Lock's Cable Corner | Page 172 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies

Updating stops to lock in profits 3 replies

lock pattern for global variable in MT4 2 replies

Attachments: Lock's Cable Corner
Exit Attachments

Lock's Cable Corner

  • #3,421
  • Edited 4:24am Feb 22, 2017 4:03am | Edited 4:24am
your trade this morning was a perfect example, I didn't really see any references of specific levels it was more based aroun the situational aspect of the market failing to settle at a certain point and u made sure u just sold above another recent point, takes a different kind of pattern recognition all together

on the upside in the last what? day of reading and receiving your answers to my questions I feel ive assimilated more information about the market profile than I was able to watching a Dalton webinar and reading MOM. you have a good way of putting your ideas into understandable prospective

had I been in this I would have been cursing the lower trendline lool seems to be stalling the traffic
  • #3,422
  • Feb 22, 2017 4:33am Feb 22, 2017 4:33am
would the I period close count as the second period below the GB high?, of course two periods is not an exact science to mean acceptance at all and the way J period has shot directly back above that same reference may indicate we wont get acceptance. I'm starting think that my description of a balanced scenario inbetween GB high and close might be highly probable if we cant extend below H period. Odds are now weighing on a US Pit open within range and possibly within or just outside of value?
this is were it scrambles my brain because now looking at it H period has left behind 3 singles, so if J prints one more tick higher than it has above I rendering it not an inside bar could this be responsive buying and a sign of excess?
  • #3,423
  • Feb 22, 2017 5:13am Feb 22, 2017 5:13am
i think the US session will be very similar to yest. it should reach todays high
  • #3,424
  • Feb 22, 2017 5:26am Feb 22, 2017 5:26am
Quoting titi14
i think the US session will be very similar to yest. it should reach todays high
not a bad call at all, give us some narrative though! I find just expressing your narrative behind you think why helps you subconsciously going into the situation.

overnight inventory coming into the US pit session is mostly 100% short. although eyeballing it more TPO's occurred above US Pit Unch. one of the nuances to that is looking at how overnight trended coming into the open which would put the overnight inventory for the US session is short so this could support that scenario seeing as we still have many poor highs carried forward including the one set this morning at the daily high and weak hands are easy to retrace.

I would like to post some scenario's

1. US pit opens and we tag the overnight low (in this case the GB low as overnight for US Pit is all previous sessions together) fail and liquidate overnight inventory on the way up. upside references would be the gazillion poor highs we have carried forward (supports the theory of reaching the daily high)
2. We head for the US pit high make a failure and return back into the range and have a more two timeframe balanced session (could happen given the likely open status of the US pit session in relation to the previous days
3. We take out overnight low, accept and head for the lower references lock has previously noted

I am far from adept with this kind of analysis but I learn from doing and experiencing so heres my take!
happy trading
  • #3,425
  • Feb 22, 2017 5:35am Feb 22, 2017 5:35am
Quoting Piphunter00
{quote} not a bad call at all, give us some narrative though! I find just expressing your narrative behind you think why helps you subconsciously going into the situation. overnight inventory coming into the US pit session is mostly 100% short. although eyeballing it more TPO's occurred above US Pit Unch. one of the nuances to that is looking at how overnight trended coming into the open which would put the overnight inventory for the US session is short so this could support that scenario seeing as we still have many poor highs carried forward...
you just posted my whole narrative thinking! thumbs-up!!!
  • #3,426
  • Feb 22, 2017 6:39am Feb 22, 2017 6:39am
wheres lock to post an update now.... i guess u take over piphunter
  • #3,427
  • Feb 22, 2017 6:51am Feb 22, 2017 6:51am
Quoting titi14
wheres lock to post an update now.... i guess u take over piphunter
lol I appreciate the gesture but theres no way I have the same understanding at all! like I said earlier I feel I'm completely grasping the overall view of the market profile and gauging timeframe control, important references etc. its actual execution using this information that I'm still completely dumbfounded by. and without an actionable way to execute all that's really happening is following the market in hindsight with a little bit of future oversight on possible scenarios lol

well Pit US charged str8 for the previous pit Unch. wasn't able to take a look above the session high so far in A period, have to see what the rest of the initial balance can tell us about what to expect going forward.

Heres where I find my upmost confusion. a possible failure trade at the pit high could be on the horizon but then we could also have another situation like yesterday where inventory was so short that we rocket up in a period, print a poor high in B then break A and go parabolic upwards.

I just cant wait till my brain debugs all the useless information that was piled into it during my infant stages as a trader. I come from the world of candles, chart formations, fibs and all types of other hocus pocus
  • #3,428
  • Feb 22, 2017 6:57am Feb 22, 2017 6:57am
Quoting Piphunter00
{quote} . I come from the world of candles, chart formations, fibs and all types of other hocus pocus
me too exactly... u have nailed it way better than me! for instance now, right now i havent a clue where its going...
  • #3,429
  • Feb 22, 2017 7:15am Feb 22, 2017 7:15am
Quoting titi14
{quote} me too exactly... u have nailed it way better than me! for instance now, right now i havent a clue where its going...
B period most likely to print inside of A period so right off the bat its an open auction type of situation so far. no conviction whatsoever. I don't think ill even think about attempting some form of execution if were not at either the pit high or overnight low
  • #3,430
  • Feb 22, 2017 7:44am Feb 22, 2017 7:44am
Quoting Piphunter00
{quote} B period most likely to print inside of A period so right off the bat its an open auction type of situation so far. no conviction whatsoever. I don't think ill even think about attempting some form of execution if were not at either the pit high or overnight low
WHAT IS GOING ON!!!???????
  • #3,431
  • Feb 22, 2017 7:48am Feb 22, 2017 7:48am
Quoting titi14
{quote} WHAT IS GOING ON!!!???????
weak hands playing tug of war lol
  • #3,432
  • Feb 22, 2017 7:50am Feb 22, 2017 7:50am
C period failed one tick above prior pit high, this is a point of confusion for me. I can get short on a revisit up there two ticks underneath the high but given were C period is likely to close wouldn't that level of retracement of the previous period be unhealthy? Lock when you can spend some time on replying could you please shed some light on this? is this just me thinking like a candle trader and not like a profile trader lol

am I making an error here by waiting on the current period to close to make trade decisions and entries
  • #3,433
  • Feb 22, 2017 7:57am Feb 22, 2017 7:57am
well theres no way on earth I can hop aboard that train now since it has long left the station lol! maybe this is why I cant get in a trade lol keep waiting on the dam period to resolve and the things gain momentum before that takes place
  • #3,434
  • Feb 22, 2017 8:17am Feb 22, 2017 8:17am
Quoting Piphunter00
well theres no way on earth I can hop aboard that train now since it has long left the station lol! maybe this is why I cant get in a trade lol keep waiting on the dam period to resolve and the things gain momentum before that takes place
im dying to realize what all this movement actually means...
  • #3,435
  • Feb 22, 2017 8:31am Feb 22, 2017 8:31am
Quoting titi14
{quote} im dying to realize what all this movement actually means...
tbh I have no clue apart from atm things can go either way. my two scenarios given the information provided so far is the single tick failure above previous session range will carry us downward to the overnight low or its literally going to be a completely balanced session just gyrating in and around the initial balance
  • #3,436
  • Feb 22, 2017 9:17am Feb 22, 2017 9:17am
Pit US opened inside yesterday pit range: in such cases initial acceptation of previous range is expected and eventually test above and/or below its extremes. And in fact: pit US spent some time in balance then tried above yes pit high: that was the first day timeframe trade for current session (short). Then C tag preUS low and was not able to continue lower: second day timeframe possible trade (a buy). Then it came back to composite poc and stalled in balance again. D inside period: E attempted above, failed, then natural direction opposite side of D and obviously the weak preUS low tag made by C. This was the third possible day timeframe position for current session (a new short).

Note that we have a major news at 20:00+1GMT and we didn't see any major timeframe participation from start. It is highly unlikely that major timeframe will enter the market late in the day. So, our expectation is a possible shake out done by sligthly stronger market participants in order to eventually remove some of the weaknesses left above and/or below. If bigger timeframes will enter the market they will do it tomorrow.

This does not mean we cannot have a huge action late in the day, but it means that this possible action will not be leaded by stronger participants.

Consider that in order to evade the major composite poc we need substantial volume. Day timeframe should not provide the needed volume for this task. So if you will see price evading the poc it is probable to see price coming back to it. Obviously I'm speaking about odds. Then the market will decide.
Ubi maior minor cessat
  • #3,437
  • Feb 22, 2017 9:32am Feb 22, 2017 9:32am
Note that C period tested above the last 3 pit sessions bracket high. Add current last 3 pit sessions bracket low is weak at 2405: in fact yes preUS tagged there Friday pit low. When you failed above a balance (and a bracket is a form of balance) then the natural direction is the opposite side of it. This does not mean we have to go there but if it will do it, we could consider it absolutely normal and expected.
Ubi maior minor cessat
  • #3,438
  • Feb 22, 2017 9:39am Feb 22, 2017 9:39am
Quoting Lock
Note that C period tested above the last 3 pit sessions bracket high. Add current last 3 pit sessions bracket low is weak at 2405: in fact yes preUS tagged there Friday pit low. When you failed above a balance (and a bracket is a form of balance) then the natural direction is the opposite side of it. This does not mean we have to go there but if it will do it, we could consider it absolutely normal and expected.

I mean: carry this information forward in case of shake out or in case of acceptation below 24437 (one of our major reference for today).
Ubi maior minor cessat
  • #3,439
  • Feb 22, 2017 9:40am Feb 22, 2017 9:40am
Take also note of the fact that E period high is weak as it was the last period of London and it perfectly tagged yesterday GB close at 24633. An other weak reference in case of shake out. (and it is also very close to the composite poc 2464 that as written many times will tend to attract price.)
Ubi maior minor cessat
  • #3,440
  • Feb 22, 2017 9:45am Feb 22, 2017 9:45am
Third information: F high is exactly at yesterday APBL (afternoon pull back low 24572): as written before this is our most important level for current pit session because yesterday pit action tried to go higher and then it made a test downside (the APBL) so acceptation below this level means a rejection of yesterday attempt upside. It is a level used by daily and short term timeframes.
Ubi maior minor cessat
6 traders viewing now