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Lock's Cable Corner

  • #3,601
  • Feb 24, 2017 7:06am Feb 24, 2017 7:06am
Very prominent daily poc at 2548 (Sydney+Tokyo+GB+ecc.): when is so prominent generally we could experience a directional movement.

This is due to the fact that when a poc is too prominent it is almost impossible to perform any good trade around it, then market participants need to find a new place at which business could be fairly conducted. The more the prominence the bigger the search should be in order to evade succesfully the old poc. Consequently from this condiction could derive a directional wide move in some direction. (the search for the new possible poc)
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  • #3,602
  • Feb 24, 2017 7:08am Feb 24, 2017 7:08am
we have a previous pit session high at 2565 that we have not revisited before something I am noting in relation to the current pit session, overnight low (current GB low is in this minus development Lock noted from the previous pit session.. Lock would I be right in saying that anyone long from C period in GB (now overnight) would have been liquidated if we probe far enough into this minus development making it more attractive if the indecision continues??? also the way we have trended coming into preUS would suggest overnight is very much long now
  • #3,603
  • Feb 24, 2017 7:17am Feb 24, 2017 7:17am
Quoting Piphunter00
we have a previous pit session high at 2565 that we have not revisited before something I am noting in relation to the current pit session, overnight low (current GB low is in this minus development Lock noted from the previous pit session.. Lock would I be right in saying that anyone long from C period in GB (now overnight) would have been liquidated if we probe far enough into this minus development making it more attractive if the indecision continues??? also the way we have trended coming into preUS would suggest overnight is very much long...

Overnight is neutral as all the overnight action occurred both above and below yesterday pit unch at 25543. The most important level is currently 2548: so monitor for acceptation there (above or below it) even for upcoming pit session. The previous pit session high you mentioned is very weak as it tagged an older poor pit high. So it is clearly a possible target for pit session. But it is also possible to see pre US closing above it. In this case we will consider it already taken out, right at open.

But the important aspect of that level 25645 is that it is the low of an old pit gap downside. So if pit will open above it (a new gap upside), over that level we will have a double pass pit gap, that, again, could attract price.
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  • #3,604
  • Feb 24, 2017 7:20am Feb 24, 2017 7:20am
Quoting Lock
{quote} Overnight is neutral as all the overnight action occurred both above and below yesterday pit unch at 25543..
thank you for the correction, I was eyeballing GB recent trend to much and not looking at the overall
  • #3,605
  • Feb 24, 2017 7:22am Feb 24, 2017 7:22am
Quoting Lock
...Note both I and J lows at open 25465.....
Tagged by current A low again.
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  • #3,606
  • Feb 24, 2017 7:24am Feb 24, 2017 7:24am
Quoting Lock
{quote} Tagged by current A low again.
Taken out.
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  • #3,607
  • Feb 24, 2017 7:30am Feb 24, 2017 7:30am
Quoting Lock
{quote} A spike is a final test above or below a session made during the last periods of it. In this case J period. The spike base is the breakeven of it from the balance (max 2 letters wide) In this case the spike base (even if the spike failed) is at 25555. And this could be an important reference untill GB close (18:00+1GMT) and/or during the next GB sessions.
Note preUS high exactly at it.
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  • #3,608
  • Feb 24, 2017 8:10am Feb 24, 2017 8:10am
wow that overnight low got torn through
  • #3,609
  • Feb 24, 2017 8:13am Feb 24, 2017 8:13am
Quoting Lock
{quote} ..... Let's see preUS open considering the old gap downside that we are currently tagging (25645 pit US poor high from 02.02) and the double pass pit gap at 25955-2613 .... Note also that yesterday pit US left a minus development at 25165-2532. This zone could attract price if the current indecision will continue.
Liquidation and filling of the minus development. Now let's see pit session here.
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  • #3,610
  • Feb 24, 2017 8:13am Feb 24, 2017 8:13am
Note C from short term 2548 to short term 25122
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  • #3,611
  • Feb 24, 2017 8:20am Feb 24, 2017 8:20am
Note the extreme elongation of C and its too many single pips.
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  • #3,612
  • Feb 24, 2017 8:25am Feb 24, 2017 8:25am
Let's say you will see some correction of the currently upper minus developmend by upcoming pit session and then no continuation above it: in this case the yesterday pit poor low will be at risk and the lower composite poc will be very possible (2464).
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  • #3,613
  • Feb 24, 2017 8:27am Feb 24, 2017 8:27am
wow this thing is shitting itself!
we are either going to open outside of value to the downside or with a tiny gap if the next 5 mins craps itself anymore lol
small change in the more likely scenario of being outside of value.

not sure what could fold out here :S
  • #3,614
  • Feb 24, 2017 8:29am Feb 24, 2017 8:29am
Lock, in a situation like this where the overnight low has already been torn through is it still relevant if we accept below it or fail to and go back inside this range? or is this tested

C period made a decent bounce from half of back of previous days range

like now were if we retrace some of the minus development and accept above overnight low is that a signal that we might swing to the upper references
  • #3,615
  • Feb 24, 2017 8:29am Feb 24, 2017 8:29am
Quoting Piphunter00
wow this thing is shitting itself! we are either going to open outside of value to the downside or with a tiny gap if the next 5 mins craps itself anymore lol small change in the more likely scenario of being outside of value. not sure what could fold out here :S

The minus development is now too attractive, specially with such liquidation. I'm not saying pit has to fill it completely but I will be surprised if it will ignore it completely.
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  • #3,616
  • Feb 24, 2017 8:30am Feb 24, 2017 8:30am
But we open at 25122: the game will be here.
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  • #3,617
  • Feb 24, 2017 8:31am Feb 24, 2017 8:31am
I mean: acceptation above or below it is the current pit game.
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  • #3,618
  • Feb 24, 2017 8:32am Feb 24, 2017 8:32am
Quoting Lock
But we open at 25122: the game will be here.
what reference is this exactly I couldn't find anything scrolling over the chart
  • #3,619
  • Feb 24, 2017 8:33am Feb 24, 2017 8:33am
inside week balance high 20.11.16
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  • #3,620
  • Feb 24, 2017 8:35am Feb 24, 2017 8:35am
2524 instead of 2526 (GB) is the pit half back of the bracket from 02.02. Remember this level if you will see an attmpted filling of the upper minus develompment.
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