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Lock's Cable Corner

  • #3,221
  • Feb 13, 2017 10:00am Feb 13, 2017 10:00am
We have now 5 poor highs in a row.
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  • #3,222
  • Feb 13, 2017 10:01am Feb 13, 2017 10:01am
Quoting Lock
We have now 5 poor highs in a row.

And remember that such a situation could also mean that we have no serious buyers and when a market find itself in this situation could also go lower in order to search for them. But let's see. 5 poor highs in a row are very impressive.
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  • #3,223
  • Feb 13, 2017 10:11am Feb 13, 2017 10:11am
Quoting Lock
{quote} And remember that such a situation could also mean that we have no serious buyers and when a market find itself in this situation could also go lower in order to search for them. But let's see. 5 poor highs in a row are very impressive.
2 of them already taken out. For any meaningfull continuation upside we need acceptation above Friday pit high at 2508.
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  • #3,224
  • Feb 13, 2017 10:38am Feb 13, 2017 10:38am
We are in the last London period (E) and Friday GB close was at 2501: 2 pips above current location...
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  • #3,225
  • Feb 13, 2017 10:39am Feb 13, 2017 10:39am
For now we do not have acceptation above Friday pit unch.
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  • #3,226
  • Feb 13, 2017 12:13pm Feb 13, 2017 12:13pm
Quoting Lock
For now we do not have acceptation above Friday pit unch.
Sorry: I see now my mistake. I mean Friday high.

Now G inside F. Possible break.
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  • #3,227
  • Feb 13, 2017 12:14pm Feb 13, 2017 12:14pm
But also note F and G lows both at half back 24965 and H low at round 2500/open price
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  • #3,228
  • Feb 14, 2017 1:10am Feb 14, 2017 1:10am
17/02/14 TUESDAY 08:10+1GMT
EARLY MORNING REPORT

Still in a balance environment including monthly, weekly and daily timeframes. Nothing changed from the last days and, again, no participation of bigger timeframes, no volume.

The boundaries of current daily bracket are 24436-2548. Above them the most visible major levels are above at 26345 and 2673 and below at 23805 (entire move down from 06.12.16), 23316 and 23016.

As in the last days, because of the weak participation, we give particular emphasis to the major composite pocs. Nearest ones are at 2571, 2479 and 2417.

Price is currently above yesterday GB range high at 25393 (that is also a poor high), so the important thing here is to wait and see if upcoming GB will open above it (with a new gap upside) or below it (in balance). If below it, a test of yesterday poor high at 25393 will be very probable. If above it the test will be automatically already done.
I know that is far above current location, but the most visible reference for GB is at 2673: so in case of continuation above yes range consider it as a potential direction.

If instead it will open inside yes GB range, test above and fail, then our expectation will be all pointed to a full retracement of yes range down to 25053 and eventually down to nearest composite poc at 2479. Note that we left 2 Tokyo poor low in row downside at 2480 and 2518 plus a very suspect cluster of lows at 2441 zone. And remember also that right below that cluster we have an old little double pass GB gap at 2435-24405.

Considering the huge amount of weaknesses left both above and below, a shake out is not impossible.
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  • #3,229
  • Feb 14, 2017 2:25am Feb 14, 2017 2:25am
The only thing that could happen without a test of yesterday GB poor high is a liquidation. It is not so probable but anyway possible. So watchout if you'll not see acceptation back inside Tokyo range (we are now after a first test below its low)
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  • #3,230
  • Feb 14, 2017 2:27am Feb 14, 2017 2:27am
Quoting Lock
The only thing that could happen without a test of yesterday GB poor high is a liquidation. It is not so probable but anyway possible. So watchout if you'll not see acceptation back inside Tokyo range (we are now after a first test below its low)
Btw, as a day timeframe ref , the Tokyo low (overnight low) was a perfect spot to buy when you saw no continuation below it. But you got to now what you're doing and who is buying there. Also note that GB tagged at the pip the yes GB unch level, right below Tokyo low: an other daytimeframe ref.
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  • #3,231
  • Feb 14, 2017 2:44am Feb 14, 2017 2:44am
Quoting Lock
17/02/14 TUESDAY 08:10+1GMT EARLY MORNING REPORT ...7. Price is currently above yesterday GB range high at 25393 (that is also a poor high), so the important thing here is to wait and see if upcoming GB will open above it (with a new gap upside) or below it (in balance). If below it, a test of yesterday poor high at 25393 will be very probable. If above it the test will be automatically already done. ....
First test of yes GB high (currently only tagged)
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  • #3,232
  • Feb 14, 2017 2:51am Feb 14, 2017 2:51am
Quote
Btw, as a day timeframe ref , the Tokyo low (overnight low) was a perfect spot to buy when you saw no continuation below it. But you got to now what you're doing and who is buying there. Also note that GB tagged at the pip the yes GB unch level, right below Tokyo low: an other daytimeframe ref.
Does the GB open from February 3rd has something to do with tonight Asian low,I see that price wrapped around that level a lot in the past week ?

Attached Image (click to enlarge)
Click to Enlarge Name: London continuity.png Size: 73 KB
  • #3,233
  • Feb 14, 2017 3:58am Feb 14, 2017 3:58am
Quoting madboy
{quote} Does the GB open from February 3rd has something to do with tonight Asian low,I see that price wrapped around that level a lot in the past week ? London continuity.png;2186088 {image}
It has a lot to do with 25122 one of our main references for the last weeks. It is the inside weekly balance high of 20.11.16. Best L.
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  • #3,234
  • Feb 14, 2017 4:00am Feb 14, 2017 4:00am
Quoting Lock
The only thing that could happen without a test of yesterday GB poor high is a liquidation. It is not so probable but anyway possible. So watchout if you'll not see acceptation back inside Tokyo range (we are now after a first test below its low)
Quoting Lock
{quote} First test of yes GB high (currently only tagged)
And in fact, we didn't test the yesterday GB PH (only tagged as I underlined in previous post). And here we have the liquidation.

Note the very elongated D period and the single pips of it. Note also D high exactly at yes GB unchanged level 2517.
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  • #3,235
  • Feb 14, 2017 4:07am Feb 14, 2017 4:07am
As it is clearly a liquidation it is weak. This does not mean it cannot continue lower, for instance to take out the double pass GB gap 2435-24405 underlined in the EM report. But I think it need some covering right now. Note also that price is now in the zone of attraction of the main composite poc.
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  • #3,236
  • Feb 14, 2017 4:12am Feb 14, 2017 4:12am
Quoting Lock
17/02/14 TUESDAY 08:10+1GMT EARLY MORNING REPORT Still in a balance environment including monthly, weekly and daily timeframes. Nothing changed from the last days and, again, no participation of bigger timeframes, no volume. The boundaries of current daily bracket are 24436-2548. ....
Bracket low tagged. I was waiting for some correction above before any continuation downside as written. Instead it made this new extention downside in order to test the bracket low. I didn't expect it now.
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  • #3,237
  • Feb 14, 2017 4:40am Feb 14, 2017 4:40am
Note that, in the case of a good test of 24436 and relative acceptation below it and below the double pass gap, the next visible reference is far downside at 2346 (07.02 GB poor low). 24436 is in fact a short term reference: so below it we could find new money buyers or sellers. If sellers the current liquidation could morph into something different and stronger.

Generally at these levels short term decide what is more convenient: punish the weak hands leggards still selling at the bottom of the liquidation and the weak sellers day timeframes above selling at exact refs.. or pile on the weak move and accelerate it.
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  • #3,238
  • Feb 14, 2017 6:30am Feb 14, 2017 6:30am
Quoting Lock
{quote} {quote} And in fact, we didn't test the yesterday GB PH (only tagged as I underlined in previous post). And here we have the liquidation. Note the very elongated D period and the single pips of it. Note also D high exactly at yes GB unchanged level 2517.
50% retracement of period D.
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  • #3,239
  • Feb 14, 2017 6:33am Feb 14, 2017 6:33am
Quoting Lock
As it is clearly a liquidation it is weak. This does not mean it cannot continue lower, for instance to take out the double pass GB gap 2435-24405 underlined in the EM report. But I think it need some covering right now. Note also that price is now in the zone of attraction of the main composite poc.
And also note "I" period tagged exactly the composite poc at 2489 as expected, considering the weak environment and the force of attraction of the fairest place at which business has been previously conducted.
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  • #3,240
  • Feb 14, 2017 6:35am Feb 14, 2017 6:35am
Quoting Lock
{quote} Bracket low tagged. I was waiting for some correction above before any continuation downside as written. Instead it made this new extention downside in order to test the bracket low. I didn't expect it now.
As said I was expecting the covering occurring now just after the period D was over. Instead it made a false test of the bracket low and then started the covering.
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