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Lock's Cable Corner

  • #3,501
  • Feb 23, 2017 6:33am Feb 23, 2017 6:33am
Let me add an other important aspect that can come only by experience: tempo. D, E, F and G went down grinding with a very slow tempo. This, for me, was an other important data point.
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  • #3,502
  • Feb 23, 2017 6:35am Feb 23, 2017 6:35am
Quoting Lock
{quote} When I see an inside period and a break above or below it then I generally place a position above or below breakeven if I saw some possible reasonable target upside or downside. (general rule) In this case as written early we got the yesterday GB poor high as a very good possible target upside. So I entered in, disregarding the weaknesses of F and G periods at yes unch. An other very important aspect derived form the lack of acceptation below yes GB unch and close. Probably without this data point I would not have placed a long on that break....
thanks again, what is the definition of the breakeven.. I just had a look in daltons glossary couldn't find nothing on it. forgive me if I am having a moment of stupidity my brain is working a lot more these days lol

and also my question of what constitutes a break isit a two print if one print above is still an inside? or is the fact that I already know this answer my question lol always like confirmation with new concepts
  • #3,503
  • Feb 23, 2017 6:38am Feb 23, 2017 6:38am
Quoting Lock
Let me add an other important aspect that can come only by experience: tempo. D, E, F and G went down grinding with a very slow tempo. This, for me, was an other important data point.
the market is musical for sure
  • #3,504
  • Feb 23, 2017 6:39am Feb 23, 2017 6:39am
Quoting Piphunter00
{quote} thanks again, what is the definition of the breakeven.. I just had a look in daltons glossary couldn't find nothing on it. forgive me if I am having a moment of stupidity my brain is working a lot more these days lol and also my question of what constitutes a break isit a two print if one print above is still an inside? or is the fact that I already know this answer my question lol always like confirmation with new concepts
2 pips above balance. Definition by Dalton, deriving from his experience. Then it is impossible to be precise any time. Also I generally do not place automatic entries.
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  • #3,505
  • Feb 23, 2017 6:41am Feb 23, 2017 6:41am
Quoting Lock
{quote} 2 pips above balance. Definition by Dalton, deriving from his experience. Then it is impossible to be precise any time. Also I generally do not place automatic entries.
of course, I am not in pursuit of precision at all, just don't want to be sticking an order or hitting the market on a one print break or whatever and that isn't even confirming the information I want to see lool
  • #3,506
  • Feb 23, 2017 6:48am Feb 23, 2017 6:48am
J low at yes GB open 2487. Let's see it will settle the session above or below it.
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  • #3,507
  • Feb 23, 2017 6:50am Feb 23, 2017 6:50am
Nte that F, G, H and J periods' lows are all day timeframe references: so in this moment in time you know exactly who is ruling this action.
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  • #3,508
  • Feb 23, 2017 6:51am Feb 23, 2017 6:51am
25122 first short term ref above.
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  • #3,509
  • Feb 23, 2017 7:01am Feb 23, 2017 7:01am
PreUS out of balance. Cluster of poor highs above up to 25645 (7 in a row: 2498, 2502, 25075, 2532, 25393, 25475 and 25645). Let's see if it will build a gap for pit US (or not).
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  • #3,510
  • Feb 23, 2017 7:04am Feb 23, 2017 7:04am
Quoting Lock
J low at yes GB open 2487. Let's see it will settle the session above or below it.
we have settled above, guess that means acceptance for the trendline break now too. only thing left is to see If the gap stays intact when the Pit opens, I am going to be basing any action I probably take today off of what happens around this gap if it comes and will obviously reevaluate if not. I'm thinking a gap failure scenario, if we try to close it up and cant get below that obviously means they cant get there hands on liquidating overnight inventory, plus the retracement is very shallow which is healthy for a run up.. so all the references above you have left us with on the upside become targets and points to watch for further acceptance/rejection.

Also isit a correct assessment to say that in this scenario we can be very aggressive and keep a tight stop as a two print break inside the gap means a fill

conflicting data points to be mindful of would be the weakness below and how net long inventory is?? and if we fail above 2507 (pit session high from the 16th) before making a run at the gap could that add some weight to it being filled then cascading into liquidating inventory?
  • #3,511
  • Feb 23, 2017 7:04am Feb 23, 2017 7:04am
In case of liquidation we have instead space down to 2446
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  • #3,512
  • Feb 23, 2017 7:06am Feb 23, 2017 7:06am
Quoting Piphunter00
{quote} .. Also isit a correct assessment to say that in this scenario we can be very aggressive and keep a tight stop as a two print break inside the gap means a fill.
?
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  • #3,513
  • Feb 23, 2017 7:11am Feb 23, 2017 7:11am
Quoting Lock
{quote} ?
sorry if I am not making sense lol. hopefully this is clearer. if we see the market approach the pit gap (if we get it) say one or two ticks shy of it and tempo slows, would it make sense to get long with a tight stop just inside previous pit range because if it continues lower inside that range the situation could have changed as the gap would have been closed and possible acceptance back in this range could be possible
  • #3,514
  • Feb 23, 2017 7:16am Feb 23, 2017 7:16am
Quoting Piphunter00
{quote} sorry if I am not making sense lol. hopefully this is clearer. if we see the market approach the pit gap (if we get it) say one or two ticks shy of it and tempo slows, would it make sense to get long with a tight stop just inside previous pit range because if it continues lower inside that range the situation could have changed as the gap would have been closed and possible acceptance back in this range could be possible
The concept is absolutely correct. The amount of pips of the possible attempted fill is discretionary. It could be more or less it depends upon the market condition and the dimension of the gap. The bigger the gap the bigger could be considered the change occurred. So the more difficult will be for market participants to revert this occurred change. Obviously in a 50 pips gap an attempt of 5 to 10 pips could be a normal one while in a 15 pips gap could be considered differently. So it may vary.
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  • #3,515
  • Feb 23, 2017 7:18am Feb 23, 2017 7:18am
But in any case a gap is only one data point. Even if we will have a gap, with no attempted correction downside at all, let's say we will not see conviction upside (in the first 2 or 3 periods), well, even in this case the full gap could be at risk.
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  • #3,516
  • Feb 23, 2017 7:21am Feb 23, 2017 7:21am
preUS low 1 pip above yes pit high: weak. Carry his info forward if something will go wrong upside.
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  • #3,517
  • Feb 23, 2017 7:23am Feb 23, 2017 7:23am
Quoting Lock
preUS low 1 pip above yes pit high: weak. carry his info forward if something will go wrong upside.
is this definite? or if in 30 min its 20pips higher does this shift it? or are we strict on time of preUS?
  • #3,518
  • Feb 23, 2017 7:26am Feb 23, 2017 7:26am
Quoting Lock
But in any case a gap is only one data point. Even if we will have a gap, with no attempted correction downside at all, let's say we will not see conviction upside (in the first 2 or 3 periods), well, even in this case the full gap could be at risk.
yes I definitely had this in mind, if we make a failure before any downside movement to the gap from some upper reference point that will put me on full red alert and will probably not even think about taking it, the game for me will probably be monitoring for acceptance back in the range and a opportunity to get short for a test to the otherside.

Pre US, right between two weak references, previous pit high and current overnight high
  • #3,519
  • Feb 23, 2017 7:57am Feb 23, 2017 7:57am
Lock, Pre US has been a sizeable move compared to the usual range of the activity in this time. does this affect how you view things in anyway in regards to the session. Say in terms of if you include it in overnight or Pit us? I'm just curious as I'm completely new to breaking up of sessions in this way
  • #3,520
  • Feb 23, 2017 8:01am Feb 23, 2017 8:01am
I see in this thread aere present skilled traders already above the early stages of preparation: feel free to answer other traders' basic questions if you like.
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