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Lock's Cable Corner

  • #3,321
  • Feb 17, 2017 10:59am Feb 17, 2017 10:59am
This is the last period for London: note price exactly at GB unch-
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  • #3,322
  • Feb 17, 2017 11:51am Feb 17, 2017 11:51am
Quoting Lock
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.
As you see...Taken out. Now watch out again: the retracement upside was extraordinary grinding (and against USDX rally), it could fill the gap or retrace an other time, eventually closing in balance at poc or testing 23975 or both.
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  • #3,323
  • Feb 17, 2017 11:58am Feb 17, 2017 11:58am
Quoting Lock
{quote} As you see...Taken out. Now watch out again: the retracement upside was extraordinary grinding (and against USDX rally), it could fill the gap or retrace an other time, eventually closing in balance at poc or testing 23975 or both.
the gap top is at yes pit low 24585 but...

24437 is bracket low as you remember: for continuation upside we need acceptation above it. If not...
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  • #3,324
  • Feb 17, 2017 12:21pm Feb 17, 2017 12:21pm
Well, no acceptation above 24437, then retrace. Now I think it's over. Or, at least, to risky considering that it's Friday. So I'm off. Have a nice continuation and a good weekend. Best L.
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  • #3,325
  • Feb 20, 2017 4:45am Feb 20, 2017 4:45am
Quoting Lock
Well, no acceptation above 24437, then retrace. Now I think it's over. Or, at least, to risky considering that it's Friday. So I'm off. Have a nice continuation and a good weekend. Best L.
Hey, Lock! Just wanted to thank you for all your detailed explanations. I hope you had a good weekend.
  • #3,326
  • Feb 20, 2017 10:07am Feb 20, 2017 10:07am
Quoting nixdem
{quote} Hey, Lock! Just wanted to thank you for all your detailed explanations. I hope you had a good weekend.
Hi Nixdem,
you're welcome and thank you for your participation in this thread. I also hope you had a pleasant weekend too. Best L.
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  • #3,327
  • Edited 10:33am Feb 20, 2017 10:15am | Edited 10:33am
Hi Lock
thank you for the valuable information that you give us daily and congratulations for the constancy, is not common.
I use MP for a long time as a tool to get a big picture on the markets, but one never stop learning so I'm slowly reading the thread from the front page alongside with profiles from day to day, i'm about at halfway.
I take advantage of this flat day to ask you some questions:
can you confirm that currently, without DST, the correct times of these sessions are:
SydneyOpen = 00:00
AsiaOpen = 02:00
EuropeOpen = 10:00
USOPEN = 15:00
USPitOpen = 16:30
Asked this because i've found an AsiaOpen=03:00 in the presets in your indicator but I think it's related to summer.

Then I noticed that you do not take into account the upper and lower Value Area levels ( as pure horizontal levels) and the POC level in partial sessions and daily profiles, the only one that you consider is the composite POC.
Can you confirm if this is so and the reasons?

Thank you
  • #3,328
  • Feb 20, 2017 11:02am Feb 20, 2017 11:02am
Quoting thetail
Hi Lock thank you for the valuable information that you give us daily and congratulations for the constancy, is not common. I use MP for a long time as a tool to get a big picture on the markets, but one never stop learning so I'm slowly reading the thread from the front page alongside with profiles from day to day, i'm about at halfway. I take advantage of this flat day to ask you some questions: can you confirm that currently, without DST, the correct times of these sessions are: SydneyOpen = 00:00 AsiaOpen = 02:00 EuropeOpen = 10:00 USOPEN =...
Hi thetail, you're welcome too and thanks for your appreciations about my activity. About sessions' times they depend upon the server GMT.
For instance, if your server was GMT+2 settings would be:

  1. Syd 00:00
  2. As 02:00
  3. Eur 10:00
  4. USOp 15:00
  5. USp 16:30

About value areas I always consider them both for sessions and days (but also for composite variable profiles). Rather, I can say that most of my approach is based upon developing value. If you'll continue to read the posts you'll find a lot of examples regarding the way I use value to analyze markets. About sessions' pocs I must answer in the same way, because a poc is the fairest place at which business has been conducted before (in a particular period of time, like a session a day a week or a month...) it is always at the center of my analysis. Specially if the poc is prominent. But, even about this issue you'll find many examples continuing your readings.
Best L.

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  • #3,329
  • Edited 12:38pm Feb 20, 2017 12:18pm | Edited 12:38pm
Quoting Lock
About value areas I always consider them both for sessions and days (but also for composite variable profiles). Rather, I can say that most of my approach is based upon developing value.
Yes, I got it, but in my question I was referring to the exact level of the upper and lower VA not so much seen as a developing area.
Practically, while I find your observations like "D period has tagged the asian poor low" , or "tagged halfback" or "yesterday unch pit" and so on, I've not read anything like "D period tagged the XXX upper VA". In this sense I meant that you do not use them in the same way, at least for what I have read .... and now continuous.
Thanks again.
  • #3,330
  • Feb 21, 2017 1:00am Feb 21, 2017 1:00am
Quoting thetail
{quote} Yes, I got it, but in my question I was referring to the exact level of the upper and lower VA not so much seen as a developing area. Practically, while I find your observations like "D period has tagged the asian poor low" , or "tagged halfback" or "yesterday unch pit" and so on, I've not read anything like "D period tagged the XXX upper VA". In this sense I meant that you do not use them in the same way, at least for what I have read .... and now continuous. Thanks again.
Yes I understood the question and I evaded it. I can say that value area borders are a full embedded aspect of market profile analysis but I noted that it is better to analyze the market participants behaviour in order to evaluate if a particular level is used or not and when. And, in my experience I noticed that other levels are generally more exact than value area precise limits. Let me explain in this way: I watch them and when they are got through I start to search a possible precise level where price could eventually react (in a balance environment).
Best L.
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  • #3,331
  • Feb 21, 2017 1:50am Feb 21, 2017 1:50am
17/02/21 TUESDAY 08:50 +1GMT
EARLY MORNING REPORT

Monthly, weekly and daily balance. Last week was an inside one as yesterday was inside Friday. Also, yesterday GB session was inside Friday GB range. So a breakout could occur during upcoming GB session. I suggest to monitor carefully the open price location: for now we are at the lower extreme of yesterday Gb session so the interesting thing will be to see if the open will be above yes low 2427 (meaning inside balance) or below it, in which case we will have a new gap downside.

If it will be inside yes range, initial acceptation of yes range is expected and then (eventually) possible tests above and/or below. If instead we will have a gap downside we will have to monitor for it: if the possible new gap will resist then we have good odds to continue lower, if instead the new possible gap will be retraced quickly, the next natural direction should be the opposite side of the GB range (yes GB high 2482.)

Current composite poc is at 2464. If the balance environment will be preserved it will be a very important refernence for upcoming sessions.

If not, downside main refs are 23975, 2396, 23805 (last 3 refs are all main half backs) and 2346 (old GB poor low). Whhile above 24437, 25122, 2548, 26345 and 2673.
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  • #3,332
  • Feb 21, 2017 1:59am Feb 21, 2017 1:59am
Remember that yes GB low was weak as it was a perfect tag of Friday unchanged GB level 2426.
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  • #3,333
  • Feb 21, 2017 6:16am Feb 21, 2017 6:16am
Remember 2396, half back of the entire GB move downside from 06.12*. And note that all this struggling is about current week low.
*23805 is the half back of the same move considering all the sessions.
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  • #3,334
  • Feb 21, 2017 6:24am Feb 21, 2017 6:24am
Quoting Lock
Remember 2396, half back of the entire GB move downside from 06.12*. And note that all this struggling is about current week low. *23805 is the half back of the same move considering all the sessions.
If I will not see a reaction (a strong one) below this level I think we have good odds to continue to 2346.
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  • #3,335
  • Feb 21, 2017 6:25am Feb 21, 2017 6:25am
But be ready for a possible cover at any moment in time, because current structure coming downside is ugly.
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  • #3,336
  • Feb 21, 2017 6:52am Feb 21, 2017 6:52am
It is leaving downside a poor low at round number (2400). And, at the same time is building a significant new gap downside for upcoming preUS/pitUS. And, as written, the structure left above is very very bad (like curren I and J highs both at half back 2420, H high at yes GB low 2427 and E high at yes GB open 2431). So we are plenty of conflicting information here. Let's see the behaviour of preUS and if this new possible gap downside will be preserved or not. Current market is totally under the control of weak hands.
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  • #3,337
  • Feb 21, 2017 7:29am Feb 21, 2017 7:29am
Quoting Lock
It is leaving downside a poor low at round number (2400). And, at the same time is building a significant new gap downside for upcoming preUS/pitUS. And, as written, the structure left above is very very bad (like curren I and J highs both at half back 2420, H high at yes GB low 2427 and E high at yes GB open 2431). So we are plenty of conflicting information here. Let's see the behaviour of preUS and if this new possible gap downside will be preserved or not. Current market is totally under the control of weak hands.
I forgot F high at today GB open 24285. So the sequence of weak refs left above is 2427, 24285 and 2431. (2420 already taken out by initial preUS action.) At the same time note current preUS A tagging Friday pit low 2405.
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  • #3,338
  • Feb 21, 2017 7:51am Feb 21, 2017 7:51am
Remember the half back of the bracket from 06.12: 23975 US pit, 2396 GB, 23805 all sessions. Bigger timeframes (if any) should be below them. (buyers or sellers)
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  • #3,339
  • Feb 21, 2017 8:59am Feb 21, 2017 8:59am
Quoting Lock
{quote} I forgot F high at today GB open 24285. So the sequence of weak refs left above is 2427, 24285 and 2431. (2420 already taken out by initial preUS action.) At the same time note current preUS A tagging Friday pit low 2405.
All taken out by pit cover.
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  • #3,340
  • Feb 21, 2017 9:02am Feb 21, 2017 9:02am
Quoting Lock
{quote} All taken out by pit cover.
can you please explain in more detail lock? i really enjoy your posts... struggling to find direction from them though. id appreciate a little explanation ... im long but dont know where to TP shall i leave it now?
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