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Lock's Cable Corner

  • #3,261
  • Feb 15, 2017 8:00am Feb 15, 2017 8:00am
Overnight inventories are 100% short right now. We got 2 old minus development left by pit 07.02 up to yes pit low (3 pips below it): so a potential new gap downside will coincide with them. The new gap, if any, has to resist to allow any meaningfull continuation downside. If no gap or gap quickly retraced, odds are in favour of a correction upside. Let's see.
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  • #3,262
  • Feb 15, 2017 8:02am Feb 15, 2017 8:02am
Quoting Lock
{quote} For those who were shorting the break below GB D period if you placed your stops something like 10 pips above D low your positions should be still in place. Now monitor for continuation: you need acceptation below 23805: if not... PS: scale out some if you like.
As written I didn't short there. I placed my shorts when I saw J closed below D (the second m30 period close below D inside period).
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  • #3,263
  • Feb 15, 2017 8:04am Feb 15, 2017 8:04am
Quoting HappyMe
{quote} See correction above
Sure. Thank you. It was B. Now let's see C.
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  • #3,264
  • Feb 15, 2017 8:23am Feb 15, 2017 8:23am
B and C didn't test below 23805 for now: no acceptation below it, consequently. But let's see pit open. Note C inside B.
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  • #3,265
  • Feb 15, 2017 8:24am Feb 15, 2017 8:24am
Last 3 sessions all with a poor high. Only a strong pit action downside could skip them.
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  • #3,266
  • Feb 15, 2017 8:31am Feb 15, 2017 8:31am
Quoting Lock
B and C didn't test below 23805 for now: no acceptation below it, consequently. But let's see pit open. Note C inside B.
Important note: 23805 is the half back of the entire move downside from 06.12 considering all the sessions. But the half back of the entire pit move downside from 06.12 is at 23975.
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  • #3,267
  • Feb 15, 2017 8:33am Feb 15, 2017 8:33am
Quoting Lock
{quote} Important note: 23805 is the half back of the entire move downside from 06.12 considering all the sessions. But the half back of the entire pit move downside from 06.12 is at 23975.
Note current A high 1 single pip below this very important reference.
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  • #3,268
  • Feb 15, 2017 8:37am Feb 15, 2017 8:37am
Quoting Lock
{quote} Important note: 23805 is the half back of the entire move downside from 06.12 considering all the sessions. But the half back of the entire pit move downside from 06.12 is at 23975.
I mean: because we are now into the pit session: monitor acceptation or rejection below this half back.
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  • #3,269
  • Feb 15, 2017 9:15am Feb 15, 2017 9:15am
Quoting Lock
Overnight inventories are 100% short right now. We got 2 old minus development left by pit 07.02 up to yes pit low (3 pips below it): so a potential new gap downside will coincide with them. The new gap, if any, has to resist to allow any meaningfull continuation downside. If no gap or gap quickly retraced, odds are in favour of a correction upside....
Quoting Lock
B and C didn't test below 23805 for now: no acceptation below it, consequently. But let's see pit open. Note C inside B.
No acceptation below 23805 dor preUS. Break above C preUS inside bar.

Quoting Lock
Last 3 sessions all with a poor high. Only a strong pit action downside could skip them.
No strong action downside for pit US. Rather, a strong open drive upside for pit session.

Quoting Lock
{quote} Important note: 23805 is the half back of the entire move downside from 06.12 considering all the sessions. But the half back of the entire pit move downside from 06.12 is at 23975.
No acceptation below 23975: this confirmed the previous non acceptation below 23805 by preUS: then, all the way up to correct the overnight inventories 100% short.
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  • #3,270
  • Feb 15, 2017 9:19am Feb 15, 2017 9:19am
Now, yes pit made a very prominent poc around 2464 that as said is also the GB poor high, above it we got the Tokyo poor high at 2471. Current B is very elongated but we got also 2 more pit poor high above at 2532 and 25645.
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  • #3,271
  • Feb 15, 2017 9:20am Feb 15, 2017 9:20am
Remember 2481 current composite poc.
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  • #3,272
  • Feb 15, 2017 9:22am Feb 15, 2017 9:22am
Quoting Lock
Last 3 sessions all with a poor high. Only a strong pit action downside could skip them.
PreUS and GB already taken out. Now let's see here at yes pit poc. Inventories are substantially already corrected, for any meaningfull continuation we need acceptation above yes pit unch at 26645.
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  • #3,273
  • Feb 15, 2017 9:42am Feb 15, 2017 9:42am
Note that the only way to continue higher is to obtain acceptation inside yes pit range, meanng above its low at 2445. Clearly without this acceptation how can we have it above yes unchanged that is at 24645? So monitor carefully this level that btw coincides with the short term level of 24437.
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  • #3,274
  • Feb 15, 2017 9:45am Feb 15, 2017 9:45am
Quoting Lock
{quote} PreUS and GB already taken out. Now let's see here at yes pit poc. Inventories are substantially already corrected, for any meaningfull continuation we need acceptation above yes pit unch at 26645. 24645
I'm making a lor of typos today
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  • #3,275
  • Feb 15, 2017 9:55am Feb 15, 2017 9:55am
C inside B for now.
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  • #3,276
  • Feb 15, 2017 10:47am Feb 15, 2017 10:47am
Quoting Lock
Note that the only way to continue higher is to obtain acceptation inside yes pit range, meaning above its low at 2445. Clearly without this acceptation how can we have it above yes unchanged that is at 24645? So monitor carefully this level that btw coincides with the short term level of 24437.
acceptation above yes pit low 2445.

Quoting Lock
C inside B for now.
break above C inside period.

Quoting Lock
Remember 2481 current composite poc.
here's the composite poc 2481.
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  • #3,277
  • Feb 15, 2017 10:49am Feb 15, 2017 10:49am
Now, anyone here is thinking about the 2 upside poor highs left above at 2532 and 25645. I'm thinking at them too. But I really do not know if we have enough strength to continue higher. First of all let's see if we could have acceptation above yes pit unch 24645. Then let's see.
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  • #3,278
  • Feb 15, 2017 10:57am Feb 15, 2017 10:57am
Note that current E is the last period of London. And guess what? We are exactly at yes GB close 24635.
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  • #3,279
  • Feb 15, 2017 11:05am Feb 15, 2017 11:05am
Quoting Lock
Now, anyone here is thinking about the 2 upside poor highs left above at 2532 and 25645. I'm thinking at them too. But I really do not know if we have enough strength to continue higher. First of all let's see if we could have acceptation above yes pit unch 24645. Then let's see.

D and E periods closed both less than 1 pip below yes pit unch. Have we to consider this as a rejection above it? It could be. Sicerely I'm becoming more and more tired right now and the current pit shape resembles a "p" for now. So, I don't know. Maybe I'm going to step aside. I do not want to risk my profit at the end of the day.
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  • #3,280
  • Feb 16, 2017 2:42am Feb 16, 2017 2:42am
17/02/16 THURSDAY 09:42+1GMT
MORNING REPORT

Again, we are in a monthly, weekly daily balance. Yesterday price made an attempt below 24436, the last 4 days bracket low, and failed. Natural direction after a failure below balance is the opposite side of it. That in this case is 2548.

GB opened today with a gap higher from yesterday GB range high at 2464. If this gap will not be retraced quickly there are good odds to continue higher. Note anyhow the presence of the major composite poc right below current price location: it will be difficult to evade it without volume, so monitor carefully 2481.

In any case yesterday GB was a double distribution, so consider the 2 distributions of it as separate sessions. Above current price we have a remaining portion of the min dev up to 25135 left by GB 13.02: it could attract price. While 25393 is the poor high left above from GB 10.02.

Then above it we have a further poor high left by Tokyo at 25475 (13.02 session)

Also USDX made a gap downside at GB open, creating a double pass gap: monitor it too.
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