak refs around 2346.
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  • #3,155
  • Feb 7, 2017 10:28am Feb 7, 2017 10:28am
Quoting Lock
{quote} A nuance but as you see it was fundamental: this was our major ref and when you saw no acceptation below it after 2 consecutive attempts there is your buy. Now, after the new gap filled (and also the double pass) let's see if we will have acceptation inside yes pit range or not. If yes the 3 poor highs are very possible. If no acceptation back inside yes pit range, you perfectly know where the targets are downside.

Good afternoon

Still crawling but a with a few breaststrokes ..... got the buy !

Thanks for your lesson ..... all the matter makes me over and over conscious where and why the market moves to certain levels
and this, after all, is enchanting in the long and hard way of learning
Animum debes mutare non caelum
  • #3,156
  • Feb 7, 2017 10:28am Feb 7, 2017 10:28am
E last period of London, so GB poor high at 25375 could be involved in the possible massacre.
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  • #3,157
  • Feb 7, 2017 10:33am Feb 7, 2017 10:33am
Quoting giorgio1448
{quote} Good afternoon Still crawling but a with a few breaststrokes ..... got the buy ! Thanks for your lesson ..... all the matter makes me over and over conscious where and why the market moves to certain levels and this, after all, is enchanting in the long and hard way of learning
Very fine. The important thing of our analysis is to understand what is going on in the market. Sometimes it is possible to take an opportunity and sometime it is not. But on the long run, knowing what's happening in the market is a vital edge. Best L.
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  • #3,158
  • Feb 7, 2017 10:37am Feb 7, 2017 10:37am
Quoting Lock
E last period of London, so GB poor high at 25375 could be involved in the possible massacre.

Note E high (E last period of London as said) exactly at yesterday GB unchanged price 2482 (the close of the last GB period before preUS open)
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  • #3,159
  • Feb 7, 2017 10:43am Feb 7, 2017 10:43am
And by the way never mind...

Attached Image (click to enlarge)
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talking heads have always a lot to say after the facts occurred...

What we saw today, from early morning, was clearly embedded in market structure. Obviously an exogenous event could trigger a price action at any moment in time, but unless you know market structure you cannot have any meaningfull clue of where the triggered move is going to go and how.
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  • #3,160
  • Feb 7, 2017 10:53am Feb 7, 2017 10:53am
While E high was at yes GB unch, E low is at yes pit unch 24645: both exact refs. So currently market is ruled by weak hands. Note also the proximity with the major composite poc at 2479. It will be difficult to evade this pole of attraction without the participation of stronger hands. So if this will occurr you'll know who is currently participating to the action.
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