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Lock's Cable Corner

  • #3,301
  • Feb 16, 2017 10:49am Feb 16, 2017 10:49am
Gap filled: now we need acceptation below 2481. If not....
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  • #3,302
  • Feb 16, 2017 10:51am Feb 16, 2017 10:51am
Quoting Lock
D inside C. All day contained in 40 pips: watch out!
Attempted break below D inside period. Monitor for continuation.
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  • #3,303
  • Feb 16, 2017 10:52am Feb 16, 2017 10:52am
Quoting giorgio1448
{quote} Good afternoon Lock Is it possible that this is the case where Market waits for news ...... I have seen US president speaks in short time Regards g.
Good afternoon Giorgio, yes it is absolutely possible. But this underline the weakness of current market. Strong markets do not wait for news. Best L.
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  • #3,304
  • Feb 16, 2017 10:59am Feb 16, 2017 10:59am
E last period for London: yes GB close at 24635
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  • #3,305
  • Feb 16, 2017 11:21am Feb 16, 2017 11:21am
E period high at previous half back 2495, F period high at yes high 2481: carry these information forward.
2446, yes pit poc (prominent) is possible anyway. And remember yes pull back low at 2436: it is our main pit ref for today.
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  • #3,306
  • Feb 16, 2017 11:23am Feb 16, 2017 11:23am
Quoting Lock
Overnight inventories are for now 100% long from yes pit unch. But we could consider some of them already corrected by current preUS action.
2458 yes pit unch tagged: overnight inventories completely liquidated.
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  • #3,307
  • Feb 16, 2017 11:26am Feb 16, 2017 11:26am
Quoting Lock
{quote} 2458 yes pit unch tagged: overnight inventories completely liquidated.
For any meaningfull continuation downside we absolutely need acceptation below yes unch (and very quickly) if not, watch out for correction.
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  • #3,308
  • Feb 16, 2017 12:00pm Feb 16, 2017 12:00pm
G inside F.
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  • #3,309
  • Feb 17, 2017 1:18am Feb 17, 2017 1:18am
Quoting Lock
E period high at previous half back 2495, F period high at yes high 2481: carry these information forward. 2446, yes pit poc (prominent) is possible anyway. And remember yes pull back low at 2436: it is our main pit ref for today.
Note that after the tag of Wednesday pit unch price went up and eventually took out both 2495 and 2481.
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  • #3,310
  • Feb 17, 2017 1:38am Feb 17, 2017 1:38am
17/02/17 FRIDAY 08:38+1GMT
EARLY MORNING REPORT

Still monthly,weekly and daily balance. Total lack of participation of timeframes bigger than daily ones.
Yesterday GB session left a new gap upside (2464-2483).
Price is glued to the major composite poc at 2489 and volume is needed in order to evade it.

Yesterday pit session left a new poor low at 24585 that is also weak as it is the perfect tag of the previous session unchanged level.
Also L and M periods left weak highs tagging the session open at 2450 that is also round number. Above we have 4 poor highs left by different previous sessions: Pit 2532, GB 25393, Tokyo 25475 and again Pit at 25645.

Major levels (short term ones) are the same as the past days: 25122, 2548, 26345 and 2673 above; while 24436, 23805, 23462, 23316 and 23117 below. But current 2 days bracket boundaries are 24436 downside and 25122 upside. If we consider instead the bigger bracket (last 10 days) the limits are 24436-2548.
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  • #3,311
  • Feb 17, 2017 3:27am Feb 17, 2017 3:27am
Quoting Lock
17/02/17 FRIDAY 08:38+1GMT EARLY MORNING REPORT Still monthly,weekly and daily balance. Total lack of participation of timeframes bigger than daily ones. Yesterday GB session left a new gap upside (2464-2483). Price is glued to the major composite poc at 2489 and volume is needed in order to evade it. ..... But current 2 days bracket boundaries are 24436 downside and 25122 upside. If we consider instead the bigger bracket (last 10 days) the limits are 24436-2548.
After the filling of the yesterday GB gap upside, for any meaningfull continuatin downside we need acceptation back inside Wednesday Gb range (below 2464). If not we could spend some time to fill the old gap with volume or retrace to the comp poc. Remember the boundaries of current bracket.
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  • #3,312
  • Feb 17, 2017 3:44am Feb 17, 2017 3:44am
Now, for continuation downside we need acceptation below Wednesday GB lower distribution, meaning below 2436. In any case consider the extreme elongation of the last 2 periods.
If we will have continuation the next visible level for GB is 2346.
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  • #3,313
  • Feb 17, 2017 4:16am Feb 17, 2017 4:16am
Quoting Lock
17/02/17 FRIDAY 08:38+1GMT EARLY MORNING REPORT ... Major levels (short term ones) are the same as the past days: 25122, 2548, 26345 and 2673 above; while 24436, 23805, 23462, 23316 and 23117 below. But current 2 days bracket boundaries are 24436 downside and 25122 upside. If we consider instead the bigger bracket (last 10 days) the limits are 24436-2548.
As you remember 23805 is the half back of the entire bracket from 06.12.16. (for all sessions) While 23975 is the half back of the same bracket for pit session and 2396 is the half back for GB.
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  • #3,314
  • Feb 17, 2017 6:35am Feb 17, 2017 6:35am
The game now is about a possible new pit gap downside from yesterday pit low 24585. So monitor the final partion of GB and upcoming preUS session in order to evaluate if this will be possible. If the gap will be built and if it will resist we could continue lower to the 2346 zone. If instead pit US will open inside yesterday pit range (above 24585) or the possible new gap will be retraced quickly we will have good odds to go upside and take out the numerous poor highs left above up to 25645. Or at least in this case we could expect balance, again, around the composite poc 2489.

Note the pit minus development left by 15.02 session at 2423-2436: this zone could attract pit price action even if other sessions already filled it.
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  • #3,315
  • Feb 17, 2017 8:32am Feb 17, 2017 8:32am
Quoting Lock
... Note the pit minus development left by 15.02 session at 2423-2436: this zone could attract pit price action even if other sessions already filled it.
Pit session opened with a gap lower and exactly in the middle of the previous minus development 2423-2436.
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  • #3,316
  • Feb 17, 2017 10:05am Feb 17, 2017 10:05am
Quoting Lock
{quote} Pit session opened with a gap lower and exactly in the middle of the previous minus development 2423-2436.
Eventually filled also by pit session. Now let's see.
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  • #3,317
  • Feb 17, 2017 10:31am Feb 17, 2017 10:31am
Note the entire US action contained in 22 pips: highly improbable to remain like this.
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  • #3,318
  • Feb 17, 2017 10:36am Feb 17, 2017 10:36am
pit cluster A B C D E should be removed also considering that is tagging preUS B: but considering the weakness of the sellers I'll not bet on a considerable continuation below it. In any case monitor for continuation if it will break it. And consider 23975 as a potential reaction level as it is a short term level for pit session. For any serious continuation we need acceptation below it. If not...
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  • #3,319
  • Feb 17, 2017 10:39am Feb 17, 2017 10:39am
Obviously even if the gap downside is still in place, note the poor high tagging pre US C 24365. So if you'll not see continuation below current cluster low, watch out for a correction of this weak level above.
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  • #3,320
  • Feb 17, 2017 10:48am Feb 17, 2017 10:48am
Quoting Lock
pit cluster A B C D E should be removed also considering that is tagging preUS B: but considering the weakness of the sellers I'll not bet on a considerable continuation below it. In any case monitor for continuation if it will break it. And consider 23975 as a potential reaction level as it is a short term level for pit session. For any serious continuation we need acceptation below it. If not...
Cluster removed: watch out now.
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